Montenegro is a small country that is located in South East Europe on the Balkan peninsula, the region of wine and tourism. The country that only has close to 650 000 inhabitants might not look as the perfect place to move your company or create your start up company. This is not the case as Montenegro has a booming economy, one of the fastest growing ones in this whole region. Its economy has been steadily rising since the early 2000s and it is still growing in spite of the COVID-19 outbreak. We are here to present to you the best ways to do business in Montenegro and the great things that this country has to offer for your company, so let us begin.
Implementing reforms to make the country more attractive for investments:
Montenegro has been implementing reforms that are in accordance with the EU regulations and that are in line with other free market capitalist based economies. The legislative body in Montenegro has been removing the inadequate and slow bureaucracy which was a left over from the socialist government which ran the country in the past. There are still some impediments, but they are being removed constantly, one by one. The reforms are being implemented in order to make the country more attractive for foreign investments and foreign companies.
100% foreign ownership
One of the most important business-related features in Montenegro is that there are no distinctions between foreign and domestic owned businesses, thus there are no limitations to ownership of foreign companies, which especially benefits foreign companies that wish to invest in multiple and different kinds of projects. Foreigners can own 100 % of the company and the profits can be repatriated without any imposed limitations or restrictions. The state is a member of the NATO, which ensures security and stability of the country. Another important feature is that Montenegro has been a member of the Schengen Zone since 2009, thus enabling visa free travel to the most EU member states.
Low tax rate
The tax rate for companies is 9 % and one of the biggest advantages is that the revenue can be transferred to another country at the end of the year, if the corporate subject had already paid the income tax.
Over 5000 foreign companies operating in Montenegro
Over 5 000 foreign companies are operating in Montenegro which come from 107 different countries, most prominently from Norway, the UK, Italy, and Austria. Another important thing is that Montenegro has one of the highest Foreign Direct Investment in the region, which is 860 euro per capita. This data shows that Montenegro is a desirable location for companies from multiple countries.
We believe that all of these reasons show you that choosing this small South East European country is the best way to improve your business , thus improving your profits and the lives of yourself and your employees. Hopefully, you will find Montenegro to be a well suited country for all your business needs.