New rules for the extension of residence permits for Executive directors

 From October 15, 2024, the Ministry of Internal Affairs (MIA) of Montenegro has issued new rules related to the extension of residence permits for Executive Directors in companies in which they are the sole owners or have more than 51% of the capital.

In order to extend the residence of the directors, according to the new rules, it is necessary to supplement the existing documentation with new documentation. This obligation implies the collection of additional documents that will help confirm the status of the executive director and the conditions under which the company operates.

Proper collection and submission of the required documentation is crucial in order to avoid potential complications or delays in the procedure. Below we bring you a list of new documentation.

LIST OF NEW DOCUMENTATION:

• WRITTEN OFFER FROM THE EMPLOYER - stating that the salary must not be lower than 600.00€ (for primary or secondary education) or 800.00€ (for higher education).
• ORIGINAL LEASE AGREEMENT – the rental amount cannot be lower than 150.00€.
• ORIGINAL REAL ESTATE LIST – must not be older than 30 days.
• NEW CRIMINAL RECORD– must not be older than 6 months, apostilled for countries where an apostille is required, and translated by a certified court interpreter.
• HEALTH INSURANCE POLICY

If you need assistance in collecting the existing and new documentation, the Perfectum agency is here to help.

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