{"id":4906,"date":"2021-04-15T12:22:59","date_gmt":"2021-04-15T12:22:59","guid":{"rendered":"https:\/\/montaudit.me\/osnivanje-i-registracija-privrednih-drustava\/"},"modified":"2024-03-14T07:17:07","modified_gmt":"2024-03-14T07:17:07","slug":"establishment-and-registration-of-companies","status":"publish","type":"page","link":"https:\/\/montaudit.me\/en\/establishment-and-registration-of-companies\/","title":{"rendered":"Establishment and registration of companies"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<p style=\"text-align: justify;\">Starting a business from a legal perspective is a crucial aspect for every entrepreneur. Many subsequent questions that can significantly facilitate or complicate regular operations and increase or decrease business costs depend on the choice of legal form (structure) of the future business. These questions may seem harmless at the beginning. Over time, if not well structured and defined from the outset, they lead to a series of &#8220;unexpected&#8221; situations, legal pitfalls, and ultimately to the need to switch from one legal form, in which the business started, to another legal form that could and should have been chosen from the very beginning, thus avoiding all complications.<\/p>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;]<style type=\"text\/css\" data-type=\"the7_shortcodes-inline-css\">.shortcode-single-image-wrap.shortcode-single-image-423e018eb20e040141f093cbc8f44111.enable-bg-rollover .rollover i,\n.shortcode-single-image-wrap.shortcode-single-image-423e018eb20e040141f093cbc8f44111.enable-bg-rollover .rollover-video i {\n  background: -webkit-linear-gradient();\n  background: linear-gradient();\n}\n.shortcode-single-image-wrap.shortcode-single-image-423e018eb20e040141f093cbc8f44111 .rollover-icon {\n  font-size: 32px;\n  color: #ffffff;\n  min-width: 44px;\n  min-height: 44px;\n  line-height: 44px;\n  border-radius: 100px;\n  border-style: solid;\n  border-width: 0px;\n}\n.dt-icon-bg-on.shortcode-single-image-wrap.shortcode-single-image-423e018eb20e040141f093cbc8f44111 .rollover-icon {\n  background: rgba(255,255,255,0.3);\n  box-shadow: none;\n}\n<\/style><div class=\"shortcode-single-image-wrap shortcode-single-image-423e018eb20e040141f093cbc8f44111 alignnone  enable-bg-rollover dt-icon-bg-off\" style=\"margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px; width:900px;\"><div class=\"shortcode-single-image\"><div class=\"fancy-media-wrap  layzr-bg\" style=\"\"><img fetchpriority=\"high\" decoding=\"async\" class=\"preload-me lazy-load aspect\" src=\"data:image\/svg+xml,%3Csvg%20xmlns%3D&#39;http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg&#39;%20viewBox%3D&#39;0%200%20589%20720&#39;%2F%3E\" data-src=\"https:\/\/montaudit.me\/wp-content\/uploads\/2022\/02\/reg1-1-589x720.jpg\" data-srcset=\"https:\/\/montaudit.me\/wp-content\/uploads\/2022\/02\/reg1-1-589x720.jpg 589w\" loading=\"eager\" sizes=\"(max-width: 589px) 100vw, 589px\" width=\"589\" height=\"720\"  data-dt-location=\"https:\/\/montaudit.me\/en\/osnivanje-i-registracija-privrednih-drustava\/reg1-2\/\" style=\"--ratio: 589 \/ 720;\" alt=\"\" \/><\/div><\/div><\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<p style=\"text-align: justify;\">According to the criterion of mutual connection of members of the company, business entities can be divided into companies with personal liability and companies with capital liability.<\/p>\n<p style=\"text-align: justify;\">Registration of business entities in Montenegro is done in the Central Register of Business Entities.<\/p>\n<p>[\/vc_column_text][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<strong>There are four legal forms of business entities:<\/strong>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_hoverbox image=&#8221;4243&#8243; primary_title=&#8221;Partnership&#8221; hover_title=&#8221;&#8221;]<\/p>\n<p style=\"text-align: justify;\"><strong>Partnership<\/strong> is a multi-member company established by partners who assume unlimited joint liability for the company&#8217;s obligations and operate under a common business name. It is established for profit-making purposes. The partnership is liable with all its assets for the obligations it undertakes.<\/p>\n<p style=\"text-align: justify;\">This type of company has legal personality. Emphasis is placed on protecting the creditors of this company because a creditor does not have to seek satisfaction of their debt from the company itself, but can demand fulfillment of the debt from any of the partners. The contribution of partners in a partnership can be in cash, assets, and rights, as well as in work or services, which have been or are to be provided. A partnership is established by concluding a partnership agreement in written form.<\/p>\n<p style=\"text-align: justify;\">The registration of a partnership in the Central Registry of Business Entities is done based on a registration application along with a partnership agreement.<\/p>\n<p>[\/vc_hoverbox][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_hoverbox image=&#8221;4243&#8243; primary_title=&#8221;Limited partnership&#8221; hover_title=&#8221;&#8221;]<\/p>\n<p style=\"text-align: justify;\"><strong>A limited partnership<\/strong> is a business entity formed by two or more individuals and\/or legal entities as partners to conduct a specific business activity under a common business name. In a limited partnership, at least one partner has unlimited liability for the company&#8217;s obligations (the general partner), while at least one partner&#8217;s liability is limited to the extent of their agreed-upon contribution (the limited partner). The limited partnership is liable for its obligations with its entire assets. There is no prescribed minimum share capital for the company.<\/p>\n<p style=\"text-align: justify;\">A limited partnership is established by a founding agreement that includes the designation &#8220;limited partnership,&#8221; identifies the general partners and limited partners, and specifies the type and amount of contribution of each limited partner to the partnership. Limited partners cannot independently dispose of their interests in the partnership or transfer them to third parties without the consent of all partners.<\/p>\n<p>[\/vc_hoverbox][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_hoverbox image=&#8221;4243&#8243; primary_title=&#8221;Joint-stock companies&#8221; hover_title=&#8221;&#8221;]<\/p>\n<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-xkdii-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-xkdii-1n7m0yu\">\n<div class=\"flex flex-col text-sm pb-9\">\n<div class=\"w-full text-token-text-primary\" data-testid=\"conversation-turn-89\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem] group final-completion\">\n<div class=\"relative flex w-full flex-col agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"7afba21e-4dca-4438-b4d0-28f4090235d0\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p style=\"text-align: justify;\"><strong>A joint-stock company<\/strong> is established by one or more individuals, shareholders, and its basic capital is divided into shares. The shareholders founding the company sign the founding act and the initial statute of the company. The founding act of a joint-stock company is not subject to change. The statute governs the management of the company and other matters in accordance with the Law.<\/p>\n<p style=\"text-align: justify;\">The statute and its amendments and supplements are adopted by the assembly by a simple majority of votes of all shareholders entitled to vote, unless a larger majority is provided for by the statute.<\/p>\n<p style=\"text-align: justify;\">This form of organization has numerous advantages in terms of initial financing of the company because it allows a significant amount of capital to be raised from a larger number of smaller investments. Shareholders, based on their share in the company&#8217;s capital, have three groups of rights: \u2022 the right to dividends (a portion of the profits paid to shareholders) \u2022 the right to participate in decision-making (relating to the election of the company&#8217;s management) \u2022 the right to a share of the liquidation proceeds in the event of the company&#8217;s liquidation<\/p>\n<p style=\"text-align: justify;\">Shareholders are not liable with their entire assets for the company&#8217;s obligations and debts, but only with the capital invested in the company. Another advantage is the professional management that typically oversees the joint-stock company and is accountable to the shareholders, achieving a separation of management from ownership.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_hoverbox][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_hoverbox image=&#8221;4243&#8243; primary_title=&#8221;Limited liability company (LLC)&#8221; hover_title=&#8221;&#8221;]<\/p>\n<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-xkdii-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-xkdii-1n7m0yu\">\n<div class=\"flex flex-col text-sm pb-9\">\n<div class=\"w-full text-token-text-primary\" data-testid=\"conversation-turn-93\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem] group final-completion\">\n<div class=\"relative flex w-full flex-col agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"a5485262-7e0b-46da-86e0-b0a285e0998d\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p style=\"text-align: justify;\"><strong>A limited liability company (LLC)<\/strong> is a business entity formed by one or more legal or natural persons contributing monetary or non-monetary assets to conduct activities under a common name, with its capital divided into shares that do not have the characteristics of securities.<\/p>\n<p style=\"text-align: justify;\">The company may have up to 30 members.<\/p>\n<p style=\"text-align: justify;\">The company is established based on an agreement concluded by the founders.<\/p>\n<p style=\"text-align: justify;\">If the company is founded by one founder, the founding document is the decision of the sole founder to establish the company. Representatives of the founder(s) in the establishment process must have powers of attorney certified in accordance with the law. The main advantage of this form of business organization worldwide is that it requires less capital for registration, and the legislation governing these companies is far less imperative than that of joint-stock companies.<\/p>\n<p style=\"text-align: justify;\">A limited liability company is a flexible entity in terms of management.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>[\/vc_hoverbox][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][vc_column_text]<strong>Business activities can also be carried out by:<\/strong>[\/vc_column_text][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column][vc_hoverbox image=&#8221;4243&#8243; primary_title=&#8221;ENTREPRENEUR&#8221; hover_title=&#8221;&#8221;]<\/p>\n<p style=\"text-align: justify;\">An entrepreneur is an individual who engages in economic activities independently, without working for another entity. Entrepreneurs are focused on initiating and organizing the operations of a business, with the goal of creating new markets and generating profits. The scope of entrepreneurship encompasses various types of business activities. It fosters creativity and the generation of ideas. Entrepreneurs create their own jobs, work activities, and business ventures. From craftsmen and artisans to CEOs of large multinational corporations, entrepreneurs come from diverse backgrounds. What matters most is having an original idea, the necessary knowledge, and the energy to pursue their business dreams.<\/p>\n<p>[\/vc_hoverbox][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][vc_column_text]<\/p>\n<p style=\"text-align: justify;\"><strong>If you are considering starting a company, please contact our team of experts so that we can provide you with a suitable offer to assist you in achieving that goal.<\/strong><\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text] Starting a business from a legal perspective is a crucial aspect for every entrepreneur. Many subsequent questions that can significantly facilitate or complicate regular operations and increase or decrease business costs depend on the choice of legal form (structure) of the future business. These questions may seem harmless at the beginning. Over time,&hellip;<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-4906","page","type-page","status-publish","hentry","description-off"],"_links":{"self":[{"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/pages\/4906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/comments?post=4906"}],"version-history":[{"count":5,"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/pages\/4906\/revisions"}],"predecessor-version":[{"id":5274,"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/pages\/4906\/revisions\/5274"}],"wp:attachment":[{"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/media?parent=4906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}