Last year, foreigners founded more than 7.000 companies in Montenegro, of which Russian citizens, according to data from the Revenue and Customs Administration, were the founders of almost 4.000.
Economists estimate that the motive for starting a business is often not the desire to invest, but rather the easiest way to obtain temporary residence in the country.
The Ministry of the Interior (MUP) confirms that in 2022 they approved over 10.000 temporary residence permits, just because the applicants founded a company.
Although during the summer and winter season, many Montenegrin cities are full of tourists, in recent years, tickets for our country are more often bought in one direction.
According to the Ministry of Interior, there are currently over 90.000 foreigners in Montenegro.
Last year, more than 7.000 people found Montenegro as an address for starting a business.
Companies founded by foreign nationals usually deal with programming and consulting services.
However, the motive for starting a business is often not economic business, but the easiest way to get a temporary residence in Montenegro.
The MUP confirms that last year 10.000 temporary stays were granted to foreigners, precisely because they opened companies of which they are executive directors.
Domestic agencies for opening companies during the last year had their hands full for all those who did not want to deal with the Montenegrin administration.
Foreigners also benefit from the fact that, like our citizens, they can open a company with a capital of one euro and up to a maximum of 1.500 euros in registration costs, and all this in seven days.
For foreigners, as well as when it comes to tourism, the most attractive is Budva, where about 2.700 companies have been opened, followed by Podgorica with more than 2.600, and interest is not falling in Bar and Herceg Novi, where over 1.000 companies have been established.
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