By Company Registrations Worldwide, 24th Oct 2018
Montenegro is one of the most investor-friendly countries for international investment in Europe. There are a couple investment options that will allow foreign nationals and non-EU passport holders to gain Residency and Citizenship in Montenegro. Foreign national are taking notice of Montenegro’s already established coastal tourism industry and as an emerging country it is a promising candidate to join the EU, it is estimated to become an EU member country by 2025.
Citizenship by Investment
Montenegro has been making headlines recently with its new Montenegro Economic Citizenship Program (MECP). The Government of Montenegro officially introduced this special investment scheme on October 1, 2018. This is one of the best value residency and citizenship by investment programs available.
Although they are still working out the details the government of Montenegro has already begun accepting application reservations. Montenegro has committed to approving 2,000 applicants over the next 3 years, successful applicants will gain residency after 3 weeks and citizenship after 6 months. This is an excellent opportunity for foreign and non-EU persons because there is no requirement to relinquish current citizenship. Visas for spouses and dependents under the age of 25 are also available.
There are two MECP options for foreign nationals and non-EU passport holders to attain Montenegro residency and citizenship.
€250,000 investment in underdeveloped North area + €100,000 donation to the government. There are multiple underutilized tourism opportunities in the Northern mountainous region of Montenegro where investment is needed including the development of a major ski resort as well as multiple projects to improve infrastructure.
€450,000 investment in a developed region + €100,000 donation to the government. The Montenegro government have approved multiple projects in the developed southern harbour and coastal regions for investment. This region is already a tourist hot spot.
Residency by Real-estate Investment
The Montenegro government will allow foreign nationals and non-EU passport holders to obtain a one-year temporary residency permit through real-estate investment. To qualify, Foreigners are required to purchase a habitable property. A small apartment near the seacoast that will require renovations typically costs between €26,000 to €65,000. New build projects start in the mid six-figure range and higher.
Once a foreign national holds the title to a property in Montenegro, they can go through the procedures to obtain a one-year temporary residency permit, but real estate residency rarely leads to citizenship. However, business residency can lead to citizenship after ten years.
Montenegro Economic Citizenship Program and residency by real-estate investment programs are assisting Monegro to quickly become an established country for international investment in Europe. However, programs are subject to application and it is essential to have the right support on the ground in Montenegro. The Company Registrations World Wide team would be happy to provide you with more information about investment opportunities in Montenegro and to submit your citizenship by investment or residency by real-estate investment application. Please contact us today to learn more.