Time-consuming, expensive, month-long waiting periods for company formation and piles of documentation are not words that draw the attention of foreign investors and these words certainly never make potential investors feel calm and at ease with the momentous task of incorporating a new business in a foreign country.
Fortunately for us, the government of Montenegro is well aware of this fact. The government of Montenegro does not want to deter any entrepreneur from forming a company in Montenegro and, instead, wants an all-inclusive system that suits up-and-coming entrepreneurs as well as well-established business owners.
The government of Montenegro has cut all of the unnecessary corners to make the incorporation of a Limited Liability Company in Montenegro a quick, painless, and simple process – words that are far more attractive to potential foreign investors. A Limited Liability Company in Montenegro is one of the fastest companies to incorporate with the lowest cost and the most benefits.
The following documents are required for forming a Limited Liability Company in Montenegro:
- The company name;
- Notarized Articles of Association and Memorandum of Association;
- Minutes of directors and shareholders;
- The founder’s international passport;
- The registered address of the company;
- A list of all of the company’s members;
- The share capital, which is €1 as required by the country’s legislation. However, it can be greater than €1;
Each and every company is unique and may require additional documents to accompany the above list, however, these are the general required documents for a Limited Liability Company to be formed in Montenegro.
Once you have submitted the documents, the company will be established within 7 – 14 days. It is a simple matter of two short weeks that stand between you, the foreign investor, and operating your company in Montenegro. In the grand scheme of things, this is no time at all.
The cheap, fast and simple incorporation may cause skeptics to think about other areas which could be a potential risk to the foreign investor. One concern which can be raised is the amount of time and effort required on the part of the foreign investor. Most of the time, cheap and easy means that one will be required to do a lot of one’s own work. The requirement to fly to Montenegro to get the company started may put stress on your life in your home country which would make the venture of company formation in Montenegro less beneficial.
The government of Montenegro allows business owners to sign the Power of Attorney over to lawyers in Montenegro in order to set up your company on your behalf. Power of Attorney can also be withdrawn at any stage, minimizing the risks to you and your company. This leaves you with plenty of time to continue focusing on your daily schedule without time-consuming interruptions.
Forming an LLC could not be any easier. Pair the incorporation time with the numerous other advantages such as no minimum share capital requirements, the one shareholder and one director requirement, beneficial tax rates and advantageous VAT rates, and you will have a company set up to help you thrive.
It is no secret that Limited Liability Companies are the most common business entities established in Montenegro and there are few reasons you shouldn’t invest in your own company.