This video tells the steps to establish your company in Montenegro. Giving details regarding the documents necessary and the time needed for each step.

It also gives information to obtain a work and residency permit thanks to the new company.

How to establish a company in Montenegro?
What documents do i need to establish a company?
How do I start business in Montenegro?
How do I get residency permit and work permit in Montenegro?
How much does it take to establish a company and get the work permit?

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What Types of Companies Can I Start in Montenegro?

The most preferred type of company in Montenegro is Limited Company, and a company to be established in Montenegro can be of the following structures:

1) Limited Liability Company
2) Joint Stock Company
3) Sole Proprietorship
4) General Partnership
5) Limited Liability Partnership Company
6) Foreign Company Branch and Subsidiary

Limited Liability Company:
In Montenegro, Limited Companies have at least 1 to 30 shareholders. Its founders can be real or legal entities. The minimum capital amount is 1 Euro and shareholders are responsible as much as their respective capital participation. The number of mandatory personnel in the company is 1 and this person is the authorized manager. The company doesn’t have to have a board of directors.

Joint Stock Company:
There is no maximum in terms of the number of shareholders for the establishment of a Joint Stock Company in Montenegro. Shareholders consist of either real or legal, and domestic or foreign founders. The minimum enterprise capital is 25,000 Euros and the responsibility of the shareholders is the amount they invest. The Company must have a Director, Secretary and Board of Directors.

Sole Proprietorship:
It is a one-man company and its founder must be the real person. There is no minimum enterprise capital. Its founder is personally and fully responsible for the company.

General Partnership: Neither a joint stock, nor a limited company, this is a partnership of at least 2 real or legal entities which is established for profit sharing purposes. Partnerships are usually created for a specific project and period.

Foreign Company Branch and Subsidiary: Companies based outside Montenegro can engage in commercial activity in Montenegro through the branch. It is considered a separate legal entity but carries out the business activities of the parent company.

What are the required documents for the Limited Company Setup in Montenegro?

There is a simple procedure for the Establishment of a Limited Company in Montenegro. Documents that should be ready during company setup:
Passport
Signed criminal record and apostille (where applicable)
Primary, Secondary, High School or University Diploma

These documents must be prepared before coming from home country (where the passport is issued). It is recommended that the passport expires in more than one year. Signed criminal record and apostille can be obtained from judicial registry offices or governorship according to the country. As a diploma, primary school, secondary school or high school diploma should be preferred (diplomas obtained trill the age 18). University diploma equivalence requires a long and costly process, and therefore not preferred. What the Montenegrin authorities want to see here is whether the company’s founders are literate. Offering a university degree does not add a plus to the company in value.

Chapters:
0:00 Introduction
0:35 Documents Needed To Establish a Company in Montenegro
0:57 How to Register a Company in Montenegro?
1:19 How Long Does it Take To Register a Company in Montenegro?
1:50 Residency and Work Permit Application
2:23 How Long Does it Take to Get the Residency?

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