Immigration Central: Montenegro Citizenship by Investment will close in December 2022
C was launched in 2019, the Montenegro citizenship program by investment will be officially closed in December 2022. Those who apply before December 2022 can secure European citizenship within 8-10 months, and the membership of the European Union (EU) because Montenegro is an official candidate country state And expected to join the EU in 2025.
The World Bank classifies Montenegro as one of the fastest growing economies and Montenegrin’s passport is ranked 45th in the Henley passport index, providing visa-free access or visa-on-coming to 123 goals worldwide.
Basic facts
• To meet the requirements for Montenegro citizenship with an investment program, the main applicant must be more than 18 years old.
• There is no official gold visa scheme, only a gold passport scheme. It is possible to get a residence permit for investment.
You need to visit Montenegro once to receive a residence permit, complete investment, sign and complete the biometric data process.
• There are no requirements to visit Montenegro after getting a passport.
• Applications are processed within eight to ten months.
• All Montenegro passports issued for investors are valid for 10 years.
• Benefits including free access visa or visa-on-visa to 123 destinations including European Schengen, Russia and Türkiye regions.
• Multiple citizenship is permitted.
Citizenship Model with Investment Program (CIP)
Montenegro Special Citizenship Program by Investment (MSCIP) will require investment in economic (business) activities that will contribute to the development of Montenegro’s economy and/or investment in real estate and/or payment of funds into the Montenegro Budget Special Account.
For this model, applicants must contribute EUR 200,000 grants to the government and also invest at least EUR 250,000 in development projects (hotels, resorts, IT Park, Commercial Real Estate) that create jobs and contribute to Montenegro development.
(When this program was launched, the government grant is EUR 100,000, which has just increased to EUR 200,000.)
Real estate investment conditions
– Total investment requires EUR 350,000 or more investment: Invest EUR 250,000 in several development projects that were previously approved by the government in the Montenegro region (north) that have not been developed, or
– Invest EUR 450,000 in several development projects previously approved by the government in the Maju Montenegro (South) area. Additional donations of EUR 100,000 in the form of government costs are required.
– You can invest in hotels and 5 Star Resorts: whether you can fully develop your own hotel for EUR 5 million or you can buy limited stock equity in other hotels starting from 250,000 euros. Some hotels also have an option to buy individual hotel rooms.
– Investing EUR 450,000 in an approved development project in the capital, Podgorica, or in the popular coastal area of Montenegro, if liked.
– Application fee: The applicant must deposit EUR 15,000 for applications for themselves, EUR 10,000 for up to four family members, and EUR 50,000 for each family member outside the first four.
Estimated costs with investment for families 4:
EUR 545,000: If invested in the northern region that has not been developed
EUR 745,000: If invested in the southern region of the sea that is developed
Documents required for the application
• Nomination of
• Valid passport (certified copy)
• Identity card (certified copy)
• Police Certificate from Origin Countries (Certified Copies)
• Examination of the complete test of the Montenegrin Citizenship Commission
• Personal profile (including education and labor history) (certified copy)
• HIV Medical certificate (disease cannot be read and contagious) (certified copy)
• Color photos in JPG format (40mm x 50mm)
• Birth certificate (certified)
• Proof of asset (minimum 450,000 US $)
• Company Employment/Registration Letter (to prove that the applicant is employed by himself and is a director or shareholder of the company and proves the source of income) (certified)
• Health insurance policy that applies in Montenegro
Cost
In addition to the government application fee of EUR 15,000 for applicants, EUR 10,000 for up to four applicant family members, and EUR 50,000 for each next family member:
Government complete test costs
Main Applicant: EUR 7,000
Depending (up to 4): EUR 10,000
Dependent (after fourth): EUR 1,500-Plus
Advisor and lawyer costs
EUR 75,000 Advisors and Lawyer costs (separate notary fees). Full investment must be transferred to the GCI unit
Paid after pre-approval: If the application is not approved, the investment will be paid back to the applicant.
Who else is eligible to register as a family member? Family members will be considered as:
• Married couples
• 18 -year -old applicant children, who depend on the applicant
• Children of applicants under the age of 18 years, who can get Montenegrin citizenship at the future
Montenegro CBI versus other CBI in Europe
The current price that applies to the CBI scheme in Europe:
Montenegro: EUR 250,000
Malta: EUR 900,000
Cyprus: EUR 2,150,000
Bulgaria: EUR 1,000,000 (closed)
Moldova: EUR 100,000 (suspended/closed)
The benefits of investors/taxes
A investor can easily start a business in Montenegro. Foreign investors are subject to the same conditions as domestic investors when they come to establish a company and make investments.
The Montenegro tax system is one of the most competitive in Europe. With a 9 percent personal income tax rate, companies operating in Montenegro have a low tax burden, thus maximizing their operating profit.
