""We are very keen to bring the smartest and brightest of the world to Montenegro," the 37-year-old leader said on stage at Fortune's Global Forum in Riyadh, adding that low taxes are to thank for the influx in ultra-wealthy residents. "Our tax policy is very simple. We think the people that tie their investing into Montenegro, be it investors, employees, workers, managers-whoever is invested into Montenegro's success-we give them tax benefits.""
"Montenegro boasts one of the lowest personal income tax and corporate income tax rates in Europe, with rates ranging from 9 to 15%. Residents can expect to pay nothing up to €700, 9% tax on their earnings between €701 and €1,000, and just 15% on the portion of their gross monthly salary exceeding €1,000. (One euro is worth $1.16.) By comparison, Switzerland's top personal income tax rate can reach around 40%."
Montenegro experienced a 124% increase in millionaires over the last decade and now ranks as the world's fastest-growing millionaire hub. The country applies very low personal and corporate tax rates, with personal income taxed at 0 up to €700, 9% between €701–€1,000, and 15% above €1,000. Corporate rates range from 9–15% and are slated to become the lowest in Europe. Tax benefits are targeted at investors, employees, and managers who commit to Montenegro's success. The national currency arrangement functions as a quasi gold standard, requiring real goods, services, or assets to acquire euros.
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