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Balkan jurisdiction with 9% flat corporate tax
Region
EASTERN EUROPE
Corporate Tax
9%
Setup Time
2 weeks
Currency
EUR
Montenegro, a small Balkan nation on the Adriatic coast, combines natural beauty with competitive costs and EU membership aspirations. The country's improving company registration framework supports business setup for those seeking regional presence.
With a population of 620,000, Montenegro offers compact living from coastal Bay of Kotor to mountain hinterland. Montenegrin (Serbian-based) is official, with English growing among younger people.
Healthcare is basic, with complex cases often requiring travel to Serbia or beyond. Safety is generally good. The cost of living is low for Mediterranean Europe.
The stunning coastline and emerging tourism infrastructure attract visitors and investors.
Corporate tax rate stands at 9%, among Europe's lowest. Personal income tax is flat at 9-15% depending on income type. VAT applies at 21%. The low tax burden attracts business interest.
Montenegro unilaterally uses the Euro despite not being EU member. EU accession negotiations are ongoing. Tourism drives significant economic activity.
Company registration through the Central Register of Business Entities is straightforward. The d.o.o. (limited liability company) is the standard vehicle. Foreign ownership faces no restrictions.
Company formation takes approximately 1-2 weeks. Minimum capital is EUR 1. Annual compliance includes financial statement filing.
Montenegro has not established comprehensive crypto license frameworks. Digital asset businesses operate in evolving regulatory environment. The small market limits dedicated regulatory development.
The Games of Chance Administration regulates gambling. Online gambling licensing exists. Montenegro has attracted some gaming interest, particularly for regional operations.
The small market limits domestic opportunities. EU accession timing remains uncertain. Infrastructure is developing but may lag established markets.
Banking access is available through Montenegrin and regional banks. Professional services are developing.
Montenegro suits tourism-related businesses, cost-conscious regional operations, and those attracted to low taxation for their business setup.
Local: d.o.o.
Local: a.d.
Local: Branch
| Corporate Tax Rate | 9% |
| Personal Income Tax Rate | 15% |
| VAT / Sales Tax | 21% |
| Capital Gains Tax | 9% |
| Withholding Tax | 15% |
| Reduced Corporate Tax Available | Yes |
| Non-Resident Withholding Exempt | No |
| Tax Treaty Network | Yes |
| Banking Access | MEDIUM |
| Financial Privacy | MEDIUM |
| Currency Controls | NONE |
| Local Bank Account Required | Yes |
| Non-Resident Bank Account Allowed | No |
| Physical Presence for Banking | Yes |
| Banks Restrictive (High Risk) | No |
| AML Officer Required | No |
| MLRO Required | No |
| Compliance Officer Required | No |
| Data Protection Officer Required | No |
| Bookkeeping Frequency | Annual |
| Local Bookkeeping Required | Yes |
| Mandatory Audit | No |
| License Required | Yes |
| Local Director Required | No |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | No |
| Required Share Capital | $0 |
| Capital Maintained in Account | No |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF recommendations apply, KYC required for transactions over €1,000 |
| Business Plan Required | Basic description of planned services required |
| Personnel Required | No specific personnel requirements for registration |
| Insurance Required | No |
| Remote Incorporation Possible | Yes |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | Capital Market Commission maintains public register of crypto-asset service providers |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | No |
| Compliance Audit Mandatory | No |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | Capital Market Commission (Komisija za tržište kapitala) |
| Licensing Fee | $0 |
| Licensing Fee Details | Registration-based system introduced February 2025 - no license fee, only standard company registration fees apply |
| Permitted Business Models | Exchange, Custody, Wallet services, Payment processing |
| Permitted Activities | Crypto-to-fiat exchange, Crypto-to-crypto exchange, Custody services, Transfer services |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | No |
| Derivatives Allowed | No |
| RWA Tokenization Allowed | No |
| App Store Listing Allowed | Yes |
| Crypto Custody Allowed | Yes |
| License Required | Yes |
| Local Director Required | No |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $300,000 |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | N/A for gambling |
| Business Plan Required | Detailed business plan with financial projections required |
| Personnel Required | Key personnel must pass fit and proper test, background checks required |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | Games of Chance Administration maintains public records |
| Renewal Period | Casino: 10 years, Sports betting/Slots: 3 years |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | Yes |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | No |
| Regulators | Games of Chance Administration (Uprava za igre na sreću), Ministry of Finance |
| Licensing Fee | $100,000 |
| Licensing Fee Details | Casino: €100,000 annual fixed fee + €100,000 annual contribution. Sports betting: €750/month per shop + €1,000 one-off per shop. Slots: €75/month per venue + €3,000 one-off per venue. Online: 10% GGR tax |
| Permitted Business Models | B2C casino, B2C sports betting, B2C slots, Online gambling (requires land-based license first) |
| Permitted Activities | Casino games, Sports betting, Slot machines, Online casino, Online sports betting, Lotteries (state monopoly) |
| Restricted Activities | Lottery games restricted to state-owned company only. Advertising banned 6am-10pm on TV/radio. Online gambling requires prior land-based license |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | Yes |
| Player Fund Segregation | Yes |
| B2B/B2C Separate Requirements | No |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $125,000 |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF compliant - aligning with EU standards |
| Business Plan Required | 3-year business plan with financial projections, risk assessment, and operational procedures |
| Personnel Required | Qualified management, compliance officer, AML officer, adequate staff with relevant experience |
| Insurance Required | Yes |
| Insurance Details | Professional indemnity insurance required for payment institutions |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 2 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | Central Bank of Montenegro publishes list of licensed institutions |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | Central Bank of Montenegro (Centralna Banka Crne Gore - CBCG) |
| Licensing Fee | $5,000 |
| Licensing Fee Details | Application fee varies by license type. Payment institution license involves application review fees plus ongoing supervisory fees. Exact amounts set by CBCG tariff schedule. |
| Permitted Business Models | Payment Institution, Electronic Money Institution, Bureau de Change |
| Permitted Activities | Payment services, Money transfers, Payment processing, Currency exchange, E-money issuance (EMI) |
| Restricted Activities | Banking services without banking license. Credit activities require separate authorization. Investment services require Capital Market Commission license |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | Yes |