Open a company in Montenegro in 10 steps

Most people live their whole lives in the country in which they were born.But there are good reasons to look around the world and see if your business might be better elsewhere.

Are you looking for the best country to start a business?

To establish a company in Montenegro, you must have a passport, one euro start-up capital and come to Montenegro for one day to sign the documentation.

Simple, isn’t it?

Key Factors about Montenegrin company incorporation

There are three key factors you need to know about founding a Montenegrin company

Foreigners can incorporate a Montenegro company with 100% shareholding.

A foreigner can become a foreign director in his company in Montenegro

In case you do not have a permanent director, we can offer you an appointed director who will fulfill this legal requirement

Here's what you need to start your company

Procedure for Company Registration in Montenegro

We will walk you step by step through every aspect of starting a business

Suggest a company name.

 We will check if the name is free.

Send e-mail the following information:

The chosen name of the company — This can not be the name of any other company which is already registered in Montenegro.

The registered address — The registered address of the company must be an address located in Montenegro which is necessary for domicile purposes. If necessary, we can provide our clients with services with a registered address in Montenegro.

Information on Shareholders — The minimum number of shareholders that a private company may have is one, which in such case would be referred to as a single-member company. In the case of more than one shareholder, details as to the amount of shares they will hold would need to be included. Furthermore, under Montenegro law, there are no restrictions on the nationalities of directors or shareholders.

Information on Directors — The minimum number of directors that a private company may have is one and there is no maximum amount. Details of directors must be given including their name, address, and ID or Passport number.

Objects of the company — The objects of the company must explain the company’s purpose and detail its main trading activity.

Share capital — The minimum authorized share capital under Montenegrin law is EUR  The shareholder’s personal liability is limited to the amount of unpaid share capital. The share capital amount must be deposited in a Maltese bank account under the name of the company in formation. Also, the share capital must be denominated either in Euros or any other currency.

Legal and Juridical Representation — The Memorandum and Articles of Association must state who will be vested with the legal and juridical representation of the company. This is generally vested within the directors of the company

Preparation of documentation

By the information you send us, we will prepare documentation

Come to Montenegro for a day.

What are we doing in Podgorica?

  • One hour, to review the documents
  • One hour, to verify the documents by Public notary
  • One hour, contact with accountancy service

Company registration procedure

Once the name has been approved and if all duly signed registration papers have been established, the company can be registered within 4 days of submitting the application for registration.

The company was registered after 4 days. You get the following documents:

  • complete documentation of Registration (Decision (Agreement), Statute and other forms)
  • Registration of firm at Central Register Commercial Court, Podgorica
  • tax identification number from Tax Administration (TIN)
  • VAT from Tax Administration
  • customs code from the Customs Administration
  • Seal of firm
  • Fees for Notary certification and Court fees

Post Registration Requirements

What should I do after successfully registering my Montenegro company?

Request a Residence Permit

If you are a director of a company, you are required to obtain a residence permit.

If you are interested, We can choose an appointed local resident director on your behalf – visit our services page to find out more.

Open a bank account

After successful registration of your Montenegro company, you can open a corporate account in any of the largest banks in Montenegro.

Every Montenegrin bank requires the physical presence of the company’s director as part of the account opening process. If you are unable to visit Montenegro, you should find a local director. For more details, see our guide to opening a corporate bank account in Montenegro.

Find a bookkeeper

You may need to apply for one or more business licenses for some business activities such as:

include educational institutes, banks, insurance, restaurants, travel agencies, financial services, import / export related industries, etc. For more information, see our guide to business licenses in Montenegro.

If your company's estimated annual income exceeds 30,000 euros, you must register for goods and services tax (VAT), which in other countries is known as value added tax or sales tax.

Companies registered for VAT should charge this tax to their customers on goods and services provided and remit that amount to the tax authorities. For additional VAT details, see our guide to VAT in Montenegro.

Annual requirements and formalities for registered Montenegrin companies.

For more details on this, see our guide to annual application requirements for Singapore companies.

PRICE LIST

Choose the right Montenegro Company Incorporation Packages that works for you

Opening a company

550EUR

  • Reserving your Company Name
  • Liaising with the registrar in Montenegro and relevant authorities
  • Structuring the company as per your requirements
  • Prepare your Company Registration Forms
  • Drafting the Articles of Association / Statutes
  • File the documents with the Registrar of Companies
  • Appoint the Directors
  • Initial Government licence fee payable on incorporation
  • Certificate of Incorporation
  • Issue of shares and production of Share Certificates
  • Memorandum and Articles of Association
  • Certificate of officers, Certificate of registered office address
  • Certificate of Shareholders and Share Certificates
  • Government Fees
  • All documents and certificates supplied in a professional folder
  • Delivery of documents by FedEx / DHL courier

Residence Permit

870EUR

  • They advise you on applying for a residence permit
  • They advise you on any legal issues that may arise during the application process
  • Registration of the applicant in the Tax Administration of Montenegro, including obtaining a tax identification number 
  • Draft all documents required to obtain a security clearance from the competent police headquarters
  • Gather from you all the necessary documents and information regarding the application for a residence permit
  • Pay on your behalf all out-of-pocket expenses related to the residence permit application
  • Apply and monitor the application for a residence permit until the issuance of a residence permit
  • Attend meetings and conference calls regarding residence permit

Opening a bank account

300EUR

  • Profile assessment
  • Alternatives review with client 
  • Bank-requirements & Identification documents overview
  • Prevalidation (if applicable with selected bank)
  • Preparation of the application forms including in local (non-English) language
  • Organisation of the bank-client live or video meeting (if applicable with selected bank)
  • Lodging of the full application & follow-up on pending application
  • Coordination of communication between the bank and the client in the event of additional questions

Montenegro company registration steps without visiting Montenegro

A foreigner can have every Montenegro company incorporation procedure facilitated without having to travel to the country. Professional company incorporation agencies come in handy. You can send the agency the relevant details/documents via email. Payments can be made via PayPal or bank transfers.

An agency handles the paperwork, sends back original documents for you to sign then you can send them back via courier. The only time you might need to be physically present is during the bank account opening formality though it depends on the bank you select.

As a foreigner, there are some factors to consider in this context:

  • The law requires you to engage a professional agency when registering your business
  • You don’t need to apply for special visas if you wish to manage the company from a different country. However, you can use a visitor visa if you need to attend to critical business matters in Montenegro. When in the country, you’ll need to operate with a local director. Most professional agencies can appoint a nominee local resident director
  • If you plan to relocate and manage the company in Montenegro, you’ll need to apply and qualify for an Employment Pass or Entrepreneur Pass. With the passes, you can act as the local resident director for your company

Remote incorporation is ideal for those who want to run their business from overseas. 

Steps that you must follow for the successful establishment of companies with remote Montenegro.

Step 1

We will prepare a POA for you. All you need to do is legalize or apostille and send us the original copies

Step 2

We will translate it, legalize it, and certify it in the state of  Montenegro.

Step 3

Completion of company registration. We will prepare all the documentation in your name and register the company in Montenegro. You will be a 100% founder and CEO of the company.

With our online system, we can incorporate your company without being in Montenegro. We can perform all necessary tasks remotely.

However, please note that Montenegro banks will require you to visit Montenegro and meet with them face to face to open a corporate bank account. To establish a bank account, most of our customers plan a visit to Montenegro after incorporating the company.

Frequently asked questions about company registration in Montenegro

The registered address must be a physical address in Montenegro, ie. physical location, not just a mailbox.

The residential address can be used as a business address within the home office scheme. However, prior approval must be obtained in order for residential space (owned or rented) to be used for a home office.

The minimum investment required by the authorities is a paid-in capital of EUR 1 at the time of registration of the Montenegrin company.

A Montenegrin private limited liability company is not required to appoint a company secretary.

Paid-in capital is the total amount of capital financed by shareholders. This is the amount of money the company received from shareholders who paid in full for their purchased shares. The minimum paid capital requirement for the establishment of a company in Montenegro is 1.00 EUR.

A company registered in Montenegro must keep accounting records, as well as any other document that can explain the company’s business transactions and financial position for at least five years after the completion of the transactions or operations to which they relate.

You can start a company in Montenegro with a minimum paid-in capital (often called share capital) of only 1 EUR.

However, you must keep the following in mind:

If the company’s business is regulated (e.g., travel agency, employment agency, financial services, insurance, etc.), the minimum paid-in capital will be dictated by the appropriate licensing requirements.

Paid-in capital can be denominated in dollars or any other currency, although the euro is the currency of choice for convenience. Whatever capital you specify is treated as paid-in capital and you will be required to contribute that amount to the company. The paid-in capital of the company can be freely used for the needs of the company. There is no requirement that this money be locked in a bank account for any specified period of time.

If you want to specify a paid-in capital greater than the minimum of 1 EUR, you have two options:

Option 1: Specify the higher paid-in capital at the time of incorporation

Please note that any amount of paid-in capital you specify will need to be deposited into the company’s bank account. Therefore, if you wish to indicate a paid-in capital of more than EUR 1 at the time of incorporation, we will ask that you first deposit that money in a bank on a temporary account. After opening your company’s bank account, we will transfer the paid-in amount of capital to your company’s bank account.

Option 2: Increase paid-in capital after company registration

You can increase the paid-in capital at any time after registering the company. In this case, the procedure is as follows:

  • Include a company with a minimum share capital
  • Open a corporate account
  • Inject the funds into a bank account
  • Prepare documents for the increase of share capital
  • Submit documents to increase the share capital to the authorities

We will then prepare and submit the necessary documents to the company registrar to reflect the audited paid-in capital of the company. Please note that additional work to be performed for items 4 and 5 will be charged.

Most of our clients prefer option 1 because it does not cost extra and is faster. Your paid-up amount of capital is deposited into a special ‘Customer Deposits’ account with the bank and is immediately transferred to your corporate bank account when it is opened.

Let us know which option you prefer.

The first step in the company registration process in Montenegro is to reserve the desired name for the company. A company cannot be registered until the name is approved first. If the name does not conflict with the existing name and does not contain sensitive or offensive words, the approval process is very quick and happens in less than 4 days.

After you hire our company, we will immediately apply for name approval before preparing the founding documents. After applying for name approval, the Company Registrar will usually notify you of the outcome of the application within one hour. Three possible outcomes are listed below:

Outcome 1: Name approved

If the name is approved, we will proceed with the next steps of founding the company.

Outcome 2: Name is Rejected

If the name is found to be similar/identical to an existing name or containing non-desirable keyword(s), the name will be rejected by the Company Registrar. If the name is rejected, there are two available options:

If there is a solid reason why the name should be approved, an appeal can be submitted to authorities by providing proper justification. The name appeal make take 3-5 days for processing.

Submit another name for approval

No. The local resident director may be a foreigner.

The director must be a natural person over 18 years of age. Corporate directors are not allowed. There are several different ways you can meet a local resident director’s request:

If you are planning to move to Montenegro to run your company, you will need to apply for a residence permit. Once you have been granted a work visa, you can open a bank account.

If you have a local partner or know a trusted person in Montenegro who is willing to act as a local director, your problem is solved.

Most foreign entrepreneurs and companies that establish a Montenegrin company without moving to Montenegro use a local director. The local director does not require any stake in the company and is not involved in the company’s business or banking matters. For more information about our appointed director service, see the local director services FAQ.

Yes, Montenegrin company law allows 100% ownership of Montenegrin companies by foreign persons or entities. There are also no restrictions on the type of business activities a company can engage in. Aliens do not require special approvals. In other words, there is no difference between a local or a foreign person who wants to start a Montenegrin company.

The directors and shareholders of the Montenegrin company must be at least 18 years old.

The actual establishment of the company can be achieved within 4 days as the whole process is computerized. However, the whole process can take a bit longer depending on the following factors:

Reservation names. Before a company can register, it must first reserve its name. Assuming no objection to the proposed name, the name reservation process can be completed in less than an hour. However, if the name conflicts with an existing name or if the proposed name contains some sensitive words that may require review by the competent authorities, the name approval process may be delayed for several days or weeks.

Signing of founding documents. If you are in Montenegro, this is a quick and easy procedure. However, if you are abroad, the logistics involved in signing and sending the signed documents jcan take several days.

More questions? Let us take you further

These Montenegrin business guides can be useful in making your decision:

More questions? Let us take you further

These Montenegrin business guides can be useful in making your  

Do you need guidelines for involving your company in Montenegro? Learn more about our registration services or contact our experts.

I am Milenko Velimirovic, Licensed Management Consultant; Owner of Business Consulting Company Select; President of the National Association of Business Consultants of Montenegro; Member of several international consulting organizations.
Milenko Veliirovic
Business consultant

If you believe a company in Montenegro can help you in your business, please ask for details. We will be happy to advise.

selecta.me@gmail.com

+382 68 355 501 viber – whatsApp

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