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Incorporate in MONTENEGRO.

Learn why Montenegro is the best place to set up your new company.

Incorporate in Montenegro

Understand the benefits, requirements and procedure for incorporating and operating a company in Montenegro.

Taxes in Montenegro

Learn how Montenegro’s low personal and corporate taxes can benefit you and help you grow your company faster.

  • An overview of Montenegro’s tax system
  • Montenegro corporate tax guide
  • Montenegro double tax treaties guide
  • Tax on foreign-source income in Montenegro
  • Guide to personal taxes in Montenegro
  • Goods and services tax in Montenegro
  • Withholding tax in Montenegro
  • Taxation of non-resident directors in Montenegro
  • Double Tax Avoidance (DTA) agreement

Montenegro Company Law

Learn about the legal obligations of a Montenegro company, including the duties of its directors and shareholders.

  • Overview of the legal structure of a Montenegro Company
  • Choosing a name for your company
  • Recommended format for constitution of a Montenegro  company
  • Advantages of a limited liability company structure
  • Audit exemption for small Montenegro companies
  • Compliance requirements for foreign company branch in Montenegro
  • Duties of Montenegro company directors
  • Duties of a Montenegro company secretary
  • Registers that a Montenegro company must maintain
  • Rules for conducting company meetings
  • Record-keeping requirements for company meetings

Relocating to Montenegro

Learn about various immigration visa options for relocating to Singapore and the quality of life in the country.

 
  • Montenegro relocation visa options
  • Quality of life in Montenegro
  • Montenegro Employment Pass – visa for executives and professionals
  • Personalised Employment Pass – visa for highly qualified professionals
  • Entrepreneur Pass in Montenegro – visa for government approved startups
  • Options for gaining Permanent Residence in Montenegro
  • Global Investor Program (GIP) – visa for wealthy investors

Montenegro Business Laws

Become familiar with laws that will impact the day-to-day operation of your business in Montenegro.

  • Introduction to Montenegro’s legal system
  • Contract Law in Montenegro
  • Employment Law in Montenegro
  • Intellectual Property Law in Montenegro
  • Competition Law in Montenegro
  • Personal Data Protection Act of Montenegro
  • Montenegro’s Defamation Law
  • The Electronic Transactions Act in Montenegro

Incentives and Grants

Incentives and Grants
Explore the tax incentives and government grants available to Singapore-registered companies.

  • Tax Incentives available to all Montenegro companies
  • Sector-specific incentives for  Montenegro companies
  • Market Readiness Assistance (MRA) – grant for overseas expansion
  • Incentives available to promote mergers and acquisition
  • Global Trader Programme – incentive for large trading firms
  • Finance and Treasury Centre incentiv
  • Government and private funding sources for startups in Montenegro

How to register a new company in 10 simple steps

It’s now really easy to register a company – long gone are the days when you had to file paper forms, wait weeks for approval and pay a princely sum for the privilege.

In this guide, we look at the step by step process of how to register a company. So if you have a new business in mind and want to join over 15,000 people a year turning their ideas and enthusiasm into a new Montenegro  limited company registered with Companies House, read on and learn how easy it can be.

Who Can Set up a Business in Montenegro

Any foreigner or foreign company can start a business in Montenegro; in general there are no restrictions.

Register a new company

Check the information needed

Few things to know before starting a business in Montenegro

1. Decide if it’s really a limited company that you need

One of the most prevalent forms of companies in Montenegro is the limited liability company (DOO). Nowadays, the LLC is particularly relevant for the reason that the foreigners can become land owners in Montenegro only being in the status of a legal entity for some time now.

But before going any further, give a little thought to whether a limited company is the best form for your business to take.

A private limited company does have a number of important advantages – possessing most of the legal rights of an individual and offering substantial protection to shareholders from the liabilities of the business. But there’s also a need to maitain company records and file accounts and other documents with.

f you want more information, check out our article about why so many people form limited companies for their business.

2. Choose a good company name

Choosing a name for your business is a crucial step. You want to make sure it is understandable and conveys what you do, while also being catchy enough for people to remember. It can take time to find just the right name.

Once you decide on a name, you need to register it so that your company’s identity is protected.

Registering your business name is an important step and one that offers a variety of protections. Taking this step formalizes your business and helps ensure no one else can use your name.

Choosing a name for your business is a crucial step. You want to make sure it is understandable and conveys what you do, while also being catchy enough for people to remember. It can take time to find just the right name.

Once you decide on a name, you need to register it so that your company’s identity is protected.

To avoid confusion, state laws prohibit two companies from having similar names, so think of a few options you are willing to use in case your top choice is unavailable.

Registering your business name is an important step and one that offers a variety of protections. Taking this step formalizes your business and helps ensure no one else can use your name.

3. Assemble the details needed to register the company

There’s several pieces of information that you’ll need to have available in order to register a new company. You can refer to our new company registration checklist for the full list, but the information needed mostly relates to the following:

  • A Monteengro registered office address– to which Companies House will direct official mail and which appears on the publically available company record
  • What the company plans to do – at least one SIC codedescribing the anticipated activities of the business must be provided
  • Details of the share capital to be created – for a private company limited by shares, at least one euro.
  • Company director and – there must be at least one human director aged at least 16 for a new private limited company
  • Initial shareholderdetails – there must be at least one initial shareholder, who can be the same person as a company director

For each shareholder, as well as basic details you’ll need a few pieces of identifying information for security purposes – any of the person’s National Insurance number, eye colour, telephone number, mother’s maiden name, father’s first name and passport number.

Details of people with significant control over the company must also be provided. These may include anyone with more than 25% of the shares in the company or other individuals or relevant legal entities.

4. Prepare Memorandum and Articles of Association

The memorandum and articles of association collectively make up the constitution of the company.

By completing the memorandum of association, which is a short document which tends to include a number of standard clauses, the subscribers to the initial shares confirm their agreement to start a company. The memorandum of association must be filed with Companies Selecta as part of registering a company.

The articles of association are the “rule book” of the company, defining how the company is to be run by the directors on behalf of the shareholders. A great number of companies adopt the private company Model Articles which cover most circumstances. If there are unusual requirements the company can instead adopt bespoke articles – in those cases, it’s worth seeking legal advice.

The memorandum and, in the case of bespoke variants, the articles of association must be filed with Companies House when registering the company. This can be done electronically rather than sending paper copies and a system like Inform Direct will create, fill in and send these documents automatically.

For those bravest souls who want to read more about these documents, in another article we look in detail at the memorandum and articles of association.

 

6. Wait for the company formation to be approved

You can’t start to operate the business as a limited company until you receive approval from Companies House, who will undertake some checks of the information you’ve submitted.
If you register a new company using online , the process of approval will take longer.

7. Set up company registers (and then maintain them)

The law requires each company to set up and then maintain company books, which include:

You can buy template paper registers to fill in by hand. Better still, straightforward online products like Inform Direct will automatically update electronic statutory registers whenever you made changes to the company, its officers and shareholders.

8. Other tasks to do once the company has been registered

There’s a number of other important tasks you’ll want to consider once the company has been successfully registered, which might include:

  • Setting up a bank account
  • Registering with HMRC, which may include registering for VAT
  • Registering and setting up PAYE for employees
  • Setting up a website, particularly if you want customers to find you online
  • If it’s important to your particularly business, registering a trade mark

If you’re looking to register a new company, we hope you find it a rewarding experience. Whether you’re starting your first company or are a company registration veteran, we’d love to hear any ideas and tips: contact us with details and we’ll look to share them with other readers.

Find out about the various business structures available in Montenegro and how to get a venture started…

Who Can Set up a Business in Montenegro

plakataAny foreigner or foreign company can start a business in Montenegro; in general there are no restrictions.

Types of Business Structure

There are four ways for foreign individuals and entities to set up a business in Montenegro:
  1. Limited liability companies
  2. Joint stock companies (two types: closed and open)
  3. Branch or representative offices of foreign companies (the former can be engaged in commercial activities, while the latter cannot)
  4. Individual entrepreneurs (a foreign citizen can register with this status only if they have a temporary or permanent residence permit)

The Legal Process

Below is information about the legal process and procedures for setting up a business in Montenegro.

Authorities involved

  • Notary (certifies the application for registration)
  • Tax authority (where the application and other documentation are submitted for registration of a company)
  • Statistics committee (this committee assigns codes based upon its determination of the company’s activities)
    Now Is The Time To Invest In Montenegro

    Now Is The Time To Invest In Montenegro

     
  • Social funds (pension and social insurance)
  • Federal service on financial markets (in the case of a joint stock company because it registers the issuance of shares)
  • State registration chamber for registration of branches and representative offices
 

Required documents

For limited liability companies and joint stock companies:
  • Resolution of the founders to incorporate
  • Charter of the company to be founded
  • Application for state registration
  • Extract from the trade register or certificate of incorporation and charter (by-laws, articles of association) of the founding company (in case the founder is a legal entity)
  • Copy of the passport (in case the founder is a natural person)

For representative offices or branches:

  • Extract from the trade register or certificate of incorporation and charter of the foreign company
  • Resolution on the opening of the representative office or branch in Montenegro
  • Regulations on the representative office or branch
  • Power of attorney for the head of the representative or branch office

More information:

To learn more about starting or buying a business  http://www.companyformationmontenegro.me/

If you need some more info, e-mail us selecta.me@gmail.com 

Mob: 00382 69 590 433

   

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

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