We provide results-oriented financial consultancy services for all your investments in Montenegro with our professional staff. Our priority is to make a positive contribution to your business with our high accounting standards.
We provide up-to-date advice on new financial laws, and regulations on existing articles. Expect outstanding follow-up service from our company for all your legal obligations that you must comply with in order to obtain and maintain Montenegro work permits.
Financial Consultancy Services:
• Monthly insurance premium payments
• Dual citizenship tax regulations
• Personal Tax payments
• Value-added tax
• Financial statements for foreign investors
• Financial bookkeeping for companies
• Balance sheet audit
• Preparation of declarations
• Credit calculations
Don't Risk Your Montenegro Residency Permits
Do not risk your residence and work permits in Montenegro due to incorrect or incomplete applications that are not given on time.
As your Montenegrin residence and work permits will be renewed annually, we recommend you to act meticulously to benefit from our experienced staff who are competent in the legislation. We provide the most effective solution within the scope of current legal principles for any financial problem you may encounter as a foreign investor and employee in Montenegro. Don't lose your new life in Montenegro by handing it over to inexperienced people.
Montenegro Accounting and Bookkeeping Requirements
All legal entities in Montenegro are obliged to keep commercial books. The books that prepared according to double sided bookkeeping system are composed of auxiliary records, diaries and master books.
All of your accounting records are arranged and kept on an accrual basis in Montenegro by our company. The audit of financial statements is performed in accordance with the rules set forth by the International Auditing Standards (IAS).
Montenegro Tax System
The first thing that a foreign investor do is to examine the tax system of the potential country before they make any investment. At this stage, the most examined rates are the factors that directly affect the investor such as income tax rates, insurance premium rates. They also check if there is double taxation options available. The Montenegrin tax system attracts foreign investors from many parts of the world with smart incentives and low tax rates.
Advantages of the Montenegrin Tax System for Foreigners:
• Digital invoice issuance
• VAT exemption up to € 18,000
• Regional Tax exemption up to 70% for the first 5 years
• Income tax is only 9%
• No additional taxes
• Withholding Tax is 9%
• Property tax ranges from 0.25% to 1%
• Tax losses (losses) can be postponed up to 5 years
• No local taxes
Montenegro Insurance Premiums
After obtaining a residence and work permit in Montenegro, you must pay your insurance premiums regularly. The fact that you are working in your own company does not constitute a problem in terms of work and residency permits. This requires a contract between your company and yourself.
Our company provides services to foreign investors for monthly insurance premium payments and employer contracts. Please pay attention to these details so that your permits can be renewed easily each year.
Montenegro Insurance Premium Rates
Available Montenegro Incentives
In recent years, many local economic incentives by the municipalities have been offered to foreign investors in order to develop certain regions. You can get detailed information on employment, rent, under market value land, tax and income incentives from our firm. We prepare the necessary financial analysis for your investment plans and then carry out all transactions for your incentive applications on your behalf by proxy.
What are the current depreciation rates in Montenegro?
You can get service for the calculation of depreciation of your company and assets In Montenegro from our company. In Montenegro, taxpayers have the right to apply accelerated depreciation. The applicable depreciation rates are set out in the table below.
Intangible and fixed assets are calculated in 5 separate groups.
Montenegro Minimum Wage and Recruitment
In Montenegro, the minimum wage is much lower in comparison to other European countries. As of 2017, the minimum wage amount for foreign investors to pay to their employees is 288 Euro per month. This wage is calculated for the full working hours of 176 hours per month based on the employee's standard job performance.
By law, employees must be over 15 years of age. You can take advantage of our human resources services when hiring new staff. If you want to bring contracted personnel from abroad, there is no sector restriction for skilled personnel.
In Montenegro, the weekly working time is 40 hours. According to the Labor Law, Montenegro's severance pay is equal to a minimum of 6 salaries. Employees who do not come to work for five consecutive days or who do not attend 7 days and those who do not comply with the conditions stated in the employment contract can be let go by the employer. Maternity leave is calculated as 12 months, during which the employer pays the employee's salaries but then receives a full refund from the government.
Montenegro Financial Consulting Services
You can count on our specialized staff with peace of mind for all your withholding tax, income tax, value added tax, insurance premium obligations to be meticulously arranged and deposited without disruption in accordance with the current financial law in force.
We are at your disposal for all your financial consultancy needs, contact us for more information and to start your transactions immediately.