In Montenegro today there are 31,814 companies, owned by foreign citizens, and their total revenue in 2024 amounted to almost 199 million euros, the Tax Administration said. According to economic analyst Vasilije Kostić, the growth in the number of such companies is a natural consequence of the increase in the number of foreigners living in Montenegro, and he describes this trend as positive for the national economy.
“These citizens are probably employed in their own companies, and thus do not create pressure on Montenegro’s overall macroeconomic indicators or on budget expenditures. In any case, when the number of enterprises grows, gross domestic product potentially grows as well. In addition, regions that become centers of business activity gain additional appeal in the eyes of investors. The macroeconomic effect of such processes is quite significant. Of course, it is assumed that business is conducted lawfully,” Kostić said in an interview with RTV Podgorica.
The expert emphasized, that the state should use incentive or restrictive measures to direct the development of foreign businesses into those sectors that are most important for the long-term growth of the Montenegrin economy.
“In any case — both from a cultural and social point of view — it is very important that our environment be enriched by the presence of foreigners. If you look at it from a business perspective, every new group of people arriving from other countries brings new cultural, sociological and entrepreneurial habits, from which the local population also benefits,” Kostić noted.
The largest number of foreign companies is registered by Turkish citizens
According to official statistics, the largest number of foreign enterprises is registered by citizens of Turkey — 9,818 enterprises (33%). In second place is Russia