Although most of them are still considered tourists by the state, according to some estimates, over 100,000 foreigners who have become residents, with permanent or temporary residence, live in Montenegro, most of whom are Russian citizens, followed by Turks, Ukrainians and others.
The fact is that they are not tourists, and this is shown by the huge number of companies they have registered, as well as the fact that more than six and a half thousand of their children are enrolled in our schools and kindergartens this school year.
There are no exact data yet on how many foreign-owned companies there are now. Monstat will publish them next year, that is, the population census should bring accurate information, but it is assumed that their number is close to 40,000.
This figure is arrived at by comparing the number of foreigners and their companies from previous years.
Last year, there were 18,400 foreign-owned companies in Montenegro, which is 25.4% more than in 2021, according to Monstat data.
“The largest number of active business entities in foreign ownership according to the owner’s country of origin is from Turkey, five thousand or 27.2%, Russia 4.38 thousand or 23.8%, Serbia 2.14 thousand or 11.6% and Ukraine 874 , or 4.7%”, they state in Monstat.
Given that the number of foreigners in Montenegro is growing by 30% from year to year, it is clear that there are now over 100,000 of them.
Since there is no precise data, an informal calculation of the benefits for the state budget is arrived at by simply calculating the minimum costs.
A registered LLC with only one foreigner who has the function of executive director, which is only alive and has no turnover, and exists because of, for example, obtaining a temporary residence must pay the state 2,200 EUR. This includes accounting services, taxes and contributions, medical examinations, insurance…
It should be added that there are almost 40,000 families of foreigners in Montenegro, with an average of three members. If those families spend 1,000 EUR per month (and the cost is certainly much higher), that is an annual turnover of almost half a billion euros. The state will collect over eight million euros per month or around 100 million per year from VAT alone.
Economic analyst Davor Dokić says that, at this moment, foreigners are worth their weight in gold and that we need to do something to improve their status.
“Although we follow the foreign policy of the European Union, we have taken several steps that are very harmful to us. One of those is the freezing of assets of Russian citizens, and such a law can then, in the future, be applied to all foreigners, depending on the political situation. We are sending a very bad message to foreigners, that their assets may be frozen at some point, if politics dictates it. That must have discouraged many”, says Dokić for Dan.
He points out that Ukrainian citizens are in a much better position than other foreigners in Montenegro.
“In order to start working or living here, they only need a passport. The others have to constantly deal with “paperwork”, which is not small – points out Dokić.
On the other hand, while foreigners fill our budget, we try to take as much money as possible, as if it is all temporary and will disappear quickly.
“We have no infrastructure, our schools have become cramped. In Budva, we have 4,550 students, one elementary school works in three shifts. Prices in stores and especially real estate prices are skyrocketing. Now we see it as a negative effect, instead of using this filling of the budget”, says Dokić.
Montenegro business destination. Don’t go there, live there.
