Open a Consulting Business in Montenegro
Open a Consulting Business in MontenegroUpdated on Tuesday 22nd January 2019
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Montenegro is a very open country when it comes to foreign investors interested in setting up businesses here. Even if currently it is not a member state of the European Union, it has made huge steps in complying with the EU directives, given the fact that most of the foreign businessmen coming here are from these states. Also, Montenegro is preparing its entry in the EU by 2025.
With a prolific business environment, those who want to open companies in Montenegro can decide on various activities they can undertake. Those who want to set up businesses which require little amounts of money could find very useful to start consulting businesses in Montenegro.
If you have a specific qualification and consider a Montenegro consulting business is the right option for you, we invite you to read our article on how to create such a business venture. We would also like to let you know that you can rely on our lawyers in Montenegro for specialized assistance in opening your company.
Steps for opening a consulting business in Montenegro
Before starting the registration procedure of your consulting firm, there are a few aspects you should consider. The best way to get started is to have a realistic business plan which should be based on market research. Following that, you can:
- - what the most suitable business form for your Montenegro consulting firm is;
- - consider the types of services your company can offer to potential clients;
- - undergo specific training courses if you plan on specializing in a specific field;
- - prepare a marketing plan through which you will promote your company;
- - start the company registration procedure of your future consulting company.
With respect to the company registration of a consulting business, you should know that most of the times this business venture operates as a small or medium-sized enterprise, case in which it can be registered as a sole proprietorship or limited liability company. Considering the requirements for each business form are different, our law firm in Montenegro is at your disposal with information about each type of company.
Starting a consulting firm as a sole trader in Montenegro
One of the simplest ways of setting up a consulting company is by registering as a sole trader in the domain in which you are qualified. The registration requirements of a sole proprietorship are quite simple, and the procedure can be quickly completed. Sole proprietorships are small businesses and thus you will not be able to service too many customers.
However, if you do decide to open a consulting company in Montenegro as a sole trader and later change the business form, you will be able to do that. You can rely on our Montenegro lawyers for such a procedure.
Opening a Montenegro consulting business as a limited liability company
The most employed type of structure used for offering consulting services in Montenegro is the limited liability company. This business form is also preferred by foreign investors coming here as it offers extended protection for the owner’s personal assets.
The registration of a consulting company as a limited liability company will imply preparing the incorporation documents for the business and filing them with the Montenegro Trade Register. Even if from a documentation point of view this type of company is more complex, it is quite easy to set up. You can rely on our local law firm for assistance in registering such a business form in Montenegro.
A Montenegro consulting business set up as a limited liability company has many advantages, among them, being the possibility of hiring specialists and thus being able to handle more customers. Also, the profits of a larger consulting company will be higher.
Services offered by consulting firms in Montenegro
The services which can be offered by a consulting business in Montenegro will very much depend on the qualifications of the owner or the company’s employees. However, there is also the possibility of undergoing specific classes and acquire new qualifications which will improve the services portfolio of the company.
At the moment, some of the most prolific services offered by consulting companies in Montenegro are represented by:
- - internet-related consulting services provided by social media specialists;
- - financial-related consulting services which are provided by qualified accountants;
- - business and management consulting services offered by specialists in these fields;
- - advertising and public relations consulting services are also quite popular here.
If you want to open a consulting company and need help, please contact our Montenegro law firm who will provide you with customized business registration services.