According to data from Monstat, there were 956 foreign-owned companies operating in Montenegro in 2024.
The total turnover of these foreign subsidiaries reached €2.83 billion last year.
Foreign-owned enterprises accounted for 2.6% of all active companies in Montenegro that submitted financial reports, while their share in the country’s total gross value added stood at 14.7%.
By country of origin, Serbia had the largest number of foreign subsidiaries in Montenegro, with 190 companies, followed by Turkey with 100, the United Kingdom with 33, and Bosnia and Herzegovina with 31.
Monstat explained that the statistics on foreign affiliates describe the activities of business entities that are resident in Montenegro but controlled by foreign companies. The analysis covers companies in which foreign capital — from one or more countries — represents 50% or more of total ownership.
The main objective of this survey is to highlight the role and contribution of foreign-controlled enterprises in Montenegro’s economy and assess their overall impact on national economic activity.
