Open an Online Shop in Montenegro
Open an Online Shop in MontenegroUpdated on Thursday 13th June 2019
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E-commerce is one of the most important economic sectors in the world at the moment, with incomes of more than half billion US dollars sold at worldwide level. The fact that a company established in one country can sell good in other countries no matter how close or far, determines many young entrepreneurs to set up online shops in small and large countries and Montenegro is no exception.
Setting up an online shop in Montenegro is not complicated or subject to stringent requirements, however, there are a few specific procedures and laws which need to be respected.
Below, our lawyers in Montenegro explain the procedure of starting an online store here. We can guide you throughout the whole business setup process if you decide to open an online shop in Montenegro.
Registering a business – the first step of opening a Montenegro online shop
Even if the company will complete its activities in the online world, registering a company under the Montenegro Company Law is mandatory. The following steps need to be taken in order to register a business in Montenegro:
- - select a business form and prepare the documents to be filed with the Companies Register;
- - find a legal address for the company (the proof needs to be filed with the Trade Register upon registration);
- - choose and reserve a trading name for the business and prepare information about the owner;
- - open a corporate bank account in which the share capital will be deposited in accordance with the chosen business form;
- - have the incorporation documents submitted with the Montenegro Trade Register for approval;
- - register for taxation and obtaining a VAT number with the tax authorities in Montenegro.
These are the mandatory steps for operating a company legally in Montenegro. Then, there are specific steps to complete in order to be able to sell goods online.
These steps imply:
- - having a website created;
- - opening a merchant account;
- - registering the website address with the Intellectual Property Office (not mandatory);
- - setting up the online payment methods;
- - promoting the website;
- - complying the GDPR regulations, if selling to EU customers.
As seen above, registering the Montenegro online shop’s name as a trademark is not mandatory, however, it is advisable in order to create a brand.
Our law firm in Montenegro can advise on the legal requirements to comply with when setting up an online shop.
Creating a website for opening an online store in Montenegro
One of the most important steps to consider when selling goods online in Montenegro is having a website created. Entrepreneurs can register domain names with the Registrar which is managed by the Montenegrin government under the name of doMEn. The main abbreviation for domain names registered in Montenegro is .me, however, other abbreviations can also be used.
Apart from having their own websites, those who want to set up online stores in Montenegro can also use open source solutions which enable them to create their own platforms and start selling goods or licensed solutions which come as ready-made platforms where all the owners need to do is market their products.
Setting up Amazon shops is also a good solution for those interested in selling goods online from Montenegro.
Our Montenegro lawyers can offer more information on the requisites related to selling goods online.
Obligations of online shop owners in Montenegro
Those who want to sell goods through online shops in Montenegro will have the same obligations as those who operate traditional stores. As a matter of fact, most business owners run both traditional and online business to increase their revenues.
These are the obligations to comply with when opening an online shop in Montenegro:
- the website must display information about the company managing it, such as the physical address and its name;
- a contact page with a valid e-mail address and telephone number must also be displayed on the website;
- the website must also have a Terms and Conditions page which displays the new GDPR regulations;
- the sale of products by online shops on Montenegro must be subject to the same guarantee as when selling the goods as traditional store;
- online stores must respect the provisions of the E-Commerce, E-Document and Electronic Signature Laws in Montenegro.
Here are a few facts on e-commerce in Montenegro:
- - in 2018, 65% of the population in Montenegro used the Internet to buy goods and services;
- - this has transformed the country into a very appealing destination for selling goods through online shops among European states;.
- - companies registered in Montenegro, including online stores, benefit from a corporate tax of 10%;
- - online companies in Montenegro represent 25% of the total number of companies incorporated here in the last 2 years.
If you decide to open an online shop and need assistance in registering a business for this purpose, please contact our law firm in Montenegro.