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Montenegro investment and business opportunities

 

EASE OF DOING BUSINESS

 

  • Foreign companies have and 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.
  • The investors implementing investment projects in Montenegro are eligible for the financial incentives approved by the Government of Montenegro.
  • Competitive tax system (general corporate profit tax and personal income tax is 9%) . Incentives and tax reliefs for investment on both national and local levels, including in purposefully established Business and Free Trade Zones.
  • The term “foreign investorapplies to a company that has been set up in Montenegro by a foreigner, or foreign legal entity, whose share of investment capital is higher than 25% of total capital invested.

 

TRADE , TAX AND INCENTIVES

 

  • As of December 1, 2018, Montenegro has 43 effective double taxation conventions on income and capital.
  • There Is No Limit On The Amount Of Capital Invested In Montenegro.
  • 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 tax system for foreign investors is the same as for local business entities.
  • Corporate income tax is flat 9% and it is one of the lowest in Europe, while the tax rate on personal income is 9% or 11% (applicable on gross monthly wages above €765). Upon payment of the corporate income tax, business entities operating in Montenegro have the possibility to transfer funds to their accounts abroad at the end of the year.

 

 

REGISTER COMPANY IN MONTENEGRO

 

  • The deadline for registration with the Commercial Court is a maximum of 4 days, while other duties (statistics – company registration number, entry into the tax records, opening a current account, registration in customs records) are completed within a maximum of 3 days.
    Simple procedure for creating a company(four days and founding capital of  €1)
  • Foreign legal and natural persons have the right to establish a company in Montenegro under the same conditions as nationals. The most common forms of companies are:▪ limited liability company (LLC)    
    joint stock company (JSC)

 

 

LICENSE ISSUING

 

  • REQUIREMENTS FOR ISSUING LICENSE
    Intermediary Agent and International Due Diligence Agent  are:

    • Not to be sentenced in Montenegro or in another state by a final and binding court decision or have a criminal case.
    • Three year has preformed the same or similar activites in at least three countries on the basis of a contract or license.
  • LICENCE VALIDITY PERIOD AND COST
    One year validity period and may be extended twice for a period of    one year per extension.
  • The license for an International Due Diligence Agent is free of charge.
  • The license for an Intermediary Agent is 50,000 € annually.

 

 

 

 

 

INVESTING AND BUSINESS STIMULATION

 

  • The funds to incentivize investments are allocated following a public announcement. Eligible investment projects include those of
    minimum worth of €500,000 which will generate at least 20 new jobs over the course of three years, from the date of signing the
    agreement on the use of funds.
  • (in the Capital City and the southern region)
  • Investing €250,000, which generate at least 10 new jobs
  • (in the northern and central region, excluding the Capital City)
  • In addition, any capital investment in excess of €10 million and generating at least 50 new jobs is eligible for incentives
  • of up to 17% of its worth.
  • The Decree envisages the possibility to reimburse the costs of construction of the infrastructure required to implement
  • the investment project.

 

 

INVESTMENT OPPORTUNITIES

 

  • The website www.investmentlocations.me provides detailed information on investment opportunities for specific locations in all 23 municipalities of Montenegro. The website also contains information on the overall investment environment and incentives and financial reliefs available to investors, including relevant contacts.
  • The website www.bizniszona.me provides detailed information about the locations
    declared as Business Zones in Montenegro, including their real estate and
    infrastructure potential and incentives offered to prospective businesses

 

 

 

 

 

 

 

 

 

TOURISM AND HIGH-END INVESTMENTS

 

  • Tourism is the most dynamic sector in Montenegro with investment opportunities in the   
    construction and operation of high-end hotels, congress centres, resorts, golf courses,
    upscale shopping centres, entertainment facilities, etc.
  • With the aim to eliminate business barriers and incentivize high-end tourism, the Law
    Amending the Law on Real Estate Tax allows local governments to lower the tax rate for
    the hospitality establishments that operate throughout the year by up to 30% for the 4-star
    ones and up to 70% for those with more than 4 stars.

 

 

 

 

 

 

 

 

 

 

 

AGRICULTURE AND PRODUCTION

 

 

 

ENHANCING DEVELOPMENT

 

 

MAIN CONTACTS AND USEFUL LINKS

 

  • Government of Montenegro: www.gov.me Twitter: @MeGovernment
  • Ministry of Foreign Affairs: www.mvp.gov.me Twitter: @MFA_MNE
  • Economic and Cultural Diplomacy

http://www.mvp.gov.me/rubrike/ED/Ekonomska-diplomatija/

  • Embassies and Consulates of Montenegro:

http://www.mvp.gov.me/en/sections/Missions/Embassies-and-consulates-of-Montenegro/

  • http://www.mipa.co.me/dcs/THE_FOREIGN_INVESTMENT_LAW.pdf
  • Chamber of Economy of Montenegro: www.privrednakomora.me/en
  • Central Bank of Montenegro: www.cb-cg.org
  • Montenegro e-tenders: http://www.etenderi.me/
  • Association of Banks in Montenegro – http://ubcg.info/en/

 

 

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Beauties of Montenegro

“At the moment of the creation of our planet, the most beautiful merging of land and sea occurred at the Montenegrin seaside” Lord Byron

Montenegro is a independent country placed at the southeast of Europe on Balkan peninsula. Whit one of a kind Adriatic seacoast, beautiful lakes, rivers, five national parks, and enormous mountains this little but exquisite country is surrounded by Albania Serbia Bosnia and Hercegovina and Croatia. The capital city is Podgorica and city  Cetinje is  Old Royal Capital.

 

With protected forest ecosystem, authentical natural complex, fresh spring waters,  clean air, over 50 protected plant species and 320 animal species Montenegro holds almost a quarter of flora and fauna combined in one place in Europe.  As a land of natural rarities our country has most beautiful south located glacier origin bay in the world, Boka Bay, deepest and longest river canyon Tara, also cleanest river in Europe and the biggest and most characteristic lake in this part of Europe, Skadar lake.

Boka Bay, Unesco world heritage since 1979, have historical cities of Kotor, Risan, Perast, Herceg Novi and more than one thousand churches around the hills, and small islands.  As one of the main ports for all Mediterranean sea cruise ships, yachts, sailing boats, it provides a diverse spectrum of historical monuments, nature, long history carnivals, local food, and drinks.

 

 

Part of the bay is also Tivat city, with an airport and  ,as European news writers say, New Monaco of mediteran coast, Porto Montenegro, a luxury compound and yacht club who lures worlds elite and jet set and also there is Lustica Bay whit same features as Porto.

Next in line comes city Budva, tourism metropolis of Montenegro, full of cultural happenings, luxury resorts and best nightlife with a big number of clubs from which one is Top Hill open disco that is declared for a couple of years in a row to be the best nightclub in Europe. Along the side of Budva there is famous world and tourist attraction city-hotel island  St Stefan which is high end and luxurious place who has been visited by most important and famous people from all around the world because of its unique beauty.

 

 

 

Between Budva and Bar hides many places with small beaches and cultural heritage. City Bar is a marine port city and also it is a proud owner of the oldest olive tree in Europe, estimated to be more than 2000 years old located in the heart of old city of Bar whitch is a  special compound of different cultures and religions.

At the end there’s city Ulcinj, with the old town and cultural diversity and definitely the most beautiful beach on our coast, Big Beach or Ada Bojana. It a 12 kilometers long beach and over a half kilometer wide in some places that have healing and thermal water springs, warm winds and offers birdwatching, Kayt releasing festival, and many other activities.

 

 

From Ada Bojana ,RiverBojana connects the sea and  Skadar lake. It’s a national park of Montenegro and home to over 280 different species of birds. Historical places like ZabljakCrnojevica, Virpazar I Vranjina are a must see! River of Crnojevic slips into Skadar lake trough beautiful maze of water lilies and reed where you can sale almost any time of the year. Skadar Lake is the best place to have freshwater fish and  excellent wine.

 

 

Dalje ka sjeveru skriva se mali grad Plav sa staklenim jezerom na kome se odražavaju planine. Takođe, poseduje poznate Ali Pašine izvore koji  vodosnadbjevaju grad i okolna sela. Odlično je

From magnificent mountain Lovcen you can see both Skadar lake, Boka bay and also on a clear day, Italy. On top of the mountain Is placed mausoleum of Njegos,  ourrespecet, and famous ruler and writer. Under the mountain lies old Royal Capital Cetinje, with national museums and historical monuments.

Into the central valley there is capital city Podgorica , city on seven riveres , with the biggest vineyard at one place in Europe. Vineyard Plantaže is surrounded by river and rock produces first-class vine and other  beverages of top quality.

From Podgorica to the north, you are passing trough KanyonMorača witch is famous for its 90 degrees cliff sides and fast and intense river.

 

 

Next comes city Kolašin with beautiful ski resorts and ski paths, snow festivals and great strong food to keep you through the winter.

Close to it is another National park Biograd lake rich with one of two rainforests in Europe.

Higher north hides small city  Plav with glass-like lake on which mountains reflects. Also, it has famous AlipašasSprings which is the water supply for the city and surrounding villages. It a great place for hiking, picking therapeutical herbs and camping.

 

At the top 10 most beautiful and highest bridges in the world, place takes Đurđevića Bridge over Tara river canyon. There you can go banjijumping, cross the river on a zip line and also go on famous Tara river rafting.

High north there’s a famous Mratinje Dam on Pivariver.  It is 220 meters high which places it at the top 20 highest damn in the world. With the making of it, Pivalake was created, that is called emerald of the north.

Within National Park Durmitor there is Black lake also called eyes of Durmitor as the same named mountain. Durmitormountain has peaks over 2,500 meters. Unthernith is city Žabljak as the biggest tourist attraction on the north with ski resorts, winter festivals, ski relly, and many other activities.

Down the south from Durmitortheres a city Niksic also called a student city and it has three artificial lakes.  In the city of young each year there are musical festivals, lake fest, bedem fest, and others.

From Niksic to Podgorica, as one of the most precious, high evaluated and sacred places there is monastery Ostrog. Orthodox Sanctuary of unique style and place , carved into a high cliff, attracts people from every religion and place of the world.

Montenegro place for everyone