MONTENEGRO | EUROPE CITIZENSHIP BY INVESTMENT
Montenegro is the latest country to launch a Citizenship by Investment program. The program was introduced by its government in 2019 to attract foreign direct investment and boost the country’s economy.
Obtaining a Montenegrin passport allows its citizens to travel to 121 countries without a visa including Schengen, UAE and Singapore. After obtaining this passport, investors can apply for E2 visa of USA.
The net cost of obtaining citizenship of this country is the lowest as compared to other European programs.
Non EU-citizens with no criminal record can apply for Montenegrin citizenship. There are two options that investors can choose from:
Invest €250,000 in a government approved property project in the less developed parts of the country which include the Northern and Central regions of Montenegro
Invest €450,000 in the developed southern region (coastal areas) of the country or the capital of Podgorica.
Investors are also required to make a non-refundable contribution of €100,000 to state funds that will be used for development of underdeveloped communities of the country.
Investments are to be made only in government approved projects to maintain integrity. 15 properties have been approved under the program in March 2021. These include four-star and five-star hotels and resorts.
The investor is required to hold the property for a minimum of five years. The property can be rented out to generate income for the investor. After five years, the property can be sold for a profit.
The entire process of obtaining Montenegrin citizenship can take between 3 to 6 months.
Benefits of the Program:
- Lowest investment amount compared to other European programs
- Citizenship for life and can be passed on to future generations
- Family members can accompany the investor and can be included in the same application
- No requirement to live in the country after obtaining citizenship. Investors need to visit the country only once to comply with biometric requirements and obtain passport.
- Fast processing time
- No language or education requirements
- Dual citizenship permitted
- At present, investors can freely travel to Schengen countries but have to live, work and do business only in Montenegro. After EU accession, investors can live, study, work and do business in any of the 28 EU member states.
- Montenegro offers a favourable tax regime. The country offers one of the lowest personal income tax rates in Europe and one of the best conditions for doing business in Europe.