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Change the Registered Office of Your Company in Montenegro

Updated on Thursday 04th July 2019

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Change-the-Registered-Office-of-Your-Company-in-MontenegroForeign investors have multiple business opportunities in Montenegro and can set up their operation under various types of structures governed by the Company Law. However, they also have certain responsibilities when setting up companies, among which the obligation of finding a legal address for the company in order for it to be considered a domestic business.

Those who want to open companies in Montenegro can choose a virtual office as first step in registering a business here, however, this is a temporary solution which is why the registered address needs to be changed. There are also other situations which require the change of the registered address of a Montenegro company and our local advisors explain them below. Our company formation agents in Montenegro can assist business owners who need to change the registered addresses of their companies.

Legal requirements for a company address in Montenegro

The Company Law provides the following requirements for companies in Montenegro:

  1. under Article 4A of the law, all types of companies must have a registered address in Montenegro;
  2. the registered address must represent the main place where the company or single entrepreneur completes its/his/her activities;
  3. if a company has more than one place for its activities, the registered address will be considered the one where its management is located;
  4. branch offices established by foreign companies in Montenegro must also have a registered seat in this country;
  5. a company or single entrepreneur has the right to change the registered office of the business, provided that notifications to the relevant authorities are sent.

There are various conditions imposed by the Company Law in case of all changes brought a company in Montenegro, however, the changes in a business’ legal address are often met in Montenegro.

Our company registration specialists in Montenegro can advise foreign investors who need to amend company details.

When can a Montenegro company change its legal address?

There are several situations under which a Montenegro company is required or decides to move its registered office. Among these are:

  • - upon the use of a virtual office as a legal address during the initial stage of the Montenegro company formation procedure;
  • - when the company moves its activities from one city or region to another and also moves its management;
  • - when the Montenegro company is subject to a merger or acquisition and the management is moved;
  • - when changing the address of the company’s seat, even within the same Montenegrin city;
  • - for any other reason the shareholders decide to change the company’s registered office.

If you need to change your Montenegro company’s registered address and need information on how to proceed, our consultants are at your disposal for assistance. We can also help you open a company in Montenegro and provide you with virtual office services in this sense.

Procedure for changing the registered office of a Montenegro company

The procedure for changing a Montenegro company’s registered address is not complicated and implies several steps. The first one is the meeting of the shareholders who need to make the decision of changing the legal address formal by issuing a declaration in this sense. The decision must then be submitted with the Montenegro Trade Register together with an application form which must contain the new address.

Once the change of the legal address has been approved by the Companies House in Montenegro, the shareholders have the obligation of notifying the tax authorities, the licensing authorities and its clients. Then, the company’s statutory documents need to be amended. Also, all official documents issued by the company need to bear the new address of the company.

Special attention must be paid when moving to another region in Montenegro, as a change in the business license could also be required.

If you plan on opening a company in Montenegro, we have good news:

  • - as the net foreign direct investments in Montenegro reached 848 million USD in 2017;
  • - the country’s Gross Domestic Product increased from 10,63 billion USD in 2016 to 11.08 billion USD in 2017;
  • - the real GDP growth registered in 2017 compared to 2016 was of 4.7%;
  • - tourism represents the most important industry in Montenegro, accounting for 20% of its GDP.

Other industries which offer investment opportunities in Montenegro are banking and telecommunications.

If you need assistance in chaining your company’s registered address or if you want to open a company in Montenegro, please contact our local representatives who can help you in both cases.

 

 

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Call us now at +382 20 620 312 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 Radonjic Associates 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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