It is planned that in December, possibly in January, we obtain the necessary permission to start work, which according to the established schedule may follow in the spring. At the same time will work out on a capital project, whose finalization is expected in April, so we have all the necessary documentation before the season, Durutovic said in an interview for “Vijesti” adding that the rough work on the hotel could be finished a year and a half since the adoption of a complete planning documents.

In any case, according to the established schedule, the hotel will be completed by the end of 2014. year, “said Durutovic.
The hotel will have about 150 beds in 114 rooms, counting the one in five residential villas. In the area of 26,000 square meters, tourists will have to offer restaurants, conference halls, swimming pools, casino, fitness center and all that implies additional contents for a hotel of five stars.
Durutovic stressed that use of natural resources for heating and cooling on the principle of exchange with the sea water temperature, while the electricity will be produced  by photovoltaic cells. He announced that the hotel will employ 180 workers, mostly from Ulcinj.
“Ninety percent of employees will be from Ulcinj,” he said.

“Star of Montenegro” is a daughter company of “Montenegro 2000″, which has a German-Montenegrin capital.
Executive Director of the company is Novak’s brother Branislav who has 42 years working in Germany and whose share  is 95 percent. The remaining five percent are owned by the Public Enterprise for the management of the marine resource of Montenegro , which issued Durutovic  lease of land in attractive locations.

montenegroulcinj.com

The tax system:

Income tax 15 – 23 % (in 2009: 12 %, in 2010: 9 %)

9 % company tax

No profit tax or of inheritance tax.

Tax of purchase on a 3 % immovable property