Podgorica, (MINA-BUSINESS) - The Ministry of Finance and the Tax Administration announced that an improved company registration system has been officially launched with the entry into force of amendments to the Law on Business Organizations.

In practice, this means that citizens can now register the establishment of companies faster, more easily, and with greater legal certainty than before.

“Through the enhanced work of the Central Register of Business and Other Entities (CRPS), controls of legality have been further strengthened, ensuring a more transparent, reliable, and predictable registration process,” the Ministry said in a press release. 

Clear decision-making deadlines have also been introduced: up to ten working days, or up to five days when founders are individuals, setting a high standard of administrative accountability in line with European practices. 

According to the press release, it is particularly encouraging that in practice many applications are processed much faster, within just one to two days.