Important and useful facts

1. In Montenegro company can not have pasive status. But basic activity can be achived with basic payments of employee contributions for executive director.

2. Residence and work permit is related with employee status NOT with ownership status.

3. Every company ltd, should have at least one employee (executive director) and for him is obligated to pay employee contributions.

4. Each company is obliged to prepare and submit the final finacial report for the previous year by March 31. current year

5. 60 days from the establishment, the company is obliged in accordance with Article 43 of the Law on Prevention of Money Laundering and Terrorist Financing (Official Gazette of Montenegro No. 33/14 of 04.08.2014) to appoint authorized persons for the detection and prevention of money laundering and terrorist financing.

6. The obligor (company) is obliged to, within 60 days from the day of establishment, make a risk analysis which determines the assessment of business risk.

7. Company registration can be done without your coming to Montenegro, through power of attorney you can send us.

8. The expiration date of the passport must be longer than 3 months from the validation period of requested id.

9. To extend the residence and work permit, it is necessary to pay all taxes and contributions in advance.

10. Every foreigner who comes to Montenegro must register with the tourist office within 24 hours of entering the country.

11. The physical presence of a foreigner is required for the submission of a residence and work permit as well as for its extension.

12. Banking practice in Montenegro enables the opening of domestic and foreign accounts separately.

13. Every foreigner applying for a residence and work permit must bring a certificate from the country of origin that he has not been criminally convicted by imprisonment for more than 6 months.