Start a Business in Montenegro

Draft and notarise the founding act

Prepare the founding act and articles for the DOO and have signatures notarised in Montenegro or via apostille from abroad

Register the company at CRPS

Submit incorporation file to the Central Registry of Business Entities; registration includes tax and statistical numbers in one filing

Apply for sector licences if regulated

Tourism, construction, banking, insurance, and gaming require approvals from the relevant ministry or regulator

Open a corporate bank account

Open a EUR account with a Montenegrin bank; bring articles, registration certificate, and beneficial owner KYC pack

Register for VAT if turnover exceeds EUR 30,000

VAT registration becomes mandatory once 12-month turnover crosses the threshold; voluntary registration is also available

Evaluate northern Montenegro tax holidays

If locating in an underdeveloped municipality, model the 8-year corporate tax holiday and wage subsidies against logistics costs

Plan for euro adoption stability

Montenegro uses the euro unilaterally; this provides FX stability but no ECB lender-of-last-resort access for local banks

Set up payroll and social contributions

Register each employee with JPR forms; employer contributes 5.5%, employee 15% on top of progressive income tax (9-15%)

Engage a Montenegrin accountant

Annual financial statements must be filed with the Tax Administration; appoint a local accountant familiar with Montenegrin GAAP

Apply for residence permit as a business owner

Founders and directors qualify for temporary residence by company ownership; renewable annually and leads to permanent residence after 5 years