A long-anticipated Citizenship investment program has now officially been opened and the 1st case approved to Montenegro. The program was announced in July 2018 with the official launch in January 2020. The first family from Egypt has been awarded citizenship by investment in property in the Southern European Country and received Montenegrin Citizenship. Montenegro is located on the coast of the Balkans. It borders Bosnia-Herzegovina to the northwest, Serbia to the northeast, Kosovo to the east, Albania to the southeast, the Adriatic Sea to the southwest, and Croatia to the west.
Montenegro has an area of 13,812 square kilometers and is offering high-net-worth investors significant opportunities in a booming regional market, a powerful passport, and visa-free access to the whole of Europe’s Schengen Area.
Montenegro is a member of the UN, NATO, the World Trade Organization, the Organization for Security and Co-operation in Europe, the Council of Europe, and the Central European Free Trade Agreement. It is a founding member of the Union for the Mediterranean.
The accession of Montenegro to the European Union (EU) is on the current agenda for future enlargement of the EU. The European Commission on 9 November 2010 recommended Montenegro as a candidate country. This candidate status was officially granted on 17 December 2010. With 32 chapters opened, the country enjoys widespread support among EU members’ officials, and the accession of the country to the EU is considered possible by 2025.
The World Bank classifies Montenegro as one of the fastest-growing Balkan economies, and the nation is quickly establishing itself as a key strategic destination for some of the world’s most important industries.
The current Investment Program is limited to just 2,000 applicants and offers individuals several options in terms of investment such as:
EUR 450,000 investment in real estate projects in developed regions of the country
EUR 250,000 investment in real estate projects in less developed areas.
Applicants are also required to make a donation of EUR 100,000 per application to the State Fund – this is to promote and contribute to the development of underdeveloped areas.
To calculate – a single applicant will need to invest EUR 350,000 to receive Montenegrin investment.
Family members who are financially dependent on the main applicant may join in the investment process including children, spouses, and even grandparents.
VISA-FREE TRAVEL to over 115 Countries Visa-free entry to all EU Countries* South Korea, Hong Kong, the UAE and Singapore
EU visits are limited to 90 days within 6 months and do not permit employment
Visa to the United is Required.
The qualifying main applicant is required to be over 18 years of age, meet the application requirements, and make both a qualifying investment into a government-approved project and a qualifying contribution.
There are additional Government expenses in addition to processing fees.
Processing TIME – The residence permit can be received within 3 weeks and citizenship with 6 months
Once the application is processed by the government and provided that all due diligence procedures are completed satisfactorily, citizenship is granted.
Once acquired, Montenegrin citizenship extends to family members (being received by children when they reach 18 years of age) and can be passed on to future generations by descent.
Tax Opportunities – Corporate and Personal Income tax is 9%
Language – The official language is called “Montenegrin”, while Bosnian, Croatian, Serbian and Albanian are languages in official use. Foreign Investors are not required to pass any Montenegrin language or history tests of the country.
Example of Land prices
350 EURO per meter by sea
60 cent per meter in a rural area with Government support
70,000 acres for 40,000 Euro
NO ZONING IN MOST RURAL AREAS
See some videos and websites to review properties and land investment opportunities:
Dual Citizenship is permitted and highly confidential- As opposed to other countries, the new Montenegrin citizen program will allow you to hold on to your previous citizenship and dual citizenship is permitted while the country will NOT update your 1st citizenship country.
Is physical residency required at any time – If you wish to reside, you have unlimited stay in Montenegro – and if you have no interest in staying – you are not required to live in the country for any mandatory period of time. In order to ensure that you don’t lose citizenship after 5 years, there is a minimum of 5 days’ stay within the first 5 years.
Please note: the program is designed for 3 years, and the number of applications is limited by 2,000 quotas.
Please feel free to contact us at DRSI Law, to review your eligibility to apply for a Montenegro passport.
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