Montenegro Improves World Bank Business Ranking

Its position improved from 66th place last year to 56 this year and jumped to position 8 from position 32 among 183 nations in the category of Getting Credit for businesses.  This puts Montenegro on par with leading nations such as Singapore and South Korea.

The Montenegrin government also improved by 21 places to position 108 in terms of Paying Taxes.  The country’s legal framework requires 372 hours for a business to pay Montenegrin taxes, as compared to an OECD average of 186 hours.  This is largely because a Montenegrin business is required to make 42 tax payments per year, as compared to an OECD average of only 13 payments per year.

The country moved up a further eight places to position 108 for Registering Property. It takes an average of 71 days to register property in Montenegro, compared with an OECD average of 31.

With regard to starting a new business, Montenegro improved 4 places to 47 for Starting a Business.  Six procedures and approximately ten days are needed to start a business in Montenegro.  In comparison, a business can be started in New Zealand with one procedure in one day.