Abstract During the first three months of 2023, favourable trends were recorded on the labour market. Earnings recorded a growth of slightly more than 10% in comparison with the same period in 2022. This growth was mostly influenced by decisions on salary increases in the public sector during the previous and current year. The growth...
Montenegro citizenship by investment is a program that allows people to obtain citizenship in the country with a significant financial investment in the country. This can include investing in real estate, making a financial contribution to the government, or investing in a business. The investment amounts can vary but typically involve a substantial financial commitment....
Abstract In March, Montenegro borrowed EUR 100 million from Deutsche Bank. Compared to previous borrowings, this borrowing is significantly less favourable, taking into account the very high variable interest rate that is linked to Euribor. Considering the high uncertainty and expectations that the Euribor will increase in the coming period, this would also mean more...
Montenegro’s total labor force consists of approximately 250,000 people with almost 50,000 workers, or close to 20 percent of the labor pool, employed in the public sector. The unemployment rate was 24 percent as of December 2021, according to the country’s Unemployment Agency. As the result of the Europe Now reform program passed in December...
Montenegro regained its independence in 2006, and since then, the country has adopted an investment framework that in principle encourages growth, employment, and exports. Montenegro, however, is still in the process of establishing a liberal business climate that fosters foreign investment and local production. The country remains dependent on imports from neighboring countries despite its...
Montenegro’s Foreign Investment Law, which was adopted by the Parliament in 2011, establishes the framework for investment in Montenegro. The law eliminates previous investment restrictions, extends national treatment to foreign investors, allows for the transfer and repatriation of profits and dividends, provides guarantees against expropriation, and allows for customs duty waivers for equipment imported as...
The Central Register of the Commercial Court (CRPS) is responsible for business registration procedures ( www.crps.me ). The court maintains an electronic database of registered business entities, and contracts on financial leasing and pledges. The process to register a business in Montenegro takes an average of 4-5 working days. The minimum financial requirement for a...
Montenegro signed the Central European Free Trade Agreement (CEFTA) in July 2007. The agreement has been signed by seven other countries (Albania, North Macedonia, Moldova, UNMIK/Kosovo, Croatia, Serbia, and Bosnia and Herzegovina). A free trade agreement with Turkey has been in force since March 2010. Montenegro had a free trade agreement with Russia, but the...
The main law governing foreign investment, the Montenegrin Law on Foreign Investment, is based on the national treatment principle, which is a basic principle of GATT/WTO that prohibits discrimination between imported and domestically produced goods with respect to internal taxation or other government regulation. All proposed laws and regulations put forth by the government are...
The Ministry of Economic Development, in cooperation with the World Bank Group (WBG), has created an Investment Incentives Inventory, which provides a comprehensive list of available financial and non-financial support programs for the private sector as well as domestic and foreign investors offered by the Government of Montenegro. This initiative is part of the WBG-supported...
