We are members of IRRCG, which means we have not only foreign but also Montenegro-recognized accounting education — a rarity among foreign accountants here. Most of our colleagues, under the slogan “accounting is the same all over the world,” don’t bother to get any formal education. We also have experience working as accountants, auditors, and inspectors and have been involved in accounting-related activities since the 1990s.
Our Key Features
- We answer all questions within 1 day. If you already live in Montenegro, you may have noticed not all accountants work like this.
- We are among the few accountants who provide detailed instructions on all important matters without waiting for a crowd of clients to ask the same questions. For example, in 2023 when Montenegro changed the rules for residence permit renewal, I was the first to send detailed instructions to my clients on what to do. And when in 2024 the obligation to register in the beneficial owners’ register appeared, I was not only the first but apparently the only one who gave clients instructions on what to do. Many clients from other firms contact me, asking for paid information because no one informs them there. This is critical because failure to register leads to huge fines. For those served by other accountants, write in the comments—did anyone give you such instructions?)))
- With us, you pay not only for report submission, as in other agencies, but also for detailed and timely information about important events.
- We are one of the few Russian agencies whose employees have Montenegro-recognized education and therefore know local laws, with a requirement for regular retraining to stay updated on all changes.
With us, it is reliable.
How to Switch to Our Services
Today, I want to answer common questions often asked when switching to us from other accountants.
1. How to switch to your services?
Very simple. You tell your current accountant you are leaving, get your documents, and bring them to us. Then we notarize a power of attorney that authorizes us to represent you at the tax office.
2. We were thinking about issuing 1-2 invoices a month to cover the director’s salary expenses. If we switch to you and start this nominal activity with 1-2 invoices per month, how will this differ from keeping zero accounting?
The cost of accounting in Montenegro depends on the workload. If a company starts working, the workload increases, so does the cost. But issuing 1-2 invoices a month does not significantly increase work, so the cost increase will be small.
What changes in your company’s accounting is the increased workload for posting “additional” invoices and bank statements. Also, if the company’s turnover exceeds 30,000 euros—which can happen even with a small number of transactions—you will need to submit a monthly VAT report. If the company becomes a VAT payer, you will need to change the posting of some operations to account for incoming and outgoing VAT.
Working companies may also have purchases of fixed assets (phone, car, etc.) and business trip expenses, but with the volume you declared, such operations are likely few.
In principle, that is all. There will be no other changes in your service company. Judging by the number of transactions (1-2 per month), you clearly provide services.
3. Are there any additional reports you will submit monthly or yearly?
As mentioned, a VAT report may be added if your annual revenue exceeds 30,000 euros. There will be no other new reports. The amount of primary documentation will increase but not much.
4. How much will this cost?
Our service cost in operating companies depends on workload, starting from 100 euros per month. For service companies (programming, design, etc.) costs usually don’t exceed this limit, as these firms typically don’t have excessive work.
For inactive companies, the cost is 75 euros.
5. What fines are there for violating accounting rules?
I never cared much about this question because I believe this information is useless. You should aim not to violate rules, not think about what can or cannot be violated.
But briefly, fines in Montenegro are significant and often disproportionate to the violation committed.
