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Company Formation Montenegro

Open a D.O.O in Montenegro

Updated on Monday 28th November 2016

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What is a D.O.O in Montenegro?

With the smallest share capital requested (only 1 Euro), the D.O.O represents the limited liability company in Montenegro. This type of company is the most common form of business in Montenegro. At least one shareholder is necessary for registration. The liability in the company of the shareholder is equal to its contribution at the initial capital.

The maximum number of shareholders in a D.O.O mustn’t exceed 30. The shares are not freely transferable to the public. The company’s management may be assured by a Board of Directors. If a Board of Directors is elected it may appoint a general manager to action in its name.

What is the company registration procedure for a D.O.O in Montenegro?

Registering with the Central Register of the Commercial Court of Montenegro requires a few documents:

  • - the articles of association;
  • - the company structure;
  • - a list with the founders and the board Members;
  • - data regarding these members (names, date of birth, place of birth, place of residence);
  • - the company name and address of correspondence and headquarter;
  • - name of the executive manager;
  • - the names of the persons responsible with the company representatiom;
  • - the proof of payment of the registration fee.

After submitting the correct documents, a Certificate of Registration is issued as evidence. Also, the registration announcement is published in the Official Gazette.

Any change that might interfere must be reported immediately to the Central Register of the Commercial Court (no longer than 7 days from the decision). The amendment becomes valid only after the registration in the Central Registry.

Annual financial statements are also required. Our company formation experts in Montenegro can give you more details about these financial statements.


Converting a limited liability company into a joint stock company

A limited liability company may be transformed into a joint stock company if certain criteria are accomplished: the minimum share capital is 25,000 Euro paid in full, a decision is taken by the general meeting of the shareholders and the amendments are registered at the Central Registry.  In these types of situations it is recommended to ask for the help of our experts in company registration in Montenegro, who have handled company conversions before and can ease this process for you.


How to liquidate a limited liability company in Montenegro

The liquidation of the limited liability company in Montenegro is made after a general meeting of shareholder’s decision or after a Court decision (in case of bankruptcy or if the law is broken). A liquidator must be appointed during the General Meeting, to carry out the liquidation process. The decision must be sent to the Central Registry and published in the Official Gazette.

After all the company’s debts have been paid, and no creditor is raising another claim, the rest of the remaining assets can be divided between the shareholders; the ones that had invested more have the priority. 

In case you would like to open a limited liability company, our team of specialists in company formation in Montenegro is at your disposal. Contact us now for a personalized offer. 
 

Russian and German investors interested in company formation services, will be put in contact with our partners: Firmengründung in Montenegro and Региситрация компаний Черногорье.

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Call us now at +382 67 236 384  to set up an appointment with our company formation agents in Podgorica, Montenegro. Alternatively you can incorporate your company without traveling to Montenegro.

As a Collis Advisory client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Montenegro.

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