Business in Montenegro

In this beautiful country there are many the most beautiful beaches and an old cozy street. But for local authorities, it is a great pride to simply open and run business here for foreign citizens. We will tell you how to open a business in Montenegro and how it is remarkable.

Tourism

Montenegro is a small country, it is home to six hundred thousand citizens. This is equal to the average regional center. In this regard, large-scale ideas are not suitable.

If you are going to organize a business in Montenegro, it is necessary to bear in mind that the country with its own specifics, so the business plan should be prepared taking into account local trends. Do not think that the usual services or goods will be successfully used in Montenegro. The average level of income in the country is not very high, so we know expensive goods, there will be no demand.

According to experts who want to open their own business in this country, you should keep an eye on the foreign consumer, look at the tourism sector.

Car hires

Great popularity among tourists is rental of cars and different: the old and the mainstream, and luxury. If we take into account the popularity, the competition in this business is great. But the country annually attracts more tourists who prefer to travel around Montenegro by car, so it is very profitable to invest. The only drawback is the seasonal nature, the influx of tourists lasts from may to September.

Beauty treatment

There are also options: a beauty salon or a restaurant. Both options bring year-round income. In order for the restaurant to be recognized not only as a resting place, but also as a local citizen, it is better to cook traditional dishes.

Beauty salons in the country a lot, but quality — a little. In this regard, opening the salon you need to rely on qualified professionals. One option may be a kindergarten. Small cozy kindergartens are very popular here, so they are never empty.

Registration and purchase of business in Montenegro

There are still many activities to do in the country. For example: to invest real estate for rent. You just need to take into account the needs of residents and the preferences of tourists and foreign guests. 

It is very simple to open the enterprise in the country. The procedure takes place so quickly that, according to experts, Montenegro is considered to be the leader among European countries in terms of speed of business registration. The government also wouldn't mind if all will be invested in foreign investments, except for sectors associated with national security.

Well, about the procedure. Having chosen business and team of partners, it is necessary to prepare a paper about establishment of the enterprise. The documents are submitted to the Central chamber of the commercial court. If it has passed, then in five days you will get a registration for your company.

Then you should get an identification number and open a Bank account. If theoretically, by law, commercial activity can be started immediately. And experience shows that the process lasts from several weeks to several months. Montenegrin officials, who require additional work permits for the enterprise, are hindering the work. And it's not that the difficulty in obtaining documents or have to stand in queues, just Montenegrin officials is very slow. According to the recommendations of experts, you need to know the local legislation, and the timing when you have to issue a document, and of course, not be afraid to remind officials.

But there is another way out, not to waste time on all these actions, not to start a business from scratch, but just to buy it. This option with a working case, especially in the tourism business, is very popular. After all, all the documents are ready, money costs are reduced, and the work is moving. In addition, the price of such a “business on a saucer” is quite acceptable: a small hotel can be purchased for only 200,000 euros.

Residence permit

While doing business, you can live in the country on a temporary residence permit. After five years, the entrepreneur can issue permanent residence, and then citizenship.