The tourism industry in Montenegro is accounted for 25% contribution to the GDP and 23% of total employment. Businessmen who want to open a hotel in Montenegro need to be aware of the fact that tourism is an attractive destination for foreign investments. With the fastest growing tourist market in the world, the hotel industry in Montenegro attracts one third of all capital investment in the country. Our experts in company formation in Montenegro can give you extensive information on the matter.
Table of Contents
Steps in opening a hotel in Montenegro
The investment spending in the tourism industry is oriented towards the construction of new hotels and the improvement of tourism related activities: catering and cleaning services for hotels. If you want to start a business in the accommodation sector and open a hotel in Montenegro, there are several steps to take into consideration. These are the following:
• Certify the company`s articles of association – according to the Company Act in Montenegro, foreign investors have no restrictions in establishing any type of company suits their interests. The company`s documents need to be certified at a basic court and the copies of these documents must be submitted with the municipalities;
• Obtain the registration certificate, the tax identification number and VAT number – the Central Registry of Business Entities of the Tax Administration is the authority where you submit the registration application. The articles of association, the statute of the company and a registration form are the necessary documents for company registration in Montenegro;
• Obtain the company seal and open a bank account;
• Register with the tax authority – you have to fill in a single registration form to register the company and its employees with the Tax Administration. An automatic registration is done with the Employment Bureau, the pension fund and the health fund;
• Notify the inspection authority and the municipal authority in charge of the economic affairs.
Our experts in Montenegro company formation matters can assist you throughout the entire process of opening a hotel in this country.
You can invest in such large projects thorugh the Montenegro citizenship by investment program.
Hotel regulations in Montenegro
According to the Tourism Law in Montenegro, specific rules and regulation apply to the hotel industry, in order to promote high standard services. If you want to open a hotel in Montenegro, you have to obtain a license from the Ministry of Tourism with regard to the fulfillment of technical conditions around the premises, appropriate equipment, safe working conditions and other conditions.
The hotel industry also includes other facilities that provide food and drinks, restaurants and bars. This law also defines the accommodation facilities available in Montenegro: hostel, hotel complex, tourist apartments, apartment complex, motels, bed and breakfast, villa, residence and camps.
If you want to start a business in the accommodation industry, don`t hesitate to contact our company registration agents in Montenegro for a personalized offer.