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NewsEvery third company in Montenegro was founded by foreigners

Every third company in Montenegro was founded by foreigners

The largest founding capital of the company, which was registered in 2021, is more than EUR 140 million and is owned by a foreigner, according to the data of the Revenue and Customs Administration. At the same time, one foreign-owned company paid a tax of 14.7 million euros.

During the last year, 5,558 new companies were registered in the Central Registry of the Detention Court. Of this number, even a third were founded by foreigners from only four countries. Specifically, 935 companies were registered by citizens of Turkey, another 525 from Russia, 236 from Serbia, and 146 from Ukraine.

– The number of companies registered in 2021 with mixed capital and founders from Montenegro and from Russia, Ukraine, Serbia and Turkey is 77 – specified from the Revenue and Customs Administration.

The most new companies were registered in the segment of restaurants and mobile catering facilities – 424, followed by the construction of various types of buildings with 332, and companies offering consulting services for business and management – 274, and wholesale trade with 272 newly established companies. Also, 216 retail stores selling a variety of goods, 178 companies engaged in the preparation and serving of drinks and another 166 engaged in programming were established.

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The list of the five largest individual amounts of founding capital for companies founded in 2021 is headed by a foreign company with a contribution of as much as 140,848,768 euros. It is followed by a newly founded domestic company with 30 million founding capital, and then two more in foreign ownership with 9,756,740 euros, or 6.5 million euros. The fifth is a domestic company with a registered stake of 2,919,642.33 euros.

The five largest amounts of taxes paid by companies in foreign and mixed ownership for 2021 ranged between seven and 14.7 million euros. In particular, the largest was paid by a company engaged in the extraction of brown coal and lignite – 14,678,057 euros, followed by a company for cable telecommunications 14,024,744 euros. A company that performs wireless telecommunications activities paid 8,364,811 euros in tax, an institution for monetary mediation paid 8,091,995 euros, while a tax of 7,248,931 euros was paid by a retail trade registered for the sale of various goods.

Russians founded six times more companies in 2022.

Since the beginning of this year, 8,679 companies have been established, of which 573 are those dealing with programming, 454 are restaurants and mobile catering facilities, 448 are offices for business and management advice. 382 companies engaged in construction, 368 wholesale shops of various products, and 362 retail shops, which also have a diverse offer, were also established. 162 new companies that offer services in the field of information technology, 160 real estate agencies, 153 cafes, 143 engineering bureaus that also offer technical consulting, 113 online retail stores, another 107 companies for trucking, and 104 for hotel accommodation were also registered.

Russian citizens have founded 3,091 companies in Montenegro since the beginning of 2022, which is six times more than the whole of last year. For the sake of comparison, citizens of Turkey and Ukraine formed a third more companies than last year, more precisely 1,236 and 190, respectively. The number of those owned by citizens of Serbia is slightly higher – 247, as well as companies with mixed capital whose founders are from Montenegro and Russia, Ukraine, Serbia and Turkey and is 102.

The data available so far from the UPC indicate that the list of five largest individual amounts of founding capital for companies founded this year is domestic with 22,510,001 euros. It is also followed by a domestic company with half the founding capital of 11,726,001 euros. They are followed by another domestic company with a contribution of 7,809,005 euros, a foreign company with 7,618,302 euros, and again a domestic company with 6,570,621 euros of founding capital, local media writes.

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