residence/retirement visa/business start up
Can someone give me an updated and realistic cost of getting a long term or residence visa in Montenegro as a US citizen ? Starting a business is what we have in mind so that is no problem.
The cost of opening and maintaining that business is my concern if someone can give me actual cost ?
I have read that the cost to open a business is 300 EU to 400 EU and to maintain it 60 EU to 200 EU a month.......Is that correct ? 200 EU per month to maintain a small new business is very high especially first year or two .
Would love to hear from someone that knows the real updated cost for 2021.
Appreciate anybody that can help me get things straight,
Thank you very much
Hi Karmsun
I have read that the cost to open a business is 300 EU to 400 EU and to maintain it 60 EU to 200 EU a month.......Is that correct ?
Updated costs (not including VAT + 21%)
- Company incorporation c. 500,- euro + admin fees
- Work + residence permit c. 400,- euro/person + admin fees.
- Accounting fee starts from 1.800,- euro/year.
200 EU per month to maintain a small new business is very high especially first year or two .
- You do need to pay one Director of company at the minimum legal which is c. 250€/month (not a cost since you pay yourself and get that money back) + c. 125€/month of social contributions.
Therefore, the minimum monthly amount is 125€ social contributions + 150€ + VAT for the accountant, so c. 275€/month. You might find some accountants offering about 100€/month if you have minimal activity / invoicing etc.
Hope that helps,
Carine
Thank you very much Carine; very helpful.
Will they let you wait to open the business until you have found a suitable location and done the research needed to open any new business in a new location ? Was hoping to spend a few months going to a few different places doing some research??????
Will they let you attend classes to learn the language ? Some countries have a student visa that lets you register to take language classes to learn their language.
Thanks again, hope I can bother you again if more questions arise ?
Hi there,
Most foreigners can stay up to 90 days (every 180 days) on a tourist Visa, so you have that much time to stay without a residence permit.
Not sure about the language. I'll see if I can find some info.
Yes, that is true; 90 days is is not a lot of time but hopefully enough to at least nail down the city or area to focus on.
Thanks again for your help,
I really do appreciate it
Hi, do you need to have an accountant to run the business? Or it's mandatory in ME if you run a business?
Hi Jarek,
company must appoint qualified accountant in Montenegro.
@N.rishi no sure you can do remote, it is such a mess here, you need to go to notary to open a company, to tax autorities and to bank, banks don't open with POA
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