Montenegro has 300 km of coastline and beautiful mountains located in the north side of the country. These attract numerous visitors from all over the world every year, the tourism industry accounting for 20% of the GDP (Gross Domestic Product). The tourism in Montenegro is concentrated on resorts and hotels along the coast. The country is also developing a wider tourism industry which relies on rural and cultural tourism, as well as ecotourism.
In this article, our company formation agents in Montenegro explain how to set up a travel agency in Montenegro.
When opening a travel agency in Montenegro, investors must first decide which type of business structure they want to set up.
The most common kind of business vehicle in this jurisdiction is the limited liability company (D.O.O.). In order to open such a company in Montenegro, the following documents have to be obtained:
Investments in tourism can also be made under the Montenegro citizenship by investment scheme.
Montenegro is a very attractive tourism destination. In the last years, the statistics related to the number of travelers who visited Montenegro are as follows:
Year | Total tourist visits | Local | Foreign |
2015 | 1,713,109 | 153,185 | 1,559,924 |
2016 | 1,813,817 | 151,696 | 1,662,121 |
2017 | 2,000,009 | 122,797 | 1,877,212 |
According to the Tourism Law, in Montenegro, travel agency activities can be effectuated only by companies which are listed in the Central Registry of Business Court.
Businesses which are listed in this court must be registered as travel agencies and they must have a license which is issued by the Ministry in charge of tourism here.
Our Montenegro company formation consultants can offer further information on this license and the methods through which it can be issued.
If you require further information on the travel industry in Montenegro, or for help to open a Montenegro business, please contact our friendly staff.