The Work Program of the Government of Montenegro for 2023 envisages the preparation of a set of draft laws that are in final phase.

With a new president and parliament – and a new Bar Association President and Management Body – the elections' results still hold the front page for lawyers in Montenegro, while the country plays to its strengths with energy, tourism, and real estate all thriving, according to Law Office Vujacic Partner Jelena Vujisic.

Montenegro is still considered a rising star in the Balkan peninsula, attracting the attention of potential investors worldwide, and that’s especially the case with the country’s real estate market.

We are honored and excited to introduce (and extend a big thank you to!) our regional Final Selection Committee of Jurors for the 2022 CEE Deals of the Year awards.

At the extraordinary session of the Parliament of Montenegro held on February 28, 2023 a set of tax acts was adopted. The Parliamentary Committee for Economy, Finance and Budget of Montenegro has given its support for introducing aforementioned acts, which will result in higher budget revenues for the state through higher taxation and the introduction and change of excise duties on certain products.

The new General Collective Agreement („GCA“) has been published at the Official Gazette of Montenegro no. 150/22 on 30, December 2022 and will be valid for period of three years from 31, December 2022 when it came into legal force.

When establishing a company in Montenegro, the new legal requirement which refers to the registration of Ultimate Beneficial Owners (UBO) should be considered. The Revenue and Customs Administration of Montenegro established the UBO Register within the Central Registry of Business Entities, in accordance with the provisions of the Law on Prevention of Money Laundering and Terrorist Financing in 2021. 

According to windeurope.org data, Montenegro was at the top of the list of European countries in terms of the percentage of energy generated by wind farms on April 17, 2022. On that day, the two Montenegrin wind farms, Mozura and Krnovo, produced 45% of Montenegro’s total electricity needs.

Energy prices have been a salient issue in CEE for the past year. Part 1 of this article covered just how high the energy prices had climbed in Bulgaria, the Czech Republic, Moldova, Montenegro, Poland, and Turkey, the impact of those prices on people, businesses, and governments, as well as the reasons why some countries fared better than others. Then Russia’s war against Ukraine changed everything, making a new energy pricing normal seem more distant than ever. In Part 2 we look at what energy experts believe could alleviate the situation and whether the war has impacted those plans.

Montenegro is a small mountainous country located in Southeastern Europe, on the Balkan Peninsula, with a coastline on the Adriatic Sea, and with a specific real estate market that offers something for everyone’s pocket.

In the past twelve months, energy prices seem to have taken a life of their own. Their continued and, at times, shocking growth has raised concerns across the region and prompted differing responses and policy changes in each country. To get a more accurate picture of recent developments, we reached out to experts in Bulgaria, the Czech Republic, Moldova, Montenegro, Poland, and Turkey and asked them about the current energy prices, their impact on local economies, the drivers behind their growth, and whether any plans were in place to address the issue.

In “Official Gazette of Montenegro” no. 145/21 and no. 146/21 on 31, December 2021, amendments of the series of laws were published, including Law on Tax Administration, Law on Personal Income Tax, Law on Corporate Income Tax, Law on Contributions for Compulsory Social Insurance, Law on Compulsory Health Insurance, Labor Law, Law on Companies.

Even with the political situation in the country being turbulent, Montenegro has a lot to look forward to, especially given the success of this year’s tourism season, according to Vujacic Law Partner Jelena Vujisic.

In “The Corner Office” we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. The question this time: “What did you most want to be when you were little?”

The Montenegrin Real Estate market hit a high in 2007 and has remained active since then.

The new Media Law in Montenegro which entered into force on July 6, 2020, will update the country’s legislation in the area.  By adopting certain media standards, it is intended to provide the country with the modern legal solutions already present in the countries of the EU.

In The Corner Office we ask Managing Partners across Central and Eastern Europe about their unique roles and responsibilities. The question this time around: ”What is your single most favorite client matter in your career?”

The development of intellectual property rights in Montenegro started when Montenegro became independent in 2006 and since the Intellectual Property Office of Montenegro – which deals with industrial property rights – started operations in 2008.