To qualify for the Montenegro Citizenship-by-Investment Program, the main applicant must be over 18 years of age, meet the application requirements, and make the qualifying contributions to the Government of Montenegro. But what we will say is this: Montenegro is an ideal location with pristine nature and a balmy climate. Malta and Cyprus will both set you back considerably more. E-2 Visa Eligible. Before we explain why Montenegro is a great proposition, are you one of those people who would first have to ask: “Where is Montenegro?”. Up until very recently, the world had no idea Montenegro existed. Phones: One could argue that the real estate available to CBI investors in Montenegro is overpriced, and it is. It also has the sex appeal as a tourist destination; one of the world’s most luxurious yachting marinas is located there, called Porto Montenegro. Montenegro Hotel Investment | Citizenship by Investment. You aren’t required to visit Montenegro or live in Montenegro to obtain your citizenship. Currently, about, Invest or set up companies and employ locals, Donate to development funds (in some jurisdictions), For example, Montenegro would never get away with selling their passport for a couple of million euros like, Up until very recently, the world had no idea Montenegro existed. This is a great second passport to have.”. The processing time takes around 6 months. Government of Montenegro announced the launch of its citizenship by investment programme in summer 2018 as a second attempt to offer foreign nationals its passport in return for their contribution to the country’s development. Montenegro has everything from stunning beaches to forests to ski resorts. Utilize Montenegro’s infrastructure to do business throughout Europe. Montenegro is also a leading candidate for EU accession and it has been working hard to integrate EU legislation into its national law too. As with all post-Soviet countries, Montenegro suffers from corruption. But knowing that EU membership is basically imminent, Montenegro has gone for a hybrid CBI program which requires you to make two contributions: 2. Fully pay for the investment and the government fees, and make the donation. First, make sure you’re eligible to apply: If you’re eligible to apply for a Montenegrin passport, you’ll be glad to know that it will take 3-6 months to get approved. . www.citizenship-program.com/montenegro It has slowly been fulfilling the criteria that were set out by Brussels, so the general consensus is that Montenegro will be admitted to the union. Starting in January 2019, the Montenegrin government launched a citizenship-by-investment program (CIP). In order to get a better impression of Montenegro, we would like to show you some impressions of this wonderful country. 6. Visa-free travel to 124 countries, including the … The Montenegro Citizenship-by-Investment Program was launched by the Government of Montenegro as part of its ongoing efforts to attract foreign direct investment and increase economic activity in the country. The highly anticipated Montenegro Citizenship By Investment Program (Montenegro CBI) now affords third country nationals the opportunity to acquire a second passport in 3 months, with investments from only €250,000. No CBI program in the world comes without its cons and here are Montenegro’s main pain points. Travel to Montenegro to take a citizenship oath and provide your biometric data. The rules differ per country, but essentially, it’s like buying a passport. ⤅ How Does the Montenegro CBI Program Compare? Montenegro’s residence by investment. However, that’s always the case with government-approved lists of projects that foreigners are allowed to take part in. Welcome to the page for getting another citizen of GCI where you will meet experts in the area of ââobtaining another citizenship. Plus, Montenegro is well-connected to the rest of Europe. The good news is that despite its difficult past, Montenegro is now one of the fastest growing economies on the Balkan peninsula. The tasks you have completed with this citizenship by investment program is very important, thank you! 3. Let’s be honest here. The investment element ranges from €250,000 in the northern and central region to €450,000 in the coastal region. This makes the country a bit more expensive than neighboring Serbia, for example, but it also improves its economic stability. The currency is the euro. Montenegro is a Balkan Country, located in the west-central Balkans, at the southern end of the Dinaric Alps. Let’s talk about the donation first. What matters is that they are financially dependent on you. A couple investing in the luxurious coastal area will have to shell out €575,000. 2. As with every CBI program where the government runs a pre-approved list of real estate properties that you can invest in, real estate is overpriced. Purchase government-approved real estate worth €250,000 in northern Montenegro or €450,000 in southern Montenegro, and hold for 5 years. 15 000 EUR for single Government Application fee plus each member 10 000 EUR up to 4 members, each member more is an additional 50 000 EUR. And if you’re interested in doing business there, the strategic location, sea access, and pristine nature make Montenegro a great choice for a variety of industries. Supposedly, it’s done to ensure real estate deals are legal and transparent, but it’s also an artificial way to inflate prices and charge foreigners a premium. Processing time and costs will vary depending on a number of factors. 85310 Budva, Montenegro Our outstanding team of professional consultants has been carefully selected and works towards our company ethos: The Montenegro citizenship by investment scheme is quite popular among EU citizens as it does not require them to live here before or after being granted a Montenegro passport. The Montenegro Citizenship by Investment Program will be limited to only 2,000 applicants over a three-year period. Gaining second citizenship has never been so easy, GCI did an excellent job! The method takes into account a whopping 31 decision factors that are of importance to potential applicants. Jovana is our lead R&D Associate at Nomad Capitalist. Montenegro Citizenship Costs. But more so than to the government, a CBI program has to be designed and priced just right to make sense for a western high-net-worth individual to engage with. And that’s not to mention that about a third of all foreign companies in Montenegro are owned by Russian citizens too. The VAT is 19%. Montenegro is not a member of the EU yet, but it’s predicted to join by, Even though plenty of Nomad Capitalists have been lured to vacation in Montenegro and revel in its luxuriousness – including Andrew, who has a vacation home there – not many have realized that it also presents some, Before we get to the nitty gritty of Montenegro’s CBI program, we want to get you up to speed with, Countries that lack foreign investment, are overly reliant on one or two industries, or simply have no other way to give their citizens a better life, are typically the ones to launch these programs. In recent years, more and more high-net-worth individuals have taken the plunge to obtain citizenship by investment and we expect to see the trend continue to grow. ENTRY CRITERIA €100,000 donation 1. Energy and agriculture sectors play a significant role in Montenegro’s economy, but it is tourism that accounts for nearly a third of the country’s GDP. The new economic citizenship scheme announcement for foreign investors happened on Oct 1, 2018. For example, over the last decade, investment from Russia came to about a third of Montenegro’s GDP. Montenegro citizenship by investment: Program overview Migronis Citizenship More than 20 programs of citizenship and residence for investments If your Montenegrin passport application is approved, the government will not pass any personal information to the country of your first citizenship. To diminish the reliance on tourism, the government has realized that it pays to be foreign capital friendly and has tried to steer a direct course for political and economic stability. First, the total investment required is one of the lowest in Europe. Perhaps the most important question besides the other advantages of the Montenegron citizenship program is the question of the costs. 4. On January 1, 2019, the decision about the program came and set to apply until December 31, 2021. Get your individual offer here. Montenegro is highly connected to Europe and all of its major hubs. The Montenegro Citizenship-by-Investment Program requires applicants to make a defined economic contribution to Montenegrin society through an investment in an approved development project, and a capital contribution to a fund designated by the government for the advancement of under-developed areas. Donations in Government funds in the amount of 100 000 EUR. Those who want to obtain Montenegro citizenship through the programme must buy real estate approved by the state or donate to a specified public fund. Direct flights and low-cost airline carriers not only bring business travelers to the country but an ever-growing number of tourists too. The Special Investment Program applications will be accepted at the beginning of 2019. This makes the country a bit more expensive than neighboring Serbia, for example, but it also improves its economic stability. Montenegro’s Citizenship by Investment Program. One of the most anticipated Citizenship by Investment programs in Europe, bringing global mobility, increased security and quality of life for foreign investors and their families, with a minimum capital requirement of €350,000. If you’ve fulfilled both, and the due diligence done on you and your family (if applicable) has revealed no cause for concern, you will be granted Montenegrin citizenship and be able to collect a passport. That’s why they’ve overpriced their CBI program, hoping that people are willing to pay more on the assumption that they will be full-fledged European Union members rather soon. The aforementioned Porto Montenegro, a world-class marina, harbors some of those yachts. I’m hoping that when it becomes part of the EU, my family can settle in Germany, where I do the majority of my business.”, “Gaining access to the Balkan peninsula has been a really great move for me as an investor. . That’s because it regained its independence only in 2006 after it’s citizens cast a ballot to split up the State Union of Serbia and Montenegro. You will only need to travel to Montenegro when your application is approved and you need to collect your actual passport. We’re sure that as the country develops and foreign capital comes in, the economy will develop beyond tourism, energy, and agriculture. No further commitment is required. Gather up all of the required documents and choose which real estate investment project you’d like to go for. Not only will they be able to travel there, but also settle, work and study in any European country. Spend just 5 days in Montenegro in a 5 year period to renew your passport. Alternatively, you could go for a ski resort in Kolasin or a hotel in the Lake Skadar region. Unfortunately, the UK and Ireland are not part of the Schengen zone, so you are not able to travel visa-free. In other words, they don’t care about the price per meter if the feeling is right. Montenegro’s CBI program will excite high-net-worth investors because of its nearly-EU status. “As a dual citizen, I decided to invest in Kolasin to get the Montenegrin passport. Option 2 – Southern Real Estate Investment. We feel that Montenegro has struck a near-perfect balance here. If we were to write about only one city in Montenegro, the picture would be incomplete. On 3 October, 2019, the government of Montenegro announced that it was receiving applications for its citizenship-for-investment programme that will last until 2022. No language tests, No business experience. Save my name, email, and website in this browser for the next time I comment. That’s how long the due diligence and application processing takes. Still unsure? 2. But we’d recommend you discuss your financial situation and long-term goals with. You’ll get access to 120+ countries visa-free with your Montenegrin passport, including all of Europe’s Schengen Area, Russia, UAE, North Macedonia and Turkey. The government took a step to attract direct foreign investment and launched the Montenegro Citizenship by Investment Program. “The program will have significant positive effects in generating revenues, primarily through attracting new investments,” they have said. Your email address will not be published. -. Plus, Montenegro is well-connected to the rest of Europe. CBI scheme is limited to only 2000 investors. Montenegro is a hyper-popular travel destination and, thanks to its favorable taxes, Montenegro now offers a very efficient and productive environment for investors. Expected to happen in 2025, citizens of Montenegro will then be able to travel, live and work in whichever EU country that they choose. Montenegro is highly connected to Europe and all of its major hubs. Purchase government-approved real estate worth, in southern Montenegro, and hold for 5 years, If the main applicant wants to bring dependent parents or grandparents, that will be an additional, Then, the total outlay for a solo applicant making an investment in the cheaper north comes to, A couple investing in the luxurious coastal area will have to shell out, Let’s talk about the donation first. E-Mail: The absolute minimum that you need to invest is. There are so many interesting infrastructure and industrial projects to get involved in.”, “The Nomad Capitalist team has helped me obtain a Montenegrin passport, advising me to invest in a coastal property. But that’s not all. In other words, you will be able to sell it after a holding period of five years. Montenegro has unilaterally joined the euro zone, so all economic activity within its borders happens in this European currency. The south of Montenegro basically spans the entire coast of 300km. It’s mandatory for all CBI program applicants to make this donation and its amount is firmly set at. For more information on how to obtain a residence permit in Montenegro, please contact us. As with all post-Soviet countries, Montenegro suffers from corruption. So, if Europe is a focal point for you in terms of doing business, it might make more sense than buying a citizenship in, 2. 7. To qualify for residency or citizenship, applicants must fulfill one of the investment options below in addition to meeting the following criteria: 1. All rights reserved. Submit your application and wait up to 6 months for an outcome; due diligence will be conducted. So, if Europe is a focal point for you in terms of doing business, it might make more sense than buying a citizenship in St Lucia, for example. Montenegro launched brand new citizenship by investment scheme in 2019 to attract foreign property investors. A candidate may apply with his family and in rare cases grandparents or dependent elderly parents. Montenegro is a hyper-popular travel destination and, thanks to its favorable taxes, Montenegro now offers a very efficient and productive environment for investors. The Montenegrin passport brings visa-free access to over 122 countries, including Europe. The absolute minimum that you need to invest is €350,000. If Montenegro joins the EU, this is your cheapest path to eventual EU citizenship. Go through a preliminary check with your agent. KEY FACTS. Please let me know whether montenegro allows dual citizenship under this scheme. You can visit the EU Schengen area visa-free for 90 days in any given 6 month period, but you aren’t allowed to become a resident or work there. Meanwhile, if you want to lower your investment, you can make a purchase worth at least, The good news is that the investment is recoupable. There are also plans to get visa-free access to China, just like Serbians and Bosnians have done. Is the program of this small Balkan country worthy of your money and your time? The Montenegro Citizenship by Investment program is offered by My Global Citizenship™. Favorable tax environment. €100,000 donation to the government of Montenegro, which will be used to fund development projects. Montenegro is not only recognizable for its exceptional natural beauty, but is also known for its exciting nightlife. I wrote an article about the pros and cons of the program here. Citizenship. It’s definitely far above the competition in nearby Moldova and Bulgaria. Invest €250,000 in the mountainous northern region. Many websites say that it does not allow but you have stated that it allows. As with every CBI program where the government runs a pre-approved list of real estate properties that you can invest in, real estate is overpriced. Finally, it launched on January 1st, 2019. But once you do, you need to spend 5 days in Montenegro over the period of 5 years to retain the citizenship and get your passport extended. Minimum outlay €350,000; Processing time 3 months; Residency or travel requirements None; Freedom of movement 124 countries Investment Options 2 Overview The newest citizenship by investment programme on the CBI block, the Montenegro Special Citizenship by Investment Program (MSCIP) was launched in November 2019. . Provide documents supporting the source and origin of invested funds. You will agree to invest a pre-set amount of money into a country and will be granted citizenship in that country in return. 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