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