Apart from representing various clients from the country, for a long time Ana Kolarevic and her law office have assisted foreign clients interested in investing in Montenegro. Those are the leading foreign investors who started investing in Montenegro more intensively after the restoration of Montenegrin independence in 2006. Most of the clients of Ana Kolarevic and her office are the foreign physical and legal persons – many of them with the status of strategic investors for Montenegro – who chose the Ana Kolarevic Law Office precisely because they wanted the best lawyer and the best team.
In the state which restored its independence relatively recently and which is faced with significant infrastructural problems and obstacles on its path to Euro-Atlantic integration, it is not easy to find highly professional legal assistance and a proper response to the problems foreign investors may encounter.
Highly professional legal assistance is exactly what the Ana Kolarevic Law Office team provides to its foreign clients, putting all its efforts into ensuring understanding between foreign investors, their business habits and expectations on one side; and the business environment, institutions of the system and constantly adapting standards and regulations on the other. The advantage of Ana Kolarevic Law Office lies precisely in the knowledge of local circumstances, the mentality of the Montenegrin people and the way that Montenegrin institutions function, as well as the mentality, business ethics and ambitions of its clients.
The unique quality of the Ana Kolarevic Law Office lies in the diversity and quality of the services it provides to its clients, as well as in the personal experience of Ana Kolarevic gained through her engagement in law practice and judiciary during several decades where she held the position of a judge in the Basic, Higher and Supreme Courts.
In such a small market as Montenegro, a narrow specialisation is almost impossible and therefore the majority of lawyers have to practice all fields of law. However, Mrs Kolarevic managed to specialise in a way, since she has never practised criminal law.
Ana Kolarevic Law Office has established a good cooperation with one of the most reputable Austrian law offices – Lansky, Ganzer & Partners. This reputable office, which has a strong presence in central and south-eastern Europe and elsewhere, has chosen Ana Kolarevic Law Office as its partner in Montenegro. In this way, Ana Kolarevic Law Office has become part of the international network of legal experts with international experience and strong knowledge of local circumstances deeply rooted in their business environments.
For its contribution in the field of law practice, Ana Kolarevic was awarded The New Economy Legal Award for Best Business Lawyer in Montenegro for 2009 and the World Finance Legal Award for Best Lawyer in Montenegro for 2010 and 2011, while her office was awarded the World Finance Legal Award for Best Corporate and Commercial Firm for 2011.
Montenegro is a Mediterranean country and future EU member, with a remarkable culture and biodiversity, a dominantly liberal concept of economy and a low profit tax rate (only nine percent) making it very attractive for foreign investments. It has always been a politically stable country, even in the period which was turbulent for the region. That is the key advantage for Montenegro when it comes to the potential for foreign investments. In spite of the fact that Montenegro is not a member of EU, the official currency used in Montenegro is the euro.
After the restoration of independence in May 2006, the Montenegrin economy experienced rapid growth and development, particularly in the field of real estate and construction. This period was characterised by significant direct foreign investment inflow, strong development of the tourism sector (particularly in terms of inflow of foreign tourists), and the start of many greenfield projects (several of which were by clients of Ana Kolarevic Law Office).
Unfortunately, unlike the positive trends that characterised 2006 and 2007, the trends were negative in 2009 and 2010 – due in part to the global recession, but local factors (poor assessments in real estate and construction, and incorrect risk assessment in the banking sector) also contributed. These were the problems and the new situation that domestic and foreign companies and entrepreneurs doing business in Montenegro had to deal with.
In spite of the negative trends, Montenegro recorded a relative growth in the field of tourism – 7.7 percent in the first 10 months of 2010 compared with 2009 – and modest growth in BDP. Most importantly, Montenegro achieved the status of EU membership candidate.
In the last couple of years a significant step forward has been made in eliminating business barriers and stimulating the development of small and medium-size enterprises, the role of which should be dominant in the Montenegrin economy. In that respect, Montenegro adopted a whole set of new laws, drafted with the support of European experts, that are aligned to European legislation and standards and aimed at encouraging entrepreneurship and eliminating bureaucratic barriers.
Another positive development is that the recession and economic crisis created the conditions for more realistic prospects and ambitions, which is a good basis for new foreign investments and long term sustainable projects.
Aspirations for an ‘overnight profit,’ too high prices, the lack of professional attitude and expertise, insufficiently quick changes in institutions and the lack of infrastructural capacity, together with the global economic crisis, contributed to the Montenegrin recession and economic crisis. And it was precisely the crisis that proved the need to face these problems and work on the process of solving them.
The significant progress that Montenegro made in strengthening its institutional capacities is reflected in the fact that Montenegro got the EU membership candidate status. Montenegrin institutions are in the process of adopting and implementing European standards to prepare Montenegro for future EU membership.
Montenegro is also in the process of NATO integration. In the NATO summit held in Lisbon in November 2010, NATO welcomed the significant progress that Montenegro made in the field of Euro-Atlantic integration and Montenegrin contribution to the safety in the region and in general, as well as the active engagement of Montenegro in the process of the Membership Action Plan (MAP), which shows determination of Montenegro to join the Alliance.
All of this creates a good ground for new investments, for strategic investors and long-term sustainable development projects.
In the time of economic crisis and recession, the role of lawyers is essential and indispensable.
Ana Kolarevic Law Office has been assisting most of its clients from the time of their first arrival to Montenegro. The office followed them and their development at the very beginning, in the period of economic boom but also in the time of the recession and gradual consolidation.
Ana Kolarevic Law Office has always had a sincere relationship with its clients. Avoiding both pessimistic attitude and exaggerated optimism, it has always provided its clients with an objective view – a precondition for high-quality decision making.
The core of the Ana Kolarevic Law Office is the rich and extensive experience of Ana Kolarevic – this makes it a natural partner of foreign investors. It is her knowledge, professional attitude, development of a full confidence-based relationship with the client, and the certainty that comes from her realistic attitude, her analytic capacities and proper assessment of all factors. With her and her team, clients are firmly on the ground when it comes to assessments. This realistic perspective ensures a positive outcome to the relationship.
Ana Kolarevic and her well organised team of young professionals, lawyers and associates work according to the principle of one-day-at-a-time on the issues that are within their field of competencies. From first greeting to final solution, Mrs Kolarevic and her team of young professionals offer clients the confidence and certainty of experience combined with the energy and tenacity of youth.
