Remote opening of a company in Montenegro and obtaining a residence permit. Full package.
We will save you from “empty” flights, we will save you months of your life - on your personal presence here to study the subject, as well as the costs of living during this period in a country whose language and customs are not familiar to you.
Our service includes:
- Translation of all necessary documents into Montenegrin language
- Nostrification of an education document - a university diploma or school certificate
- Obtaining a legal address of the company
- Opening a company
- Opening a company current account
- Annual accounting support, payment of taxes and submission of all tax reports of the company, with receipt of all Tax Payment Certificates from the tax authority
- Preparation of a package of documents for obtaining a residence permit for the owner of the company
- Search for the necessary rental property - to confirm the residence address of the company owner, support for the conclusion of a 1-year lease agreement (a prerequisite for accepting documents for a residence permit).
Starting from the next year of your stay in the country, the procedure for collecting documents is simplified and only includes receiving a Certificate from the tax authority confirming the payment of all state taxes and duties, Confirmation from your company about the position held and the duration of the working week, medical insurance, and payment of state duties. We provide these services to our regular customers every year in an additional format.
List of required documents***:
- Power of attorney in the name of an employee of our company - for nostrification of the Diploma
- Power of attorney in the name of an employee of our company - for registration of your company
- Certificate of good conduct
- Copy of Diploma with grades or school certificate
- Company name and main activity
- Copies of passports of the owners of the company being opened
All listed documents, in electronic form, are sent to our company’s email address: [email protected]
***all copies of documents must be apostilled before being sent to our email address. Originals are sent via DHL to a postal address, by registered mail. 85310, Montenegro, Budva, Ulica 16, Lokal#7, DOO EMG Possession
After completing the nostrification of diplomas and opening your company, your presence is required when submitting documents for a residence permit, and its receipt - these actions, in accordance with the Laws of Montenegro, cannot be carried out by an authorized person - only by the Applicant personally.
The Applicant's immediate relatives who need a residence permit, will receive it upon family reunification. We generate all the necessary documentation in parallel with the documentation of the main Applicant - for an additional fee.
Our service is paid officially, to the bank account of our company.
Conclusion of the Agreement and full support until the official receipt of a residence permit.
Condition of provision – 100% advance payment.
Price 29000 euros
For more information, contact us:
- email address: [email protected]
- phone/viber/whats app +38269543541
Residence permit in Montenegro when buying real estate or opening a company – Conditions and requirements
Holders of a Montenegrin visa or foreigners entitled to a visa-free visit to the Balkan country can stay on Montenegrin soil for no more than 90 days during an arbitrary six-month period.
Therefore, if such a foreigner decides to spend more than 3 months in Montenegro within a six-month period, he will need to apply for a Montenegrin residence permit (called Privremeni Boravak in local language), which allows foreigners to stay in Montenegro for a maximum of one year.
A residence permit in Montenegro can be renewed annually, but only for one year. Its registration is regulated by the law “On Immigration of Montenegro” (Zakon o Strancima), which came into force in February 2018, and to which a number of important amendments were made in January 2019.
The law provides for nearly a dozen grounds for obtaining a temporary residence permit (RP). The most popular are family reunification, training, status as a yacht crew member or yacht owner, business (business ownership and employment), and ownership of Montenegrin real estate.
Below is more detailed information about obtaining a residence permit for real estate in Montenegro and/or when opening a business in the country.
Residence permit in Montenegro when buying real estate or opening a company – Conditions and requirements: residence for real estate in Montenegro
It is important to mention that, unlike the immigration laws of many other European countries, Montenegrin relevant legislation does not impose any restrictions on the value or size of real estate, the purchase of which serves as the basis for issuing residency to a foreigner. That is, you can de jure buy any real estate in Montenegro, and then on this basis obtain a residence permit in the country.
When applying for a residence permit for real estate in Montenegro, it should be taken into account that, as stated in the new version of the relevant law, a residence permit for the purchase of real estate can be obtained if the applicant’s share of joint ownership is at least 1/2 (Article 56 of the law) .
Is it possible to obtain a residence permit for real estate in Montenegro in the form of a plot of land? The answer is yes. But there is one “but”. It should be warned that the acquisition of just a piece of land is not enough to register a Privremeni Boravak. It will also be necessary to build a house there, which must subsequently be officially registered.
Residence permit in Montenegro when buying real estate or opening a company – Conditions and requirements: business immigration
Regarding business immigration, it should be emphasized that a foreigner who founded a company in Montenegro CANNOT obtain a residence permit just because he is the founder of a Montenegrin company.
Montenegrin immigration legislation does not provide such an opportunity. Very often, foreign founders of Montenegrin companies employ themselves in their company as an executive director and obtain a residence permit as an employee.
Obtaining a residence permit for starting a business and/or employment involves registering your own firm for employment purposes as just the first step (or getting a job with a firm that will be willing to do this for you). You will also need to prove that you have a place to live in Montenegro (step two) - that is, your own or rented accommodation.
If you live in your own house or apartment, you will need to provide a document confirming ownership of the relevant property (in Montenegrin this document is called List Nepokretnosti), issued in your name. If you do not have your own home, you will need to rent an apartment and show the host country authorities your rental agreement.
You will need to show a current bank statement to prove that you have funds in your bank account in Montenegro. You will then need to contact the Montenegro Employment Office to obtain a work permit.
Owning a company in Montenegro is also not an easy task - especially if the company does not make a profit and is registered only for the purpose of obtaining residence for the owner and maintaining such a residence permit.
Even an inactive company will require some attention and expense. It will be necessary to hire an accountant and pay monthly social security and health insurance contributions for all employed personnel.
A rough calculation of annual expenses for a company with two employees (director and secretary) suggests an amount of 1900–2000 euros. The cost of registering a limited liability company in Montenegro is 550 euros (including legal fees and all associated legal costs).
Please note that, as stated in the new version of immigration legislation, you can obtain a residence permit in Montenegro by holding the position of executive director in several Montenegrin companies. Labor laws regulate the details of such employment. For ordinary employees, not directors, nothing has changed.
The latest version of the law also states that foreigners over 67 years of age can now obtain a residence permit in Montenegro as workers: an individual entrepreneur or an executive director. In case of occupying the position of executive director, certain conditions will need to be met: the foreigner must not only be the executive director of his company, but also have a share in the authorized capital of at least 51%.
Previously, employment of foreigners over 67 years of age was not available due to restrictions in the Labor Law. Considering that the Immigration Law does not provide grounds for obtaining a “retirement” residence permit, this amendment is more or less a compromise.
Residence permit in Montenegro when buying real estate or opening a company – Conditions and requirements: business immigration
Regarding business immigration, it should be emphasized that a foreigner who founded a company in Montenegro CANNOT obtain a residence permit just because he is the founder of a Montenegrin company.
Montenegrin immigration legislation does not provide such an opportunity. Very often, foreign founders of Montenegrin companies employ themselves in their company as an executive director and obtain a residence permit as an employee.
Obtaining a residence permit for starting a business and/or employment involves registering your own firm for employment purposes as just the first step (or getting a job with a firm that will be willing to do this for you). You will also need to prove that you have a place to live in Montenegro (step two) - that is, your own or rented accommodation.
If you live in your own house or apartment, you will need to provide a document confirming ownership of the relevant property (in Montenegrin this document is called List Nepokretnosti), issued in your name. If you do not have your own home, you will need to rent an apartment and show the host country authorities your rental agreement.
You will need to show a current bank statement to prove that you have funds in your bank account in Montenegro. You will then need to contact the Montenegro Employment Office to obtain a work permit.
Owning a company in Montenegro is also not an easy task - especially if the company does not make a profit and is registered only for the purpose of obtaining residence for the owner and maintaining such a residence permit.
Even an inactive company will require some attention and expense. It will be necessary to hire an accountant and pay monthly social security and health insurance contributions for all employed personnel.
A rough calculation of annual expenses for a company with two employees (director and secretary) suggests an amount of 1900–2000 euros. The cost of registering a limited liability company in Montenegro is 550 euros (including legal fees and all associated legal costs).
Please note that, as stated in the new version of immigration legislation, you can obtain a residence permit in Montenegro by holding the position of executive director in several Montenegrin companies. Labor laws regulate the details of such employment. For ordinary employees, not directors, nothing has changed.
The latest version of the law also states that foreigners over 67 years of age can now obtain a residence permit in Montenegro as workers: an individual entrepreneur or an executive director. In case of occupying the position of executive director, certain conditions will need to be met: the foreigner must not only be the executive director of his company, but also have a share in the authorized capital of at least 51%.
Previously, employment of foreigners over 67 years of age was not available due to restrictions in the Labor Law. Considering that the Immigration Law does not provide grounds for obtaining a “retirement” residence permit, this amendment is more or less a compromise.
Residence permit in Montenegro when buying real estate or opening a company – Conditions and requirements: residency requirement and requirements of local authorities
Another important detail is that in each city of Montenegro, local authorities have their own additional requirements regarding the documents required to apply for a residence permit.
You must also prove your solvency to the Montenegrin authorities. This means that you must have €3,650 in your Montenegrin bank account per person per year appearing in an individual or group residence permit application. In addition, you will need to pay a state fee for processing an application for a residence permit in Montenegro in the amount of 25 euros.
It is important to remember that if you have a valid temporary residence permit, you can only be away from Montenegro for one month a year. If you plan to leave for 90 days, you will need to inform your immigration officer.
Finally, the maximum period for immigration officials to make a decision, whether positive or negative, on an alien's application for a residence permit was reduced in January 2019 from 20 to 15 days.
Residence permit in Montenegro when buying real estate or opening a company – Procedures
The process of obtaining a residence permit in Montenegro when buying real estate or opening a company usually includes 3 or 4 stages:
Purchasing real estate and/or opening a company (the applicant can perform these actions independently or with the support of an immigration agent).
Consultations with an immigration agent and collection of all documents.
Apply for a temporary residence permit at the police station and receive your Privremeni Boravak.
Completion of all procedures for employment, registration with tax authorities and the public health insurance system (except Privremeni Boravak for property owners).
The processing time for an application, as noted above, now takes no more than half a month. The whole process takes approximately 1.5 months. Usually there are no problems with obtaining a temporary residence permit if your documents are prepared correctly.
Residence permit in Montenegro when buying real estate or opening a company – Documents
The documents that you need to take with you to apply for a residence permit in Montenegro based on the purchase of real estate and/or opening a company and employment in it are presented below:
A valid passport or other identification document (for all applicants for an individual or group application, including children).
A diploma or other relevant document confirming the education of the applicant and his dependents (school, college, university diploma or academic degree).
Certificate of no criminal record (from the country of origin or previous residence) - no older than six months; is issued only for persons aged 16 years and older.
Marriage certificate - for the main applicant and his spouse.
Birth certificate - for children under 18 years of age.
Certificate of ownership of real estate (in local language called List nepokretnosti) - to confirm the fact of ownership or rental of real estate in Montenegro.
A bank statement confirming the solvency of the applicant and his dependents.
Documents related to business immigration, such as health insurance, corporate documentation and so on, which will need to be prepared directly in Montenegro.
Translation of all documents originally prepared in a foreign language must be performed in Montenegro by a translator licensed to carry out the relevant activities by local authorities.
Also check if you need an apostille for your documents. If your country is a party to the Hague Apostille Convention and there are no additional bilateral agreements between your country and Montenegro, you will need an apostille.
buying real estate or opening a company – From residence permit to citizenship
After 5 years of holding a residence permit, a foreigner can apply for permanent residence (the so-called Stalni Boravak) by fulfilling a number of conditions, including proof of knowledge of the local language (children under 14 years of age and adults over 65 years of age are not required to provide a certificate confirming knowledge of the local language language when applying for permanent residence). Permanent residence is issued for a five-year period, then for another five years, and so on.
Upon receipt of this document, the successful candidate is entitled to all the rights enjoyed by native Montenegrins, except the right to vote in elections. After living in Montenegro for ten years, a foreigner can apply for Montenegrin citizenship (so-called Državljanstvo).
In this context, it is important to note that the country does not prohibit multiple citizenship, so Russians, Ukrainians or Belarusians can retain the passports of their home countries by obtaining Montenegrin citizenship by naturalization or other means.
A foreigner can obtain Montenegrin citizenship by naturalization in accordance with the interests of Montenegro if he meets the following conditions:
1) Has reached the age of 18;
2) Been in Montenegro legally and without interruption for the majority of each year for the 10 years prior to applying for Montenegrin citizenship;
3) Has a guaranteed place of residence (own or rented housing in Montenegro) and a guaranteed permanent source of income in Montenegro in an amount that ensures material and social well-being;
4) has not been unconditionally sentenced in Montenegro or another state to imprisonment for a term of more than one year and for a criminal offense;
5) Speaks the Montenegrin language at a level that provides the possibility of basic communication;
6) Does not pose a threat to the national security and defense of Montenegro;
7) Has no debts to the tax authorities.
The residency requirement can be reduced. If a foreigner or foreigner has been married to a Montenegrin citizen or a Montenegrin citizen, respectively, for at least 3 years, while holding Montenegrin permanent residence, he or she can apply for Montenegrin citizenship.
Residence permit in Montenegro when buying real estate or opening a company – What does a residence permit give?
The geographical location of the country is very favorable: it borders the EU (Croatia), and is also located in the center of the Balkan Peninsula, which opens up wide opportunities for creating and expanding international business.
An investor can very easily arrange for his entire family to move to Montenegro by opening a company in the country and/or buying real estate there. A renewable residence permit in Montenegro gives the right to live in this country, enjoy low tax rates compared to the EU/Russia and access the Balkan country's healthcare services.
The cost of 1 m2 of housing in Montenegro is relatively low compared to EU countries and other European countries. Having received a residence permit in Montenegro, a foreign citizen has the opportunity to register vehicles within the country, and his children can be admitted to state kindergartens and schools.
Having received a residence permit in Montenegro, a foreigner can apply for a visa to visit other countries using a Montenegrin resident card at the relevant foreign embassies and consulates in Montenegro. The validity of the visa depends on the validity of the temporary residence permit of Montenegro.
In this context, it is important to note that most embassies accept visa applications using the Montenegrin resident card after the resident has stayed in Montenegro for at least six months with the Privremeni Boravakf card in hand.
Possession of a Montenegrin resident card allows you to apply for Montenegrin citizenship by naturalization, the value of which in the future may increase significantly if Montenegro joins the EU. So this option is great for those people who have patience and want to get citizenship of an EU country after some time without huge investment.
Citizens of Montenegro can travel to all EU/Schengen countries without a visa. It should be borne in mind that in the coming years the EU may also waive visa requirements when traveling to any Schengen country for foreigners who have Montenegrin resident cards.