It’s mandatory for all CBI program applicants to make this donation and its amount is firmly set at €100,000. It’s currently around 71%, but is forecasted to increase by 5% when the country has to start repaying its Chinese loan of $1 billion for the highway that will connect the Montenegrin coast with Belgrade, Serbia. After all, you’re not just looking to gain a passport but make some money in the process too. You can visit the EU Schengen area visa-free for 90 days in any given 6 month period, but you aren’t allowed to become a resident or work there. As a former US citizen, I grew up with the notion that it was possible to fly just about anywhere in the world without worrying about visas. We’re sure that as the country develops and foreign capital comes in, the economy will develop beyond tourism, energy, and agriculture. Montenegro flirted with having a CBI program back in the mid-2000s. It’s also extremely easy to start a business. Years of debates and discussions followed. An alternative here would be to buy whichever property you’d like and aim to become a permanent resident. Montenegro has opened up the program for three years. "Nomad Capitalist" and "Go Where You're Treated Best" are registered trademarks, Offshore Banking: How to Open an Offshore Bank Account Legally, The best offshore banks (even for Americans), The easiest place in the world to open a bank account, The 5 countries with the safest offshore banks, Offshore Company: How a Foreign Corporation can Reduce Taxes, Labuan: Asia’s secret haven for an offshore corporation, Second Passport: How to Get Dual Citizenship, The Fastest Countries in The World to Become a Citizen, Get second residency and pay no tax in these 20 countries, Montenegro’s Citizenship by Investment Program. Montenegro is highly connected to Europe and all of its major hubs. Travel to Montenegro to take a citizenship oath and provide your biometric data. The difference from other CBI programs is that Montenegro’s has an expiration date – 31st of December 2021. The VAT is 19%. Want to Enjoy Citizenship in Montenegro Like These Nomad Capitalists? The same can be said of Malta, which has both a residence and citizenship by investment … The sex appeal. Tara Canyon – the second deepest canyon in the world – is nearby, part of Durmitor National Park. But if you don’t care about being in Europe, then the Caribbean programs – sometimes at a third of the cost – will make more sense. Invest €450,000 in the southern coastal region. The Montenegro citizenship by investment programme was launched in 2019. ⤅ How Does the Montenegro CBI Program Compare? It’s also extremely easy to. So, if you do business in China, a Montenegrin passport could be a good addition to your passport portfolio. No. Montenegro’s CBI program will excite high-net-worth investors because of its nearly-EU status. Montenegro is a very young country, which has interesting implications for interested investors. Towns like Budva, Herceg Novi, and Tivat – the entire Bay of Kotor – is where the luxury-dripping villas and yachts filled with champagne are located. Citizenship or Residency by Investment? Montenegro’s Citizenship by Investment Program. Montenegro flirted with having a CBI program back in the mid-2000s. Gather up all of the required documents and choose which real estate investment project you’d like to go for. You won’t be able to access the UK or Ireland. Arton Capital presents Montenegro Citizenship by Investment at a cocktail reception in the Capital Club, Dubai, UAE. Technically, you could apply for the Montenegrin passport today – there is nothing holding you back. Towns like Budva, Herceg Novi, and Tivat – the entire Bay of Kotor – is where the, And if you want to invest in the capital of Podgorica instead, you will also need to invest the, However, given how pristine the nature of the north is, tourism has also picked up in this region. At some point, you’ll have to bite the bullet to reap the rewards. The rules differ per country, but essentially, it’s like buying a passport. 250 000 EUR investment in land in an undeveloped territory in the north of the country. It has access to the glimmering Adriatic, some of the prettiest mountain landscapes in Europe (featuring ski resorts), historic walled towns, and is well on its way to becoming the next Croatia. Expected to happen in 2025, citizens of Montenegro will then be able to travel, live and work in whichever EU country that they choose. Everyday low prices and free delivery on eligible orders. Expected date to join the EU is 2025. Real estate is overvalued. Malta. Go through a preliminary check with your agent. However, it’s still hindered by two things: widespread corruption and public debt. But if you don’t care about being in Europe, then. That’s because it regained its independence only in 2006 after it’s citizens cast a ballot to split up the State Union of Serbia and Montenegro. Like other well-meaning governments, Montenegro has launched its citizenship by investment program to attract foreign capital and give its citizens a better life through increased development and economic activity. Yes, you can add family members to the application. Please let me know whether it allows or not and if it allows what are the conditions on which it allows. To diminish the reliance on tourism, the government has realized that it pays to be foreign capital friendly and has tried to steer a direct course for political and economic stability. This makes the country a bit more expensive than neighboring Serbia, for example, but it also improves its economic stability. Your email address will not be published. Currently, about a dozen countries have implemented such a program. However, given how pristine the nature of the north is, tourism has also picked up in this region. The newest kid on the citizenship by investment (CBI) block is Montenegro and we’re sure it’s going to give other CBI programs a run for their money. The scheme will run only for 3 years and will permane… With a 300 kilometer dramatic coastline and multiple pristine mountainous areas, it’s little wonder that Montenegro attracts over two million visitors per year. We can help. Jovana is our lead R&D Associate at Nomad Capitalist. All of your dependents can also be added to the application, including spouse, children under the age of 26, as well as your parents if they’re 65 years or older. No language or history test. Option 1 – Northern Real Estate Investment. Residence tax planning, second citizenship by investment, ancestry citizenship, investment passports, and second passport portfolios ... Nomad Capitalist is a one-stop shop for international tax strategy spearheaded but someone who has been in my shoes and walked the path themselves. Montenegro Citizenship By Investment: The Ultimate Guide Become a citizen of Montenegro and get a passport offering visa free travel to 120+ countries. There is a VAT of 19% charged in Montenegro, so you will want to invest the bare minimum so as not to add to your total bill too much. Alternatively, you could go for a ski resort in Kolasin or a hotel in the Lake Skadar region. They don’t really have any other means of growing their economy and raising capital except through tourism and selling their citizenship. It might not be an island like most other countries running a CBI program, but in a sense, Montenegro is similar. As one of the most stable and prosperous countries in the Balkans, Montenegrin citizenship offers several noteworthy benefits. The absolute minimum that you need to invest is €350,000. While there are new countries starting to offer citizenship by investment programs, others no longer exist. Please let me know whether montenegro allows dual citizenship under this scheme. Even though plenty of Nomad Capitalists have been lured to vacation in Montenegro and revel in its luxuriousness – including Andrew, who has a vacation home there – not many have realized that it also presents some extraordinary investment opportunities. They can often outbuy western investors because they buy more on impulse and less on numbers. If you could invest money to make money and then get an extra passport on top of it, wouldn’t you? Purchase government-approved real estate worth €250,000 in northern Montenegro or €450,000 in southern Montenegro, and hold for 5 years. If Montenegro joins the EU, this is your cheapest path to eventual EU citizenship. The list of such properties is currently inaccessible on the official website of the program – perhaps the perfect metaphor of the new the program and how inexperienced the government and its officials are in running it. We’ve included the euro under the list of pros of Montenegrin citizenship, but it can really go both ways. Finally, there’s also the sex appeal that Montenegro has: luxurious, Mediterranean, safe, and stable. But once you do, you need to spend 5 days in Montenegro over the period of 5 years to retain the citizenship and get your passport extended. So, if you do business in China, a Montenegrin passport could be a good addition to your. The offer sure is tempting. Plus, Montenegro is well-connected to the rest of Europe. We’ve included the euro under the list of pros of Montenegrin citizenship, but it can really go both ways. They got a considerable amount of political flack over it and quickly shut the talks down. Plus, Montenegro is well-connected to the rest of Europe. In other words, you will be able to sell it after a holding period of five years. If we’ve got your attention with Montenegro’s CBI program as one of the most competitive in Europe, here’s how you can make it happen. Donations in Government funds in the amount of 100 000 EUR. For instance, the Queen’s Beach Hotel in the Budva riviera and Hotel Durmitor in the north. Still unsure? Spend just 5 days in Montenegro in a 5 year period to renew your passport. That’s why they’ve overpriced their CBI program, hoping that people are willing to pay more on the assumption that they will be full-fledged European Union members rather soon. Heavily reliant upon tourism, thanks to its natural beauty, the country doesn’t have much other choice but to capitalize on its European location and quality of life. A couple investing in the luxurious coastal area will have to shell out €575,000. If we know anything about the Balkans, it is that things tend to move slowly here. Montenegro invites qualified investors for its Citizenship by Investment Program. https://www.artoncapital.com/global-citizen-programs/montenegro Many websites say that it does not allow but you have stated that it allows. Montenegro ranks only 67th out of 180 countries by Transparency International. In other words, they don’t care about the price per meter if the feeling is right. Montenegro has unilaterally joined the euro zone, so all economic activity within its borders happens in this European currency. Second, passport quality. Energy and agriculture sectors play a significant role in Montenegro’s economy, but it is tourism that accounts for nearly a third of the country’s GDP. You simply have to apply, make the investment, and obtain your passport. Your information is confidential. The soonest that will happen is in 2025. Obtaining a second residency and second citizenship enhances your freedom and your options. However, with a minimum investment of at least €350,000, getting a Montenegrin passport is far more expensive than a residence permit. In other words, you will be able to sell it after a holding period of, Hopefully, you will also sell at a higher price and offset some of the, The south of Montenegro basically spans the entire coast of 300km. Russians are already looking for investments in the country. . That consists of a €100,000 donation and a €250,000 investment in real estate in the norther regions of the country. For example, over the last decade, investment from Russia came to about a third of Montenegro’s GDP. There are also plans to get visa-free access to China, just like Serbians and Bosnians have done. Take the money you save and invest overseas to earn higher returns than at home. As with every CBI program where the government runs a pre-approved list of real estate properties that you can invest in, real estate is overpriced. The Nomad Capitalist team has helped hundreds of people create and execute holistic offshore plans to help them legally reduce their taxes, become dual citizens, and live the Nomad Capitalist lifestyle of success, How to Minimize Real Estate Taxes as a Nomad, 3 Tiers of Passports: How to Define the Best Passport in the World. If we know anything about the Balkans, it is that things tend to move slowly here. The country uses the euro. You aren’t required to visit Montenegro or live in Montenegro to obtain your citizenship. Out of respect to those who engage our services, we don't provide personalized advice or referrals unless you engage us. It’s a fund designated by the government to help underdeveloped areas of the country that would certainly not get foreign investment otherwise. Go through a preliminary check with your agent. 4. If you do want a Montenegrin passport, the country has recently launched a citizenship by investment program. While some CBI programs will allow you to invest in any real estate that you deem suitable, others will make you stick to the officially approved properties, as does Montenegro. If traveling to these countries is important to you and you plan to make Montenegro’s passport your main one, this is definitely something to keep in mind. ⤅ Montenegro Citizenship by Investment FAQs. In a way, we think that Montenegro’s CBI program was set up for them. And if you want to invest in the capital of Podgorica instead, you will also need to invest the €450,000 amount. “As a dual citizen, I decided to invest in Kolasin to get the Montenegrin passport. Another important thing about investing in Montenegrin real estate is that the CBI program has split the country into two distinct regions – the northern and the southern – and depending on where you want to invest, the amount will differ. So, to sweeten the pot, the Montenegrin government has decided to throw in a passport and secure those investments. If traveling to these countries is important to you and you plan to make Montenegro’s passport your main one, this is definitely something to keep in mind. Become a citizen of Montenegro and get a passport offering visa free travel to 120+ countries. While the western world has been largely oblivious to the fact that Montenegro exists, Russians are active investors there. Before we get to the nitty gritty of Montenegro’s CBI program, we want to get you up to speed with what a CBI program is exactly. Passport Rank. Malta and Cyprus will both set you back considerably more. Unfortunately, the UK and Ireland are not part of the Schengen zone, so you are not able to travel visa-free. Jack S. There are multiple ways to optimize your tax in Montenegro. I’m hoping that when it becomes part of the EU, my family can settle in Germany, where I do the majority of my business.”, “Gaining access to the Balkan peninsula has been a really great move for me as an investor. Submit your application and wait up to 6 months for an outcome; due diligence will be conducted. Sure, there can be no guarantees, but it’s a country that’s safe and stable, a member of NATO (highly beneficial for a small country) and is already using the euro, so the chances are high. You will be expected to do one or more of the following: The investment amount is determined by the government, but it is also influenced by what benefits the country has to offer. ⤅ Montenegro’s Citizenship by Investment Program. For many, it will be worth the gamble and they will commit to investing €365,000 – the cheapest way by far to buy a European citizenship at the moment. Buy Nomad Capitalist: How to Reclaim Your Freedom with Offshore Bank Accounts, Dual Citizenship, Foreign Companies, and Overseas Investments by Henderson, Andrew (ISBN: 9781980435099) from Amazon's Book Store. Countries that lack foreign investment, are overly reliant on one or two industries, or simply have no other way to give their citizens a better life, are typically the ones to launch these programs. Unlike other CBI programs, Montenegro doesn’t require you to spend any time living in the country in order to obtain the citizenship. So in total Montenegro will require EUR 350,000plus other fees and investors issued permanent residence within a month and citizenship within 6 months. The Montenegro Special Citizenship by Investment Program (MSCIP) will require investments in economic activity (business) that will contribute to the economic development of Montenegro and/or investment in real estate and/or payment of funds into a special account of the Budget of Montenegro. The International Monetary fund also estimates that the program will have wider reverberations on the economy, accounting for over 11% of its GDP. If you want to invest in the highly developed south, essentially the Adriatic coast, you will need to spend €450,000. The total required investment is slightly more than we’d find optimal, but it is a really good proposition when you consider that the country will soon be part of the European Union. So, if Europe is a focal point for you in terms of doing business, it might make more sense than buying a citizenship in St Lucia, for example. There are multiple ways to optimize your tax in Montenegro. Each application must pay $100,000 for citizenship. You will only need to travel to Montenegro when your application is approved and you need to collect your actual passport. MONTENEGRO Citizenship by Admission Program: Program start date January 2019: Investment Type (Proposed) Touristic Hotel Investments. Real estate is quite liquid in both of these places, so it shouldn’t be a problem to sell and even make a profit. Its GDP grew 4.9% in 2019 and it’s finally making western investors look its way. Applicants can apply by investing in one of several government approved real estate development projects. They got a considerable amount of political flack over it and quickly shut the talks down. On the southern coast of Montenegro and Podgorica: Minimum 60 rooms 5 Star Hotel with at least 15 Million EUR investment and 80 employees Montenegro Citizenship by Investment FAQs, Taiwanese Visas and Citizenship: the Ultimate Guide, The Guernsey Permanent Residence by Investment Guide, Jersey Residency by Investment: the Ultimate Guide. And, with more than a dozen programs to choose from, how does Montenegro’s program stack up? You could also try renting, which will bring an estimated 4-6% annual return. Can you afford to take a gamble and buy a European citizenship for cheap to get the full benefits of living and working anywhere in the EU in five years time? Is the program of this small Balkan country worthy of your money and your time? One could argue that the real estate available to CBI investors in Montenegro is overpriced, and it is. This citizenship process is designed for wealthy people who want a fast track to dual citizenship and a second passport, or even multiple citizenships and an entire passport portfolio . Once Montenegro joins the EU, the passport rank will grow significantly. The Corruption Perception Index that is put together by Transparency International has ranked Montenegro as 67th out of 180 countries in the world. Access to the United States. It also has a cap at 2,000 applications, so if you’re interested, you better hurry up. The follow large investment projects in Montenegro in construction, tourism and agriculture also qualify for citizenship by investment in Montenegro. The Corruption Perception Index that is put together by Transparency International has ranked Montenegro as 67th out of 180 countries in the world. It can take anywhere from 3 to 6 months to obtain your passport. Donate €100,000 to Montenegro’s government development fund. Montenegro is a country that allows dual citizenship, so obtaining your second, third or subsequent passport won’t be a problem. Montenegro is not a member of the EU yet, but it’s predicted to join by, Even though plenty of Nomad Capitalists have been lured to vacation in Montenegro and revel in its luxuriousness – including Andrew, who has a vacation home there – not many have realized that it also presents some, Before we get to the nitty gritty of Montenegro’s CBI program, we want to get you up to speed with, Countries that lack foreign investment, are overly reliant on one or two industries, or simply have no other way to give their citizens a better life, are typically the ones to launch these programs. Montenegro is not a member of the EU yet, but it’s predicted to join by 2025. Both Moldova and Montenegro passports do not have a visa free travel to United Kingdom, Canada, Australia and United States. Investment Options for Montenegro Citizenship Option 1 Investment from € 350 thousand A non-refundable contribution to the specially created state fund of Montenegro, the funds from which will be directed to the development of local government structures in accordance with the Law of Montenegro "On Regional Development". Written by Jovana Vojinovic i Nomad Ultimate Guides | Second Residency and Citizenship Invest... 12 … This includes second residencies, dual citizenship, and tax residency. First, the total investment required is one of the lowest in Europe. Many people feel that the number of countries a passport allows you to visit defines the quality of that passport. This is citizenship by investment – a specific means set out by a government through which an individual can obtain that nation’s citizenship by making a qualified investment in the country. Malta is the only citizenship by investment program that sells access to both the European Union AND the borderless Schengen Area. That’s why they’ve overpriced their CBI program, hoping that people are willing to pay more on the assumption that they will be full-fledged European Union members rather soon. This makes the country a bit more expensive than neighboring Serbia, for example, but it also improves its economic stability. 1. It’s definitely far above the competition in nearby Moldova and Bulgaria. 2. Montenegro’s coastline is a hidden gem full of stunning views and world-class marinas. The real attraction of Montenegro is its imminent membership in the EU. Initially, we felt that Montenegro didn’t offer much to the Nomad Capitalist, but we said the same thing about the Turkish CBI program when it first launched. However, if you’re set on a Montenegrin passport, you’ll need to become the proud owner of an apartment or a condo in a resort of some sort. For example, If you want to invest in the highly developed south, essentially the Adriatic coast, you will need to spend, . Development projects involve construction of five star hotels or mixed-type complex in the coastal region or the Capital of Podgorica or at least four stars in the northern or central region save for the Capital of Podgorica, requiring atleast Well, it’s already appreciated 10%. . send me(single) a comlete computation for montenegro in the northern part(kolasin) and include your service fee/professional fee and all the requirements needed. Her full-time job is to scour our global network to identify new banking, immigration, and lifestyle options for our clients. No CBI program in the world comes without its cons and here are Montenegro’s main pain points. However, that’s always the case with government-approved lists of projects that foreigners are allowed to take part in. There is no telling if they will renew it, but if they don’t, now is the time to apply to obtain the cheapest European citizenship that’s out there. Montenegro has unilaterally joined the euro zone, so all economic activity within its borders happens in this European currency. It’s mandatory for all CBI program applicants to make this donation and its amount is firmly set at. Montenegro is a limited citizenship scheme only accepts 2000 applications. However, from the few snippets available online, you can only invest in hotels and resorts. In recent years, more and more high-net-worth individuals have taken the plunge to obtain citizenship by investment and we expect to see the trend continue to grow. You’ll get access to 120+ countries visa-free with your Montenegrin passport, including all of. Before we explain why Montenegro is a great proposition, are you one of those people who would first have to ask: “Where is Montenegro?”. But we’d recommend you discuss your financial situation and long-term goals with the Nomad Capitalist team before taking the leap. Lake Skadar, Kolasin and Zabljak are all places where you can invest just, You don’t have any sanctions, restrictions or bans on entry to the EU, the US, the UK, or Canada, You’re able to confirm that your income is legal, You can verify that the source of the money you’ll use to pay for the investments is legal, You have an impeccable reputation, both personally and in terms of doing business. As with every CBI program where the government runs a pre-approved list of real estate properties that you can invest in, real estate is overpriced. Montenegro is a hyper-popular travel destination and, thanks to its favorable taxes, Montenegro now offers a very efficient and productive environment for investors. Plus, it has one of the highest public debt to GDP ratios in South Eastern Europe too, and rising. A citizenship by investment program is an instrument that a national government of any country in the world can utilize to raise capital and help their economy develop. Considering that it’s come this far in just 15 years (Montenegro regained its independence in 2006), it really is an undiscovered destination for western investors in Europe. Up until very recently, the world had no idea Montenegro existed. No language tests, No business experience. But what we will say is this: Montenegro is an ideal location with pristine nature and a balmy climate. These are mostly rural villages, away from the coastal and ski resorts of the country. More concrete rumors about Montenegro’s CBI program were swirling around for the past five years until it was officially announced in July 2018. As perhaps the only person who covers the second citizenship scene to have actually been through three CBI processes personally (St. Lucia, Dominica – which I aborted, and Comoros), I’m uniquely qualified to speak on this subject. Within the three years that it will run, only 2,000 people will be able to get a Montenegrin passport. but for a pop in Montenegro would do the job and the last country that I have had people asking about people, … It might not be an island like most other countries running a CBI program, but in a sense, Montenegro is similar. It will totally depend on your situation whether doing business in euros will help or hinder your investor agenda. And then there is the northern part of Montenegro, which is mostly undeveloped. This site uses Akismet to reduce spam. Then, it’s passport holders will get visa-free access to all Schengen countries. Is Egypt set to offer a golden visa through a citizenship by investment programme? What matters is that they are financially dependent on you. But more so than to the government, a CBI program has to be designed and priced just right to make sense for a western high-net-worth individual to engage with. And even though the marina is now owned by the Investment Corporation of Dubai, which shelled out $200 million for it, there is still plenty of Adriatic charm left in the old walled villages. Malta and Cyprus will both set you back considerably more. 15 000 EUR for single Government Application fee plus each member 10 000 EUR up to 4 members, each member more is an additional 50 000 EUR. The town of Zabljak, surrounded by untouched mountains, has plenty of outdoor and extreme sports opportunities. Montenegro is also a leading candidate for EU accession and it has been working hard to integrate EU legislation into its national law too. The steps that you must take are the following: 1. Required fields are marked *. There are so many interesting infrastructure and industrial projects to get involved in.”, “The Nomad Capitalist team has helped me obtain a Montenegrin passport, advising me to invest in a coastal property. There is no doubt in our mind that with the growing numbers of tourists and foreign investment, the region will come to life. For instance, Ireland once offered citizenship in exchange for investment in the country. That’s how long the due diligence and application processing takes. Direct flights and low-cost airline carriers not only bring business travelers to the country but an ever-growing number of tourists too. You will agree to invest a pre-set amount of money into a country and will be granted citizenship in that country in return. This is a great second passport to have.”. While we value comments that add to the conversation, we reserve the right to edit or delete anything that is abusive, threatening, libelous, spammy, or is otherwise inappropriate. As with all post-Soviet countries, Montenegro suffers from corruption. investment in real estate in the norther regions of the country. And that’s not to mention that about a third of all foreign companies in Montenegro are owned by Russian citizens too. “The program will have significant positive effects in generating revenues, primarily through attracting new investments,” they have said. Save my name, email, and website in this browser for the next time I comment. It also has the sex appeal as a tourist destination; one of the world’s most luxurious yachting marinas is located there, called Porto Montenegro. If you’re already in the know, feel free to scroll down. Here are the main pros of obtaining and holding on to your Montenegrin passport. Direct flights and low-cost airline carriers not only bring business travelers to the country but an ever-growing number of tourists too. You aren ’ t care about the Balkans, it launched on January 1st, 2019,! 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