Top Business Montenegro evaluates all companies registered in Montenegro (LPs, GPs, LLCs, and JSCs) that operate on market principles, excluding those in the financial sector.

To be included in the analysis, a company must meet the following criteria:

Minimum three submitted annual financial statements (except for newly established companies on the special list);

At least three employees (industry-specific exceptions apply);

Capital of at least EUR 100,000, with exceptions:

• Micro companies: minimum EUR 50,000
• Industry-specific reviews: minimum EUR 10,000

Accurate financial statement submitted for the previous fiscal year;

BIC score up to C11 – Lower Medium Risk;

Operates profitably, or with a loss not exceeding 10% of capital, while maintaining a positive EBITDA;

They were not subject to a payment blockade for more than one day during the previous business year;

Not listed on the Tax and Customs Administration's blacklist in the past 12 months;

Shows stable and consistent business performance, in line with its core activity, not based on one-time or irregular events;

Employment agencies are excluded from the ranking of the largest employers;

Excluded sectors:

• 2540 – Production of weapons and ammunition
• 9200 – Gambling and betting (including indirectly related entities)