The imminent integration of the Balkan country with the European Union is a powerful incentive to invest in Montenegrin citizenship when buying real estate. But where exactly should you invest your money? One of the government-approved development projects, the key information about Montenegro Passport by Investment is given below!
Why is Montenegrin citizenship interesting for an investor?
The Covid-19 pandemic has devastated the economies of many tourism-dependent states and territories around the world, including Montenegro, whose authorities are now forced to adopt new strategies to balance their budgets and significantly increase foreign direct investment.
Fortunately for Montenegrin officials and residents of this country, there is already an economic citizenship by investment program, which enjoys the support of both sides of the parliament and the Cabinet of Ministers.
Taking into account the entry threshold of 350 thousand euros and the limit on the number of successfully satisfied applicants set at 2,000, it is expected that the Montenegrin economy will attract about 1 billion euros. In the current environment, this can be viewed as a “lifeline”.
Confidential and simple dual citizenship for the whole family
Montenegrin legislation does not prohibit multiple citizenships. Moreover, information about the fact that a foreigner has received a Montenegro Passport by Investment from this country will remain confidential. It will take about 6 months to obtain a passport based on the investment. There is no need to live all this time in the receiving state. If the relatives of the main candidate confirm their financial dependence on him, they will also receive the country’s passports.
Citizenship for real estate
Economic citizenship of Montenegro is issued for compiled investments (gratuitous subsidies plus returnable investments in real estate). Payment for real estate is made after the approval of the application by the authorized bodies. Until approved, the money is held in escrow accounts. If the candidate is rejected, the entire amount will be returned to him.
European integration
Montenegro, already classified by the World Bank as an upper-middle-income country, is in the process of joining the European Union. It is expected that it will receive membership in the European Union by 2025, after which the jurisdiction will join the Schengen area. The country is also a NATO member.
Passive rental income
The coming European integration will be a catalyst for the development and prosperity of the Montenegrin tourism sector, on which this jurisdiction largely depends. As a result, in the future, Montenegrin resort real estate will generate even more rental income.
Ease of travel
The Montenegrin passport ranks 42nd in the world ranking among the most valuable passports in terms of lifting visa restrictions. It provides its holder with visa-free access or the right to a visa upon arrival in 123 countries, including the EU Schengen countries, Russia, the United Arab Emirates, Turkey, Singapore, Hong Kong, South Korea, and other destinations. A visa is required to travel to the UK, Canada, Australia, and the USA.
Incentives for Foreign Investors
Having got rid of the legacy of the Eastern Bloc, the Montenegrin authorities have embarked on a strategy to attract wealth and capital to the country from abroad, creating business and tax incentives for foreign investors. In particular, Montenegrin legislation offers some of the lowest personal income tax rates in the Old World.
Low prices
Prices for Montenegrin real estate are still among the lowest in Europe. The situation can change when the country integrates into the European Union. The consequence, as analysts expect, will be an increase in the value of the real estate.
Montenegro Passport by Investment: The alternate jurisdiction
The Balkan jurisdiction is incredibly beautiful, with an amazing coastline and interesting culture, and is becoming a new playground for wealthy citizens of the world and travelers. The state may well become the “next Monaco”.
“Gateway” to the States
In a Montenegrin passport, issued under the Montenegrin citizenship investment program, you can get an E2 American non immigrant business visa to move to the United States, which allows you to legally live in the States without becoming an American tax resident. Passports of Russia, Belarus, China, and several other states do not provide their holders with access to this visa.
Montenegrin passport applicant criteria
Foreigners who meet the following conditions can obtain Montenegrin citizenship:
- Investments in a development project in the Primorsky region or the city of Podgorica – 450,000 EUR.
- Investments in a development project in the North or Central region – 250,000 EUR.
- Non-refundable contribution to the ESCROW account to the budget of less developed territories – 100,000 EUR.
Payment of commissions for Montenegro Passport by Investment: 15,000 EUR for yourself, 10,000 EUR for a maximum of 4 family members and 50,000 EUR for each subsequent family member.
- Lack of a damaged reputation: imprisonment for more than 1 year for a criminal offense.
- The presence of a positive decision on the origin of funds (issued by a licensed appraiser).
Investments are made in objects that meet the criteria set by the government:
- Investments in the hotel and tourist complexes in the Primorsky region and the capital (Podgorica) that meet the following requirements: at least 5 stars; at least 60 rooms;
- investments from 15 million EUR; hiring at least 80 employees.
- Investments in hotels and hotels in the North and Central region (excluding Podgorica) meeting the following requirements: at least 4 stars; at least 35 rooms; investments from 5 million EUR; hiring at least 35 employees.
Learn about program here
