Montenegro Ship Registration
Montenegro offers a favorable maritime environment, and its strategic location makes it an attractive option for ship owners.
Registering a ship under the Montenegro flag provides benefits such as: (a) competitive registration fees and tonnage taxes, (b) a favorable regulatory framework, and (c) no restrictions on ship ownership or crew nationality. Montenegro is currently on the Grey List of the Paris MoU, indicating moderate safety and compliance standards.
Facts & Info about: Montenegro Ship Registration
- Ownership: Ships must be owned by Montenegrin citizens or companies.
- Company Formation: The owning company must be registered in Montenegro, typically as a limited liability company (d.o.o.).
- Directorship: Must comply with local corporate governance requirements.
- Resident Agent: Not explicitly required.
- Office Address: The company must have a registered office in Montenegro.
- Annual Maintenance: Annual tonnage tax and maintenance fees must be paid.
- Inspections: Regular safety and compliance inspections as mandated by the Maritime Safety Department.
- Financial Statements: Submission of annual financial statements and other regulatory documents.
- Tonnage Tax System: Montenegro has a tonnage tax regime.
- Income Exemptions: Income from the operation of Montenegrin-registered vessels can be tax-exempt under certain conditions.
- Capital Gains: No capital gains tax on the sale or transfer of a Montenegrin-registered vessel or the shares of a shipping company.
- Registration Process: The registration process can take a few weeks depending on documentation and compliance with Montenegrin maritime laws.
- Montenegrin Maritime Law: Governs the registration, sales, and mortgages of ships.
- Tonnage Tax Law: Regulates the taxation system based on tonnage.
- Flag State Control: Montenegro maintains high standards of safety, security, and environmental protection.
- Reputation: Montenegro is not on the Paris and Tokyo MoUs.
- Support Services: Comprehensive maritime services including ship management and legal support.
- Strategic Location: Key location in the Adriatic Sea.