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In Montenegro, it is not possible to open any corporate bank account for companies registered in Montenegro if the founder of such company is a legal entity / company from an offshore destination as it is for example British Virgin Islands etc.
The Government of Montenegro, at the session of February 7, 2019, passed Decision about The Privatization Plan for 2019 which is published in the Official Gazette No. 013/19 of 01, March 2019 and it came into force on 9, April of the same year.
Law Office Vujacic has advised Atlas Invest on the sale of "The Old Post" building in Budva, Montenegro, to an unnamed private individual, for EUR 3.2 million.
The development of intellectual property rights in Montenegro started when Montenegro became independent in 2006 and since the Intellectual Property Office of Montenegro – which deals with industrial property rights – started operations in 2008.
As a developing country and a candidate state for the EU and NATO, Montenegro has done a great deal to establish an effective legal and institutional framework in many areas.
Recent research shows that Montenegro has a high hydro-energy potential with a noteworthy index of cost-effectiveness of investments and favorable ecological and social environments. The estimated theoretical hydro potential on the main water courses totals 9,846 GWh/year. Out of this capacity, less than 1,800 GWh, or only 17%, has been harnessed so far.
Montenegro is located in the Western Balkans, with a population of only just over 600,000. Once it was part of former Yugoslavia and today it is a country that has independently done a lot on its European integration path.
The Vujacic law office has advised in the due diligence of the EBRD and KFW Ipex-Bank in connection with a project financing of a wind farm in Krnovo, Montenegro, as well as assisting in the drafting and negotiation of security documents. The Krnovo wind firm is operated by Akuo Energy, and is the first wholly private wind farm in the country. The firm reports a deal value of EUR 98 million.
Montenegro has a small and highly open economic system, and is a stable environment worth investing in, as well as being a globally-recognized tourist and travel destination with high potential for further development.
Law office Vujacic was founded in 1971, and in that time it was one of the first law firms in Montenegro. Today it is a modern business law firm with a long and proud tradition of supporting clients by high quality legal services in all areas of corporative, civil and commercial law.
Our team of lawyers has shown a great success in areas such as: Mergers & Acquisitions, Telecommunications/Media, Intellectual Property, Administrative Law, Corporate Law, Finance Law, Competition Law, Real Estate, Dispute Resolution, Employment, Tax issues etc.
As local counsel we have wide experience in all aspects of private and public corporate acquisitions and privatization. Our activities range from conducting due diligence reports, negotiations, preparing security documents and legal opinions.
The guiding principles of our Office are quality, confidentiality, efficient, timely, and cost effective services. We provide efficient legal representation to our clients both on regional and international levels.
Our work is based on commitment for providing comprehensive, effective legal advice to domestic and international clients operating in Montenegro. Also we try to find innovative solutions covering a variety of law and business experience.
Firm's website: http://www.lawoffice-vujacic.com/