Overview

Capital

Currency Euro (€) (EUR)

Taxes

Employer

Employee

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.

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.

Minimum Wage

General The minimum wage is 753 EUR per month.

Non Mandatory

Expat Benefits Expats are entitled to purchase property in Montenegro.

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%

VAT

General VAT is 19% standard rate.