Licensing
EID Accounting applies and attains the required documents and licenses for your firm if your business activity or a professional service requires a specialized license within Montenegro.
Required Business/Trade License
You need a license in Montenegro if you are doing business in certain industries that are regulated by law. You will then, either need to obtain a license at the municipal or state level of administration. This business license (or Trade License) is a certificate that allows you to trade and offer a business activity for which it was issued. It does not give permission to do business in another field of the economy.
Through a business permit or license, a Montenegrin company indicates and proves it’s ability to meet local standards of workplace safety, hygiene, and manufacturing quality as per the laws of Montenegro. For example, businesses such as grocery stores, restaurants or cafes that involve the preparation and handling of food may require health permits. A federal license or permit may be required if your business is involved in an activity which is regulated by a ministry. Other examples include the sale or manufacturing of alcohol, commercial fishing, transportation and logistics, energy production and others.
Why Montenegro?
For seven consecutive years, Montenegro has topped the World Bank’s list of the best countries to conduct business in. Montenegro’s business-friendly and easy-to-follow regulations are one of the many reasons for this ranking. Additionally, compliance rules for Montenegro based companies are generally straightforward, logical and devoid of unnecessary bureaucracy – especially for small to mid-size companies, it’s almost seamless.
However, if you do not follow even these simple regulations, your company could face hefty fines or get into legal trouble with the authorities (in serious cases, even prosecution). That is why it’s important to understand and follow the requirements related to tax, employees, data protection and licensing that every company in Montenegro is expected to comply with.
Copyright © 2022. All Rights Reserved