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How to Make Changes to Your Company in Montenegro

Updated on Wednesday 10th April 2019

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How-to-Make-Changes-to-Your-Company-in-MontenegroStarting a business in Montenegro is not complicated, as the government has enabled various tools through which the company registration procedure has been simplified. Considering foreign investors have the possibility of opening companies in Montenegro under the same regulations as local entrepreneurs makes the country very appealing. However, opening a business can also imply making changes during its lifespan and this is also possible in Montenegro.

There are several changes which can be brought to a Montenegro company. Below, our Montenegro company formation advisors explain what the alterations to be made in a company are and how to do them. You can also rely on us if you want to register a business in Montenegro or amend your existing company’s details.

What changes can be made in a Montenegro company?

According to the Company Law in Montenegro, there are several changes which can be brought to a business. Among these are, the most common are:

  1.           a company can change its legal address, especially when operating from a rented or even a virtual office;
  2.           a company can also undergo various changes in its shareholding structure, as shareholders can leave the company;
  3.           a Montenegro company can also undergo changes in its management structure, as it can replace directors;
  4.           a business can also change its trade name, most of the times if taken over or if it changes its activities;
  5.           a company in Montenegro can also bring various amendments to the share capital, case in which various notifications are required;
  6.           there are also situations in which a company in Montenegro can change its business structure.

It is very common to bring changes to Montenegro shelf companies purchased by foreign investors interested in starting the operation as soon as possible.

Our company registration specialists in Montenegro can explain the requirements imposed by the law upon making changes in a company.

How to change the legal address of a company in Montenegro

As mentioned earlier, changing the business address of a company is quite common in Montenegro, as it is the right of the owners to improve the office space they run a business from, or to expand. Also, it is possible for the businessperson to use a virtual office during the Montenegro company formation procedure and thus, finding another legal address is required after the procedure is completed.

Changes in the shareholding structure of a Montenegrin company

The founders of a company have the right to leave a company any time. This will imply altering the shareholding structure of the Montenegro company by allowing another party to purchase the shares of the previous shareholder. It is also possible for the other shareholders to buy the remaining shares.

When making changes to the shareholding structure of a company in Montenegro, there are several requirements which need to be respected when it comes to the number of shareholders.

If you want to open a company in Montenegro, our local agents can offer information on the provisions of the law that you need to respect.

Changing the management of a company in Montenegro

Another common change which can be brought to a business in Montenegro refers to the management structure. The procedure through which such changes can be made must consider the provisions of the company’s bylaws. In certain cases, such as those of public companies, the requirements of the Company Act must also be respected.

Changing the company name in Montenegro

Even if changing the trade name of a business is not often met, it is possible to make such a change in a Montenegro company. The procedure of changing the trade name will occur under the same circumstances as when selecting the company name for the first time.

Our Montenegro company formation consultants can explain how to change the trade name of a business.

The procedure of changing company details in Montenegro

In order to make changes to a company in Montenegro, the following procedure must be respected:

  • -          the changes must first be discussed and approved during a shareholders’ meeting (a majority voting for the changes is also required);
  • -          then, a notification about the changes must be submitted with the Companies Register in Montenegro;
  • -          the Trade Register will revise the changes and if accepted, it will issue the approval of the amendments;
  • -          the company’s Articles of Association must then be altered, and the new changes will be added;
  • -          the amended Articles of Association will be filed with the Trade Register and the alterations will be recorded in the database of the Registrar.

If you need help in making changes to your company or starting a new business, please contact our company formation agents in Montenegro.

 

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Call us now at + 385 1 8897 684 to set up an appointment with our company formation agents in Podgorica, Montenegro. Alternatively you can incorporate your company without traveling to Montenegro.

As our 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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