Overview of Montenegro

Montenegro lies in in the Balkans in the south-east of Europe. The capital is Podgorica and the country has a population of 622.000. It became its own country on June 3^rd 2006, separating from Serbia. The official language is specified as Montenegrin. Montenegro is home to 117 sunny beaches as well as the black mountains. The oldest olive tree, which is well over 2000 years old, can be found in Bar. Montenegro has a resilient mining economy that produces cooper ore, coal and bauxite.

When doing buisness in Montenegro, suits should be worn. Businessemen tend to dress smartly. English is the second language to many people so communicating should not be an issue. Montenegros are very proud of their country, their wines and their hospitality. Almost everyone smokes.

Currency of Montenegro

Euro

Health Insurance and the Social Security system of Montenegro

All Montenegro citizens are entitled to mandatory health insurance per law. Healthcare is largely funded by payroll contributions of 10.5%, paid to the Health Insurance Fund (HIF). Public healthcare is dominant in Montenegro and comprises the general medical centers and public hospitals. Private medical practices in Montenegro comprise of dental clinics, medical centers and pharmacies.

The public healthcare system in Montenegro still has a long way to go to catch up with the rest of Europe.

Employer cost of Montenegro

The cost for an employer to hire someone in Montenegro is a plus of 8.30% to the gross salary.

Salary and bonuses of Montenegro

Regular employees are paid monthly.

Commissions, incentives, and bonuses are variable and will be agreed upon directly with the employer.

Public Holidays in Montenegro

The official public holidays in Montenegro are the Statehood day and Independence Day. All other religious holidays are non-working days for the respective community.

January 1^st and 2^nd – New Years Day

January 6^th, 7^th and 8^th – Orthodox Christmas

moveable – Easter Monday

moveable in April– Pesha

May 1^st and 2^nd – Labour Day

May 21^st and 22^nd – Independence Day

July 13^th and 14^th – Statehood Day

moveable in July – End of Ramadan

moveable in September – Eid al- Adha

moveable in September – Yom Kipur

November 1^st – All Saint’s Day

December 24^th, 25^th and 26^th – Christmas

Working Hours in Montenegro

Office hours are from 9:00am to 5:00pm, Monday to Friday.

A regular work week is 40 hours.

A regular workweek cannot exceed 50 hours, with an average of 48 hours over a four month period.

Vacation in Montenegro

In Montenegro, employees are entitled to a minimum of 20 days vacation a year. If an employee works a 6 hour work week, the employee is entitled to a minimum of 24 days a year.

Sick Leave in Montenegro

When an employee falls sick in Montenegro, he/she has to provide an medical certificate within the first 3 days. Employees receive 70% of their wage from their employer in the first 60 days of their sick leave and after this receive if from social security.

Termination/Severance in Montenegro

When terminating an employee in Montenegro, the employer must have sufficient reason to do so. The notice period in such a case is at least 30 days unless the employer and employee have agreed upon something else.

Employee are generally eligible to severance pay. This must be at least 1/3 of their monthly pay for the last 6 months of employment with a minimum of 3 months of the employee’s average pay.