Reasons to live and work in Montenegro
Montenegro has the potential to become a magnet for investment because of its business-focused economic system. It enjoys great economic freedom and monetary stability.
Montenegro ranks 42nd out of 190 economies in terms of ease of doing business, according to the 2018 World Bank Doing Business Report.
The Government's privatization policy has attracted many foreign investors. Pursuant to the Foreign Investment Law, there is a real equal treatment between Montenegrin and foreign investors in the country. The Government has established many customs and fiscal incentive measures.
The sectors attracting most of the FDI are tourism, real estate, energy, telecommunications, banking sector and construction. The main investing countries are Switzerland, Norway, Austria, Russia, Egypt and Italy.
Country attracts a lot of foreign investors for the following reasons:
- foreign companies have the same rights as national companies;
- the tax system is one of the most competitive in Europe;
- the workforce is qualified and wages are relatively low;
- the Euro is the national currency;
- formalities for creating a company are simple and quick;
- it is a stable democratic NATO country.
Consequently, strong demand for number of professional profiles creates opportunity for skilled foreigners who wish to live and work in Montenegro.
Who is foreigner?
During his/her movement, stay and work in Montenegro, a foreign person shall be obliged to act in accordance with the regulations applicable in Montenegro and decisions of the competent state authorities.
Pursuant to Article 2 of the Foreigners Law (Official Gazette of Montenegro, No. 12/2018), foreign citizen means any citizen of another state or a stateless person (in terms of this site, a foreign citizen is not a foreigner who exercises the privileges and immunities under the international law).
A stateless person is a foreigner whom no nation consider him/her its citizen in accordance with its legislation or provisions of ratified and published international treaties and generally recognized.
What conditions must be met if a foreigner wishes to work in Montenegro?
Condition precedent for employment of a foreign person is the work permit.
It is a license that allows free access to foreigner labor market, regardless of the state and market relations.
A foreigner with a personal work permit has an equal status as a Montenegrin citizen in terms of unemployment and employment rights.