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Articles
Open Travel Agency in Montenegro
Updated on Thursday 16th July 2020
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Montenegro has 300 km of coastline and beautiful mountains located in the north side of the country. These attract numerous visitors from all over the world every year, the tourism industry accounting for 20% of the GDP (Gross Domestic Product). The tourism in Montenegro is concentrated on resorts and hotels along the coast. The country is also developing a wider tourism industry which relies on rural and cultural tourism, as well as ecotourism.
In this article, our company formation agents in Montenegro explain how to set up a travel agency in Montenegro.
What are the steps required to open a travel agency in Montenegro?
When opening a travel agency in Montenegro, investors must first decide which type of business structure they want to set up.
The most common kind of business vehicle in this jurisdiction is the limited liability company (D.O.O.). In order to open such a company in Montenegro, the following documents have to be obtained:
- - the Articles of Association: a document which contains the company purpose and the duties and liabilities of its members;
- - the structure of the business: the way in which the company is structured;
- - a list of the founders and the Board Members: generally, these are the chief executive officer (CEO), the chief financial officer (CFO) or the executive vice president;
- - other documents: our company registration advisors in Montenegro can provide further details on what these other documents consist of.
Investments in tourism can also be made under the Montenegro citizenship by investment scheme.
Why Montenegro?
Montenegro is a very attractive tourism destination. In the last years, the statistics related to the number of travelers who visited Montenegro are as follows:
| Year | Total tourist visits | Local | Foreign |
| 2015 | 1,713,109 | 153,185 | 1,559,924 |
| 2016 | 1,813,817 | 151,696 | 1,662,121 |
| 2017 | 2,000,009 | 122,797 | 1,877,212 |
What licenses are required to become a travel agent in Montenegro?
According to the Tourism Law, in Montenegro, travel agency activities can be effectuated only by companies which are listed in the Central Registry of Business Court.
Businesses which are listed in this court must be registered as travel agencies and they must have a license which is issued by the Ministry in charge of tourism here.
Our Montenegro company formation consultants can offer further information on this license and the methods through which it can be issued.
If you require further information on the travel industry in Montenegro, or for help to open a Montenegro business, please contact our friendly staff.
Meet us in Montenegro
Vladimir Radonjic is an attorney and a managing partner at Radonjic/Associates. He can help clients open companies in Montenegro.
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 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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