Montenegro property
Montenegro property
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Published: 22.feb.2023
Move your business to Montenegro and legally reduce taxes to save more of your income! Start from 9% tax rate for small business! How to register a company in Montenegro? We create a plan for you that are tailored to your specific situation.
Our agency "Galerija Jadrana" LLC, is one of the few companies providing services in the field of transfer pricing and tax planning in Montenegro.
Experience and knowledge that we have allow us to remain in demand in the field of tax consulting and corporate law. Our partners and clients are large international companies.
Montenegro is a candidate for EU membership and its legal system is brought into line with modern European legislation, foreign citizens are equal in rights with citizens of Montenegro, the right to property is protected by the state.
The standard corporate income tax rate start from 9 percent, which makes Montenegro one of the most efficient jurisdictions for doing business in Europe. The tax year end in Montenegro is December, 31. Corporate income tax rates are progressive.
Tax rates on the amount of taxable profit amount to:
1) Up to EUR 100,000.00 is 9%;
2) From EUR 100,000.01 to EUR 1,500,000.00: EUR 9,000.00 + 12% on the amount over EUR 100,000.01;
3) Over 1,500,000.01 euro: 177,000.00 euro + 15% on the amount over 1,500,000.01 euro.
There are many examples of successful business in Montenegro; the most striking of them are the construction of two large marinas for mega yachts with hotels and a multifunctional complex on the Adriatic coast, called "Porto Montenegro" in the town of Tivat, and "Porto Novi", near the resort of Herceg Novi.
A resident is a legal entity that is incorporated or has its place of effective management and control in Montenegro. Resident taxpayers are taxed on their worldwide income. Non-residents are taxed only on their Montenegrin source income.
Civil association, Limited partnership, Limited liability Company, Joint-stock Company, Part of a foreign Company (branch office).
EUR 1 for a Limited liability company, EUR 25,000 for a Joint-stock company.
As at 1 January 2018, Montenegro has 44 effective double taxation conventions on income and capital, with the following countries, territories and jurisdictions:
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Albania |
Denmark |
North Macedonia |
Slovenia |
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Austria |
Egypt |
Malaysia |
Sri Lanka |
|
Azerbaijan |
Finland |
Malta |
Sweden |
|
Belarus |
France |
Moldova |
Switzerland |
|
Belgium |
Germany |
Netherlands |
Turkey |
|
Bosnia & Herzegovina |
Hungary |
Norway |
UAE |
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Bulgaria |
Ireland |
Poland |
UK |
|
China |
Italy |
Romania |
Ukraine |
|
Croatia |
Rep. of Korea |
Russia |
Portugal |
|
Cyprus |
Kuwait |
Serbia |
Iran |
|
Czech Rep. |
Latvia |
Slovakia |
Real estate transfer tax at the rate of 3 percent is payable on the transfer of land, as well as on the second and subsequent transfer of new buildings. The first transfer of a new building is subject to VAT at the rate of 21 percent.
- Establishment of legal entities in Montenegro (LLC, JSC, NCO),
- Opening Bank accounts for non-resident legal entities in Montenegro,
- Opening Bank accounts for non-resident individuals in Montenegro,
- Services for obtain a temporary residence and work permit for a Director or employee in Montenegro.
1. Pay registration fees
2. Check business name availability and request and obtain a business name reservation,
3. Notarize registration documents
4. Obtain statement from the Central Depositary Agency
5. Apply for Company Registration
6. Obtain Registration Certifications
7. Create Company’s seal (request and obtain)
8. Open company’s bank account
9. Register with municipalities
10. Register as taxpayer, contributor and insurance
The cost of our company's services for establishing a company in Montenegro is 1815.00 euro (one-time payment), the price also includes all state fees and taxes.
Opening a corporate account of the company in one Montenegrin Bank is 1150.00 euro (one-time payment), all bank fees and taxes included. The company's opening period is seven business days.
The maintenance of the company is 2360.00 euro per year; including the services of bookkeeping (the price includes bookkeeping, company's annual report, document storage) and VAT. We will do bookkeeping for you and send you accurate financial statements. Annual financial statements must be filed until the end of March of the following year.
Registered office address services in Montenegro is 1452.00 euro per year (the price includes VAT).
Also, from July 1, 2021, all Montenegrin legal entities are required to join the electronic fiscalization system. Fiscalization is a procedure for collecting and transmitting to the tax authorities data on the funds accepted by the enterprise, which is performed using special information storage modules. The main characteristic of fiscalization in Montenegro, also called online fiscalization, is the provision of invoices to tax authorities via the Internet in real time. The cost of a one-time payment from the company's account for the purchase of software is 60,00 euro (certificate).
Necessary documents for opening a company in Montenegro by power of attorney: a certified copy of the foreign passport of the founder of the company, a certificate of criminal record from the applicant's country, a notarized power of attorney for a representative of our Agency for the necessary actions for registering a company in Montenegro and opening a Bank account.
For more information about opening a company in Montenegro, please contact us by phone: +38267378403 (Viber, WhatsApp, Telegram) or send us an email: prevalitana@t-com.me
