Montenegro has two international airports, which provide regular connections with Europe. Also, the country can be entered by car from different directions. Most roads have two lanes and a lot of them have improved in the recent years after the Sozina tunnel was finished. Also, the part of the Belgrade-Bar railway in Montenegro is the main railway of the country, being opened in 1979. In this article, our lawyers in Montenegro
analyze the Transportation Law in Montenegro
The compulsory insurance contract in Montenegro
According to the Law on Compulsory Transport Insurance
, owners and users of a type of transport for passengers in public transportation and the owner of other types of transport means must sign an obligatory insurance contract with the insurance corporation
or a part of a foreign insurance corporation.
These insurance companies must be licensed by a regulatory authority for the obligatory insurance supervision.
The insurance contract has to be renewed for as long as the type of transportation in Montenegro
is being used. Our attorneys in Montenegro
can provide further details on this matter.
The responsibility of the insurance company mentioned in the insurance contract has to start upon the expiry of the 24th hour of the date which was listed in the insurance documentation as the date in which the insurance started.
Taxation for transport companies in Montenegro
The profits deriving from transportation in Montenegro is subject to taxation in this country.
The tax base of the taxation on the profits derived from passenger and other motor vehicles, vessels, airplanes and aircrafts are calculated at the market value at the date when the tax obligation arises.
The appropriate tax body has to check the market value reported in the documents on an acquisition. In case the results of this verification are reported at a value which is not realistic, the tax base is established based on an assessment.
Transport insurance contracts for one or more years in Montenegro
For the insurance contracts which are signed for one or more years, the rights and responsibilities resulting from the insurance contract have to be extended after the expiration day of the insurance contract for 30 days. Our Montenegro lawyers
can offer more details on this subject. Our law firm in Montenegro
can also help entrepreneurs who are interested to open a company in this country.
Exception to this rule are the cases when the insurance company has not been issued a statement from the user or owner of the transport means with minimum three days before the expiration date of this insurance declaring that he or she does not agree with the extension of the insurance contract.
If you have more questions about the Montenegro transportation
, or for legal advice concerning conducting a business in this country, please contact
our Montenegro law firm