Montenegro

Montenegro, a country located in Southeast Europe, is bordered by the Adriatic Sea to the southwest, Croatia to the west, Bosnia and Herzegovina to the northwest, Serbia to the northeast, and Albania to the southeast. Montenegro is divided into 23 municipalities, with Podgorica as the capital. The official language is Montenegrin, and the currency is the euro (EUR).

The use of the name Montenegro began in the 15th century when the Crnojevic dynasty began to rule the Serbian principality of Zeta. Over the subsequent centuries, Montenegro was able to maintain its independence from the Ottoman Empire. From the 16th to 19th centuries, Montenegro became a theocracy ruled by a series of bishop princes. In 1852, it was transformed into a secular principality. After World War I, Montenegro joined the Kingdom of Serbs, Croats, and Slovenes, which became the Kingdom of Yugoslavia in 1929. At the conclusion of World War II, it became a constituent republic of the Socialist Federal Republic of Yugoslavia. When Yugoslavia dissolved in 1992, Montenegro federated with Serbia. This federation ended after an election, and Montenegro formally declared its independence on 3 June 2006.

The dissolution of the political union with Serbia in 2006 led to separate membership in several international financial institutions, such as the European Bank for Reconstruction and Development. On 18 January 2007, Montenegro joined the World Bank and International Monetary Fund (IMF). Montenegro signed a Stabilization and Association agreement with the European Union (EU) in October 2007. On 17 December 2011, Montenegro joined the World Trade Organization (WTO) and on 5 June 2017 became a member of the North Atlantic Treaty Organization (NATO). Montenegro is an official EU candidate country.

Over the past two decades, Montenegro's economy has transitioned from a state-led system to a more market-oriented one, marked by the process of privatisation, the adoption of the euro in 2002 despite not being a member of the Eurozone, and significant growth in the tourism sector.

PwC Montenegro provides a full range of assurance, tax, business advisory, and legal services to local clients and international corporations present in Montenegro. We support clients with the local knowledge and skills of our people and with access to a broad range of other professionals across the PwC global network of firms.

Our teams have skills and experience in all areas of taxation, including local and international corporate taxation, indirect taxation, customs and trade regulations, expatriate taxation, human resource management, and accounting services.