So, I’ll share a few small tricks on how to save a couple of hundred euros each month.
Trick 1: Pay less in taxes
The amount of taxes paid by a company founder on their salary depends on the employment rate they are registered under. Montenegrin law allows a minimum monthly workload of 10 hours (0.25 rate). However, tax inspectors in most regions of Montenegro prohibit foreigners from being registered under such a low rate, which means foreigners living in those regions are forced to overpay taxes.
In Herceg Novi, foreigners can work at a 0.25 rate and pay only €35 in taxes per month.
Trick 2: Buy groceries cheaply
This option may not be very convenient, but it’s perfect for those who really want to spend as little money as possible. If you live in Herceg Novi, you can go shopping in Bosnia (only a 30-minute drive to the border, and no visa is required). If you live in other regions of Montenegro, regular trips to Bosnia may not be worth it due to the distance.
So, why is Bosnia interesting? Mainly because it is a less developed country compared to Montenegro, with very few tourists, and therefore lower prices. Specifically, groceries are much cheaper than in Montenegro—many items cost half as much.
So, if you’re really looking to save money, why not go to Trebinje regularly? Let’s say, every couple of weeks. I can’t say exactly how much you’ll save, but I think a family of three could easily save €100 or more per month.
Trick 3: Property rental prices
Rental prices vary greatly depending on the region. The highest rents are in Kotor, Budva, and Tivat. The lowest rents are in Herceg Novi.
