Summary of Business and Residency in Montenegro: Low Taxes, No Physical Presence Required (Personal Experience)
In this YouTube video, Herman Kman discusses the benefits of establishing Residency and setting up a business in Montenegro, highlighting its favorable tax environment and the ease of Company Registration.
Main Financial Strategies and Market Analyses:
- Residency through Company Registration: To obtain Residency in Montenegro, one must establish a company, which can be done online within 8 to 10 days without a minimum capital requirement.
- Tax-Friendly Environment: Montenegro offers a Corporate Tax rate of 9% for profits under €100,000 annually. The strategy presented suggests structuring the company to minimize tax liabilities, allowing only for a monthly salary expense and associated taxes.
- Low Monthly Salary Requirement: A minimum salary of €450 plus approximately €100 in taxes is required, which can be managed by the business owner themselves.
- No Physical Presence Required: The Residency permit application can be made without the need to reside in Montenegro, making it attractive for remote business owners.
Methodology/Step-by-Step Guide:
- Set Up a Company:
- Register the company online.
- Complete the registration within 8 to 10 days.
- Employment Requirement:
- Hire at least one employee (can be the owner).
- Pay a minimum salary of €450 plus taxes.
- Monthly Accounting:
- Engage an accountant for monthly reporting.
- Address Requirement:
- Obtain a local address in Montenegro for business operations.
Presenters/Sources:
- Herman Kman, CEO of the company discussed in the video.
Notable Quotes
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Category
Business and Finance