Treatment of foreign investors

Foreign investors may invest in any industry and are free to transfer funds, assets and other goods, including profit or dividend. Foreign investors enjoy national treatment, i.e. have the same status as the domestic ones.  

Foreign investors include: foreign physical or legal persons with headquarters abroad; companies with more than 25% of foreign capital; Montenegrin citizens residing abroad for more than 12 months, or companies set up by foreign citizens in Montenegro.

Foreign investments are implementable through:

Setting up of a new company (independently or together with other investors);

Investing in existing companies;

Setting up a foreign company branch;

Purchase of a company.


Visa regime for foreign citizens

Holders of travel documents containing a valid Schengen visa, a valid visa of the United States of America, United Kingdom of Great Britain and Northern Ireland or the Republic of Ireland, or a permission to stay in these countries, may enter and stay, or pass through the territory of Montenegro up to 30 days, and not longer than the expiry of visa, if the period of validity of the visa is less than 30 days.

Holders of travel documents issued by the European Union Member States or the United States of America, Kingdom of Norway, Republic of Iceland, Swiss Confederation, Canada, Commonwealth of Australia, New Zealand and Japan based on the Convention Relating to the Status of Refugees (1951) or Convention Relating to the Status of Stateless Persons (1954), as well as Travel Documents for Foreigners may enter, pass through the territory of and stay in Montenegro up to 30 days without a visa.

Mere possession of a visa does not grant the entry to Montenegro. Other legal requirements for granting a foreigner the right to enter and stay in Montenegro must also be met, according to the Law on Foreigners (“Official Gazette of Montenegro” 56/14, 28/15 and 16/16).

Visa regime between Montenegro and other countries is regulated by the Decree on visa regime (“Official Gazette of Montenegro” 35/16).

Visa in itself does not grant of permission to work in Montenegro. Person who intends to work in Montenegro must obtain a temporary residence permit for the purpose of employment or seasonal work, on the grounds of previously issued work permit.

Purchase of real estate

Foreigners in Montenegro have the right to purchase real estate under the conditions fulfilled by domestic entities and by presenting an identification document. However, according to the Law on Property Relations, a foreigner cannot own natural resources, public goods, agricultural land, forests and forest land, cultural monuments of great and special importance, real estate in a land-border area up to a depth of one kilometre and islands, real estate located in an area which was declared by law an area in which foreigners cannot have right of ownership in view of protecting the interests and security of the country.

Exceptionally, foreigners may also acquire the right of ownership on agricultural land, forests and forest land having a surface area of up to 5,000 m2, only if a residential building located on that land is the subject of the contract of divestiture (sale, gift, exchange, etc.).

Foreigners may be entitled to a long-term lease, concession, BOT and other arrangements of public-private partnership over the above mentioned real estate.

By means of legal transactions, foreigners may transfer the right of ownership to domestic persons, as well as to foreign persons eligible for that right.