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Montenegro

Montenegro Flag

Country: Montenegro
Region: Europe
Currency: Euro (EUR) (€)
Languages: Montenegrin
Time Zone: UTC +1

Phone Code: +382

Communications: Good

Formation Cost: 2400 - 3000 USD$
Formation Time: 8 - 12 days
Maintenance cost: 400 - 600 USD$

Executive Summary: Montenegro is a former Yugoslav republic in South Eastern Europe between the Adriatic Sea and Serbia. At just 13,800 sq km it is one of the world’s smallest countries. The population of 650,000 (July 2014 est.) is made up of many ethnic groups, with Montenegrins and Serbians dominating. The official language is Montenegrin, spoken by 37% of the population, although more people (42%) speak Serbian. Montenegro's economy is slowly transitioning to a market system, but the state sector remains large and additional institutional changes are needed. The global financial crisis had a significant negative impact on the economy which relies heavily on foreign tourism and the export of refined metals, and the Government was recently forced to raise taxes. Montenegro is a member of the IMF, the World Bank and the WTO. In 2012, negotiations to join the EU commenced. Eight-year tax holidays are available to companies in under-developed regions of the country.

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Company Purpose Stats:

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Vehicle Types: Limited liability companies, joint stock companies, branches, sole proprietors, general partnerships and limited partnerships

Capital primary business districts: Podgorica

Good Relationships: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, Spain, Sweden, Turkey, United Kingdom

Bad Relationships: Burma, Egypt, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Light

Tax Burden - Individual: Light

Headline tax rates: CIT 9%, PIT 9%-15%, VAT 19%

Treaty Jurisdictions: Albania, Belgium, Bosnia and Herzegovina, Bulgaria, China, Croatia, Cyprus, Czech Republic, Egypt, Finland, France, Greece, Hungary, India, Iran, Ireland, Kuwait, Latvia, Macedonia, Malaysia, Malta, Moldova, Netherlands, Poland, Romania, Russia, Serbia, Slovak Republic, Slovenia, Sri Lanka, Sweden, Switzerland, Turkey, Ukraine, United Arab Emirates, United Kingdom

TIEA Jurisdictions: None

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