In 2006, Montenegro broke away from the Union of Serbia and Montenegro to become a sovereign nation. Since gaining its independence, the nation has had to deal with slow development rates. In 2010, the European Commission recommended that Montenegro be included as a traditional candidate for EU membership. The nation’s progress has continued, as evidenced by its admission to the World Trade Organization in 2011 and the World Bank and IMF in 2007. The nation is steadily headed toward becoming a fully fledged member of the European Union in the next year or two.
The economy of Montenegro has performed well in the last several years, as seen by a steady increase in GDP while the country moved toward a market economy. Businesses have numerous opportunities to invest in the country. Ever since gaining independence, the government has hoped to sell off state-owned businesses in the areas of energy, banking, and media transmission. Many nations have begun to take note of Montenegro’s abundant territory and the possibility for Europe’s economy to flourish there. Nations such as Italy, Norway, Austria, Russia, Hungary, and the United Kingdom have made significant investments in the country; among the most notable per capita initiatives in Europe is Montenegro, which recorded a net unexpected direct speculation of $483 million.
The Montenegrin legislature has made major reforms in recent years and created an environment that is friendly to businesses. According to the World Bank Group’s “Working Together 2016” report, Montenegro ranks 46 out of 189 economies globally for how easy it is to collaborate and 59 out of 189 for starting a firm. The country’s membership in the WTO and the legislature’s efforts to align with EU legislation have created a favorable environment for business leadership. This combination, together with the nation’s assessment system that has been completely favorable for outside speculators, makes its duty system one of the strictest in all of Europe, with a relative corporate benefit fee set at 9% and access to several spending deductions.
Moreover, Montenegrin legislation has granted equal legal treatment to both local and foreign organizations. Unknown speculators can therefore: i) invest in any industry; ii) move all budgetary and other resources, including profits and benefits, without restriction.
