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Set Up a Consulting Company in Montenegro

Set Up a Consulting Company in Montenegro

Opening a company in Montenegro is not complicated, even if you are a foreign entrepreneur. The first step you need to take is to select the business form and then register it with the Companies Registrar in this country. An important aspect to consider is the licenses you need to obtain for the company once it is incorporated.

There are many sectors which do not need to obtain specific approvals or licenses, and among these are consulting companies. In order to open a consulting company in Montenegro, however, you should consider having a qualification in the field you plan on working in.

Considering the consulting sector has evolved a lot in this country, we invite you to read the articles prepared by our Montenegro company formation specialists on how to set up a consulting firm.

What is the best business form for a Montenegro consulting company?

As mentioned earlier, it is very important to decide on the form your consulting company will take. As a foreign entrepreneur you can choose between any of the company types covered by the national legislation, however, companies here can be described as small, medium and large-sized enterprises.

Most of the times, consulting companies in Montenegro are set up as small and medium-sized businesses, which is why the sole proprietorship, the partnership, and the limited liability company are the most suited.

The sole proprietorship is a good option for a single businessman interested in offering specific services, while the partnership will allow you to have a local partner in your business.

The Montenegro limited liability company, on the other hand, allows for larger operations and it is usually preferred by foreigners because it also offers protection of the business owner’s personal assets.

If you want to set up a consulting company in Montenegro and need advice on the business form best suited to your activities, our local representatives can help you.

What to consider when setting up a consulting firm in Montenegro

The main law to abide by when starting any type of business in Montenegro is the Commercial Law which provides for the conditions related to registering a company in this country, including a consulting company. As a foreign investor, you will need to:

  • –          prepare the documents to be filed with the Trade Register in accordance with the selected business form;
  • –          find a suitable legal address for the company, open the company’s bank account and deposit the share capital;
  • –          register the company for taxation and for VAT purposes with the tax authorities in Montenegro;
  • –          register with specific associations or professional organizations, depending on the activities to complete.

You can rely on our company registration advisors in Montenegro for the preparation of the documents needed when incorporating a consulting business in this country.

Types of consulting companies in Montenegro

If you want to open a consulting company in Montenegro, there are various industries you can operate in. Among these, we mention:

  • –          financial advisory and accounting consulting services are quite sought in Montenegro;
  • –          marketing with its online marketing branch have started being very popular in this country;
  • –          advertising is another sector which has increased in the last few years in Montenegro;
  • –          business consulting services are also among the most sought in this country;
  • –          information technology-related consulting services are also sought in Montenegro.

You can also choose to activate in other fields, as Montenegro is one of the most open countries when it comes to offering consulting services, especially in emerging industries such as financial technology and IT.

It is important to consider enrolling with professional associations and organizations in Montenegro when opening a consulting company. It is also possible to complete specialized courses in the field you want to operate in. Another aspect to consider is promoting the consulting company in Montenegro.

Why start a consulting business in Montenegro?

Montenegro is currently preparing for entering the European Union which is expected to attract greater numbers of foreign investorsStarting a consulting company which offers services to investors interested in coming to Montenegro can be a good business opportunity to those with specific skills.

Starting a consulting company in Montenegro is also simple and easy and foreign entrepreneurs benefit from many tax advantages if they decide to operate here.

If you want to set up a consulting company in this country and need assistance with the incorporation procedure, please contact our company formation experts in Montenegro