Overview

Capital
Currency
Euro (€) (EUR)

Taxes

Employer
Employee

Minimum Wage

General
The minimum wage is 753 EUR per month.

Non Mandatory

Expat Benefits
Expats are entitled to purchase property in Montenegro.

VAT

General
VAT is 19% standard rate.

Mandatory Benefits

Pension Fund
The employer contributes 5.5% of the employee wages. Contributions are capped at 50,000 EUR per year.
The employee contributes 15%. Contributions are capped at 50,000 EUR per year.

Payroll

Additional Employee Withholding
1) Health Insurance
2) Unemployment
1) Employer must contribute 4.3%
2) Employer must contribute 0.5%
1) Employee must contribute 8.5%
2) Employee must contribute 0.5%

Termination

Termination Process
The employer must provide at least 30 days notice.
Advance Notice
The employee must provide the employer with 30 days notice.
Severance Pay
The severance pay is 6 months of employee’s average wages.