Montenegro is the first country expected to join the EU in 2025.The low tax rate, the fast procedure for setting up a company in just 1 week, and a flexible tax system are an added advantage for all foreigners who want to open a company in Montenegro.Corporate tax in Montenegro is only 9%, representing the lowest corporate tax in Europe, but also one of the lowest corporate taxes in the world.In addition, the opening of the company gives foreigners the opportunity to apply for temporary residence in Montenegro for a period of one year with the possibility of extension.In addition, a person who owns more than 50% shares in the company and is also a director of the company in accordance with the laws of Montenegro has the right to obtain a permanent residence permit (after 5 years of regular renewal of the temporary residence and work permit and in accordance with legal regulations).An additional benefit is the possibility of obtaining a permanent residence permit for the director of the company in the case of five consecutive temporary residence permits obtained with previously fulfilled conditions stipulated by the Foreigners Law.In addition, if a family member is employed and has a temporary residence and work permit, other family members (spouse and children under the age of 17) are entitled to free health insurance at no additional cost.