Montenegro: economic attractiveness and growth

Montenegro is a state in south-eastern Europe, on the Adriatic Sea. The capital and largest city is Podgorica.

Advantages of using Montenegro as your jurisdiction of choice

1. EU candidate country
2. Euro is the official currency
3. Low-tax country
4. Promotion of economic citizenship programs
5. Corporate directors allowed
6. Any residency for company directors
7. Conducive business environment
8. Foreign capital inducement programs

Company Type

A limited liability company (DOO) is the most reliable form of company for offshore purposes. If a foreigner is appointed to the position of company director, he or she has to obtain a work and resident permit.

What documents will you receive upon company registration?

• Certificate of Incorporation
• Tax Registration Certificate (PIB number)
• Memorandum and Articles of Association’
• Company Seal

Taxation and statutory requirements at a glance

Taxation

Corporate tax rate is 9%.
Withholding tax rate on dividends is 15%.
VAT rate is 17% (for annual turnover more than €18,000).
VAT reduced rate of 7% is applied to basic foodstuff, medical supplies and textbooks.
Income tax rate is 9%.
Annual wealth tax rate on real estate ownership varies from 0.1% to 1%.

Accounting, audit and filing requirements

A company must keep accounting records and file reports annually.
Tax return filing deadline is March 31.

Please do not hesitate to contact us if you are interested.

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Eva PetrovskaMontenegro: economic attractiveness and growth