Office MONTENEGROINVEST IN
MONTENEGRO
Day by day, Montenegro is becoming an increasingly attractive place to invest in Europe. As a tourist destination, it is becoming more and more recognized, what is confirmed by the number of guests which is drastically increasing year after year. The real estate market is therefore very interesting. Foreign investors mostly rely on an investment repayment period which is shorter than in other markets.
Tourism is the main economic activity in Montenegro. Percentage-wise, it is recording continuous growth year after year, and predictions are that Montenegro will be one of the fastest growing tourist destinations. The airports in Tivat and Podgorica are the only two airports in Montenegro. Good connection of its airports makes it an even better destination for investment. For orientation purposes, Montenegro is a two-hour flight away from London or an hour and a half from Milan or Istanbul.
The official currency in Montenegro is EURO.
From the perspective of inflation and other aspects that may affect the strength of the currency, Montenegro is an absolutely safe and secure financial destination.
Taxes in Montenegro are amongst the lowest in Europe. Tax on corporate profit amounts to 9% while VAT is set at 21%. For the sake of comparison, the corporate profit tax in Italy is 33%, Croatia 20%, Slovenia 19%, Austria 25%. More and more world-renowned companies are establishing their representative offices in Montenegro for the simple reason of lower tax rates and capital security.
When we compare other destinations with the tax regime in Montenegro, our country has an absolute advantage and definitely offers better financial aspects than any other country in the area. You can take the advantage in terms of taxes offered by Montenegro completely legally and legitimately, while fulfilling all legal requirements, without any fear that your capital would be threatened in any way.
Montenegro is also recognized as a favourable destination for the IT sector. This is a fast-growing industry all over the world, and Montenegro is trying to catch up with the world market. With regard to taxes, Montenegro has a very stimulating view of this branch of the economy and most of the programming jobs performed for foreign clients are not subject to VAT. A very important fact regarding this industry is that you can employ highly educated staff for much less money and thus additionally reduce the costs, instead of reducing them at the expense of the quality of the work done. The minimum wage stipulated by law is €450.00.
– A comprehensive overview of the investment aspects in Montenegro is more than positive
– Political, monetary, macroeconomic stability
– Simplicity in terms of procedures
– International accounting standards
– Growth of economic freedoms
– Geographic location and climatic conditions
These are just some of the aspects that make foreign investors willing to come to Montenegro, and the reason why they should invest in this country.
Interesting facts about Montenegro:
– The Tara River canyon is the deepest canyon in Europe, and the second deepest in the world after the Grand Canyon;
– Montenegro has the highest railway bridge in Europe
– The Cathedral of St. Tripun in Kotor is one of the oldest churches in Europe
– Lake Skadar is the largest lake in the Balkans
– Montenegro has the longest beach on the Adriatic – “Velika Plaza” (“Long Beach”) in Ulcinj
– The oldest tree in the world is the olive tree located in the city of Bar
– Montenegro is among the top countries in the world regarding the usage of mobile phones – on average, each resident has two mobile phones.
