A deadline for the continuance of the registration of joint stock companies, limited liability companies and limited partnership is approaching!

Central Registry of Commercial Court (CRCC)

invites joint stock companies (JSC), limited liability companies (LLC) and limited partnerships (LP) to continue their registrations. Pursuant to article 86, paragraphs 8, 9 and 11 and article 87, paragraph 5, point 4 and with respect to article 2 paragraph 2 and article 95 of the Law on Business Organizations (“Official Gazette of the Republic of Montenegro”, No. 06/02), the Central Registry of the Commercial Court informs joint stock companies, limited liability companies and limited partnerships on the following:

• Registration of joint stock companies, limited liability companies and limited partnerships will expire at midnight of the 365th day as of the day of the last registration.
• Notice of continuance should be sent to the Central Registry of the Commercial Court in Podgorica directly or by registered mail for the continuance of the registration on the Form 8 for partnerships, and on the Form 9 for limited liability companies and joint stock companies.
• A fee in the amount of EUR 1 for the continuance of registration should be paid to gyro account 832-1172-76.

Legal consequences of failing to continue the registration are:

• Any person or group of persons carrying on a business which has been in operation for more than one month claiming to have limited liability without validly registering as a joint-stock company, limited liability company, or limited partnership shall be fined an amount not to exceed 1,000 Euros.
• Any joint stock company, limited liability company or limited partnership that fails to register a Notice of Continuance as required under this law shall be fined an amount not to exceed 1,000 Euros.
• For any limited partnership that fails to submit information required in Article 13 paragraph 1 of this law, each of the general partners shall be liable to pay a fine not exceeding 1,000 Euros.
• Registrar will delete from the Central Register of the Commercial Court an organization (JSC, LLC and LP), which has not continued registration for period longer than 14 months as of the day of the expiry of the previous registration, and it will issue information about that.
• Natural and legal persons that are engaged in business activity and did not continue the registration shall be liable for all obligations of the organization to the full extent of their assets.

Information on continuance of the registration for business organizations can be obtained vie phone: 081 242 626, and on the web site of the Central Registry of the Commercial Court.