The limited liability company (LLC) is one of the permitted legal forms for doing business in Montenegro and is suitable for medium and large businesses from various sectors.
The minimum share capital provided for by the legislation of the country is EUR 1.
The number of founders in a Montenegrin LLC can vary from 1 to 30.
A foreign individual can be both the founder and the director of a company.
The company registration procedure requires taking the following actions:
*Not applicable to a company registered with the share capital of EUR 1. The share capital can be increased later and paid to the company’s account at a local bank.
Information / documents to be provided by the founder(s) for company registration:
*Whether or not the documents must be apostilled should be confirmed with a GSL Law & Consulting consultant, as the rules may differ from country to country because of international treaties (for example, agreements on mutual recognition of official documents may eliminate the requirement for legalization / apostille of certain foreign documents).
Upon successful completion of the registration, a company is required to open a bank account at the bank of its choice and provide all relevant documents regarding its shareholders and the entire ownership structure. The company must provide extracts from the register, in original and with an apostille, for all the companies in the ownership structure down to the ultimate beneficial owner(s).
An application for account opening can be made after the grant of a residence & work permit.
The account opening process will require a visit to the bank.
Montenegrin law requires new companies to register with the tax office and submit all necessary documentation. Please note that a Montenegrin company must keep accounting records even if makes no profit.
Regarding taxation, the standard corporate income tax rate is 15%. The applicable tax rate depends on the taxpayer’s realized profit and ranges from 9% to 15%. Capital gains are included in taxable income and are taxed at 9%, whether earned by individuals or legal entities.
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Services
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Fees (EUR)
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Total cost of company registration in Montenegro
Including: - drafting of the articles and support of the registration procedure; - drafting of all other documents required for the registration; - assistance in the registration with the Montenegrin tax office; - making of corporate documents with notarized English translation. Not including: |
5 300
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Deposit to cover out-of-pocket expenses (translation, certification of documents for filing the company registration, courier shipments)
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800
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Obtaining of a residence & work permit for employees (for 1 foreign employee), including the drafting of a lease agreement for a residential property
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3 100
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Assistance in opening a local bank account
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1 800
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Annual maintenance (starting from the second year), including the annual fee of the registered agent, but not including the Compliance fee
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3 500
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Renewal of a residence & work permit for employees (for 1 foreign employee)
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2 200
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Office rent in Montenegro
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from 800 / month
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Our fee for finding an office space (does not include the fee for drafting of a lease agreement)
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750
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The Montenegrin real estate agent’s fee, if any, is payable separately as invoiced by the agent (the fee of local real estate agents can equal 1–2 months’ rent)
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as invoiced by the real estate agent
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GSL agency fee in the case of signing of a lease agreement (one-time)
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10% of the annual amount
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Drafting of an employment agreement and employee handbook (for 1 employee)
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1 500
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Preparation and submission of non-dormant financial statements
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100 – 400 / hour
(based on time spent) |
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Shipment of documents
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from 250
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Compliance fee
Payable in the cases of: - incorporation of a company, - renewal of a company, - liquidation of a company, - transfer out of a company, - issue of a power of attorney to a new attorney, - change of director / shareholder / beneficial owner, except the change to a nominee director / shareholder, - signing of documents. |
350 (standard rate, includes the check of 1 individual)
+ 150 for each additional individual (director, shareholder, or beneficial owner) or legal entity (director or shareholder) if such legal entity is administered by GSL + 200 for each additional legal entity (director or shareholder) if such legal entity is not administered by GSL 450 (rate for high-risk companies, includes the check of 1 individual) 100 (signing of documents) |
[1] The fees are valid as of November 2024.