Following the entrance into force of the new Company Law back in July, the Official Gazette of Montenegro yesterday published two by-laws specifically regulating the registration procedure and the respective fees for such procedure. In that line, the following two Rulebooks have been adopted:
- “the Rulebook on determining the criteria and the fees amount for the registration of the corporate entities in Central Registry of Commercial Entities”, which prescribes the criteria for determining the amount of the registration fee for incorporation, change and deletion of companies in the Central Register of Commercial Entities and
- “the Rulebook on procedure of registration, content and the manner of keeping of the Central Registry of Commercial Entities”, which, inter alia, prescribes the registration procedure, the content of the registration application form, as well as detailed content and manner of keeping the Central Register of Commercial Entities.
It is expected that by entry into force (eight days after its publishing in the Official Gazette of Montenegro), these Rulebooks will introduce an additional legal certainty in the registration process, while the overall public hopes that the administrative difficulties which companies in Montenegro have continuously experienced will finally come to an end.