How to open a company in Montenegro in 7 steps

Are you interested in the process of establishing a limited liability company (LLC) in Montenegro? The aim of the instructions we have written is to spare you from wandering through institutions, to save your time and keep your nerves during company registration.

If you, as an individual, want to be the founder of an LLC, check the next steps.

STEP 1 – The founder can be a Montenegrin or a foreign individual (copy of identity card for a Montenegrin, or a certified copy of a passport for a foreigner).

-Executive Director can be a Montenegrin or a foreign individual (copy of identity card for a Montenegrin, or a certified copy of a passport for a foreigner).

– Founder (or founders) prepare the following information: company name, company address, company activity, the amount of initial capital (minimum amount in Montenegro is 1.00 €).

STEP 2 – The Konto’s Agency prepares the Decision on the Establishment (if there are two or more founders, an Agreement on company establishment is made, and the percentage proportion of the owners is accurately determined).

– The Konto’s Account prepares an Authorization Document for submission and withdrawal of documents to the Central Registry of Business Entities of the Tax Administration of Montenegro (CRPS).

STEP 3 – Decision on the Establishment (the Agreement), the Authorization Document and the Notarized signatures of authorized persons (OP form) are certified by a notary.

STEP 4 – The Central Depository Agency of Montenegro (CDA) issues a certificate that the founder (or founders) have no ownership in the companies that are tax debtors in Montenegro.

STEP 5 – The Konto’s Agency prepares the Statute of the LLC and submits the Registration Form to the CRPS, VAT Obtaining Form to the Tax Administration of Montenegro, and the Request for registration in the customs register to the Customs Administration of Montenegro.

STEP 6 – The Konto’s Agency prepares documents to open a current account in the bank and makes the seal of the company.

STEP 7 – Creating of an Employment Agreement for the Executive Director and registration at the Tax Administration of Montenegro.

The process of establishing a limited liability company (LLC) in Montenegro lasts from 7-10 days.

Upon completion of the process, the Konto’s Agency provides the company with the following:

1. Decision on the Establishment of the LLC (Certified by a notary)
2. LLC Statute
3. Decision on registration in the Central Register of Business Entities
4. Decision on tax identification number (TIN) of the Tax Administration of Montenegro
5. Decision on the VAT number of the Tax Administration of Montenegro
6. Seal
7. Registration into the Customs Register of the Customs Administration of Montenegro
8. Agreement on opening a current account in a commercial bank
9. Agreement of Employment for the Executive Director and certificate of employment from the Tax Administration of Montenegro