Hire your remote team in Montenegro

Name: Hire a remote team in Montenegro
Brand: Rivermate
SKU: montenegro
Price: 499 EUR
Availability: InStock
Rating: 4.4 (5 reviews)

Only 499 EUR per employee per month

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Hiring a remote team in a country as Montenegro comes with a lot of overhead, such as compliance, local laws, taxes, etc. As a company, you don't want to worry about knowing all the local laws. Instead you want to focus on your remote team and the business. Rivermate's Employer of Record (EOR) solution helps companies hire remote employees in Montenegro. We take care of global payroll, taxes, benefits, compliance and HR activities. So you can focus on growing your business.

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1. Hire a remote team in Montenegro with Rivermate

Payroll, benefits, taxes, and compliance can be difficult to manage in Montenegro, particularly if you don't have established local relationships. You can hire employees in Montenegro effectively, conveniently, and in full compliance with all relevant labor laws using Rivermate's global Employer of Record (EOR) solution. We handle the responsibilities and legal risks associated with foreign employment so you can concentrate on growing your company.

Table of contents

Hire a remote team with Rivermate
Introduction
Hiring a remote team in your country
Cost of living
Cost of renting
Major industries
Hiring cost
Employment laws
Top skills
Economic landscape
Market size
Minimum wage
Why choose Rivermate?

2. Introduction

Rivermate is a global employment solutions company that provides Employer of Record services in Montenegro.

As an employer of record, we help you hire employees and run payroll services in Montenegro, allowing you to avoid the necessity of first establishing a branch office or subsidiary in Montenegro.

It is not necessary to establish an entity in order to hire an employee. We can hire your employee in any country with a few mouse clicks. Using our Employer of Record solution, you can have full compliance, benefits, and automated payments.

If you wish to hire a remote team in Montenegro or individually hire remote employees in Montenegro, Rivermate’s global employer of record services will make sure that the process will be as seamless as possible for you.

Send us a message so we can talk about how Rivermate’s Employer of Record Montenegro services can best help your company!

3. Hire a remote team in Montenegro

Montenegro, which translates as "Black Mountain," is a country in southeastern Europe. The country is located on the Adriatic Sea and is considered a Balkan country. As the COVID-19 pandemic spread around the world, Montenegro was severely impacted, particularly in terms of the country's economy and livelihood. The situation had become so dire that the country had entered a state of recession.

According to the World Bank, economic growth has slowed to 9%, resulting in job losses and poverty. Following the country's disastrous financial situation, the market began to recover in early 2021, when Article 42 of the Montenegro Labor Act was implemented. Companies began to assign work from home and look for remote workers as a result of this act. Currently, 35.4% to 40% of organizations face a talent shortage. The gap exists because either the skills they require are not available in the market or there is a low level of activity, despite the country's challenges with unemployment.

4. Cost of living in Montenegro

Montenegro's cost of living is $655, which is 1.42 times less expensive than the global average. Montenegro ranked 130th out of 197 countries in terms of cost of living and 73rd in terms of quality of life.

Montenegro's average after-tax salary is $611, which is enough to cover living expenses for 0.9 months.

5. Cost of renting in Montenegro

Even though Montenegro is a small country surrounded by historic cities, the cost of living varies. The cost of living in cities is significantly higher than in other towns. In Montenegro, a person can live for as little as EUR 10.15 per day.

Large cities have higher expenses, whereas smaller cities have lower costs. Niki, Podgorica, Pljevlja, Bar, Cetinje, and Herceg Novi are among the major cities.

6. Major industries in Montenegro

Because the country's economy is small, the Montenegrin government is focusing on transitioning from a planned to a market economy.

Agriculture is the country's most important industry. The manufacturing industry is another significant industry. The industry contributes significantly to the country's export growth, as 90% of Montenegro's aluminum and steel are exported. The country's aluminum production capacity is 100,000 tons, and its steel production capacity is 400,000 tons.

The average internet speed in the country is 59.74 Mbps for fixed internet connections and 40.69 Mbps for mobiles. Fixed broadband download speeds are 60.02 Mbps and upload speeds are 9.33 Mbps, whereas mobile download speeds are 44.79 Mbps and upload speeds are 17.33 Mbps. As a result of COVID-19, the government is focusing even more on implementing flexible remote working conditions in the country.

7. Hiring cost in Montenegro

Employers in Montenegro must pay EUR 217.32 to hire employees who must work eight hours per day, or 40 hours per week. The amount of time spent on labor cannot exceed 10 hours per day, or 50 hours per week. Employees have 20 days of annual leave, and employees who work six days a week can work 24 days in a month.

8. Employment laws Montenegro

Montenegro follows the 2008 Labor Act, which includes a detailed description of labor rights. It includes monetary claims from work, workplace systematization, and fixed employment agreements. The new Labor Act (OGM, no.74/19) went into effect in January 2020, as Montenegro passed the regulation to harmonize with EU acquis under the Stabilization and Association Agreement with the European Union. The act provides employees with the following benefits.

- Monetary claims

- Public announcement of the vacant posts

- Agreements based on fixed-term employment

- Employee agreement annexation

- Work time maintenance

- Employee termination

- Dispute resolution

- Penalty provisions

9. Top skills Montenegro

Despite being a popular tourist destination, Montenegro does not have a large job market, as the growth prospect for fast and high earning is relatively low. Furthermore, due to the country's small size, the unemployment rate is 19.5%. As a result, it is safe to say that prospective employees will face increased market competition to find work. There are four types of jobs available in the job market.

1. Permanent job

2. Seasonal job

3. Temporary job and

4. Freelance employment

In terms of permanent jobs, the banking, healthcare, technology, and manufacturing industries are the most active.

Seasonal work is sought after by prospective employees in the hotel, restaurant, and tourism industries. Real estate and diving are also considered seasonal job opportunities.

There are few opportunities for temporary work. Short-term projects for the industrial and manufacturing sectors are included.

The freelancing market, on the other hand, is quite large, as there are many internet sites that offer freelancing opportunities, such as www.freelancehunt.com, www.freelansim.ru, www.fl.ru, www.24freelance.net, and www.freelancejob.ru.

Professionals are in high demand in city center areas, where tourists are most likely to visit. Montenegro's real estate market is rapidly developing as many people from the Commonwealth of Independent States (CIS) countries and Russia visit for work. Aside from that, the following professions are in high demand:

1. Administrator

2. Manager

3. Hotel manager

4. School teacher

5. Doctor and nurse

6. Photographer

7. Cook

8. Waiter/waitress

9. Engineer

10. Carpenter and plumber

There are also positions available for lawyers, accountants, state officers, and attorneys. Montenegrins can find work through Thematic online job boards, social media pages, local newspapers, and recruitment agencies. Furthermore, word of mouth is a common way for locals to find work in the country. Prospective employees must have the following qualifications in order to land a great job in the city center:

- Sales skills

- Foreign languages skills

When there is so much talent available, it can be difficult to find the right people for your team.

10. Economic landscape in Montenegro

According to World Bank data, Montenegro's economy is small but open. Following the pandemic, the economy is expected to recover, with a 7.1% increase in Gross Domestic Product (GDP) in 2021. Furthermore, the economy is expected to grow by 3.5% by the end of 2023. The World Bank predicted in October 2020 that the economy would grow by 6.9% by the end of 2021.

11. Market size in Montenegro

The coronavirus outbreak has severely harmed Montenegro's market. To mitigate the impact on the labor market, the government implemented a wage subsidy program, with EUR 80.9 million distributed to employees. Because the service sector was severely impacted, the government paid 90% of the wages. However, because the economy's growth prospects are expected to improve by 6.9% in 2021, the job market will improve as well.

12. Minimum wage in Montenegro

Montenegro's minimum wage has been set at 331.3 EUR per month from June 2019.

13.Why choose Rivermate to hire your remote team in Montenegro?

Establishing an entity in Montenegro to hire a team takes time, money, and effort. The labor law in Montenegro has strong worker employment protection, requiring great attention to details and a thorough awareness of local best practices. Rivermate makes expanding into Montenegro simple and effortless. We can assist you with hiring your preferred talent, managing HR and payroll, and ensuring compliance with local legislation without the hassle of establishing a foreign branch office or subsidiary. Our PEO and Global Employer of Record (EOR) solutions in Montenegro give you peace of mind so you can focus on running your business. Please contact us if you'd like to learn more about how Rivermate can help you hire employees in Montenegro via our Employer of Record (EOR) / PEO solution.