On October 1, 2018, the government of Montenegro announced that it was introducing the Montenegro Citizenship-by-Investment (CBI) programme to continuously attract foreign investors and boost economic activity in the country. This program officially opened on January 1, 2019.
Montenegro’s CBI programme requires applicants to make a real estate investment in the country, as well as donate to a fund designated by the government to help improve underdeveloped areas. In return, applicants and their families may be granted citizenship, provided they have successfully gone through the assessment and due diligence process, including in-depth background checks.
However, the Montenegro CBI programme is ending soon. Applicants can only submit their applications until the end of December 2021, so if you want to apply for this program, it is best to start the application process now.
Why choose the Montenegro CBI programme?
Here are some of the reasons to take advantage of the Montenegro CBI program:
1. Visa-free travel or visa-on-arrival access
Being a Montenegro citizen allows you to travel the world faster and with much more convenience as you can visit 124 countries visa-free. These include the Schengen area, Russia, Turkey and several countries in North America and South America.
2. Pathway to European citizenship
Montenegro is a candidate to join the European Union in 2025. As part of the EU, the country can give its citizens more benefits, including a wider variety of job opportunities, ability to expand business easily in other EU territories, higher wages, freedom to use telecommunications services without additional costs, and more.
3. Favourable tax system
Montenegro charges a 19% value added tax (VAT) on most goods and services, but they allow as low as 7% and even 0% VAT rates for certain goods and services.
Also, Montenegro has a fair and equal tax system for local and foreigners. Their personal income tax ranges from 9% to 11%, depending on the amount of a person’s earnings, and all companies pay the same income tax rate of 9%.
4. Cost-effective investment conditions
The investment you need to prepare for your application, which is at least EUR 350,000, is cost-effective enough for a country in Europe. In addition, it will go a long way both for you and the Montenegrin society as well.
5. Good quality of life
Montenegro ranked 52nd in quality of life worldwide in the latest Legatum Prosperity Index report. Aside from having a mild Mediterranean climate and picturesque views, this country also offers a low cost of living, superior safety and an excellent educational system.
6. Business and investment opportunities
Montenegro is still developing as it became an independent state only in 2006, but it is one of the most stable countries in Eastern Europe. This makes it a great place for investment and starting businesses, especially for those in the mining, maritime and tourism industries.
7. Fast citizenship processing time
The Montenegro CBI programme has a fast and transparent process, and you and your family can enjoy your citizenship for a lifetime. You can become a Montenegrin resident within 3 weeks, and your citizenship can be granted in just about 6 months.
What are the investment requirements?
The government of Montenegro requires applicants to invest EUR 250,000 in some of the approved real estate projects in undeveloped areas of Montenegro (North), or invest EUR 450,000 in some of the approved real estate projects in a developed area in Montenegro (South). This is on top of the required government fee/donation worth EUR 100,000.
The application fee for one person is EUR 15,000, additional EUR 10,000 for up to 4 family members, and EUR 50,000 for each additional family member.
Montenegro CBI application process
- You need a month or two to prepare your documents, and to work together with a legal advisor like Next Generation Equity.
- Then, your application will be submitted for review and administrative compliance.
- You will be required to travel to Montenegro to submit your residence application and biometrics. Your citizen application must also be submitted during your trip.
- You will then receive Naturalisation Certificate(s) in Montenegro.
- Your passport will be granted.
Why process your Montenegro CBI application with Next Generation Equity?
Next Generation Equity is a legal and government-approved firm processing second citizenship applications. We handle the application process from start to finish, with utmost level of care, confidentiality and attention to detail. For years, Next Generation Equity’s Citizenship Experts have helped individuals and families become citizens of various European and Caribbean countries. We have also helped our clients get access to better healthcare and education, benefit from better tax systems and improve their business and income opportunities.
To learn more about the Montenegro CBI programme that we offer, book a free consultation with our experts by filling out the form below.