Montenegro

MONTENEGRO

Project Summary

The Montenegro Citizenship-by-Investment Programme (CIP) was launched in late 2019 to boost foreign direct investment and stimulate the economy. The world’s newest CIP is also its most exclusive with only 2,000 applications to be accepted by the government.

In 2006, Montenegro started the process of accession to the European Union. It has since garnered widespread support from EU officials and is most likely the next country to gain membership in 2025.

Should the country join the EU, citizens of Montenegro would have the same rights as other EU citizens such as the right of establishment in all EU Member States. Whilst the Montenegrin passport currently affords visa-free travel to over 120 countries, this number would certainly increase substantially once it joins the EU.

Country Summary

Located in South Eastern Europe, Montenegro is considered one of Europe’s most naturally stunning, economically dynamic and up-and-coming countries on the continent. With a varying landscape spread over 13,800 square kilometres, Montenegro is slightly larger than Cyprus and over 40 times larger than Malta. This picturesque country is lined with over 115 beaches that feature a warm Mediterranean climate and over 230 days of sunshine per year. The country is also host to a number of UNESCO World Heritage Sites, including Kotor Old Town, Tara Canyon and Durmitor National Park.

Montenegro is a democratic country that became a member of NATO in June 2017 and is on course for accession to the European Union by 2025.

Luxury tourism continues to be an important industry for the country, with Porto Montenegro, Tivat at the centre of it all. This popular town includes a stunning marina, luxury yachting community, bars, nightclubs and high-end real estate.

 

montenegro map

Application Requirements

Real Estate

Applicants purchase a property in a government-approved real estate project by meeting one of the following criteria:

• EUR 450,000 investment in real estate on the coast of Montenegro or in the capital city of Podgorica, OR
• EUR 250,000 investment in real estate in the northern part of Montenegro

Donation

In addition to the real estate purchase, applicants must make a non-refundable donation to the Government Fund of Montenegro in the amount of EUR 100,000.

Government Processing Fees

• EUR 15,000 for the Principal Applicant
• EUR 10,000 for each family member, up to four dependants
• EUR 50,000 for each additional dependant above four

Government Due Diligence Fees

• EUR 7,000 for the Principal Applicant
• EUR 1,500 for each dependant, or
• EUR 10,000 for a family of four

Benefits and Advantages

  • Citizenship obtained within 4 to 6 months
  • Visa-free access to 125 countries
  • Montenegro is on-track for EU Membership by 2025
  • Dual citizenship is permitted
  • Only one visit required after receiving the approval in principle
  • Low corporate and personal income tax and no tax on inheritance or gifts
  • Potentially one of the fastest growing real estate markets in Europe
  • Access to USA through E2 Investor Visa treaty, giving citizens the ability to apply for the non-immigrant visa
  • No Requirement to learn Montenegrin and English is widely spoken
  • Montenegro has a favourable tax regime with resident individuals paying between 9% and 11% of their personal income. Non-residents pay 5% tax on interest income and 9%
  • VAT in Montenegro is set at 21%, excluding services in five-star hotels and marina berths for boats and yachts which are at 7%.The country has a very competitive corporate income tax at a flat rate of 9% and some generous tax incentives for new businesses in certain parts of the country.
  • While purchasing property, the country does levy a real estate tax that ranges from 0.25% to 1%, however buyers of newly built

Application Process

Months 1-2

Initial due diligence is performed.

Application is submitted to the government for review.

Months 2-3

The file is received by the government and further due diligence and background checks with international law enforcement will be performed.

Months 3-4

Upon approval, the client will conclude the real estate purchase and transfer the required funds. The client will travel to Montenegro and we  will assist the client to submit their citizenship application.

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