Over the past two years, Montenegro has shown consistently strong interest from foreign investors. The increase in the number of foreign companies registered in the country is especially noticeable: according to data from the national statistical officeMonstat, the number of such enterprises has been growing every year.
This is due to a range of factors — from liberal registration policies and tax conditions to the country’s attractive geographic location in the Balkans.
Main regions attracting foreign investors
The largest number of foreign companies is traditionally registered in the central and coastal municipalities.Podgorica, as the administrative and business center, logically attracts the majority of businesses, especially those operating in IT, consulting, and logistics. There are 9,952 companies registered here.
Budva(9,114) andBar(3,582) remain priorities for investors in real estate, tourism, and the hospitality sector. Coastal cities are especially popular with companies connected to resort business, the construction of residential and hotel complexes, as well as entrepreneurs focused on serving tourists.
Where the investments come from
Montenegro’s economy continues to attract steady interest from investors from Russia, Turkey, and Serbia. These countries consistently rank among the top three in terms of the number of registered enterprises. The reasons vary: cultural and linguistic proximity, existing business ties, the ability to open companies with minimal administrative barriers, and favorable tax conditions.
There is also growing interest from European Union countries, including Germany, Italy, and Austria, especially in the energy and telecommunications sectors.
- Turkey leads in the number of companies— 9,818 firms, accounting for about32.8%of all foreign enterprises.