Montenegro Citizenship by Investment — An Overview
The Montenegro Citizenship-by-Investment Program was launched by the Government of Montenegro as part of its ongoing efforts to attract foreign direct investment and increase economic activity in the country.
The Montenegro Citizenship-by-Investment Program requires applicants to make a defined economic contribution to Montenegrin society through an investment in an approved development project, and a capital contribution to a fund designated by the government for the advancement of under-developed areas. In exchange, and subject to a stringent vetting and due diligence process, including thorough background checks, applicants and their families are granted citizenship.
Benefits of Montenegrin citizenship
- Visa-free or visa-on-arrival access to 124 destinations including Europe’s Schengen Area, Russia, and Turkey
- Citizenship in a country that is an official EU candidate country
- Citizenship in a multinational and multilingual European community that enjoys a mild Mediterranean climate, beautiful scenery, and a low cost of living
- Citizenship in a member state of the European Monetary Union, the NATO Alliance, OSCE, and the WTO
- Full citizenship granted to the applicant and included family members
- Political and economic stability, underpinned by a business-oriented government
An applicant may acquire Montenegrin citizenship by admission on the basis of a special program if:
1) For the purpose of the costs of the procedure, he has made a payment to the payment account of the Competent Body in the amount of: • EUR 15,000.00 for the applicant; • EUR 10,000.00 for each family member, up to four members at maximum; • EUR 50,000.00 for each next family member. Due diligence fees: • €7,000 for a single applicant • €10,000 for up to 4 dependents • €1,500 fifth and next dependent, per person Appointed agency’s advisory fees: • €25,000 for the main applicant • €5,000 spouse/dependent child, per person
2) Has deposited on the ESCROW account an amount of EUR 100,000.00 intended for the development of less developed local self government units for the purpose referred to in Article 18 of the Law on Regional Development; …
3) Has deposited on the ESCROW account an amount of at least EUR 450,000.00 for the purpose of investing in some of the development projects in the Capital of Podgorica or the coastal region of Montenegro or an amount of at least EUR 250,000.00 for the purpose of investing in some of the development projects in the northern or central region of Montenegro, save for the Capital of Podgorica;
4) Has not been sentenced in Montenegro or another state by a final and binding court decision to an unconditional prison sentence of more than one year for a criminal offense prosecuted ex officio or the legal consequences of the conviction for such criminal offence have ceased;
5) The international due diligence agent has given a positive opinion, including proof of the origin of the money intended for payment and investment in accordance with this Decision.
Applicants will also be charged by all costs pertaining to visa application, issuance, translation and authentication of documents, travel and accommodation expenses, bank fees and charges for all bank transfers, and other incidental costs based on their individual cases and family composition.
Montenegro Government has approved a list of 4 hotels as approved real estate projects under the special economic citizenship program which is limited to 2000 investors.
Foreigners are required to invest atleast EUR 250,000 in north of Montenegro plus pay EUR 100,000 as contribution for Government to acquire citizenship in Montenegro. The real estate investment is increased to EUR 350,000 in capital Podgorica and beach resort areas.
Government fee: Additional Donation of EUR 100,000 in the form of Government fee is needed.
Application fee: The applicant must deposit 15,000 euros for an application for themselves, 10,000 euros for up to 4 family members, and 50,000 euros for each next family member. Total investment requires a minimum investment of EUR 350,000 or more. Additional due diligence and passport fee extra.
The list official construction of hotels and resorts approved by Government of Montenegro are:
• Condo Hotel „Kolašin Resort & Spa“, Kolašin
• Condo Hotel Breza, Kolašin
• Hotel Kraljičina plaža“, Miločer, Budva
• Durmitor Hotel and Villas“, Žabljak
• Bjelasica 1450 Kolašin
• K16 Kolašin
CITIZENSHIP & BOKA PLACE
Buyers of residences at Porto Montenegro’s newest development, Boka Place, can secure single or multiple investments from the new Kerzner-Managed Residence portfolio to meet the CBIP minimum investment threshold.
Please contact us for more information.