Montenegro offers all foreign investors and entrepreneurs to apply for Montenegrin citizenship based on investment in real estate property; such program is known as the Citizenship for Investment Program (or simply “CIP”). Montenegro Legal offers full support during the real estate purchase and citizenship acquisition procedures.
The major requirement to apply for a citizenship in Montenegro is acquisition 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.
In order to apply for a preliminary valuation – contact us now. Our lawyers will contact you and provide a list of questions and documents required to obtain all necessary information. We will also be able to provide you a list of real estate properties for sale, which would qualify you for the Montenegrin Citizenship.
Montenegrin second 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.
Having a second or even third passport can be quite beneficial for the traveling and taxation purposes. As Montenegro swiftly works its’ way towards EU ascension, acquiring Montenegrin passport today can be an excellent investment in your future!
Benefits of dual citizenship
Double citizenship holders are entitled to a number of benefits provided by each country you are holding passport of. Such features may grant opportunity to use two social insurance systems, a right to vote and be elected in both countries, as well as grants access to public healthcare and education. Person holding two passports is permitted to work and do business in any of two countries not requiring any kind of residence permission or employment visa. Having two passports provides you opportunity to travel visa-free to a bigger number of countries, depending on which passport you present at the border.
Another advantage of holding two passports is the ability to legally buy and own real estate in both countries. This may be relevant as some governments restrict owning land and / or real estate to nationals of third countries.
Qualification and legal requirements
In order for our lawyers and agents to successfully finalize your case, there is a list of requirements, which must be met in order to qualify the investor for the citizenship. 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:
|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.
The minimum overall amount associated with Montenegrin passport application for a single investor equals to EUR 365 000, including state fees and application fees, but excluding legal fee for lawyer’s work. Contact us now to receive more information about the associated costs and the qualification for dual citizenship.
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. Our agents and lawyers will request all relevant information and documents for prior evaluation and will let you know if there are any factors, which may pose a legal barrier for your application.
It is quite difficult to set specific time frames for the entire procedure, as it heavily relies on your capability of the client to acquire all required certificates and documents. Government application assessment procedure usually takes up to 6 months, if all requested documents had been provided correctly, which can be checked and ensured by our lawyers in advance, provided the client provides full information and does not hide any relevant details.
Major steps of acquiring a passport
The entire citizenship acquisition procedure may be simplified into the following major steps:
- Drafting application and preliminary approval by our lawyers;
- Submitting the application to the government immigration office;
- Government processes submitted application and performs due diligence checks;
- Decision on citizenship application approval;
- Performing an investment: real estate purchase;
- Citizenship certificate granted;
- Passport application and issuance.
Passport acquisition time frames
It is quite difficult to set specific time frames for the entire procedure, as it heavily relies on your capability to acquire all required certificates and documents. Government application assessment procedure usually takes up to 6 months, if all requested documents had been provided correctly.
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