What Are The Conditions for Obtaining a Work and Residence Permit by Establishing a Company in Montenegro? 14 May 2019
Montenegro has received the status of “candidate country” for membership of the European Union and Montenegro is expected to be a member of the European Union in the near future. Montenegro attracts the intense interest of investors due to its developing economy and its close proximity to EU membership. It is possible to obtain work and residence permit by establishing a company in this country which has great potential and advantages. In order to do this, it is sufficient to deposit minimum 1 Euro capital to the company to be established and to apply for work and residence permit following the establishment of the company.
For both investors and those who want to obtain a work permit and a residence permit, it is necessary to provide the necessary documents and to establish the company. It is not necessary for the company establishment to be personally present in Montenegro and it is possible to carry out the process with a power of attorney through a lawyer. The company establishments in Montenegro last for approximately 5 days and must subsequently be applied for work and residence permits.
Applications for work and residence permits are made by the applicant in Montenegro himself, for which a 2-day trip to Montenegro is sufficient. Applications for work and residence permits are estimated to last for 2-3 weeks, and the permission must be renewed every year until the fifth year. At the end of the fifth year, permanent residence and work permit is entitled.
The opportunity for work and residence permit with the establishment of a company in Montenegro is not only for company founders but also for family members. In addition to the necessary documents for work and residence permit applications, it is possible for family members to obtain working and residence permits with the documents related to being family members or by appointing executives / representatives in the established company.
The procedures for establishing a company as well as working and residence permit require an effective and up-to-date knowledge of the process in Montenegro as well as legal experience. In this sense, we would like to remind you that the effective service delivery and consultancy as well as reliable support from a legal point of view will be beneficial in company establishment transactions and applications for work and residence permits in Montenegro.
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