Emigrate to Montenegro: Residence Permit & Tax Residency Guide

An image of monastery on a small island in Boka Bay Montenegro

Emigrate to Montenegro in 2023 – Residence Permit and Tax Residency

Image of a small fishing boat on Boka Bay in Montenegro at sunset

Emigrate to Montenegro in 2023 – Residence Permit and Tax Residency

Are you looking to immigrate to Montenegro?

  • Proof of property ownership.
  • Bank receipt showing deposit of 3,650 EUR in a Montenegrin bank.
  • Medical insurance for a 30-day period.
  • Passport copies
  • Proof of a clear criminal record from the home country
  • Registration with local police within 24 hours of arrival in Montenegro
  • Payment of the 25 EUR residency permit fee.
  • Salary up to EUR 700 (gross), are exempted from tax
  • Salary ranges from EUR 701 to EUR 1000 (gross), and are subject to 9% taxes.
  • All salaries above EUR 1001 (gross), are subject to 15% tax.

“One of the most significant changes in 2022 will be the introduction of a new income tax rate for entrepreneurs.

  • Taxes apply to all amounts between EUR 8,400.01 and EUR 12,000, except EUR 12,001.
  • A 15% tax is applicable for purchases above EUR 12,000.01.

Corporate Income Taxes for Montenegro
Montenegro’s progressive corporate profit tax (CPT) applies to all entities. The tax rate applicable depends on taxpayers’ realized profits. Tax rates range from 9% to 15%. These are the progressive tax rates:

  • The tax rate for profits up to EUR 100,000 shall be fixed at 9%
  • The tax will be payable on profits between EUR 100,000.01 and EUR 1,500,000 in the amount EUR 9,000 + 12% for profits above EUR 100,000.01.
  • For profits exceeding EUR 1,500,000, tax will be payable in the amount EUR 177,000 + 15% for profits above EUR 1,500,000.

Resident taxpayers pay tax on worldwide profits. Non-resident taxpayers pay tax on income from Montenegro or income attributable to their Montenegrin permanent institution (PE). Montenegrin-sourced income is subject to withholding tax (WHT), which is also applicable to non-residents.
(There are additional details about the Montenegro regulation of income taxes for domestic and foreign income that are beyond the scope of this article.

A chart showing the personal and corporate income tax rates in Montenegro, compared with other countries

Chart: Montenegro Personal and Corporate Income Tax Comparison Chart

An image of the view across Boka Bay and the mountains on a perfect day in Montenegro

Emigrate to Montenegro in 2023 – Residence Permit and Tax Residency

A table showing the cost of living in Montenegro compared with the cost of living in other well known locations.

Table: Cost of Living in Montenegro

How much does it cost to rent an apartment in Montenegro? (2023)

  • €375 (Euros) per month for a studio apartment
  • €500 to €700 (Euros) per month for a 1 bedroom apartment, 35 to 70 square meters
  • €650 (Euros) + per month for a 2 bedroom apartment, 65 + square meters
  • €900 to €1300 (Euros) + per month for a 3 bedroom apartment, 70 + square meters

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Image of Njegosh Mausoleum on Mount Lovcen in Montenegro

Emigrate to Montenegro in 2023 – Residence Permit and Tax Residency

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