Business Climate in Montenegro
Montenegro is one of the youngest, smallest and least populated countries in Europe. Montenegro is a country in southeast Europe with a population of 650.000 citizens living on an area of 14,000 square kilometers. The country’s capital is the city of Podgorica in which around 200.000 inhabitants reside.
Montenegro is divided into 24 municipalities and 13 cities. Municipalities usually have more than 10,000 inhabitants.
The national currency is the EURO.
Some basic economic stats include:
- Inflation rate in 2018: 2.61%
- Direct investments in 2018:
- The growth rate of the Gross Domestic Product (GDP): 3.0%
Index of Economic Freedom Rank: 91
The distinguished Index of Economic Freedom, an annual guide published by The Heritage Foundation, gives Montenegro economic freedom score of 61,5. This gives the country an overall worldwide rank of 91and puts Montenegro 42nd among 45 countries in the European region. The overall score is approximately equal to the regional average and well above the world average.
World Bank, Doing Business Rank: 50
The World Bank, Doing Business Report ranks Montenegro in 50th place for doing business on the world ranking. The country is given a score of 73,8 and a ranking of 101 for starting a business in 2020.
Basel Institute, AML Index Rank: 115
The Basel Institute of Governance ranks Montenegro on 115 rankings position. Please note that the highest-ranking position shows that the country is having a higher risk of money laundering and terrorist financing.
Do you think Montenegro is a good place for your business?
If yes, we will help you establish your business in Montenegro. All you need to do is to follow these steps:
Step 1: You send us an email
I want to open a company in Montenegro.
Refer me to someone that will get the job done, fast and professionally.
Step 2: We get back to you with a referral
We will contact you immediately with a couple of options and what price to expect. This way you won’t get overcharged. Also, we will provide you with a special code for which you will get a discount. This code will also let our referral know that if he/she is not acting as they presented us, they will lose a major leading source.
Step 3: You contact the referral
When asking details about the fees, timeline and other aspects for the professional engagement, it is very important to present our referral with the code we give you. We also strongly suggest cc’ing’ our email as we can follow if our referral is professional as he/she promised to be.
Step 4: You let us know how it went
This is the only thing we ask. By giving us a review of how our referral worked for you, we will be able to know if we should give them more business, or take them from our list. They know that if they get bad reviews from our clients, they won’t get new clients from us. This is how we make sure that they do what they told us they will.