Komnenic & Associates has advised Sunny Estates on the acquisition of the former Hotel Galeb location in Ulcinj from the Roksped Group. 

In Montenegro, the Law on protection of personal data is still in power, and was last amended on April 3, 2017 („LPPI“).

With the war in Ukraine raging for more than six months, law firms across the region have reported increased workloads in corporate and M&A, tax, employment, immigration law, and inquiries on the sanctions regimes in relevant jurisdictions, noting that companies from Ukraine, Russia, and Belarus are variously looking for a new home. Whether to avoid sanctions or escape the war, those companies consider a variety of factors in determining where to go.

The Ministry of Ecology, Spatial Planning, and Urbanism of Montenegro („Ministry“) enacted a Rulebook on closer criteria for the assessment of requests for the issuance of urbanistic-technical conditions for the construction of facilities for the production of electricity from renewable sources of the sun and other renewable sources (“Rulebook”). The Rulebook entered into force on the day of its publication in the Official Gazette of Montenegro, i.e., on 12 October 2022.

To comply with the highest European standards and safety conditions – Law on amendments to the Law on payment transactions (“Law”) has been adopted in the Parliament of Montenegro on 29 September 2022. Free movement of capital and full compliance with the Payment Service Directive 2 (“PSD2”) were main reasons for adopting the Law which shall ensure that the provisions of payment services in Montenegro are regulated in the same way as in the member states of the European Union.

Contributed by Jovovic, Mugosa & Vukovic.

PLK Advokati has advised Montenegrin media companies Daily Press and Televizija Vijesti on the sale of a 51% stake to United Media. Schoenherr reportedly advised United Media.

On August 9, 2022, CEE Legal Matters reported that Vukovic & Partners had advised ODM Collections on obtaining a purchase of receivables work license from the Central Bank of Montenegro. CEE In-House Matters spoke with Drazen Stevanovic, CEO at ODM Collections, to learn more about the matter.

According to windeurope.org data, Montenegro was at the top of the list of European countries in terms of the percentage of energy generated by wind farms on April 17, 2022. On that day, the two Montenegrin wind farms, Mozura and Krnovo, produced 45% of Montenegro’s total electricity needs.

Fraught with institutional uncertainty and political instability, times are difficult and uncertain in Montenegro, according to Jovovic Mugosa & Vukovic law office Managing Partner Vanja Mugosa.

Montenegro does not have a foreign investment screening regime comparable to those emerging now in European Union in light of the EU FDI Screening Regulation. It operates a sector-specific authorisation system covering the defence sector.

Schoenherr, working with Pinsent Masons and Wenger Vieli, has advised Kontron on selling parts of Kontron Group’s IT services business to Vinci Energies during a competitive auction process, for approximately EUR 400 million. Reportedly, Baker McKenzie’s German office advised Vinci Energies. Loloci & Associates advised Kontron on Albanian matters.

The long-awaited legal framework defining entrance and residence permits for digital nomads – Law on amendments to the Law on Foreigners (“Law”) has been adopted in the Parliament of Montenegro and it shall enter into force on 11 August 2022.

Vukovic & Partners has advised ODM Collections on obtaining a purchase of receivables work license from the Central Bank of Montenegro.

Montenegro has reached a deadlock in appointing members of the judiciary, with cases being significantly delayed, while the government is on the verge of a vote of no confidence, according to Doklestic Repic & Gajin Attorney-at-Law Danilo Radulovic.

Srdjan Sisic has relocated to Montenegro to join One Crna Gora as its Chief Corporate Affairs Officer.

Aware of the fact that an effective system of infrastructure creates the preconditions for the normal and undisturbed functioning of the wider social system, Montenegro has made significant efforts in recent years, both in terms of the normative definition of the sector and in finding optimal mechanisms for national infrastructure. In many European countries, a public-private partnership represents the optimal mechanism for national infrastructure, which has considerable advantages and is being ever more used.

Montenegro is a popular destination these days for IT businesses seeking to relocate primarily from the countries currently at war, with its tourism and real estate sectors growing again, according to Radonjic/Associates Managing Partner Vladimir Radonjic.