In Montenegro, there were a total of 851 branches of foreign companies last year, according to data from Monstat.
This marks an increase of 166 branches compared to 2022.
The total turnover of foreign branches in 2023 amounted to €2.57 billion.
The largest number of foreign branches is owned by citizens of Serbia, with 179 branches. They are followed by Turkish nationals with 83 branches, Bosnia and Herzegovina with 33 branches, and Slovenia and the United Kingdom, each with 32 branches.
Monstat explained that the statistics on foreign branches describe the activities of business entities that are residents of the reporting country—Montenegro—and are under the control of foreign business entities.
The analysis covers business entities in which foreign capital (from one or more countries) accounts for 50% or more of the total capital.
The main objective of this statistic is to demonstrate the participation of these business entities in the domestic economy and their impact on it.
