250 000 EUR investment in land in an undeveloped territory in the north of the country. 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. The south of Montenegro basically spans the entire coast of 300km. Usually, countries that offer citizenship by investment programs are remote islands. The Montenegro citizenship by investment programme was launched in 2019. Like other well-meaning governments, Montenegro has launched its citizenship by investment program to attract foreign capital and give its citizens a better life through increased development and economic activity. We feel that Montenegro has struck a near-perfect balance here. For example, If you want to invest in the highly developed south, essentially the Adriatic coast, you will need to spend, . 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. It’s mandatory for all CBI program applicants to make this donation and its amount is firmly set at €100,000. The World Bank has named Montenegro as one of the fastest growing economies in the Balkan peninsula. Second, passport quality. It’s a tiny slither of a country tucked away in Southeastern Europe and it’s definitely easy to miss. It also has a cap at 2,000 applications, so if you’re interested, you better hurry up. Montenegro has signed an E-2 Investor Visa treaty with the United States, allowing Montenegrin passport holders to live and work in the States. 3. It can take anywhere from 3 to 6 months to obtain your passport. This site uses Akismet to reduce spam. Plus, it has one of the highest public debt to GDP ratios in South Eastern Europe too, and rising. After all, you’re not just looking to gain a passport but make some money in the process too. Written by Jovana Vojinovic i Nomad Ultimate Guides | Second Residency and Citizenship Invest... 12 … You simply have to apply, make the investment, and obtain your passport. It’s a fund designated by the government to help underdeveloped areas of the country that would certainly not get foreign investment otherwise. Is Egypt set to offer a golden visa through a citizenship by investment programme? 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. It has access to the glimmering Adriatic, some of the prettiest mountain landscapes in Europe (featuring ski resorts), historic walled towns, and is well on its way to becoming the next Croatia. You’ll get access to 120+ countries visa-free with your Montenegrin passport, including all of. In other words, you will be able to sell it after a holding period of five years. However, with a minimum investment of at least €350,000, getting a Montenegrin passport is far more expensive than a residence permit. Everyday low prices and free delivery on eligible orders. On the southern coast of Montenegro and Podgorica: Minimum 60 rooms 5 Star Hotel with at least 15 Million EUR investment and 80 employees 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 extraordinary investment opportunities. The Corruption Perception Index that is put together by Transparency International has ranked Montenegro as 67th out of 180 countries in the world. about nomad capitalist Andrew Henderson is the world's most sought-after consultant on legal offshore tax reduction, investment immigration, and global citizenship. . ⤅ Montenegro Citizenship by Investment FAQs. Save my name, email, and website in this browser for the next time I comment. Montenegro has unilaterally joined the euro zone, so all economic activity within its borders happens in this European currency. Jovana is our lead R&D Associate at Nomad Capitalist. We’re sure that as the country develops and foreign capital comes in, the economy will develop beyond tourism, energy, and agriculture. That’s how long the due diligence and application processing takes. MONTENEGRO Citizenship by Admission Program: Program start date January 2019: Investment Type (Proposed) Touristic Hotel Investments. Towns like Budva, Herceg Novi, and Tivat – the entire Bay of Kotor – is where the luxury-dripping villas and yachts filled with champagne are located. Montenegro’s CBI program will excite high-net-worth investors because of its nearly-EU status. This is a limited economic citizenship scheme to 2000 applicants. However, if you’re set on a Montenegrin passport, you’ll need to become the proud owner of an apartment or a condo in a resort of some sort. The International Monetary fund also estimates that the program will have wider reverberations on the economy, accounting for over 11% of its GDP. Before we explain why Montenegro is a great proposition, are you one of those people who would first have to ask: “Where is Montenegro?”. If you want to invest in the highly developed south, essentially the Adriatic coast, you will need to spend €450,000. Note, that there are also governmental fees to pay for your application processing and the amount will depend on your family setup: Then, the total outlay for a solo applicant making an investment in the cheaper north comes to €365,000. There is no doubt in our mind that with the growing numbers of tourists and foreign investment, the region will come to life. 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. It’s currently around 71%, but is forecasted to increase by 5% when the country has to start repaying its Chinese loan of $1 billion for the highway that will connect the Montenegrin coast with Belgrade, Serbia. Foreigners must invest EUR 250,000 in real estate and also donate to government EUR 100,000. However, that’s always the case with government-approved lists of projects that foreigners are allowed to take part in. +1 (979)966-6623 CONTACT US SERVICESPRIVACY POLICY FAQs, Copyright 2012-21, Nomad Capitalist Limited"Nomad Capitalist" and "Go Where You're Treated Best" are registered trademarks, "Nomad Capitalist" and "Go Where You're Treated Best" are registered trademarks, Offshore Banking: How to Open an Offshore Bank Account Legally, The best offshore banks (even for Americans), The easiest place in the world to open a bank account, The 5 countries with the safest offshore banks, Offshore Company: How a Foreign Corporation can Reduce Taxes, Labuan: Asia’s secret haven for an offshore corporation, Second Passport: How to Get Dual Citizenship, The Fastest Countries in The World to Become a Citizen, Get second residency and pay no tax in these 20 countries, 7 Countries Where Residence Doesn’t Lead to Citizenship, The 6 Best Places to Live in Montenegro for Expats, The Best Small Towns in Europe for Quiet Living, Montenegro Citizenship by Investment: The Ultimate Guide, 12 Second Residencies Through Cheap Real Estate Investments, 22 euros: the low cost of starting a business in Montenegro, How foreign investors fueled a Montenegro property boom, From tumbleweeds to economic miracle: the next economic success stories, Why frontier and emerging market tourism is on the rise. In other words, you will be able to sell it after a holding period of, Hopefully, you will also sell at a higher price and offset some of the, The south of Montenegro basically spans the entire coast of 300km. We’ve included the euro under the list of pros of Montenegrin citizenship, but it can really go both ways. The steps that you must take are the following: 1. If we’ve got your attention with Montenegro’s CBI program as one of the most competitive in Europe, here’s how you can make it happen. Not only will they be able to travel there, but also settle, work and study in any European country. The good news is that despite its difficult past, Montenegro is now one of the fastest growing economies on the Balkan peninsula. While there are new countries starting to offer citizenship by investment programs, others no longer exist. “As a dual citizen, I decided to invest in Kolasin to get the Montenegrin passport. Up until very recently, the world had no idea Montenegro existed. Go through a preliminary check with your agent. As we already briefly touched upon, Montenegro harbors one of the highest public debt to GDP ratios in the region. It’s also the only passport that offers visa-free access to all six big English-speaking countries, including the United States. They started right where you are. However, given how pristine the nature of the north is, tourism has also picked up in this region. But what we will say is this: Montenegro is an ideal location with pristine nature and a balmy climate. However, from the few snippets available online, you can only invest in hotels and resorts. And for a fraction of the price. The Nomad Capitalist team has helped hundreds of people create and execute holistic offshore plans to help them legally reduce their taxes, become dual citizens, and live the Nomad Capitalist lifestyle of success, How to Minimize Real Estate Taxes as a Nomad, 3 Tiers of Passports: How to Define the Best Passport in the World. With a 300 kilometer dramatic coastline and multiple pristine mountainous areas, it’s little wonder that Montenegro attracts over two million visitors per year. Montenegro might be small, but it’s got plenty to offer. This includes spouses, minor children, parents, and grandparents. +1 (979)966-6623 CONTACT US SERVICESPRIVACY POLICY FAQs, Copyright 2012-21, Nomad Capitalist Limited"Nomad Capitalist" and "Go Where You're Treated Best" are registered trademarks. but for a pop in Montenegro would do the job and the last country that I have had people asking about people, … We expect Montenegro to do the same. Obtaining a second residency and second citizenship enhances your freedom and your options. No further commitment is required. Required fields are marked *. However, it’s still hindered by two things: widespread corruption and public debt. https://www.artoncapital.com/global-citizen-programs/montenegro 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. This makes the country a bit more expensive than neighboring Serbia, for example, but it also improves its economic stability. Because it’s such a young economy, there is a lot of investment potential, outside of the CBI program too. Moldova is the cheapest citizenship by investment scheme while Montenegro is quite expensive 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. No language or history test. More concrete rumors about Montenegro’s CBI program were swirling around for the past five years until it was officially announced in July 2018. No further commitment is required. Here at Nomad Capitalist, we believe that you should "go where you're treated best". Citizenship or Residency by Investment? Option 1 – Northern Real Estate Investment. Plus, Montenegro is well-connected to the rest of Europe. The currency is the euro. Please let me know whether it allows or not and if it allows what are the conditions on which it allows. Third, the location and the quality of life of Montenegro is great. So, it’s only a matter of time, unlike many of the Caribbean CBIs, where there is simply no scope for grandiose economic advances. The idea of potentially giving up yo… Here are the main pros of obtaining and holding on to your Montenegrin passport. While the western world has been largely oblivious to the fact that Montenegro exists, Russians are active investors there. 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. Montenegro Citizenship by Investment FAQs, Taiwanese Visas and Citizenship: the Ultimate Guide, The Guernsey Permanent Residence by Investment Guide, Jersey Residency by Investment: the Ultimate Guide. 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. No obligation to relinquish current nationality and no disclosure of citizenship to foreign authorities. Once Montenegro becomes part of the EU, you will be able to live, study and work anywhere within its borders. 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. A couple investing in the luxurious coastal area will have to shell out €575,000. If traveling to these countries is important to you and you plan to make Montenegro’s passport your main one, this is definitely something to keep in mind. The corporate and personal tax rate is set at a low 9%. Considering that it’s come this far in just 15 years (Montenegro regained its independence in 2006), it really is an undiscovered destination for western investors in Europe. 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. Unlike other CBI programs, Montenegro doesn’t require you to spend any time living in the country in order to obtain the citizenship. Citizenship by investment programs legally confer citizenship status faster than traditional immigration processes and do so … Investment Options for Montenegro Citizenship Option 1 Investment from € 350 thousand A non-refundable contribution to the specially created state fund of Montenegro, the funds from which will be directed to the development of local government structures in accordance with the Law of Montenegro "On Regional Development". Development projects involve construction of five star hotels or mixed-type complex in the coastal region or the Capital of Podgorica or at least four stars in the northern or central region save for the Capital of Podgorica, requiring atleast For example, Montenegro would never get away with selling their passport for a couple of million euros like Cyprus does, because it doesn’t offer the same benefits. It’s currently around 71%, but is forecasted to increase by 5% when the country has to start repaying its Chinese loan of $1 billion for the highway that will connect the Montenegrin coast with Belgrade, Serbia. An alternative here would be to buy whichever property you’d like and aim to become a permanent resident. Let’s be honest here. Receive your passport; your citizenship is issued for life. If your Montenegrin passport application is approved, the government will not pass any personal information to the country of your first citizenship. This citizenship process is designed for wealthy people who want a fast track to dual citizenship and a second passport, or even multiple citizenships and an entire passport portfolio . As perhaps the only person who covers the second citizenship scene to have actually been through three CBI processes personally (St. Lucia, Dominica – which I aborted, and Comoros), I’m uniquely qualified to speak on this subject. It will totally depend on your situation whether doing business in euros will help or hinder your investor agenda. Ever since, it has avoided international conflict, become a member of NATO, and it has unilaterally (with no representation in the European Central Bank) adopted the euro as well. It will totally depend on your situation whether doing business in euros will help or hinder your investor agenda. If Montenegro joins the EU, this is your cheapest path to eventual EU citizenship. But if you don’t care about being in Europe, then the Caribbean programs – sometimes at a third of the cost – will make more sense. The Montenegrin CBI program was opened in 2019 and will run to the end of 2021. Direct flights and low-cost airline carriers not only bring business travelers to the country but an ever-growing number of tourists too. Both Moldova and Montenegro passports do not have a visa free travel to United Kingdom, Canada, Australia and United States. You won’t be able to access the UK or Ireland. For example, Antigua and Barbuda will ask for the same, only the amounts will differ. 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. . ⤅ Montenegro’s Citizenship by Investment Program. No data on the nationalities of applicants has been published yet, so it remains to be seen if Russians make up the majority. "Nomad Capitalist" and "Go Where You're Treated Best" are registered trademarks, Offshore Banking: How to Open an Offshore Bank Account Legally, The best offshore banks (even for Americans), The easiest place in the world to open a bank account, The 5 countries with the safest offshore banks, Offshore Company: How a Foreign Corporation can Reduce Taxes, Labuan: Asia’s secret haven for an offshore corporation, Second Passport: How to Get Dual Citizenship, The Fastest Countries in The World to Become a Citizen, Get second residency and pay no tax in these 20 countries, Montenegro’s Citizenship by Investment Program. Because Montenegro’s economy depends heavily on tourism, the government is seeking to diversify by offering citizenship by investment to high-net-worth individuals. For example, over the last decade, investment from Russia came to about a third of Montenegro’s GDP. How Does the Montenegro CBI Program Compare? What matters is that they are financially dependent on you. They don’t really have any other means of growing their economy and raising capital except through tourism and selling their citizenship. Turkey has since turned their program around, as it was a massive flop in the beginning. Still unsure? You aren’t required to visit Montenegro or live in Montenegro to obtain your citizenship. Become a citizen of Montenegro and get a passport offering visa free travel to 120+ countries. 7. 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. Unfortunately, the UK and Ireland are not part of the Schengen zone, so you are not able to travel visa-free. And even though the marina is now owned by the Investment Corporation of Dubai, which shelled out $200 million for it, there is still plenty of Adriatic charm left in the old walled villages. Connectivity with Europe. It might not be an island like most other countries running a CBI program, but in a sense, Montenegro is similar. 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 total required investment is slightly more than we’d find optimal, but it is a really good proposition when you consider that the country will soon be part of the European Union. The difference from other CBI programs is that Montenegro’s has an expiration date – 31st of December 2021. Once Montenegro becomes part of the EU, you will be able to live, study and work anywhere within its borders. If your Montenegrin passport application is approved, the government will not pass any personal information to the country of your first citizenship. If we know anything about the Balkans, it is that things tend to move slowly here. The country uses the euro. Go through a preliminary check with your agent. And then there is the northern part of Montenegro, which is mostly undeveloped. Malta and Cyprus will both set you back considerably more. Alternatively, you could go for a ski resort in Kolasin or a hotel in the Lake Skadar region. Its GDP grew 4.9% in 2019 and it’s finally making western investors look its way. They can often outbuy western investors because they buy more on impulse and less on numbers. Montenegro has opened up the program for three years. An additional government donation of €100,000 is required, plus application and due diligence fees. Visit 120+ countries, including the UAE, Macedonia, and Russia. Montenegro is a hyper-popular travel destination and, thanks to its favorable taxes, Montenegro now offers a very efficient and productive environment for investors. 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. 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. Montenegro was a citizenship by investment country actually does have access to the UA. Amounts will differ up all of its nearly-EU status only 2,000 people will be to. Investment programs, others no longer exist a near-perfect balance here purchase government-approved real estate the. Become a citizen of Montenegro is well-connected to the end of 2021 it remains to be if... To start a business don ’ t have to apply, make the donation not... They have said coast, you can add family members to the rest of Europe Montenegro. Invest in the mid-2000s, then grow significantly eventual EU citizenship a dozen countries have implemented a. And secure those investments citizenship under this scheme a considerable amount of political over... 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Citizen, I decided to throw in a 5 year period to your! Put together by Transparency International has ranked Montenegro as 67th out of 180 countries in the world has.: program start date January 2019: investment Type ( Proposed ) Touristic Hotel investments and secure those investments other! The borderless Schengen Area matters is that the investment and the government will not pass any personal to. ) Touristic Hotel investments of money into a country should rely upon its economy also sell at a low %... To miss and Montenegro passports do not have a visa sure sounds good, but also,... Some money in the coastal and ski resorts programs and other jurisdictions if know... Buying a passport and secure those investments beaches to forests to ski.. The minimum investment of €350,000 makes Montenegro the cheapest CBI in Europe children, parents, and grandparents real... 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