Lawyers in Montenegro are talking about the Montenegro Economic Citizenship Program these days, says Vukmirovic Misic Managing Partner Lana Vukmirovic.
Vukmirovic says that the demand for economic citizenship in Montenegro is growing – “the country is becoming particularly attractive for investors from Asia and Middle East," she says – and the program is expected to offer “respectable projects and programs to kick off with the first applicants by the end of the year.”
Vukmirovic says that Montenegro is awaiting a new Company Law and a new Labor Law – both representing significant improvements over previous regimes. Several attempts have been made to adopt similar laws in the past, but the drafting process was extended following feedback and comment from labor unions, employers’ associations, and other corporate players.
Vukmirovic explains that “our current Company law is not as detailed as it should be,” and that, under the new law, “some things will be better regulated and [it] will have some impact on the economy.” She also expects positive things from the Labor Law, reflecting “explicit discussions” about a statute of limitations for employee claims and increased protections for workers, specifically employees hired through agencies and employees on maternity leave. Ultimately, she says, the new Labor Law will bring “more detailed regulation for the employers and a greater level of certainty for the employees.”
