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Things You’ve Never Heard About Montenegro!

Montenegro, one of the most popular countries in the Balkans, has consistently remained in the news thanks to the promotions on its social media accounts. YouTube videos, Instagram posts, TikTok posts, and Facebook posts highlight Montenegro’s many features, including its history, cultural heritage, natural beauty, sea, and beaches.

However, there are also some less-told key points for those looking to settle in Montenegro, start a business, or live long-term. Here are some details you might not have heard about Montenegro before…

Montenegro’s Location and Demographics

Montenegro (Montenegrin: Crna Gora / Црна Гора) is a small but impressive country on the Adriatic coast in the Balkans. It is bordered by Bosnia and Herzegovina and Serbia to the north, Kosovo to the east, Albania to the south, and Croatia and the Adriatic Sea to the west. Its capital, Podgorica, is the country’s center in terms of both population and area.

Cetinje, distinguished by its historical and cultural heritage, retains its former status as the kingdom’s capital. While Montenegrins constitute the majority of the population, Serbs, Bosnians, Albanians, and Croats also contribute to the country’s ethnic diversity.

According to official records in 2023, the country’s population was 623,633. This number is projected to be around 631,358 by 2025. However, because a significant portion of the young population lives abroad for education and work, the actual population is estimated to be around 400,000–450,000. Furthermore, according to records from the Ministry of Internal Affairs (MUP), as of 2023, the number of foreigners holding temporary or permanent residence in Montenegro was approximately 95,147.

Starting a Business in Montenegro

The procedure for establishing a company in Montenegro is straightforward. However, most employees in the country’s official institutions speak Montenegrin, Croatian, Serbian, or Bosnian. English is only widely spoken in tourist areas. Therefore, working with a consultant or local accounting firm is almost mandatory.

Local accountants will handle the company opening process in accordance with the procedures, while consulting firms will also provide information about residency, citizenship, job opportunities, and daily life.

tourism and Economy

Montenegro’s economy relies heavily on tourism. The tourist season begins in early June and ends in the first week of September. During the summer months, the country’s population nearly quadruples with the arrival of 2.5–3 million tourists. The most popular destinations for seaside tourism are Budva, Kotor, Tivat, Ulčin, and Bar. Budva and Kotor are home to magnificent beaches and historical sites, as well as natural beauty.

Ulčin offers a variety of wonderful beaches on its fine, golden sands. The north of the country is a popular destination for winter tourism. The ski resorts in Kolašin and Žabljak are particularly active during the winter months.

Besides tourism, the service sector and real estate investments also contribute to the country’s economy. While cities other than the capital, Podgorica, quiet down during the winter and spring months, Podgorica remains busy.

European Union Process

85% of the local population supports European Union membership. The use of the euro in the country is an advantage that could accelerate this process. However, the Montenegrin government has introduced new regulations for foreigners in recent years.

Simply establishing a company is no longer sufficient for a residence permit. The company must have active commercial activity. Otherwise, residence permits are not renewed, and applications are rejected.

Family Reunification and Residence Permit

It is possible to bring your family to Montenegro by establishing a company. However, there is a rule for spouses and children who obtain residence permits through family reunification: They can only stay outside Montenegro for one month within a year. If they stay abroad for a longer period, their residence permits are not renewed.

Extra İnformation And Headings 

Real Estate Investment in Montenegro

In recent years, real estate has become the most preferred investment area for foreigners. Housing prices, especially in the Budva, Kotor, and Tivat regions, have increased significantly. Foreigners can apply for a residence permit if they own property.

Cost of Living

Montenegro has a more affordable cost of living compared to many European countries. The average rent ranges from €500–1000, while basic food and transportation costs are also reasonable. However, prices increase during the summer season in tourist areas.

Healthcare and Education System

While the country has public hospitals, foreigners generally prefer private healthcare institutions. Private schools and universities offer English-language instruction.

Montenegro for Digital Nomads

Montenegro is an attractive country for digital nomads and freelancers due to its strong internet infrastructure and low cost of living. The coastal cities of Budva and Tivat are particularly popular with foreigners embracing this lifestyle.