In Montenegro, there are over 15 companies, about a third of the total number, that have one or no employees, and 110 of them reported revenues of more than one million euros, according to data from the register of economic entities.
The law enables companies that do not have any employees to operate, i.e. in which the director is a volunteer without established seniority, while the Labor Law also allows companies to take over workers from mediation agencies, who are then managed as agency workers with a position in to the company that took them over.
The tax administration does not consider these companies suspicious in advance, but they are monitored in particular if certain suspicious transactions or actions occur.
The first ten companies in terms of revenue, which each have one employee, achieved a total of 311 million euros, that is, they earned 31 million euros per employee.
The record holder in terms of turnover is the company "Arsenis" from Podgorica, which with one employee last year achieved a revenue of 156 million euros. The founder of this company is another company "Granush Limited" from Cyprus, while its director is a Ukrainian businessman Arkady Krinicny (Arkady Krynychnyy). The address of the company is Atinska 20, in the settlement pod Gorica, and it is registered for wholesale trade in grain, raw tobacco, seeds and animal feed.
"Arsenis" was founded in July 2021 and in that year had an income of 14,1 million euros, in 2022 it grew to 160 million, and last year it was four million less. Despite the high revenues, the company hardly has a profit, it amounted to 2022 thousand euros in 13,6, and for the last year it increased to 13,7 thousand euros. The profit was less than 0,01 percent of the total revenue.
The company has no assets, but has total working capital of 84,3 million euros, which is also the amount of its short-term liabilities. Current assets mostly refer to stock of goods valued at 48,8 million euros and receivables from customers in the amount of 38,8 million euros.
The second company in terms of income from this group is "Vosmet Limited", it is registered for the wholesale trade of waste and scraps, and last year it earned 71,4 million euros. From that sum, a net profit of 581 thousand euros was reported. Its owner is Bojan Lukač and the director Drazen Gregl. Even in 2022, when it also had one employee, this company generated revenue of 65 million euros, and a net profit of 430.
The company "TCK Montenegro", which deals in wholesale trade in wood, construction materials and sanitary equipment, last year with one employee had an income of 22,8 million euros, of which a net profit of 658 thousand euros was recorded. The owner of this company is "Titan Cementara" from Kosjerić in Serbia.
The company "Krnovo Green Energy", which manages 26 wind farms in Krnovo between Nikšić and Šavnik, also has one employee, and last year it achieved an income of 21,4 million euros and a million euros in profit. The co-owner of this company with 51 percent is "Akuo Energy Central Europe" from Paris, connected with a businessman Emil Bakić, while 49 percent of the share is held by "Masdar Energy BV" from the Netherlands, whose ultimate owner is "Abu Dhabi National Oil Company" (ADNOC) from the United Arab Emirates.
"Amma resort", a company that deals with renting out real estate, last year with one employee, achieved an income of 12,6 million euros, while the final business result was a loss of 693 thousand euros. The founder of this company is the Podgorica company "Čelebić" of businessmen Tomislav Čelebić.
The company "Petite Geneve Petrović" from Tivat, whose majority owner is the company of the same name from Belgrade, last year with one employee reported an income of nine million euros, but also a net profit of two million. It was founded in 2018, and deals with the retail trade of watches and jewelry in specialized stores.
The company whose name is "PM 1.14" from Tivat last year generated an income of 8,8 million euros with one employee, as well as a net profit of two and a half million euros. The company was founded in 2014 for the construction of residential and non-residential buildings. Its current owner is the off-shore company "PM Holdings One Person Company LLC" connected to the owners of the Porto Montenegro settlement. In this luxury tourist-nautical resort, there are several companies that have PM and then a number in their name. Thus, "PM Holdings One Person Company LLC" is the founder of the companies "PM 1.5" and "PM 4.1". And the company "PM 1.5" last year had an income of 6,2 million with one employee and a net profit of 994 thousand euros.
The Budva company "Top Alco Brands Distribution" last year with one employee had an income of 8,6 million with a realized net profit of 140 thousand euros. The owner and director of this non-specialized wholesale trade company is Arsen Tatevosyan from Armenia.
Millions can be earned even without workers
Of the companies that have no employees at all, 151 of them have so far submitted their financial statements for the past year. Six of them have an income of more than one million euros.
"Valgo" from Podgorica, a part of the French company of the same name, had the highest income of 3,3 million euros, of which the net profit was 132 thousand euros. It was registered in 2017, and deals with environmental cleaning and other activities related to waste management.
The company "Skechers SARL", representative of the shoe production company of the same name, has no workers either. With a turnover of 2,7 million euros, they made a net profit of 933 thousand euros.
Also without workers are the companies "Alind" registered for the production of aluminum with a turnover of two and a half million, "Ream" for real estate management with an income of 1,7 million, advertising agency "Markads" with an income of 1,7 million, trading company " Beorol" with 1,3 million,...
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