Foreign and domestic investors equal in Montenegro - companies, with foreign owners can register their ownership

Montenegro Government has adopted on July, 24th, changes in the Regulation, which allowed companies with foreign owners in Montenegro, to register bought land without any problems.

These changes would allow foreign investor to be treated as domestic one, stated Minister of finances, Igor Luksic, after Government's assembly.

Foreign investor, whose company is doing business in Montenegro, is a tax resident, as he gains profit and pays taxes, pointed out Luksic.

With adopted changes in the Regulation, treatment problems are solved, as there was absurd situation in which tax residents of Montenegro could be treated as foreigners.

- Foreign investors, according to existing property laws, and foreign investment and corporate entities laws, will get national treatment. In this way, it will be defined by the new proposal of the law about property legal relations, which is in the Parliament procedure, explained Luksic.

He also pointed out that changed regulation stops possible manipulations, like introduction of bankruptcy in order to transfer property from the company to the owner, as foreigners can not register land on their name, until the new law about property legal relations would be adopted.