Shareholders in Montenegro
Shareholders in MontenegroUpdated on Monday 30th January 2023
based on 3 reviews.
The shareholder of a Montenegrin company is any person or legal entity that owns at least one share of the company`s stock. According to the Law on Business Organization in Montenegro, the founders of any type of company who execute the foundation agreement become the company`s shareholders. The shareholders in Montenegro are the owners of a company, benefitting from its success in the form of increased stock valuation. The rights and obligations of a shareholder are referred to in the Montenegrin legislation.
Further details on the matter can be provided to you by our lawyers in Montenegro.
The rights of shareholders in Montenegro
The shareholders of Montenegrin companies benefit from special rights among which:
• The right to elect the managing and executive bodies of the company and select the company`s auditor;
• The right to request that the company`s founders compensate the company for any liabilities incurred prior to the day of its registration due to the founder`s failure to fulfill their obligations;
• The right to appoint the director of the company;
• The right to issue new shares;
• The right to make decisions in different situations.
According to the Law on Business Organization, all shareholders in Montenegro are treated equally in the same circumstances. They have such rights in a company as are attached to the shares they own. The shareholders in Montenegro have no other liabilities to the company than the obligation to pay the initial price of all the shares subscribed for. Complete information about the rights of shareholders can be given to you by our attorneys in Montenegro. Our immigration lawyers in Montenegro can also offer you complete relocation information. Before immigration to Montenegro, our lawyers can guide you if you need a visa for this country or if you are exempt from a visa. Keep in mind that if you are a UAE resident and can show evidence of lodging or a return airline ticket, you are free from visa requirements.
Furthermore, if you are interested in applying for a Montenegrin residency permit, the services of our lawyers are at your disposal. You can renew your temporary residence permit each year. Up to 30 days prior to the permit expiration, it's crucial to submit an application for a permit extension. Or you can also get in touch with our lawyers, they can guide you in detail on when to apply for an extension in residency.
Shareholders agreements in Montenegro
There are no special laws which regulate shareholders` agreements (SA) in Montenegro. In this case, the general rules regulating contracts are applied. The mutual rights and obligations of shareholders in Montenegro are regulated by company`s by-laws: Memorandum of Association and Articles of Association. There are no formalities to be complied with by the shareholders` agreements in Montenegro. These agreements can contain information about the rights and obligations of the company`s shareholders. Nevertheless, the Montenegrin law stipulates that all legal aspects related to shareholders are regulated by the Memorandum of Association (MoA) and Articles of Association (AoA).
If you need assistance for the procedures of company incorporation or consultancy in drafting a shareholders` agreement, please contact our law firm in Montenegro. Besides guiding you about the shareholders in Montenegro, you can also get comprehensive guidance in other matters from our lawyers. Like, if you want to apply for Montenegro citizenship, the services of our lawyers are at your disposal. Montenegrin citizens are privileged enough to visit 124 countries visa-free. If you are interested in taking this benefit to not apply for a visa for most countries around the globe, you can become a citizen of Montenegro.