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Montenegro, new business destination
The corporate income tax rate is the lowest in the region, while tax exemptions in areas with a development index below 75% have contributed to Montenegro being labelled as a 'tax haven' of the Southeast Europe. The tax system of Montenegro is modern, flexible and consistent, and this is also the case when it comes to foreign citizens.
Favourable tax system
At only 9%, Montenegro has the lowest corporate income tax rate in Europe. This fact is one of the main incentives for setting up a company in Montenegro. You can also get a discount of 6% to this amount if you settle all your obligations related to the setting up process itself by 31 March. The dividend tax is also only 9%. There is a tax loss carryforward allowed in the next 5 years.
International accounting standards
The application of international accounting standards, as well as laws harmonised with EU directives, facilitate financial reporting and consolidation with foreign parent companies. International standards incorporated into accounting enable international business networking with companies from other countries.
Preventing double taxation
Montenegro has signed 43 double taxation avoidance agreements, out of which 36 are already active, while 7 signed agreements are in the process of ratification.
Liberal economic regime
As a new business destination, Montenegro certainly holds a lot of promise, as evidenced by investors coming from all over the world. They come from the European Union member states, as well as the Russian Federation, but also countries such as Egypt, Turkey, Israel, Argentina, Uruguay, Bolivia, etc.
Opportunity for a successful business with the lowest tax
According to the estimates of the World Bank Doing Business Report 2020, Montenegro’s economy ranked 50th out of 190, in terms of the ease of doing business, but also of the very running of a business. This fact in itself says a lot about favourable opportunities and genuine chances.
Political, monetary and economic stability
Montenegro is a secure, economically viable and politically stable country with promising proclivity for further economic growth. As a member of the Eurozone, a member of NATO, a candidate for EU membership and a full member of the World Trade Organization (WTO), Montenegro guarantees economic and political stability, which is a basic prerequisite for business development.
Plenty of investment opportunities
In the annual report of the Fraser Institute, Montenegro ranks 28th out of 144 countries on the list of the degrees of economic freedoms. The liberal economic regime of foreign trade is another in a series of factors that make Montenegro the right destination for high-quality investments.
Attractive and profitable business environment
Montenegro is connected by direct flights with almost all European business centres (London, Rome, Moscow, Vienna, Istanbul, Paris, Berlin, Brussels, Dubai, Munich, etc.). In addition to its two international airports, four seaports, as well as developed road and railway infrastructure, the implementation of the Bar-Boljare highway construction project has begun, which will place Montenegro among the top investment destinations in the region.
Equal tax treatment
When starting a business, foreign investors have the same rights and obligations as Montenegrin citizens. Furthermore, in addition to owning a business, they have the right to own real estate, as well as to obtain economic citizenship. The state guarantees full protection of foreign investors.
Simple start-up and banking system security
Within a single process, you can obtain a certificate of incorporation, PIB number, VAT number and customs number, while, after this registration, a bank account can be opened in just 30 minutes.
Heart of Europe
In a single day, you can treat yourself to a morning coffee on one of the many beaches of the Budva Riviera, have lunch next to the unique landscape of Skadar Lake, and dine by the fireplace on the slopes of the magnificent Durmitor Mountain. If the weather conditions are right, it is possible to experience skiing and swimming on the same day.