Montenegro
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Currency

Euro (EUR)
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Capital

Podgorica
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Employer Taxes

8.30%
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Date Format

dd/mm/yyyy
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Fiscal Year

1 Jan – 31 Dec

Fun Facts

It is one of the world’s youngest countries, gaining independence from Serbia in 2006.

Montenegro’s national symbol is the double-headed eagle, which can be seen on its flag and coat of arms.

Montenegro’s official language is Montenegrin, though Serbian, Bosnian, Albanian, and Croatian are also widely spoken.

It is a popular filming location for Hollywood movies due to its picturesque scenery.

Montenegrins are known for their warm hospitality and strong sense of community.

Montenegro has a small but emerging wine industry, producing some noteworthy red and white wines.

Montenegro

Contributions

Employee Payroll Tax

Contribution TypeRate
Pension and Disability Insurance15.00%
Health Insurance8.50%
Unemployment Insurance0.50%

Employer Payroll Tax

Contribution TypeRate
Pension and Disability Insurance5.50%
Health Insurance2.30%
Unemployment Insurance0.50%

Payroll

Payroll Cycle

The payroll cycles is monthly.

13th Salary

There are no provisions in the law regarding 13th salaries.

Work Hours and Week

A standard full-time working week in Mongolia consists of 40 hours per week or 8 hours per day.

Overtime

Employees are allowed to work up to 10 hours of overtime per week, making the maximum total weekly working hours 50. Moreover, the average working hours, including overtime, must not exceed 48 hours per week within a four-month period for any employee.
Montenegro

Leave

Paid Time Off

Each calendar year, employees are entitled to 20 working days of annual leave.

Public Holidays

There are 9 public holidays.

Sick Days

Employees receive 70% compensation from their employer for the first 60 days of sick leave and then after from social security.

Maternity Leave

Pregnant employees are eligible to receive 98 days of paid maternity leave at their regular pay rate.

Maternity leave should commence 28 days before the expected due date, and the remaining 70 days are to be taken after childbirth. During this period, the employee will receive their regular salary as part of the maternity leave benefits.

Paternity Leave

The paternity leave entitlement is included in parental leave.

Parental Leave

After completing maternity leave, employees have the option to take parental leave for a duration of 365 days. The leave can be shared equally between both parents.

Termination

Termination Process

Under a fixed-term contract, employers do have the right to terminate the contract for various reasons, including business-related needs, personal reasons, or misconduct by the employee.

Notice Period

The typical notice period is around 30 days,

Severance Pay

Severance pay should be outlined in the employment contract or collective agreement and should not be less than three times the average monthly salary, free of taxes and contributions across the previous four months.

Probation Period

Probation Period

The probationary period is defined in the collective agreement or employment contract and must not exceed six months.

Immigration

Business visitors entering the country can do so with a short-stay C visa, which permits them to stay for up to 90 days within a 180-day period.

However, it’s important to note that the activities allowed under this visa category are not specifically regulated by law. As a result, the labor inspectorate has broad discretion in evaluating compliance, meaning that the scope of activities conducted during business visits should be limited to avoid potential issues.

For individuals intending to work in the country for an extended period, the primary work authorization category is the Temporary Residence and Work Permit.

For Work Permits

Temporary Residence and Work Permit

VAT

VAT is 21% standard rate.