Residence Permit in Montenegro

As a foreigner, you can obtain a temporary residence permit for Montenegro (valid for 1 year) in two ways:

This residence permit must be renewed annually; after 5 years you have the chance of a permanent residence permit.

When setting up a company, the process looks like this:

You need relevant documents such as a valid passport, police certificate with apostille and proof of qualifications such as degrees
You set up a company locally. Shell companies are not allowed in Montenegro
In addition to incorporation, you must have health insurance for one month (approx. €30), go to the doctor once (approx. €25) and complete a few administrative procedures
You also need a notarized residence in Montenegro. Simply ask your landlord and make sure that he or she is willing to go with you to the notary
It is also advisable for your company to open a bank account in Montenegro
Prices and included services for setting up a company vary greatly, all together being offered from €800 to €1600