How to open a business in Montenegro without extra expenses
Opening a business in Montenegro means obtaining the right to permanent residence in the country, not only for yourself, but also for your children and spouses. And given the fact that it is quite difficult for foreigners to find work here, owning your own business is probably the only reliable source of obtaining sufficient income. You can open your own enterprise, or you can buy a business; here the choice remains with the buyer, who himself assesses his capabilities, financial and organizational, and the planned profit.
What kind of business in Montenegro is preferable for Russians? It should be clarified that foreigners can engage in any type of activity, except for the production and sale of weapons. Foreigners are also prohibited from conducting business in national parks and reserves, and in border areas. But that’s all, there are no more restrictions.
However, some foreigners make a mistake already at the start, choosing the appropriate area of investment. It is necessary to take into account the mentality and peculiarities of perception of the local population, both when opening a company and when purchasing an existing business. Montenegrins are not inclined to experiment; they prefer their cuisine, their traditions in holidays and cooking.
If you open any enterprises, it is better to focus on tourists and migrants, since their preferences are easier to understand. Tourists and foreigners permanently residing in Montenegro note a certain lack of qualified specialists in the service sector, which is why European beauty salons are popular and in great demand here.
Of course, it immediately comes to mind to open a travel agency or buy a hotel or mini-hotel. This direction has already been extremely developed by foreigners, but the demand is constantly growing, as is the tourist flow.
You will definitely need to hire an accountant; this is a very popular profession here, legislation is constantly changing, and audits are quite frequent.
Opening your own business will not take much time, no more than a week. You only need to submit a foreign passport, documents for family members, police clearance certificates, and an act of establishment to the registration chamber. Authorized capital is only required for some firms, such as insurance companies or credit institutions. The state duty will be no more than 300 euros.
Buy a ready-made business in Montenegro It won’t be difficult, there are a lot of offers, the transaction is quite simple. The main thing is to decide what exactly is expected from the object, what kind of profits, what kind of client the business is designed for. The choice of location of the object is of great importance. A specialized organization can also deal with the sale of a business or its purchase; such services are quite easy to find here. The sale of a business in Montenegro is taxable; you will need to pay a fee since the income has been generated. In general, tax rates in this country are quite democratic. It is worth considering such an investment option as
Do you want to move to a country with a warm climate, crystal clear sea and friendly people? Welcome to Montenegro!
In the previous article we looked at the method of obtaining a residence permit based on real estate ownership, but this is not the only way. Today we will talk about obtaining a residence permit based on opening a company.
It turns out that you can get a residence permit without buying a home?
So, you came to Montenegro, rented accommodation, went on excursions and decided to stay and live here. An excellent basis for obtaining a residence permit is employment. Since it is almost impossible for a foreigner to get a job, we will act differently. We will open a company and obtain a residence permit, based on the fact that you and your family members work in this company. And now in detail and in order.
Step 1. Getting ready for the trip to Montenegro.
Before you fly to Montenegro, you should prepare the necessary package of documents:
- certificate of good conduct
– higher education diploma (if you have one)
– certificate of secondary education
– birth certificate (for yourself and each family member)
- Marriage certificate
Before your trip, be sure to call us and check the required list of documents.
Step 2. We arrive in Montenegro.
We will meet you at the airport.
We help you rent housing. It is advisable to call in advance and discuss your requirements for rental housing and the cost. In this case, we will be able to select options that suit you in advance.
We highly recommend booking a sightseeing tour of Montenegro with us.
Step 3. Prepare a package of documents to obtain a residence permit.
Based on the documents that you prepared before your arrival, we agree on the optimal scheme for opening a company (DOO or preduzetnik) and help you obtain the entire package of documents, including documents for the company and a seal. At this stage, you will be required to open an account at a local bank and deposit the amount of 3,650 euros into it. After receiving the necessary certificate from the bank, this amount can be withdrawn.
Step 4. Submit documents for a residence permit
You will need to submit the collected package of documents to MUP - the government agency that makes the decision to issue you a residence permit. Typically the waiting time for a decision is 21 days. This time can be devoted to relaxing at sea and excursions.
Step 5. Residence permit for family members
As soon as you have received “Boravok” - a document confirming a residence permit in Montenegro, we proceed to obtaining a residence permit for your family members. In this case, there is a mechanism for obtaining a residence permit on the basis of family reunification. We will help you prepare the necessary package of documents and submit it to MUP.
The residence permit is issued for 1 year and after a year you will need to renew it. We will be happy to help you not only in obtaining a residence permit, but also in renewing it.
How much will a residence permit cost me?
– Opening a company 350 euros
– collection of documents for boravok for 1 adult 200 euros
– collection of documents for boravok for children 100
State fees:
– Nostrification of diploma 150
– Certificate 50
It is also necessary to take into account the costs of maintaining the company.
– reporting 50 – 100 euros per month
– Tax 138 euros/month. for 1 person (medicine + pension)
– Minimum salary 199 euros.
As you can see, the costs of obtaining a residence permit are comparable to the current expenses of the average family in Ukraine or Russia. But at the same time, your family will live on the seashore and enjoy the beautiful mountain scenery and hospitality of a wonderful southern country.
The exchange of experience continues, and today Russian-speaking residents of Montenegro answer the 10 most important questions that face everyone who wants to live abroad.
Project participants share their own unique moving experiences. This experience should not be taken as a guide to action, but perhaps it will help you learn something new about moving to Montenegro.
So today the questions are answered:
Nadezhda and Alexander Pavlyuk. 38 and 36 years old. We have been living in Montenegro for 13 months. Nadezhda is a fashion designer and has her own studio. (Address – Podgorica, Hercegovachka St. 13, www.pavlin777.com), Alexander, an economist, provides assistance with emigration and obtaining a residence permit in Montenegro. ( [email protected])
Svetlana, 24 years old, engaged. For 4 years she lived in Montenegro and worked in tourism.
QUESTION 1. How did you choose your country of residence?
NADEZHDA AND ALEXANDER
Initially we chose Montenegro simply out of interest; I liked the name of the city - Bar. but as fate would have it, we first lived in Serbia in the Matarushka Banya resort for 19 months. After Serbia we moved to Podgorica.
SVETLANA
I ended up in the country absolutely by accident - I was looking for a job abroad and was offered the option of working at a resort in Montenegro. Before that, I had already vacationed there myself as a tourist, and therefore I was glad that I was moving to this country.
QUESTION 2. Where is the best place to live in Montenegro and how much does it cost to rent an apartment?
NADEZHDA AND ALEXANDER
It's better to live by the sea! But if you need work all year round, then this is definitely the capital - Podgorica. It is the most populated city in the country. Many Russian-speaking families live on the coast in Bar, Budva, Tivat, Kotor, Herceg Novi.
In Podgorica, rental housing costs from 150 euros per month. We rent a 100 m2 house for 176 euros. Naturally, the housing is not new, but it will do for a start. Rent in new buildings will cost from 300 euros per month. Many families live in the Old Airfield area.
It is better to search for housing on your own, simply asking people if anyone is renting. Or through advertisements in the Tender Oglasi newspaper.
SVETLANA
In any case, it’s worth living on the coast - there is work, better living conditions, and the Russian diaspora. The tourist center of Budva and small towns nearby as part of the Budva Riviera, or Bar - a city of Russian immigrants - will be the best choice. And don’t rush to the capital Podgorica, it is by no means what we are used to expecting from capitals :) Renting housing strongly depends on the season - in winter you can rent good apartments for 250-300 euros, but if the rental is long-term and covers the summer months , then the price automatically increases to approximately 500 euros, and you will have to sign a contract.
QUESTION 3. What is the country’s visa policy, and what opportunities are there for legalization?
NADEZHDA AND ALEXANDER
Russians can stay in the country for 90 days without a visa, but every 30 days they need to leave the country and re-enter after receiving a stamp in their passport. Luckily the border is close!
One of the ways to become legal is to marry Montenegrins.
To get a borawak (residence permit), you can open a company by contacting any accounting office or contacting us!
You can also get a work visa if you are a rare specialist or come for seasonal work.
SVETLANA
Russian citizens can stay in the country without a visa for a month - after which they can cross the border (fortunately, neighboring Croatia, Albania and Bosnia are very close) and return back for another month - and so on endlessly. Many people have successfully used this system, but in recent years the authorities’ policies have become harsher. Therefore, if you get a job, look for an employer who issues a “borawak” - a residence permit for six months or a year. By the way, only serious companies do this, since a considerable tax is paid for guest workers and there is a nationwide annual quota on the number of foreign labor.
You can also get borawak by registering your own company, which our compatriots often use.
QUESTION 4. Where do Russians mainly work in Montenegro and how difficult is it to find work?
NADEZHDA AND ALEXANDER
Russians mostly don't work! They are relaxing at sea! In general, everyone works for themselves, since it is difficult to get a job, and the salaries are small. The average salary in the country is 250-300 euros. Russians work mainly in the service sector, both seasonal and year-round. For example, we have our own studio “PAVLIN” and we are looking for a responsible employee who wants to work! The locals don’t really want to work, and if they do work, it’s not high quality! So any person who does his work with soul will not be left without food and money.
People look for work on the website www.zaposli.me, in the newspaper Tender Oglasi or on Facebook in groups on relevant topics.
SVETLANA
On the coast, work is mainly in the tourism sector, as well as in the rental and sale of real estate. All life is concentrated in tourist centers and is clearly tied to the summer season. Working in winter is borderline fantastic if you are not an entrepreneur yourself. To find seasonal work, you can contact host travel agencies in Montenegro or hotels directly. Plus, look for vacancies on the information portals www.montenegro-today.com or www.chernogoriya-club.ru.
QUESTION 5. What can you say about the cost of living - is it expensive to live in Montenegro?
NADEZHDA AND ALEXANDER
Electricity costs depend on the season - 30-40 euros in summer and 50-70 in winter. Water in the private sector costs 7 euros per month in metered apartments. Garbage removal is also paid for, but it is not expensive.
We can’t say anything about medical insurance, because we didn’t have insurance. Upon receipt of Borawak, honey is given. a book according to which the service is free.
There is public transport, but we don't use it. The city is small and you can walk everywhere, and if it’s far away, then we go by car. The average taxi cost in the city is 1 euro.
We spend between 300 and 500 euros per month on groceries. It all depends on appetite and preferences! In general, the products are not expensive and very tasty!
SVETLANA
The cost of living is relatively inexpensive - I compare it with Moscow. The food products pleasantly surprise you with the ratio of high quality and absolutely reasonable prices. We are pleased with the variety of vegetables and fruits all year round - after all, it’s the south, in December we eat tangerines from the tree, that is, it’s completely free :)
Utility bills include expensive electricity, especially in the winter months; in the absence of central heating, bills come to 100 euros or more. And, as in all of Europe, gasoline is expensive, but in fact you will need a car, because... public transport between cities is rare and inconvenient.
QUESTION 6. What educational opportunities are there for Russian children and how difficult is it to get a child into a local school?
NADEZHDA AND ALEXANDER
It's easy to get a job at a local school. Come and learn! There are no difficulties. There is a Russian school and kindergarten in Podgorica, but for money - 250 euros per month. You can also go to college in Podgorica.
SVETLANA
There are Russian schools in Budva and Bar; unfortunately, I can’t say anything more on this topic.
QUESTION 7. What is the level of medicine in the country and how expensive is it? Do you use the services of local doctors? Is it possible to take out insurance and is it necessary?
NADEZHDA AND ALEXANDER
Insurance can be obtained from insurance companies. We don’t know the cost because We use free medical care. We didn’t end up in hospitals and don’t want to! So we can’t say anything about the quality of service.
SVETLANA
State medicine leaves much to be desired. At the same time, there are good private clinics with a fairly wide range of services. The cost of admission is about 40 euros. But if we are talking about a more serious level of medical intervention (for example, surgery), then it is still better to fly to Russia.
QUESTION 8. Do foreigners have the opportunity to buy a car? Are our rights appropriate?
NADEZHDA AND ALEXANDER
You can buy a car from a company or an individual, but after receiving the boravka. The rights are Russian.
SVETLANA
A car can be purchased and registered without any problems. The only tedious process is annual re-registration. Even ordinary Russian laws, not necessarily international ones, are suitable.
QUESTION 9. Is it possible for a foreigner to open his own business?
NADEZHDA AND ALEXANDER
Opening a business is easy! There are no problems. Everything is fast and simple. Register a company or individual entrepreneur and move on to victory!
SVETLANA
A foreigner can easily open and register a company in Montenegro. But whether it will actually work is not so simple. The market is narrow and predominantly occupied by Montenegrins. “Strangers” who claim a piece of bread for the local population are quite persistently oppressed. No threats or crime in the style of the 90s - just a spoke in the wheels of a purely economic nature. The solution is to cooperate and let everyone earn money :)
QUESTION 10. What, in your opinion, should one be prepared for when moving to Montenegro for permanent residence?
NADEZHDA AND ALEXANDER
You need to be ready for beauty! Montenegro is a very beautiful country! Lots of places worth seeing. People generally treat each other very kindly. Russians are like brothers to locals. But, as everywhere else, there are also bad people who are ready to deceive. You just need to be adequate and analyze the situation.
The biggest disappointment is that there is a lot of smoking here - EVERYWHERE! And it's very annoying. It is impossible to be in a cafe unless it is outdoors. And so, in principle, there is nothing complicated or incomprehensible in the country. If anything happens, there will always be people ready to help and explain everything.
SVETLANA
One of the most important nuances is that you must know the Montenegrin language (also known as the “Jekavian” dialect of Serbian, but Montenegrins shouldn’t mention this). Good news - at an average level, sufficient for everyday communication, it is not at all difficult to speak - after all, Slavic brothers. Your painful attempts at English will be perceived with at least bewilderment.
And be prepared to never rush anywhere again :) Seriously, nothing will be done on time, and the main thing is that no one except you will be nervous about this. But they will not understand you and will consider you a fussy and unpleasant person. So, relax right away and enjoy a much slower lifestyle than what you are used to.
I express my deep gratitude to the project participants for their detailed and useful answers to questions.
All photographs for this post were found on the Internet, and if you recognize your photo, write to me and I will definitely indicate your authorship.
If you would like to become a participant in the project, you can contact me via private message.
I have already written several articles with my thoughts about what kind of business you can open in Montenegro. Since fresh ideas appeared, I decided to continue.
First of all, I will make a small digression to say that in addition to businessmen, other categories of citizens come to Montenegro as part of the business immigration program. Montenegro is a paradise for everyone who does not plan to look for work after arriving in Montenegro, for example, for businessmen, freelancers, traders, citizens who live on income from renting out real estate in Russia, etc.
But let's return to the topic of our article. I'll start with massage parlors. Since my wife started going for massages, I learned about this area of Montenegrin business. The massage parlor my wife goes to is small (see photos).
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Opening hours: 8 am to 1 pm and 4 pm to 8 pm daily. It is interesting that there is a constant flow of people, and this type of activity does not depend on the season.
The price of a massage in Herceg Novi (the city in Montenegro where I live) is usually 25 euros per hour. But, precisely in the salon about which I am now writing prices below, 1 hour of massage costs 10 euros. At the same time, if you pay for the course (10 sessions) at once, you get a 20% discount. That is, if you pay for 10 massages, you pay 80 euros. And regardless of the type of massage - sports, relaxation, drainage or anti-cellulite.
She herself also does pedicures, manicures, depilation, facial cleansing, masks and other various purely feminine “lotions”. Everything is two or even more times cheaper than the cost of similar procedures in competing salons or the Igalo Institute. Despite the fact that the equipment and products are identical! But this way she has many clients. The expenses for this type of business are not high. The masseuse rents a small room next to her house, far from popular tourist spots, for 200 euros per month.
So, we're done with the massage parlor. Go ahead. In Montenegro there is a very poor assortment of toys and various educational “things” for children. Not to say that there is no choice at all, but in Russia the assortment is much larger.
My next idea is somewhat controversial. I will voice it, but I can’t give any guarantees that things will work out. There is no Subway in Montenegro. Who doesn't know, this is one of the world famous fast food brands. In my opinion, the only fast food that you can eat, and with pleasure. It is not available in Montenegro. But it’s hard to say whether it should be opened. If this has never happened here, it means that this food is not familiar to Montenegrins, perhaps they will not understand.
Car rent. I know several representatives of rental cars. For example, today I had tea with Konstantin, he lives in Montenegro. He only drives a rental car during the season, and outside of the season he lives in Moscow. Kostya has 8 cars, and during the season the car delivery rate is excellent. Konstantin does not have his own office; he rents out cars, agreeing on cooperation with travel agencies, and pays a commission for each client.
How much money do you need to open a rental car? If you buy used cars, a car in good condition will cost 4–10 thousand euros, depending on the year and make. Multiply this amount by the number of cars you want to buy. You can rent out cars in Montenegro for 30 – 70 euros per day. The price depends on the car brand and rental duration. The longer, the cheaper. This type of activity does not require a license. If you only deal with rental cars, then it is best to register a state of emergency (preduzetnik in Serbian), as in the end there will be fewer expenses.
Renting out apartments. You can buy or build apartments with our help. The price and number of tourists depends on the level of the apartment and the distance from the sea. You can find rental prices on our website, in the section on holidays in Montenegro. Approximately mid-level apartments bring 5-10 thousand euros of profit per season. The amount he mentioned, of course, is very approximate, since prices depending on the apartment can vary greatly. Some accommodation options can cost 15 euros per day, and some 500. Therefore, the above is the profit amount for apartments of the most common level in Montenegro. The closer the building is to the sea, the easier it is to rent them out and the more tourists there will be, but the cost of land, and, consequently, apartments will increase as they get closer to the sea. If you have several apartments for rent, then you can live in Montenegro on this income.
Investments in real estate. A very good business, although not the easiest if you do it yourself. Our company provides services for the construction of real estate. Detailed information is published on our website. Below we publish an interview with a Russian investor in Montenegro, who independently builds houses with his own money for the purpose of subsequent resale.
We thank Grigory Bryukin for his frank answers to our questions.
Questions fromEuropartner: You have recently built a semi-detached house. Please tell us about its “main” parameters.
Gregory: The area of the land is 300 meters. The area of the house is 183 meters.
Questions fromEuropartner: Gregory, can you tell us in detail about the costs of building a house? At least basic expenses.
Gregory: Of course, I'll tell you. In Montenegro, land and building permits are very expensive. As you know, taxes in Montenegro are very low, but the country needs to live on something, so they set, in my opinion, high taxes for construction. A lot of money is spent on various permits and land purchases.
I bought a plot of 300 meters at a cost of 100 euros per square, i.e., in the end, 30,000 euros only for the land. Go ahead. Construction costs 400 euros per square. Let me remind you that the area of the house is 183 meters, i.e. The construction of the house cost 73,200 euros. This article includes both materials and payment for the work of the construction team, in a word, everything related to construction. Building permit 50 euros per square. Again, the area of the house is 183 meters, i.e. We end up with 9,150 euros just for the building permit. Project development 20 euros per square, i.e. 3660 euros. Water connection 1% of the cost of the property.
Questions fromEuropartner: What is the distance of the built house from the sea?
Gregory: 1500 meters.
Questions fromEuropartner: What could be the selling price of this house?
Gregory: There are no markups of 200–300% like in Russia in Montenegro. I think the normal price for this house is 160,000 – 180,000 euros, depending on how quickly you want to sell. This is if you buy two apartments, or ½ of this amount if you buy one of the apartments. The house is designed for two families.
Questions fromEuropartner: How long did it take to build the house?
Gregory: 3 months.
Questions fromEuropartner: Where did the material for construction come from?
Gregory: From Serbia.
Questions fromEuropartner: How long did it take you to sell the house?
Questions fromEuropartner: Are you planning to build new facilities?
Gregory:Certainly. In the fall we will begin building two new buildings, with a total of 6 apartments.
Below we publish photographs of the house provided by Gregory.
How to open a business in Montenegro?
the site found out how to open a company in Montenegro. To do this, we talked to an employee of D.O.O. Dominanta, who does this professionally. It turned out to be an interesting article that reveals many pitfalls when starting a business. This will help you avoid mistakes, pay less, and get everything you need.
Montenegro is a very beautiful and promising country. Having been here once, you will definitely be visited by the thought of whether to stay here forever. But the wonderful climate and unique landscapes may prevent you from assessing the situation soberly. Alas, in Montenegro a lot is promised, but little is fulfilled. Especially in relation to foreigners who are ready to invest in the country and open a business. Are you ready to risk your well-being and confident in your ability to conquer the Montenegrin market? This information will help you avoid common mistakes and unnecessary costs when starting a business.
To legally conduct business in Montenegro, you can register a company or private entrepreneur. Today we will look at the process of registering a company.
How to start a business
D.O.O., or limited liability company, is the simplest solution for opening a company. Here you will need a minimum of documents and time. Registration of a company will take 5-10 working days, and the only documents required for opening are a foreign passport. You don’t even have to be present in person when registering a company - in this case, you can delegate your powers with a power of attorney drawn up in your country of citizenship and arrive with everything ready.
The main advantage of D.O.O. the fact that you are not limited in choosing what to do: the charter allows you to secure one main and any number of additional activities. Activities can be changed and supplemented - the waiting time for such changes is only a couple of working days.
At D.O.O. there can be from 1 to 30 founders. The minimum authorized capital allowed by law is 1 euro. When registering D.O.O. an executive director must be appointed. It could be one of the founders or someone from the outside. Here it is important to know that it is the director who manages all the property of the company, including its current account. Therefore, I advise you to approach the choice of director responsibly - if you cannot or do not want to be a director personally, appoint someone to this position who you can entrust with the money in the company’s account.
Where to begin
It is extremely difficult for a foreigner who does not know the language to independently open a company in Montenegro. Fortunately, there are many companies that are eager to help and are ready to professionally (and sometimes not so professionally) resolve any of your issues. There are a lot of offers, prices vary widely, and it’s easy to get confused about who to turn to. Let's say you are considering offers from several companies. How to choose one and not pay extra? To do this, pay attention to what should be included in the cost of services for opening a turnkey company.
It is useful to know that when opening a number of documents are signed and notarized. These may be your additional expenses if you do not first check whether they are included in the cost of opening a company.
Decent accountants include in the cost of opening a turnkey company:
- -government fees for opening a company,
- - expenses for notarization of documents,
- -the cost of producing a company seal,
- -delivery of documents to Podgorica and back.
You were not mistaken with an accountant if, based on the results of registration, you received the following set of documents:
- -the original of the decision to register the company,
- -the original of the decision on assigning a tax number (PIB of the company),
- - company charter
- -company seal
- -data about your company should appear on the website http://pretraga.crps.me/.
If anything from this list is missing, you will not be able to start working, and of course, in order to complete the registration you will be asked to pay extra.
The fair market price for such services should not exceed 300 euros. If you are offered an opening much cheaper, be careful, this may mean hidden costs or efforts. For example, they may print out and give you documentation to sign and wish you a safe journey with it to the responsible authority in Podgorica. If, on the contrary, the price for services is much higher, they are simply making money off of you.
Good news– registration of a company gives the director and his family (spouses and children under 18 years of age) the right to obtain a residence permit. The founders do not receive such a right.
What to do next
When registration is completed, it would seem that you can start working. But first, a foreign director is required to obtain a residence permit for the sake of employment. He must be officially registered with the company and receive a salary. Taxes are charged on wages, and reports on their payment are submitted monthly to the tax service.
The company must make all payments through its current account. And this is serious. Forget about cash payments, unless of course you want a showdown with the financial inspectorate. If receipts to the company’s account for the year exceed 18 thousand euros, the company must pay VAT in the amount of 19%.
Certain types of activities (for example, tourism, hotel and restaurant activities, beauty salons, car and yacht rentals, shops) require a cash register and obtaining licenses and work permits. The time required to obtain such permits sometimes takes longer. For example, if you want to work in a rented premises, and the owner of the premises did not pay income tax or light bills, you will not be able to obtain permission to work until 100% of the debts are repaid. Before signing a lease agreement for premises for a company, inquire about the existence of such debts. This is open information that any knowledgeable accountant can help you obtain.
Once a year, the company is required to submit a report on the results of its activities. When receiving net profit, it is taxed at 9%.
You will need an accountant to prepare all the reports and obtain the necessary permits. Monthly prices for accounting services range from 50 to 150 euros. If the price is close to 50 euros - for the annual report and each form filled out for the company, you are guaranteed to receive an additional invoice. The high cost of accounting is typical for companies with active activities, but here it is also worth discussing with the accountant in advance whether all services are included in the cost of service. It is recommended that all service agreements be formalized in an agreement on the provision of accounting services - then you will have legal grounds to demand the provision of services in full.
Finally, I will give you one more practical piece of advice. Don’t try to do everything in this country at once, make decisions slowly (or as the locals like to say, lako). Live here for a month or two in the winter as a tourist. Chat with compatriots who have been trying to make money here for several years. Take a closer look at the mentality and prices in supermarkets. Try to learn a couple of phrases in Montenegrin. Do not pay in advance for services unless the fact of payment is documented. Don’t be fooled by friendly local businessmen who are ready to become your business partners and promise everything at once - invite them to enter into an agreement with clear conditions and deadlines, and their smiles and initiative will immediately disappear.
Montenegro is a young and developing country, and therefore laws change frequently. Please note that this article is current as of 03/01/2016. Find out the latest information and receive a free consultation regarding opening a company at [email protected].
