Important and useful facts
1. Every foreigner who comes to Montenegro must register with the tourist office within 24 hours of entering the country.
2. In Montenegro company can not have pasive status. But basic activity can be achived with basic payments of employee contributions for executive director.
3. Residence and work permit is related with employee status NOT with ownership status.
4. Every company ltd, should have at least one employee (executive director) and for him is obligated to pay employee contributions.
5. Employee contributions, company should pay every month, no later till the 15th of the current month for the previous month.
6. Each company is obliged to prepare and submit the final finacial report for the previous year by March 31. current year
7. Each Montenegro tax payer (person) is obliged to prepare and submit the personal tax report for the previous year by April 30.
8. 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.
9. 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.
10. Company registration can be done without your coming to Montenegro, through power of attorney you can send us.
11. The expiration date of the passport must be longer than 3 months from the validation period of requested id.
12. To extend the residence and work permit, it is necessary to pay all taxes and contributions in advance.
13. A temporary residence and work permit for entrepreneurs and executive directors in business entities where they are the only owners or where they own more than 51% of equity may be extended as long as they fulfil the conditions as per Article 43 of Foreigner Law. This is especially importaant before 3rd renewal (4th id). Police reject 3rd renewal (4th id) if foreigner is not executive director and minimum 52% owner of the company at the same time.
14. According to article 86 Foreigner law, a permanent residence permit (permanent ID) may be issued to a foreign national who, until the date of filing the application for the permit issue has: legally resided in Montenegro, for uninterrupted* five years, has a valid travel document, has permanent, regular and sufficient funds to support himself, has health insurance, has accommodation provided for, has knowledge of the Montenegrin language at the level which enables elementary communication. *The foreign national shall be considered to have uninterruptedly resided in Montenegro when in the period of five years he was absent from Montenegro several times, up to ten months in total, or was absent one time, up to six months.
15. The physical presence of a foreigner is required for the submission of a residence and work permit as well as for its extension.
16. Banking practice in Montenegro enables the opening of domestic and foreign accounts separately.
17. 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.