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Montenegro

Financial Sector Enabling Environment in Montenegro

Montenegro
Ease of doing business (rank)	51
Starting a business (rank)	58
Starting a business - Cost (% of income per capita)	1.6
Starting a business - Procedures (number)	6
Starting a business - Time (days)	10
Starting a business - Minimum capital (% of income per capita)	0
Dealing with construction permits (rank)	176
Dealing with construction permits - Cost (% of income per capita)	1169.6
Dealing with construction permits - Procedures (number)	16
Dealing with construction permits - Time (days)	267
Registering property (rank)	117
Cost (% of property value)	3.1
Procedures (number)	7
Time (days)	71
Protecting Investors (rank)	32
Getting credit (rank)	4
Trading across borders (rank)	42
Enforcing contracts (rank)	135
Enforcing Contracts - Cost (as % of claim)	25.7
Enforcing Contracts - Procedures (number)	49
Enforcing Contracts - Time (days)	545
Resolving insolvency (rank)	44

Source: World Bank Doing Business 2013 (RANK: Best=1; Worst=185)

Starting a business

Montenegro made starting a business easier by implementing a one-stop shop.

Paying taxes

Montenegro made paying taxes easier and less costly for firms by abolishing a tax, reducing the social security contribution rate and merging several returns into a single unified one.

Resolving insolvency

Montenegro passed a new bankruptcy law that introduces reorganization and liquidation proceedings, introduces time limits for these proceedings and provides for the possibility of recovery of secured creditors’ claims and settlement before completion of the entire bankruptcy procedure.

Dealing with construction permits

Montenegro made dealing with construction permits less expensive by reducing the cost of pre- and post-construction procedures.

Getting credit

Montenegro improved access to credit information by guaranteeing borrowers’ right to inspect their personal data.

Conclusion

Enforcing contracts and registering property remains difficult in Montenegro, posing an obstacle to the wider availability of credit.

The most problematic factors for doing business in Montenegro:

Poor work ethic in national labor force
Inefficient government bureaucracy
Government instability/coups
Inadequately educated workforce
Inadequate supply of infrastructure
Policy instability

Detailed PFS Montenegro High Level Financial Sector Overview Oct 2012 can be downloaded here.

Detailed PFS Regional Benchmarking Report Oct 2012 can be downloaded here.

IFTF Members from Montenegro

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