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Company Formation Montenegro

Company Law in Montenegro

Updated on Tuesday 05th September 2017

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If you plan to establish a business, you must familiarize yourself with the company law of Montenegro. The main law which deals with corporations in is the Law on Business Organizations of Montenegro. The kinds of companies provided for under the law are individual entrepreneurs, general partnerships, joint stock companies, limited liability companies, and branches of foreign companies. Each kind is required to be registered. The law states that a corporation’s legal identity is distinct and separate from that of the persons comprising it and commences upon the company’s registration with the Central Registry. Our law firm in Montenegro has had plenty of experience in dealing with business organizations.
 

Types of companies in Montenegro

 
Under the Law on Business Organization in Montenegro, there are six types of companies. Our Montenegro law firm can help you choose the most suitable form you want to establish.
 
1. Individual entrepreneurs in Montenegro
2. Montenegro general partnerships
3. Limited partnerships in Montenegro
4. Joint stock companies in Montenegro
5. Montenegro limited liability companies
6. Branches of foreign companies in Montenegro
 

Mergers under the company law of Montenegro

 
A merger is a form of corporate restructuring under the Montenegro Law on Business organizations. One form of merger is when two or more companies join together through the transfer of assets and liabilities and the issuance of share in exchange for the transfer. In a merger, one company is absorb and loses its own legal identity. Another form is when two or more companies combine to form an entirely new entity which, in turn, issues shares to those corporations that were merged. Our law firm in Montenegro can guide you through the merger process.
 

Liquidation of companies in Montenegro

 
Liquidation occurs when the corporation is insolvent. This means that the assets of the company are no longer enough to pay off its liabilities. Under the Law on Business Organizations of Montenegro, liquidation can be done voluntarily. Voluntary liquidation can only be resorted to if the assets of the company are enough to cover its liabilities. An option for voluntary liquidation must also be provided for under the articles of association of the corporation, as well as the vote of shareholders. If you decide to undergo voluntary liquidation, our attorneys in Montenegro can help you get it done.
 
If you want to know more about the company law in Montenegro, just contact our local lawyers. We have all the information you need.
 

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