Montenegro | Fidulink Support | Company Formation LLC

2,099.00

The Basic package includes the following services:

  • Drafting of a bilingual Power of Attorney (Montenegrin and English);
  • Drafting of a bilingual Company Incorporation Decision or Agreement (Montenegrin and English);
  • Drafting of bilingual Articles of Association (Montenegrin and English);
  • Filling out a company registration form;
  • Filling out a VAT registration form;
  • Drafting a bilingual Decision of CEO appointment (Montenegrin and English);
  • Drafting a bilingual CEO appointment consent statement (Montenegrin and English);
  • Central Depository Agency of Montenegro extract tax fee for each founder;
  • Tax administration fee;
  • Official gazette of Montenegro fee;
  • Submitting the documents to the Central Registry for Company Registration;
  • Picking up the registration documents at the Central Registry for Company Registration;
  • Company stamp;
  • Drafting a bilingual Work Contract for CEO (Montenegrin and English);
  • Registering the CEO as an employee at the tax authority;
  • Digital signature certificate (needed for tax filing and invoice issuing);
  • Company bank account setup assistance (banks may charge opening fees [frais bancaires non inclus dans le package).

Compulsory additional fees:

Service Package: Company Maintenance – Accounting and Company Address [Additional costs not included in the package] Fees from €120.00 + VAT (21%) per month [Depend employees, turnover…]
Offer for this package includes the following:
  • Company registration address;
  • Receiving and sorting official company mail;
  • Drafting a bilingual accounting services contract (Montenegrin and English);
  • Accounting services;
  • Monthly tax filing;
  • Yearly tax filing, including the final yearly balance sheet and profit tax preparation;
  • Basic tax advisory.
Category:
Description

Company Registration

  • Company Registration Forms LLC
  • Number of Owners of an LLC 1 – 25
  • Minimal Founding Capital for an LLC €1.00
  • Complete Foreign Ownership Yes
  • Corporate Ownership of an LLC Yes
  • Mixed Ownership – Corporation and a Person Yes
  • Licensing Only in special cases, like banking, insurance,health services, tourism

Remote Registration Yes
Time to Register an LLC Up to 10-12 days

Documents for company registration

– Passport of each founder (or company registration certificate if one of the founders is a
company);
– Power of Attorney for Like a Bird Consulting.

Basic LLC Requirements

Every LLC has to have the following:
– A CEO (the CEO can be the only employee; if the CEO is a foreigner, a residence/work permit
is mandatory);
– A stamp;
– Registered address (no physical office needed);
– A bank account in a Montenegrin bank;
– An accountant;
– Digital signature certificate issued in Montenegro;
– Fiscal invoice issuing software;
– Monthly and yearly tax filing (even if there is no turnover).

Minimal Monthly LLC Costs [Approx.]

Even if the registered company doesn’t have any turnover, it will have certain monthly costs:
One minimal net salary (for the CEO) €450.00 (if the founder is the CEO, he/she pays this to him/herself)

One minimal salary taxes and social contributions €117.00
Bank account and e-banking fees €10.00-20.00
Company bank card (if needed) fees €10.00
Accounting From €149.00
Total actual monthly cost €296
Total actual yearly cost €3552

The costs indicated are minimal – one employee, up to 10 invoices per month. If the number of employees and the turnover is larger, the salary taxes and contributions and accounting costs may increase.

Taxes overview

  • Corporate profit tax – up to €100,000 in profit 9%
  • Corporate profit tax – €100,001-1,500,000 9-12%
  • Corporate profit tax – €1,500,000 or more 12-15%
  • VAT* 21%
  • Personal income tax 11-15%
  • Dividend and capital gains tax* 15%
  • Real estate transfer tax* 3%

– VAT is not applicable for exporting goods or services (basically for invoicing to companies outside of Montenegro);
– Dividend tax is paid only on the money that is actually withdrawn from the company. If you don’t withdraw the company profit, you don’t pay the dividend tax;
– Tax Treaties and Tax Residence: Montenegro has double-tax treaties with many countries. This
means that once a person establishes tax residency in Montenegro (spending 183 days in the country), they are eligible for personal income and dividend taxes only in Montenegro;
– Real estate transfer tax is not paid when an apartment is sold for the first time (new buildings).

Residence Permit

– Residence permit may be obtained through employment, real estate ownership or family unification.
– Simply owning a company does not provide an opportunity to apply for residence. Only employment does. So technically, a company owner obtains residence when he employs himself, usually as a CEO.
– If the CEO of a company is a foreign citizen, he must obtain a residence permit in order for the company to be fully legal. The company can have only one CEO.
– Every foreign employee must obtain residence permit also.
– Every residence permit is awarded for 1 year, after which it has to be extended.
– If a person obtains a residence permit as a CEO, he can leave Montenegro whenever he wants and doesn’t have to spend time in the country.
– All other residence permit holders, regardless of the way for obtaining the residence permit must spend 11 months in Montenegro during the residence year. Additional absence of 2 months can be had, but only with notifying the police in advance about the reason of absence.

Documents Needed for Residence Permit

– Police clearance from the native country;
– Valid passport;
– An apartment rent contract in Montenegro, notarized;
– A proof that a person will be employed in the company – employment offer;
– Education degree. CV Curriculum vitae

Residence Permit Based on Employment for the CEO/Owner

a) Document Listfrom the Client

– Passport copy;
– Notarized and Apostilled proof of non-conviction from the native country, not older than 6 monthsfor each person. If the document is not in English, the client needs to provide the English translation;
– Original or a Notarized and Apostilled education degree copy for each person. If the document is not in English, the client needs to provide the English translation;
– Rental agreement for an apartment or a house – place of residence in Montenegro.

b) Fidulink Service Offer Includes the Following

– One D Visa Invitation Letter(if the person is coming from a country that needs a visa for Montenegro);
– Degree translation by licensed court interpreter and notarization;
– Submitting the degree for nostrification;
– Degree nostrification fee;
– Degree nostrification pickup;
– Translation of the non-conviction proofs by licensed court interpreterfor each person;
– Medical exam fee for each person (probably no need for personal presence);
– Mandatory 30-day health insurance for each person;
– Accommodation proof – taking out the ownership document of the property owner from the cadaster;
– Company registration extract from the Central Registry for Company Registration;
– Company registration extract fee;
– Residence permit state fee for each person;
– Residence permit municipality fee for each person;
– Residence permit police fee for each person;
– Residence permit pickup.

c) Resident Permit Based on Employment Minimal Price: Fees €1699

Residence Permit Based on Family Reunification

a) Document List from the Client

– Passport copies of each family member;
– Notarized and Apostilled proof of non-conviction from the native country, not older than 6
monthsfor the spouse;
– Notarized and Apostilledmarriage certificate;
– Notarized and Apostilled birth certificate for each child.

b) Like a Bird Service Offer Includes the Following

– Registration of stay in Montenegro;
– Translation of the marriage certificate by licensed court interpreter and notarization;
– Translation of the birth certificates by licensed court interpreter and notarization;
– Translation of the non-conviction proofs by licensed court interpreter;
– Mandatory 30-day health insurance for each person;
– Accommodation proof – notarization of the property owner statement that you live there;
– Accommodation proof – taking out the ownership document of the property owner from the cadaster;
– Residence permit state fee for each person;
– Residence permit municipality fee for each person;
– Residence permit police fee for each person;
– Residence permit pickup.

Residence Permit Based on Property Ownership

a) Document List from the Client

– Passport copy;
– Notarized and Apostilled proof of non-conviction from the native country, not older than 6 months;
– Basic sustenance means – around €4,000.00 on a bank account.

b) Fidulink Service Offer Includes the Following

– Taking out a verified property ownership document from the Montenegrin cadaster;
– Translation of the non-conviction proof by a licensed court interpreter;
– Mandatory 30-day health insurance;
– Translation of the bank statement by a licensed court interpreter;
– Residence permit state fee;
– Residence permit municipality fee;
– Residence permit police fee;
– Residence permit pickup.

c) Resident Permit Based on Property Ownership Minimal Price: €1199

Residence Permit for Digital Nomads

a) Document List from the Client

– Passport copy;
– Notarized and Apostilled proof of non-conviction from the native country, not older than 6months;
– Work contract proving employment in a foreign company showing the client work remotely online;
– Bank account statement for the last three months showing minimal monthly salary of €1,350.00;
– Verified company excerpt from the company registry in the country in which the employer is registered;
– Rental agreement for an apartment or a house – place of residence in Montenegro.

b) Fidulink Service Offer Includes the Following

– Translation of the non-conviction proof to Montenegrin by licensed court interpreter;
– Mandatory 30-day health insurance for two persons;
– Accommodation proof – taking out the ownership document of the property owner from the cadaster;
– Translation of the work agreement to Montenegrin by a licensed court interpreter – up to 3 pages (additional pages are charged additionally);
– Translation of the company excerpt of the employer to Montenegrin by a licensed court interpreter;
– Translation of the bank statements to Montenegrin by a licensed court interpreter (priced per page);
– Residence permit state fee;
– Residence permit municipality fee;
– Residence permit police fee;
– Residence permit pickup.

c) Resident Permit for Digital Nomads Minimal Price: €1199

Bank Account

Montenegrin banks offer personal and company accounts for domestic and international transaction.
Depending on the company activity and the country of the client, the bank may require additional documents for the account opening.
The client will have to be present for the bank account opening, as the Central Bank instruction prohibits banks from opening accounts via POA. Of course, we assist and go with you.

VISA D

– If a client is coming from a country that needs a visa for Montenegro, please note that in order toapply for a residence permit, he will need to enter Montenegro with a D Visa, and consider the visa
application in the plans.

Timeline

– The company can be registered remotely (the client doesn’t need to come to Montenegro for that),but he must be here to apply for the residence permit personally because of the biometrics.

  • Company Registration (remote) Up to 10 -12 days
  • D Visa (if needed) 3-6 weeks
  • Residence Permit 2-3 weeks
  • Bank Account Up to 2 weeks

Service Package: Company Maintenance – Accounting and Company Address [Additional costs not included in the package]

Offer for this package includes the following:
  • Company registration address;
  • Receiving and sorting official company mail;
  • Drafting a bilingual accounting services contract (Montenegrin and English);
  • Accounting services;
  • Monthly tax filing;
  • Yearly tax filing, including the final yearly balance sheet and profit tax preparation;
  • Basic tax advisory.

Minimal Price for company maintenance service package: from €120.00 + VAT (21%) per month (the price depends on the monthly turnover and number of employees, so if the workload grows, the price may increase over time).
Payment terms: monthly or quarterly, in advance for the upcoming month/quarter(first month is paid upon registering the CEO as an employee in the tax authority).
Payment options: bank transfer

Additional Services

7.1. Property scouting and due diligence;
7.2. Tax advisory and tax residence preparation;
7.3. HR services;
7.4. Nominal company CEO;
7.5. Setting up remote call, dispatch, support and IT centers;
7.5. Employee health insurance;
7.6. Montenegro investment advisory.

Payment terms

Payment terms for the company registration and residence permit services:
a) 100% of the total fee on order;

– Payment Options: bank transfer,

 

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