“Unexpected Insights: Foreign Companies from These Nations Expand Business in Montenegro – What About Serbia?”
EPA / Saša Stanković
Last year, Montenegro registered a total of 851 branches of foreign enterprises. Were the following figures surprising or anticipated? Specifically, the majority of foreign-owned companies are held by citizens of Serbia and Turkey, with a combined turnover exceeding 2.5 billion euros, as indicated by the Statistical Directorate (MONSTAT).
As per the same report, 24.3 percent of business entities are foreign-owned from European Union member states, while 75.7 percent are from non-EU countries.
MONSTAT reported that the 179 branches owned by Serbian citizens generated a turnover of approximately 718 million euros last year.
Following Serbia, the second highest number of branches belonged to Turkish citizens, totaling 58, with these companies achieving nearly 100 million euros in turnover, as reported by the RTCG portal.
In terms of companies, those from Bosnia and Herzegovina (33), Great Britain (32), Cyprus (25), and Croatia (22) also contributed.
When analyzed by country, the branches from capitalized firms accounted for 25.4 percent of the realized traffic, while their share of the total number of business entities stood at 21 percent.