Cost of doing business

Minimum Monthly Wage for FULL working time (gross and net)

1. Brut Salary ( 3 + 4 + 5) 364,05€
2. Accounting Brut Salary (3 + 4) 331,34€
3. Net Salary (2-4) 222€
4. Employee contributions 109,34€
  4.1. Tax 9% 29,82€
  4.2.Pension contributions 15% 49,70€
  4.3. Health contributions 8,5% 28,16€
  4.4. Unemployment insurance 0,5% 1,66€
5. Employeer contributions 32,7€
  5.1. Pension contributions 5,5% 18,22€
  5.2. Health contributions 2,3% 7,62€
  5.3. Unemployment insurance 0,5% 1,66€
  5.4. Labor fund 0,2% 0,66€
  5.5. Chamber of commerce 0,27% 0,89€
  5.6. Fund for recreation 0,2% 0,66€
  5.7. Local tax * 10% from 4.1. 2,98€
* Local tax rates are diferent for municipalities. Budva - 10%, Podgorica and Cetinje - 15%, other cities - 13%


Accounting and Bookeeping Cost

Level of activity Basic Intermediate High
Monthly 85-100€ 150-300€ 300€ +


Cost of maintaining bank account

Bank account Account E-banking
Business 2€ / monthly 5-8€ / monthly
Personal 0€ / monthly 5-8€ / monthly


Cost of Water for Personal and Business Use

City Personal Business
Podgorica 0,38€ (1 cubic metre) 1,24€ (1 cubic metre)
Budva 0,98€ (1 cubic metre) 1,96€ (1 cubic metre)
Cetinje 0,60€ (1 cubic metre) 2,44€ (1 cubic metre)
Nikšić 0,51€ (1 cubic metre) 1,20€ (1 cubic metre)
Berane 0,22€ (1 cubic metre) 0,86€ (1 cubic metre)
Rožaje 0,20€ (1 cubic metre) 0,77€ (1 cubic metre)
Ulcinj 0,80€ (1 cubic metre) 1,75€ (1 cubic metre)
Kotor 1,03€ (1 cubic metre) 2,03€ (1 cubic metre)
Herceg Novi 0,85€ (1 cubic metre) 1,78€ (1 cubic metre)
Tivat 0,97€ (1 cubic metre) 1,94€ (1 cubic metre)
Žabljak 0,38€ (1 cubic metre) 1,56€ (1 cubic metre)
Bijelo Polje 0,36€ (1 cubic metre) 1,26€ (1 cubic metre)
Mojkovac 0,35€ (1 cubic metre) 1,25€ (1 cubic metre)
Plužine 0,24€ (1 cubic metre) 1,25€ (1 cubic metre)
Gusinje 0,23€ (1 cubic metre) 0,65€ (1 cubic metre)
Andrijevica 0,21€ (1 cubic metre) 0,41€ (1 cubic metre)
Danilovgrad 0,57€ (1 cubic metre) 1€ (1 cubic metre)
* Average monthly bill - 25€


Cost of Electric Energy for Personal and Industrial Use

Electric Energy Personal Industrial
Electric Energy 10,03€ KWh 5,36€ KWh
* Average monthly bill - 35€


Cost of Internet, Mobile, Cable TV and Land-line*

Provider Product Internet Cable TV Mobile Land line Price
Telekom MAGNETA 1 M 40/10 Mbps 105+ Chanells Unlimited calls/internet Telekom / 50 min other network Unlimited calls Telekom 30,90€ /m
Telekom MAGNETA 1 XL 200/30 Mbps 185+ Chanells Unlimited calls/internet Telekom / 500 min other network Unlimited calls Telekom 51,90€/m
MTEL BOX trio 3 120/5 Mbps 600 Chanells   Unlimited calls MTEL/2000 min - 068/200 min - other 31,99/m
MTEL BOX all 4 140/6 Mbps 600 Chanells 1000min. calls, unl. internet / 200 sms Unlimited calls MTEL/2000 min - 068 34,99/m
* For full services price and benefits please check MTEL and Telekom website