• 22 Agreements on economic cooperation in force with following countries: Austria, BelgiumLuxembourg Economic Union, Bulgaria, Czech Republic, Greece, Croatia, Hungary, Germany, Slovenia, Spain, Romania, Slovakia, Albania,
Argentina, Azerbaijan, Qatar, China, Republic of North Macedonia, Serbia, Swiss
Confederation, Turkey and UAE
• 23 Agreements on mutual promotion and protection of investments in force with:
Austria, Slovakia, Serbia, Czech Republic, Finland, Denmark, State of Qatar, Republic
of North Macedonia, Malta, France, Greece, Netherlands, Israel, Cyprus, Romania, Germany, Lithuania, Poland, Spain, Swiss Confederation, Azerbaijan, Moldova, and
United Arab Emirates
• Agreements on avoidance of double taxation in force with: Albania, Belgium,
Belarus, Bosnia and Herzegovina, Bulgaria, Czech Republic, Denmark, Egypt, Finland,
France, Netherlands, Croatia, India, Italy, Iran, China, Cyprus, Kuwait, Latvia, Hungary, Macedonia, Malaysia, Malta, Moldova, Germany, Norway, Poland, Romania, Russia, Slovakia, Slovenia, Sri Lanka, Switzerland, Sweden, Turkey, Ukraine, United Kingdom, Ireland, Serbia, UAE, Azerbaijan, Austria, Portugal. Recently signed with the Principality of Monaco
• Highest FDI per capita in the region since regaining its independence in 2006 totaling to over 9 billion EUR with investors from more than 125 countries worldwide;
• Since becoming full member of the NATO Alliance, investments from the Alliance countries in 2018 have grown by 64.1% Rankings of Montenegrin economy and
ease of doing business
• World Bank Doing Business Report 2018: (50/190)
• Moody’s: confirmed credit rating B1, retaining “positive” outlook.
• Standard&Poor’s (S&P): affirmed stable outlook for Montenegro, maintaining B+/B
rating
• Forbes Best Countries for Business: 72/160
• World Economic Forum’s Global Competitiveness Report 2018: (71/140)
• Global Innovation Index 2018: (52/126) MIBO, 4th Edition, July 2019
• Foreign companies enjoy the same treatment as national companies
• Foreign investors may invest in any industry and are free to transfer funds, assets and other goods, including profit or dividend
• Competitive tax system (general corporate profit tax and personal income tax is 9%, i.e. 11% for net wages above 720€)
• Incentives and tax reliefs for investment on both national and local levels, including in purposefully established Business and Free Trade Zones
• Simple procedure for creating a company (four days and founding capital of €1)
• Quality banking sector, with 13 private banks (no commercial state-owned banks)
• Qualified and affordable workforce: English widely spoken across professions and trades; average gross earning for 2018 €766/ net €511
• Increasingly popular tourism and lifestyle destination (“Wild Beauty” and “the Pearl of the Adriatic”) – One of the fastest travel growing destinations in the world, second fastest growing travel destination in Europe in 2017
• Favorable climate with annual average of 240 sunny days
• Geographical location with good accessibility – 2 international airports with year round and seasonal flights with most European capitals and towns and increasing number of flight connections with different regions of the world (including the market presence of low-cost carriers)
• Popular nautical / cruising / yachting destination (Port of Kotor, Port of Bar, Porto Montenegro, Porto Novi, Marina Budva, Marina Bar, Luštica Bay…)
• Fairly liberal visa regime