Opting for a work-based permit includes establishing a business entity in Montenegro and securing employment within the company, specifically in an executive directorial capacity (minimum salary is 450EUR + (130EUR for taxes)-in 2024/25 the minimum salary will be increased to 700EUR + (around 200EUR for taxes). We offer a comprehensive package that includes company registration, residency acquisition, opening business and personal bank accounts, and the provision of professional accounting services for the duration of your stay. The company registration will be handled in Podgorica (you can only submit business registration in the main capital city), so we’ll start everything from there. The residency permit will be handled in the city of your choosing. Our package also covers ALL expenses related to the establishment of your business and the application for a residency permit, including:
Once your company is registered, you’ll have to hire an accountant to ensure meticulous financial management and compliance with all regulations. Our experienced team guarantees comprehensive support for the duration of your stay, handling all aspects of your business requirements and making sure your financial affairs are in order. The starting monthly price for accounting and bookkeeping services is 100EUR (tax is included in the price). The price to file the final tax document at the end of the year is 100EUR (must be submitted by March 31st for the following year), which means the accounting/bookkeeping services cost in total 1300EUR per year. The price can go up depending on the number of workers and the amount of services/goods sold per month. There’s a discount for those who start business as solo- proprietors, while you’ll save some money, you’ll be liable personally for all aspects of your business in Montenegro. Your close family can also be liable personally if involved in the business in any way. We always suggest to open a D.O.O, as that will limit liability no matter if you want it for the residency or to start/expand business. Those who are looking to open a company only for the purpose of residency, and don’t intend to actually do business in Montenegro, are entitled to a special discount. Contact us for more information.
We provide business address for your company free of charge. You’ll receive on that address all correspondence regarding your company, including any fines regarding tax and administration. You’ll find many agencies charging this as a monthly service, which doesn’t bring you any value, instead, the agencies will have more control. We’re always transparent, as we strive to build long-term relationship based on mutual satisfaction. You can use your address or let us handle it, in any case, you’ll be promptly and thoroughly notified and assisted regarding everything. We guarantee for our work.
Before your arrival: We’ll provide you with all legitimate website offering real-estate, as you must have a rental contract to apply for a residency permit. We’ll give you suggestions regarding which city would suit you the most. We can also scout and negotiate the price of apartments before you arrive if you’d like to have everything ready for you, otherwise, everything will be handled upon your arrival.
Day 1: You’ll arrive in Montenegro, and register your stay at the local tourist agency. We’ll collect all documents, translate them in the office of official court translator. We’ll go together with the translator to the notary office to sign a PoA, so we can handle all administration in your name. If you come before 2:00, we’ll start registering your company the same day. The registration is usually completed in 5 work days, but in some cases there can be delays with the state institution, holidays, too many workers on paid absence, which can lead to up to 10 work days processing time.
Before the company is registered: we’ll assist you in search for an appropriate apartment. We’ll scout, negotiate and prepare a rental contract to be signed at the notary office. We can also try to mitigate the intermediary agencies which are selling/renting apartments by finding and contacting landowners directly.
Company is registered: Once your company is registered, the director can apply for the residency permit based on work. The residency permit registration is usually done in 5-10 work days. There can be delays with the state institution, holidays, too many works on paid absence, or a sheer volume of applications, especially in some coastal towns.
Residency application is completed: We’ll start the same day residency applications based on family reunification for your family. We’ll go with you to get a work book, so you can register your work contract and pay taxes and contributions to the tax office. Failing do register in timeframe provided by the law will result in fines. It will take 1-4 work days to obtain a work book, and register at the tax office. We’ll open a personal and business bank account for the main applicant and sign accounting service contract. You’ll have access to online banking.
Your family residency applications are completed: We’ll open a personal bank account for your spouse.
We’ll open a company in your name, cover all registration related expenses and taxes, advise you regarding business activities, tax, regulations, accounting, business environment and competition in different branches. Our accountant will make sure your business meets all legal and regulatory requirements.
We’ll apply for your residency permit. We have experience in processing residency permits for all nationalities, especially for those who live in countries which don’t have visa agreement with Montenegro. Our lawyers have more than 30 years of experience and will ensure efficient, straightforward process, and expert legal assistance in even the most complicated cases.
We’ll open personal and business bank accounts. We keep track about any changes in the tax, administrative and immigration law. You’ll be promptly notified about any changes in the law and tax.
Expert guidance & Fast processing
Our seamless guidance will navigate you through government requirements, eliminating confusion and offering clarity in what might otherwise be a prolonged process when initiating a business and applying for residency permit.
We attentively consider your requirements and collaborate with you to develop a process and timeline that aligns with your needs. This approach ensures that we meet your expectations without compromising on thoroughness and maintaining the highest standards of compliance.
Focus on prices
Our main focus is achieving the right balance to make the service affordable but professional and fast.
Respectful collaboration
At ResidencySolutions, our experts work closely with you to establish and nurture a relationship built on trust and mutual respect. Our forte lies in being a reliable partner, especially skilled at cultivating trust even in scenarios involving remote collaboration.
How much does it cost to set up a company and get residency in Montenegro?
Our once-off fixed fee of 800EUR provides for complete company formation and residency permit, including:
How much does accounting/bookkeeping services cost?
The monthly accounting and bookkeeping services cost starts from 100EUR for a small business. The price will increase depending on the monthly volume of goods/services and number of workers on payroll. Special discount is available for those looking to open a company only for the purpose of getting a residency. Contact us for more information.
How can foreign companies establish a business presence in Montenegro?
Given its strong economy, robust banking system and excellent quality of life, it’s no surprise that we receive many enquiries from foreign companies about international expansion to Montenegro.
A foreign company can establish a business presence in Montenegro in several ways:
Who can be a director of a Montenegrin company?
A private or proprietary company must have at least one director who must have residency in Montenegro.
What is the minimum wage in Montenegro?
The lowest wage in Montenegro is 450EUR + 130EUR for taxes. There might be an overall increase in wages in 2024/25, reaching 700EUR + around 200EUR for taxes. Following this adjustment, we anticipate that the minimum wage will remain constant for a period of at least five years.
Can I travel abroad? How long can I spend outside of the country as a resident?
You can stay up to 30 days without notifying anyone. If you have an urgent matter, you can stay up to 90 days outside of Montenegro, but you’ll have to provide reason and proof for the extended stay to our Ministry of Foreign Affairs and the local Police.
Adhering to regulations is crucial for residency standing, as you can apply for permanent residency after 5 years.
How to get married in Montenegro? How much does it cost to get married in Montenegro?
You can tie the knot in any city in Montenegro. The price starts from 20EUR if you choose to get married in the city hall and 100EUR if you decide to complete the ceremony outside. The marriage certificate will cost 7EUR, while in some cities it’s included in the basic price (20EUR). You’ll have to bring a birth certificate, alongside with the confirmation of the marital status. Those documents must be apostilled and translated into Montenegrin language (around 50-100EUR). The official court translator must be present when you sign all the documents (starting from 30EUR). You’ll have to bring at least two witnesses. The price can go a bit up or down depending on the city. The cheapest ones are in the North, like: Kolasin, Niksic, Rozaje, Plav, Gusinje, while the most expansive ones are in the coastal cities like: Budva, Bar, Herceg Novi. Contact us for more information
Do I also need a Registered Office?
You don’t need to buy or rent an office space. We'll manage your business address, mail, and ensure compliance with tax regulations for your convenience.
Not sure where to begin?
Schedule a free 30-minute discovery call to discuss starting & operating your company and obtaining the residency permit in Montenegro.