Reasons for starting your own business (in Montenegro)

Each of us wants, or thinking at least once in our lives, to start a business and solve some problem. Some research shows that even every third person in the world is thinking about starting their own business. However, does everyone achieve that?

When it comes to starting a business, a lot of questions arise and most of us have only obstacles in our heads, that need to be crossed in order to achieve the set goal. In this article, we will talk about the advantages of starting a business, as well as the advantages of establishing a company in Montenegro and how to do it.

Why start your own business?

The situation with the Covid-19 pandemic has affected the way of thinking and our perception in many spheres of life, including the business field. There was a total lockdown, a downturn in the economy, a real danger of losing a job, a reduction in income, etc. Although for many it is insane to start a business in this situation, what if it is your opportunity?

We are aware and have witnessed that everything has turned 180 degrees. This leads to the fact that new needs are being created, new problems that have not been solved so far. This is exactly your opportunity to start a business. Every business starts with an idea. An idea that represent a solution to a problem.

In addition to the idea, motivation is indispensable on this path. The advantages offered by starting your own business are the biggest motivators. Some of them are:

  • A combination of passion and work

Do what you love. Going to a job you hate, however simple it may be, is tiring and brings you uneasiness. If your business is what you sincerely love, you will feel like you are not working at all.

  • Independent in setting the working hours

Working hours from 9 to 5 no longer exist. If you don’t have time, or you want to dedicate it to your family and friends on Monday morning, now you have the opportunity to do so. Also, if you feel inspired and productive, you can work on Sunday morning. You decide when and how much you want to work.

  • Better income

When you have your own business you will have a stronger sense of commitment to make your business succeed. This will push you forward and give you extra motivation to take advantages of all opportunities and to dedicate yourself to work to the maximum. This will certainly lead to higher revenues.

Advantages of establishing a company in Montenegro

In addition to these, and many other advantages that the establishment of a company brings, it is important to note that it is necessary to think about the conditions in which the company is established. Montenegro is a country that offers many opportunities and is a favorable country for starting a business.

Some of the advantages when establishing a company in Montenegro are:

  • Company formation in Montenegro is fast and uncomplicated process.
  • Montenegro offers the lowest income tax rates in Europe at a flat rate of 9%.
  • VAT exemption on construction of high-end hotels, food production and energy production facilities.
  • An 8-year tax exemption of up to 200.000 EUR for companies newly incorporated in underdeveloped municipalities.
  • Resident entities are entitled to a foreign tax credit on taxes levied on income realized abroad; but not exceeding the amount that would have been paid locally.

More about the advantages of business formation in Montenegro read here.

You can find out about these and many other advantages in the investment consulting company AMR Global Advisors in Podgorica.

AMR Global Advisors is a unique company in Montenegro in which you will receive services in one place, from company registration to a wide range of services for starting and developing your business, which will save you time and money.

Our team of experts is available for all types of legal, accounting and marketing services, real estate and payment processes. In this way, our clients bypass the exhaustive bureaucratic and administrative procedure. The success of our many clients is the result of our dedicated and comprehensive work.

If you need consultations regarding the establishment of a company in Montenegro, feel free to contact us, our team will be happy to meet you.

AMR Global Advisors

+382 69 01 14 14