Montenegro citizenship by investment: details of the new program
Since October last year, Montenegro has had a residence permit program in exchange for investment, which is popular in many countries around the world. According to it, it is possible to obtain a state passport if you purchase real estate for a certain sum. To get citizenship of Montenegro by investment, you need to choose an object for purchase from the list provided by the government and make a charitable contribution to the national fund.
The program is designed for 3 years and has already started accepting applications. The approval procedure is quite fast, the first-time request was considered only for 3 months. The first investor became a man from Egypt, now he and his family will receive Balkan passports..
At the moment, the government of Montenegro designated a small list of real estate for foreigners. Officials plan to expand the list of housing to attract as many applicants from other countries.
According to the rules of the program, by the end of 2021 citizenship will be granted to a limited number of applicants – 2 thousand people plus their family members.
The main requirement is an investment of 450 thousand euros in real estate, which is located in Podgorica and coastal areas of the country. Acquisition of objects in the northern and central regions will cost 250 thousand euros. In addition to this amount, the applicant for citizenship must contribute 100 thousand euros to the state fund, which is created specifically for these purposes, and pay a certain amount of state duty.
The owner has the right to sell objects purchased in this way not earlier than 5 years from the date of purchase. To be in Montenegro after obtaining a local passport is not necessary, as well as to renounce the citizenship of the native country.
Besides the investor, the citizenship is claimed by the members of his family – his spouse and children, who financially depend on the applicant. It is also passed on by inheritance.
Montenegro is not a member of the EU, but according to the European Commission, it has every chance of becoming a member in 2025. By obtaining a passport of this country, you have the right to travel through a simplified system to 122 countries, including the entire Schengen area and the UAE. In addition, citizens of Montenegro can apply for an E-2 visa, which allows you to live and do business in the United States.
Montenegro is comfortable not only in terms of recreation. Excellent conditions for life and professional activity are created here. To place a foreign company in the state does not need to pass local registration, so you can count on maximum confidentiality in the management of international business. The income tax from an individual is 9-11%, profit tax is 9%, VAT is 7-17%.