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...
In 2004, Montenegro adopted the Law on Free Zones, which offers businesses benefits and exemptions from custom duties, taxes, and other duties in specified free trade zones. The Port of Bar is currently the only free trade zone in Montenegro. All free zone users have many benefits provided by the law and other regulations (import...
In 2002 Montenegro enacted the Law on Secured Transactions and established a collateral registry at the Commercial Court in 2003. The registry’s operational guidelines have been drafted and approved by the Commercial Court. The main goal of the Law on Secured Transactions is to establish a clear and transparent framework for property transactions. In 2004,...
The acquisition and disposition of IPR are protected by the Law on the Enforcement of Intellectual Property Rights, which entered into force in 2006. The law provides for fines for legal entities of up to EUR 30,000 (approximately USD 37,000) for selling pirated and/or counterfeited goods. It also provides ex-officio authority for market inspectors in...
The banking sector in Montenegro is fully privatized with 11 privately owned banks operating in the country. The banking sector operates under market terms. Foreign investors can get credit on the local market, and they have access to a variety of credit instruments since the majority of the banks in Montenegro belong to international banking...
According to Central Bank of Montenegro, the banking sector remained solvent and liquid. Total bank assets amounted to EUR 5.33 billion at the end of 2021, an increase of EUR 741.6 million or 16.2 percent over the previous year. Loans make up the dominate share of bank balance sheets, amounting to EUR 3.36 billion at...
During 2022, a constant increase in prices was observed. During the first eleven months of 2022, the average inflation rate was 12.7%. However, in November the inflation rate was at the level of 17.5%, which is the highest annual price growth rate compared to the previous months. The biggest increase in prices was recorded for...
