Set up Company in Montenegro

Any company in Montenegro which will be engaged in commercial activities must be registered with the Company Register. The procedures are simple, and well structured, and every entrepreneur must comply with them. The economical environment is benefic for foreign investment, the Law on Companies Act offering foreign investors the same rights as nationals.

Preliminary activities prior to registering limited liability and joint stock companies in Montenegro
Prior to registration the founders of a company must certify the company's founding agreements, and due to the fact that there are no public notaries in Montenegro, the founders must certify the company documents at the basic court and at municipalities. Also it is important that the name of the company is unique, and it should be verified and registered with the Company Registry in Montenegro. Before registration the founders must obtain a company seal or stamp, which is an important instrument in company legal transactions. Another important procedure is obtaining a statistical number and a general tax registration number. In order to obtain them the founders must provide an application form signed by the company representative, copies of registration documents, certificate on the company identification number and bank account.

Registering limited liability and joint stock companies with the Chamber of Commerce in Montenegro
The representative of the company in Montenegro must fill an application form with the significant information of the company and with the application he or she must submit the articles of association, the company charter, legal address, and capital information and identification data on the managing board. The procedure is free of charge and finished in one day.

Registering with the Employment Bureau, health fund and pension fund
Another important step in establishing a company in Montenegro implies registering with the Employment Bureau since the first day that an employee begins his or her activity. The procedure is done through an application form containing information on the company and identification data of the employee. Simultaneously with this procedure the founders must register for health and pension fund.

Setting up a company in Montenegro from abroad
The state of Montenegro welcomes foreign investments in most of the domains available. The government offers the same treatment with no discrimination and there is no restriction as to the currency used. The Montenegrin Law on Foreign Investment guarantees that foreign investors can establish and run a business under the same conditions as Montenegrins. Also there are no restrictions to repatriation of the profits. A company in Montenegro may be established without physical visit of a manager, but needs a representative in the state to carry on the establishment procedures.

How long does it take to establish a company in Montenegro?
Almost every procedure is completed in maximum two days time, except registration with the Chamber of Commerce which can take up to five days. The process is simple, but requires compliment of every procedure. A Montenegrin company is established in approximately two weeks, but may take less.