The branch office must bear the same as the parent company, meaning it must operate under the same trading name;
the are no share capital requirements for setting up a branch office in Montenegro, however, the amount of money for the operations must be established by the parent company;
not only foreign companies can set up branch offices in Montenegro, but local companies can too;
the Montenegro branch office must complete the same activities as the parent company, compared to the subsidiary company;
from a taxation point of view, the branch office will be treated as a resident company only for the activities undertaken in Montenegro.
The name of the branch opened in Montenegro must contain the original name of the foreign company followed by the type of company and the termination “branch”.
Some of the documents which need to be prepared are:
• the name and the address of the newly established branch;
• the domain of activity;
• the name and line of business of the parent company;
• memorandum of association of the main company;
• the names of the legal representatives;
• balance sheet and financial evidence of the parent company.
These documents might require translation in as much as the foreign company will need an interpreter to deal with the authorities of the Montenegrin State.
1 Foreign company registration papers certified copy with translation
in the official language of Montenegro, certified by the sworn
2 Certified copy of the Foreign company’s Statute with certified
3 Copies of the latest financial reports /balance sheet and income
statement / of the Foreign company, with certified translation
DATA REQUIRED FOR LEGAL DOCUMENTS WORK OUT
1 Name and head office address of the Foreign company branchoffice in Montenegro
2 Name, address and legal form of the Foreign company
3 Foreign company branch office activity
4 Name and address of one or more members of the Companygoverning body/personal documents data
5 Name and address of one or more representatives of the Branchoffice/personal documents data
6 Name of one or more persons having permanent residence in Montenegro authorized to represent the Company in legalprocedures