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WHY INVEST IN MONTENEGRO

WHY INVEST IN MONTENEGRO

WHY INVEST IN MONTENEGRO

• Politically and economically stable, democratic, multicultural multi-religious society
• Active promoter of good neighborly relations and participant in regional cooperation
• Member of NATO since June 2017
• Candidate for membership of the EU (prospective membership by 2025)
• Member of the World Trade Organization (WTO) since 2012 (party to the Trade Facilitation
Agreement – TFA)
• Member of the World Bank since 2007
• Member of the International Monetary Fund (IMF) since 2007
• Euro (€) is the official means of payment
• Enjoying access to a market of around 800 million consumers owing to the free trade agreements
with the EU (Stabilization and Association Agreement), CEFTA, EFTA, Russia, Turkey and Ukraine
• “The Gateway to the Balkans”, thanks to its favorable geographical location at the Adriatic /
Mediterranean Sea (convenient access for trade via Port of Bar, good railway and road connection
to Eastern and Central Europe) and stimulating business environment

• 22 Agreements on economic cooperation in force with following countries: Austria, BelgiumLuxembourg Economic Union, Bulgaria, Czech Republic, Greece, Croatia, Hungary, Germany, Slovenia, Spain, Romania, Slovakia, Albania,
Argentina, Azerbaijan, Qatar, China, Republic of North Macedonia, Serbia, Swiss
Confederation, Turkey and UAE
• 23 Agreements on mutual promotion and protection of investments in force with:
Austria, Slovakia, Serbia, Czech Republic, Finland, Denmark, State of Qatar, Republic
of North Macedonia, Malta, France, Greece, Netherlands, Israel, Cyprus, Romania, Germany, Lithuania, Poland, Spain, Swiss Confederation, Azerbaijan, Moldova, and
United Arab Emirates
• Agreements on avoidance of double taxation in force with: Albania, Belgium,
Belarus, Bosnia and Herzegovina, Bulgaria, Czech Republic, Denmark, Egypt, Finland,
France, Netherlands, Croatia, India, Italy, Iran, China, Cyprus, Kuwait, Latvia, Hungary, Macedonia, Malaysia, Malta, Moldova, Germany, Norway, Poland, Romania, Russia, Slovakia, Slovenia, Sri Lanka, Switzerland, Sweden, Turkey, Ukraine, United Kingdom, Ireland, Serbia, UAE, Azerbaijan, Austria, Portugal. Recently signed with the Principality of Monaco
• Highest FDI per capita in the region since regaining its independence in 2006 totaling to over 9 billion EUR with investors from more than 125 countries worldwide;
• Since becoming full member of the NATO Alliance, investments from the Alliance countries in 2018 have grown by 64.1% Rankings of Montenegrin economy and
ease of doing business
• World Bank Doing Business Report 2018: (50/190)
• Moody’s: confirmed credit rating B1, retaining “positive” outlook.
• Standard&Poor’s (S&P): affirmed stable outlook for Montenegro, maintaining B+/B
rating
• Forbes Best Countries for Business: 72/160
• World Economic Forum’s Global Competitiveness Report 2018: (71/140)
• Global Innovation Index 2018: (52/126) MIBO, 4th Edition, July 2019
• Foreign companies enjoy the same treatment as national companies
• Foreign investors may invest in any industry and are free to transfer funds, assets and other goods, including profit or dividend
• Competitive tax system (general corporate profit tax and personal income tax is 9%, i.e. 11% for net wages above 720€)
• Incentives and tax reliefs for investment on both national and local levels, including in purposefully established Business and Free Trade Zones
• Simple procedure for creating a company (four days and founding capital of €1)
• Quality banking sector, with 13 private banks (no commercial state-owned banks)
• Qualified and affordable workforce: English widely spoken across professions and trades; average gross earning for 2018 €766/ net €511
• Increasingly popular tourism and lifestyle destination (“Wild Beauty” and “the Pearl of the Adriatic”) – One of the fastest travel growing destinations in the world, second fastest growing travel destination in Europe in 2017
• Favorable climate with annual average of 240 sunny days
• Geographical location with good accessibility – 2 international airports with year round and seasonal flights with most European capitals and towns and increasing number of flight connections with different regions of the world (including the market presence of low-cost carriers)
• Popular nautical / cruising / yachting destination (Port of Kotor, Port of Bar, Porto Montenegro, Porto Novi, Marina Budva, Marina Bar, Luštica Bay…)
• Fairly liberal visa regime

Rankings of Montenegrin economy and ease of doing business

• World Bank Doing Business Report 2018: (50/190)
• Moody’s: confirmed credit rating B1, retaining “positive” outlook.
• Standard&Poor’s (S&P): affirmed stable outlook for Montenegro, maintaining B+/B
rating
• Forbes Best Countries for Business: 72/160
• World Economic Forum’s Global Competitiveness Report 2018: (71/140)
• Global Innovation Index 2018: (52/126)

Development programme for Acquisition of Montenegrin Citizenship by Admission for Investment Purposes

• WHY INVEST: Apply for the development programme that provides the possibility to acquire Montenegrin citizenship on the basis of investments (launched on January 3, 2019)
• DURATION: 2019-2021 (three years)
• HOW MANY: maximum of 2,000 applications
• GOAL: To further accelerate economic development of Montenegro by creating new tourist, agricultural and processing industry and opening new jobs
• REQUIRENMENTS: Model of the special program is grant + investment. Grant refers to the amount of EUR 100,000 per application of an applicant, intended for development of under-developed local self-government units. Investment refers to the amount intended for investment in one of the development projects from the Development Projects List that is defined by the Government. The amount that a legal entity shall be obliged to pay is:
– at least EUR 450,000, for the purpose of investing in one of the development projects in the Capital City of Podgorica or the coastal zone of Montenegro; or
– at least EUR 250,000, for the purpose of investing in one of the development projects in the northern or central region of Montenegro, not including the Capital City of Podgorica.
• HOW TO APPLY: Only through official intermediary agents: „APEX CAPITAL PARTNERS“ DOO Podgorica „ARTON GROUP“ GmbH Austria; „HENLEY & PARTNERS GOVERNMENT SERVICES“ LTD Jersey.
• MORE INFORMATION: Secretariat for Development projects (www.srp.gov.me)

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