Why are not more people mentioning Montenegro?

[Marcus Aurelius]

In my search for a country with an interesting tax regime I came across Montenegro but not a lot of people seem to be talking about this.

Some of the characteristics I have been able to find about Montenegro:

- 9% corporate tax.
- 0% corporate tax on income source outside of Montenengro for companies owned by foreigners. Not sure about this one, it is what I could make up from reading online.
- Low incorporation costs <1k
- Low initial share capital of 1 Euro.
- No Automatic Exchange of Information (AEOI)
- No Common Reporting Standards (CRS)

All looks quite interesting if you are looking to setup in Europe and pay a low tax or am I missing something?

So, my question is.. Would Montenegro be an interesting option if you want to incorporate in Europe? And does anyone have any experience with this jurisdiction?

 

[stefpdt]

Montenegro is a beautiful hidden gem from a touristic perspective, great place to own property or run some other type of physical business on the ground over there.

The kicker is that you'll probably want to be in the country to do business over there.

The country is severely underdeveloped.

It's hard enough to get s**t done living in the Balkans, I can't imagine trying to manage a business structure over there remotely, unless you have a very trustworthy contact on the ground.

 

[Martin Everson]

Marcus Aurelius said:
In my search for a country with an interesting tax regime I came across Montenegro but not a lot of people seem to be talking about this.
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Because it is a corrupt third world banana republic maybe...just a guess 🙄. I would have put my pension in Bitconnect and bought shares in Satabank before I go near Montenegro.

https://www.offshorecorptalk.com/threads/ibm-bank-montenegro-bankruptcy.25069/#post-90561

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Marcus Aurelius]

Martin Everson said:
Because it is a corrupt third world banana republic maybe...just a guess 🙄. I would have put my pension in Bitconnect and bought shares in Satabank before I go near Montenegro.

https://www.offshorecorptalk.com/threads/ibm-bank-montenegro-bankruptcy.25069/#post-90561
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How about the more famous offshore places, are they not a third wold banana republic? Belize, Seychelles, Vanuta and others? I would even go as far as calling UAE a banana republic judging by their laws.

Bulgaria, been there once and would never go back. What an absolute shithole.

So, why is Montenegro considered a third world banana republic?

 

[Martin Everson]

Marcus Aurelius said:
How about the more famous offshore places, are they not a third wold banana republic? Belize, Seychelles, Vanuta and others?
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Yes. You ever thought why they introduce offshore banking?🙄

Marcus Aurelius said:
I would even go as far as calling UAE a banana republic judging by their laws.
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Yes. I talked about UAE below its worse than a banana republic.

https://www.offshorecorptalk.com/threads/to-do-list-to-avoid-crs.26390/post-100016

Marcus Aurelius said:
Bulgaria, been there once and would never go back. What an absolute shithole.
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I did too see my opinion below I don't disagree....lol

https://www.offshorecorptalk.com/threads/getting-the-bulgarian-residency.24176/post-81196
I also come from a third world sh*thole so I know one when I see it.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[stefpdt]

When I was renting a place in the heart of Budva, it was a very nice condo with modern amenities, but the place didn't even have an actual address.

I assume that property was unregistered because the local government there is incompetent, corrupt or both.

That's a small scale example of Balkan culture.

 

[Martin Everson]

lol....In developing countries this is normal for addresses smi(&%. Wouldn't want to be a postman in those countries.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Bmw850]

Amazing how experience differs between guys, i have good experience with customers there, no 3rd world money at all 😉

 

[stefpdt]

I would consider buying beachside property in Budva or Kotor during the next downturn.

The Adriatic Sea is incredible and properties are in high demand during the vacation months (right now).

Montenegro is like a poor man's Croatia so working class people from the Balkans or Russia will always be able to afford vacationing there.

It's pretty cheap.

 

[Marcus Aurelius]

stefpdt said:
I would consider buying beachside property in Budva or Kotor during the next downturn.

The Adriatic Sea is incredible and properties are in high demand during the vacation months (right now).

Montenegro is like a poor man's Croatia so working class people from the Balkans or Russia will always be able to afford vacationing there.

It's pretty cheap.
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And what has this to do with my guestion?

 

[Marcus Aurelius]

Bmw850 said:
Amazing how experience differs between guys, i have good experience with customers there, no 3rd world money at all 😉
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Can you elaborate a bit on your experience?

 

[Marcus Aurelius]

Martin Everson said:
Yes. You ever thought why they introduce offshore banking?🙄



Yes. I talked about UAE below its worse than a banana republic.

https://www.offshorecorptalk.com/threads/to-do-list-to-avoid-crs.26390/post-100016


I did too see my opinion below I don't disagree....lol

https://www.offshorecorptalk.com/threads/getting-the-bulgarian-residency.24176/post-81196
I also come from a third world sh*thole so I know one when I see it.
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Thanks for your reply.

No country is a s**t hole. Governments make it a s**t hole.

 

[Martin Everson]

Marcus Aurelius said:
No country is a s**t hole. Governments make it a s**t hole.
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You contradict yourself here from one sentence to the next. You can't claim that no country is a sh*thole and then say governments make it a sh*thole....lol🙄

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Bmw850]

Marcus Aurelius said:
Can you elaborate a bit on your experience?
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No special things to say about possible setup there, I don't know nothing.
Speaking about super money powered customer from there

 

[stefpdt]

Marcus Aurelius said:
And what has this to do with my guestion?
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People who incorporate in Montenegro are usually involved in the tourist industry in one way or another. Like owning vacation rentals or taxi companies.

There aren't many other reasons why people would incorporate there.

If you still think otherwise I'd love to see some examples of companies that are based in Montenegro. Please showcase your research.

 

[myhand]

stefpdt said:
If you still think otherwise I'd love to see some examples of companies that are based in Montenegro. Please showcase your research.
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second that and while we are on it, did you find any reliable provider of company formation in Montenegro?

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[rowena]

MarioSmith said:
For Montenegro companies we open accounts in banks like ERSTE, OTP, ADDIKO = these are well known business banks and definitely much better like Vanuatu, Belize or even UAE sh___hole bank Mashreq.
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Whats the problem with mashreq bank ?

 

[1nomad]

what's the benefit of owning a Montenegro company? As far I know, there's no CFC rules, so you can live there and run any foreign company and pay 9% local tax or pay nothing. Living in Montenegro is for sure much closer to European standards than for example in Cyprus

 

[rowena]

Montenegro is an undeveloped and small country with good nature but still hard to live also their banking system is like from 1990

 

[1nomad]

of course, it is not England or Germany, but believe me, better than Cyprus and it is accessible by car. No needs using their banks, anyway, I'd prefer Montenegro banks to Caribbean banks. They have often interest about 3 - 4% p.a., not bad nowadays