Montenegro offers all international investors an opportunity to acquire Montenegrin passport by purchasing a real estate property on its territory. Government of Montenegro have passed a decision to implement Citizenship by Investment Program (cnr: ekonomsko državljanstvo), aiming to receive at least 2000 investors’ applications, however, it is important to consider the fact that the following CIP is temporary: Montenegrin government will accept citizenship applications starting from 1 January 2019 and the program shall remain in effect until 31 December 2021.
The main requirement to apply for a citizenship in Montenegro is purchase of a real estate property on the territory of Montenegro for a specified price. Considering the fact, Montenegro is quite diverse in terms of geography and urban development, CIP provides two different options for investment, making distinction based on the part of the country (province), in which the real estate is purchased:
|Investment solution #1|
An investor must purchase real estate property, which is a part of the government-approved construction project in the northern or central regions of Montenegro (except Podgorica).
The price of real estate property in these areas must be at least EUR 250 000.
|Investment solution #2|
An investor must purchase real estate property, which is a part of the government-approved construction project in the southern or coastal regions of Montenegro or in the capital city – Podgorica.
The price of real estate property in these areas must be at least EUR 450 000.
Regardless of chosen option, there will be following extra costs associated with the citizenship application procedure:
- a government processing fee in the amount of EUR 100 000;
- application state fee in the amount of EUR 15 000 for the investor’s application;
- application state fee in the amount of EUR 10 000 for the first 4 family members;
- application state fee in the amount of EUR 50 000 for each next family member.
Considering all this, the minimum total amount associated with Montenegrin passport application for a single investor equals to EUR 365 000.
Benefits of the Montenegrin passport
Despite the fact that Montenegro is currently not a part of the European Union or Schengen area – holding a second passport still provides many benefits to an individual, especially in terms of visa-free movement, social and civil rights as well as conducting business activity.
Holding a Montenegrin passport, specifically, provide the following advantages:
- Hold an alternative passport to show when crossing the border or declaring taxes;
- Declare tax residence in Montenegro;
- Have full social, political and civil rights in Montenegro;
- Travel to 77 countries visa-free, with visa on arrival – to 41 countries;
- Live in a green European country;
- Acquire local driving license;
- Access European healthcare and education system;
- Use new business opportunities and explore new markets.
The Montenegrin passport provides other advantages as well. Contact us now to receive full information.
Citizenship acquisition procedure
There are several general requirements, which must be fulfilled in order to successfully apply for a citizenship in Montenegro on the grounds of purchase of real estate: an investor at the moment of application must be at least 18 years old, have clean criminal record and have good mental and physical health. It is possible that an investor applies together with the spouse and minor children, and, under specific circumstances, with the dependant elderly parents or grandparents.
The legal procedure of citizenship application in Montenegro can be quite challenging and require professional legal expertise to successfully draft and prepare all required documents in compliance with legal requirements.
Contact us to apply for a preliminary assessment: