With very easy and cheap company incorporation process, low corporate tax rate and relaxed laws on foreign ownership, Montenegro is a very popular investment destination. Opening a restaurant in Montenegro can be a very successful idea since it operates year-round and considerable amounts of money are spent on food by locals and tourists alike.
If you are interested in opening a restaurant and turning it into a successful business, you can get professional advice from our company formation specialists in Montenegro.
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What to consider when opening a restaurant in Montenegro?
Mediterranean cuisine, seafood and traditional meat dishes are available choices for those interested in opening a restaurant in Montenegro. Here is a list of things to consider before investing in this type of business:
• Location – city centers and beach areas attract most of the tourists and locals. You can either buy a property in Montenegro or rent a location for your restaurant;
• Size of the restaurant – initial investment, maintenance costs and hiring employees depend on the size of the business;
• Personnel – you will need qualified chefs and waiters;
• Licenses – since you will be handling food and drinks, you will need to obtain several licenses from the authorized institutions in Montenegro. Only companies listed in the Central Registry of Business Court can apply for a food license with the Ministry of Tourism. It establishes the standards for foods, drinks and beverages served in a Montenegrin restaurant.
Our company registration agents in Montenegro can assist you with opening a restaurant and obtaining all necessary licenses from the local authorities.
The procedure for opening a restaurant in Montenegro
Certain steps must be completed in order to start a restaurant in Montenegro. First of all, you have to choose the type of business to incorporate – sole proprietorships, limited liability companies or general partnerships are options to consider. Then you have to certify the company`s founding agreements with a court or notary in Montenegro. Registering your company and obtaining the VAT tax identification number is the next step to fulfill. Opening a bank account, registering with the tax authorities and notifying the competent authorities and the municipal authorities in charge of economic affairs are the final procedures for opening a restaurant in Montenegro.
For specialized assistance in establishing a restaurant or any other type of business in this country, please contact our Montenegro company formation experts.