Yugoslav Geography ans Culture

A former Yugoslav republic, Montenegro was initially a part of Serbia after the breakup of Yugoslavia and only recently became a sovereign state in 2006. Montenegro means “Black Mountain” and borders Croatia, Bosnia, Serbia, Kosovo, and Albania. A lot of its territory is covered in thick forest, has an Adriatic coastline, lowlands, and high mountain ranges. The Tara River canyon is the deepest and longest in Europe.

Montenegro is a multiethnic state in which no ethnic group forms a majority, including Montenegrins, Serbs, Bosniaks, and Albanians amongst its population. The official language is Montenegrin, although Serbian, Bosnian, Albanian, and Croatian are also recognized. Most of the population are members of the Serbian Orthodox church.

2021
May 1Labour Day/May Day
May 2Labour Day/May Day Holiday
May 3Labour Day/May Day Holiday observed
May 21Independence Day
May 22Independence Day Holiday
July 13Statehood Day
July 14Statehood Day Holiday
  • Preduzetnik (Preduzetnik)
  • O.D. (Ortačko Društvo)
  • K.D. (Komanditno Društvo)
  • A.D. (Akcionarsko Društvo)
  • D.O.O. (Društvo sa Ograničenom Odgovornošću)
  • Dio stranog društva (Dio stranog društva)
  • Corporate Tax: 9%
  • Income Tax (Lowest Marginal Rate): 9%
  • Income Tax (Highest Marginal Rate): 12.65% (11% national tax + 15% municipality surtax on income tax)
  • VAT/GST/Sales Tax: 21%, 7% (essential goods – basic foodstufs, water, pharmaceuticals, books, tourism services, etc.), 0% (postal services, education, social security services, healthcare, insurance, etc.)
  • AtlasMont Banka
  • Crnogorska komercijalna banka – OTP Bank group
  • Hipotekarna banka
  • Addiko Bank
  • Komercijalna banka Budva
  • Invest Banka Montenegro (formerly Pljevaljska banka)
  • NLB Montenegrobanka – Nova ljubljanska banka group
  • Prva banka Crne Gore (First Bank of Montenegro, formerly Nikšićka banka)
  • Podgorička banka – Société Générale group
  • Erste Bank AD Podgorica (before July 24, 2009 Opportunity Bank)
  • Lovćen banka AD
  • Zapad banka AD
  • ZIRAAT Bank Montenegro
  • Universal Capital Bank AD Podgorica
  • Adriatic Bank (formerly Nova banka)

Aadmi can support you with your expansion to Montenegro. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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