Montenegro
Montenegro is a small Balkan country on the Adriatic Sea, bordered by Croatia, Bosnia and Herzegovina, Serbia, Kosovo, and Albania. Montenegro provides breathtaking natural scenery with majestic mountains, crystal-clear waters, and charming towns. It is preferred by many people thanks to its rich cultural heritage and a long history influenced by various civilizations throughout the centuries. Recently, Montenegro has gained popularity among tourists and investors due to its attractive investment opportunities, low taxes, and business-friendly policies.
Steps and Timeline for Acquiring Montenegrin Residency Through Investment:
Montenegro used to offer a Citizenship by Investment (CBI) program, which allowed foreign investors and their families to obtain Montenegrin citizenship in exchange for investing in the country. The program required a minimum investment of EUR 250,000 in an approved development project in the country’s underdeveloped northern region or EUR 450,000 in the southern part. However, the program concluded on December 31, 2022.
- Eligibility Check:
- Investment Selection:
- Application Submission:
- Physical Presence:
- Background Check:
- Residency Approval:
The process for acquiring Montenegrin residency through investment typically involves the following steps:
- Eligibility Check: Prospective investors should confirm their eligibility for the program by reviewing the program requirements and ensuring they meet the necessary criteria.
- Investment Selection: Investors could choose one of two methods.
- Real Estate Investment: Investors can invest in a real estate project or purchase outright real estate with no minimum set investment amount.
- Alternatively, investors could create and register a legal entity in Montenegro, open a bank account, rent or purchase office space, and rent or purchase residential property for personal use. Annual costs associated with company operations start from EUR 3,000.
- Application Submission: The investor applies with all necessary supporting documents and proof of investment.
- Physical Presence: Annual costs associated with company operations start from EUR 3,000.
- Background Check: The Montenegrin government conducts a due diligence check on the investor and their family members included in the application.
- Residency Approval: Within approximately one month, successful applicants receive a residence permit valid for one year and renewable annually. After holding residence status for five years, they can apply for Montenegrin permanent residence.
The timeframe for acquiring Montenegrin residency through investment can vary depending on various factors, including the processing time of the government and the investment complexity.