When incorporating, you must look at the law in the country, in Montenegro is civil law law. You will want to get some local advice as to how to best structure a company in Montenegro. Electronic signatures are permitted.
The country code ME is for Montenegro and the most common company type in Montenegro is a LLC.
It typically takes about 11 weeks to put together the paperwork and file a LLC in ME. The types of cash you can use to setup your company is often EUR and any legal currency.
Yes, one is allowed to re-domicile a LLC from ME. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a LLC in ME by yourself. Corporate Shareholders are are never used. Foreign ownership is encouraged, up to 100% of the total shareholding.
A LLC is only required to have one director. Speaking of shareholders, corporate directors are not permitted. Directors are disclosed publicly. There is a requirement to have annual meetings of shareholders.
A registered office is a requirement, whom the company will pay yearly, for a professional firm which can receive any lawsuit papers on behalf of the registered legal entity. Furthermore, a company secretary is a requirement.
There is a legal obligation to file accounts on a yearly basis. Furthermore, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are in effect. A company is thinly capitalised when there is a greater proportion of debt than equity. The minimum capitalization for a Montenegro Civil Law is 1.
A corporate director is not permitted, meaning this country is not a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Montenegro, Chamber of Economy Montenegro. Shareholders are disclosed in the Chamber of Economy Montenegro.
Typically companies take 11 weeks to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Montenegro is a good option and have given it a score of 71 as an IO score, using the Incorporations.IO proprietary formula.
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