Frequently Asked Questions
How can I get Montenegro residence permit?
The residence permit is issued on the ground of a work permit. To apply for the work permit an application from an employer (a local firm or a company of your own) is required. We will register a company on your name and help to prepare all necessary documents. When all preliminary paperwork is done, the documents are submitted to the local police for processing.
Note. The above procedure is available only for the foreigners who do NOT need a visa to enter Montenegro. Foreigners who need a visa to enter Montenegro have to apply for a work permit at the Montenegro Embassy in their home country.
What documents are required?
Your valid passport is all you need to have a company registered in Montenegro.
To apply for a work permit and, respectively, for a temporary residence permit, you will need a proof of your address in Montenegro (the address you are supposed to reside during your 12 months residence permit duration), a bank statement confirming you have at least 400 euros on your personal account with a bank in Montenegro); a registration card a tourist gets on arrival to Montenegro (the so-called "bjeli karton") plus all application forms to be signed at our lawyer's office.
What is the procedure of a firm registration and obtaining residence permit?
A firm can be registered either remotely via a Power of Attorney (please email us for details) or on your arrival to Budva.
To apply for a temporary residence permit you will need to come to Budva to complete the paperwork at our lawyer's office including a Power of Attorney, which is necessary to register a firm for you. Once the firm has been registered and the work permit obtained, the lawyer prepares a set of documents, which you would need to submit to the police personally. The police will also take your photograph and finger prints. The documents processing time is 20–30 days. After this term you should visit the police to get the temporary residence permit stamp into your passport. The permit duration is 12 months and it should be renewed on the anniversary date if you do not wish it to be interrupted. Renewal will require almost the same set of the documents as the initial application. In case the residence permit is renewed for 5 years in a row (without interruption), the applicant may apply for permanent residence in Montenegro.
How long will it take to register a firm in Montenegro?
Firm registration takes 10–15 days, obtaining a work permit takes 2–3 days. Then the documents are submitted to the police for obtaining a temporary residence permit. To register a firm you should come to Montenegro, meet with our lawyer and sign a Power of Attorney to enable us to act on your behalf. To commence business the firm should get a taxpayer number, register with a pension fund and open a local bank account.
How long will it take to get residence permit in Montenegro?
Firm registration takes 10–15 days, obtaining a work permit takes 2–3 days. Then the documents are submitted to the police. Processing time is 20–30 days. Residence permit duration is 12 month.
What is the firm incorporation cost?
Company incorporation costs EUR 550. Besides the incorporation we can assist with the company ongoing support, like opening a corporate bank account, obtaining a tax number and bookkeeping.
What are the additional expenses associated with the company operation?
Having a company in Montenegro requires time and money even if the company has been registered for the sole purpose of obtaining the residence. You would need to hire an accountant and pay wages plus social security, health care, etc. for every employee. Yearly minimal expenses for a company with two employees (a director and a secretary) will make up about EUR 1900–2000. In case the D.O.O. has no profit, it is not supposed to pay tax on profit – 9%.
Can an entrepreneur get a residence permit in Montenegro?
We can help to obtain residence permit for an entrepreneur. A person registered in Montenegro as an entrepreneur pays fixed monthly amount – a few hundreds euros (including pension fund and medical insurance charges) depending on the planned turnover and activity category, regardless of whether he gets profit or not.
What is income tax rate in Montenegro?
Corporate tax rate is 9%. Individual income tax – 9%.
What is VAT rate?
Standard VAT rate is 17%. Reduced rate – 7%.
Where is your firm located? Do you have any English-speaking staff?
We are located in Budva. Although we do not have English speaking staff we use translator's services when necessary. That is why it is important to discuss all points beforehand via email.
Will my long-term absence affect obtaining of the next residence permit?
We have been assured by the police that as a residence permit is issued based on work permit, an applicant can leave Montenegro and the period of his/her absence will not matter as long as the applicant pays all taxes and is permanently employed.
Could you assist with the commercial property purchase?
Our realtors are in property business for decades and are experienced enough to guide you through the whole property purchase procedure including the property documents check, preparing the documents necessary to finalize a transaction, certifying the purchase with the Court and filing of your title with the Cadastre.
Can foreigners own land in Montenegro?
The law allows foreigners to invest into commercial or residential property in Montenegro without any obstacles. There are no limitations on the property size or the investor's nationality. Our Agency will be able to guide you through the whole procedure and provide any advice necessary for closing the transaction. Beginning September 2009 foreigners are allowed to buy land in Montenegro on the usual terms.
What is the property purchase procedure?
The procedure of purchase and sale is not complicated and takes a few days only – when you find a property to buy, we make the property check with the Cadastre and (if the property documents are clean) draft the Contract stipulating the terms. Then you will be supposed to pay a collateral (10% of the purchase amount usually) and pay the rest within a month time (standard term). The property title is transferred then and the transfer is certified at Court. Then the new owner may move in and submit the documents to the Cadastre for filing.
If I get to Montenegro on foot without any documents.
It is impossible to get work permit or obtain residence permit in Montenegro without a passport.
May I obtain a work and residence permit and bring a child and a wife with me to Montenegro?
Law foresees issuing a residence permit for a spouse, but in practice it is preferable to obtain work and residence permit for both husband and wife. A child gets the residence permit when a parent gets it.
