Several factors might have a substantial influence on the time required and the type of the incorporation procedure. Because various areas or localities may have their own Montenegro subsidiary laws, your location, for example, might have an influence on pricing, availability, and more. If you are unfamiliar with the region, we suggest working with a consultant who can assist you discover the finest place inside the nation.
Another essential consideration is the nature of your organization. Montenegro permits you to incorporate as a private limited company, a public limited corporation, a branch, and other types of businesses. However, for flexibility and advantages, most businesses incorporate as a private limited company, commonly known as a limited liability corporation (LLC).
The following stages are involved in forming your LLC:
1. Choosing a distinct trade name that differs from the name of your parent firm
2. Checking the legitimacy of your selected name
3. Creating a Memorandum of Association and Articles of Association
4. Opening a local bank account and depositing the required share capital
5. Obtaining a tax and VAT registration
6. Obtaining a Montenegrin employer identification number from the Montenegrin government
7. Applying for licenses with the appropriate authorities, organizations, or institutions depending on your applications