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Wednesday, October 28, 2020

Kotor Montenegro
C-Suite Lifestyle

Benefits Of The Montenegro Citizenship By Investment Program (CIP) For CEOs, CFOs, And Business Leaders

Montenegro Citizenship by Investment Program (CIP) is ranked among the top 10 programmes in the world for global citizenship. Montenegro offers the most affordable citizenship or passport program in Europe – a real estate investment of €250,000 and there is an obligatory donation for the primary applicants of €100,000 (total cost: €350,000). According to the latest World Bank 2019 annual ratings, Montenegro is ranked 50th among 190 economies in the ease of doing business ratings. It is also considered to be one of the easiest places to start a business globally.

Montenegro Citizenship by Investment Program (CIP) was established to attract foreign direct investment and encourage high-net-worth investors (HNWIs) to settle and conduct business in Montenegro, thereby boosting the nation’s economy. Montenegro’s fast-developing tourism industry needs direct investments to be able to host the always-increasing number of tourists, who wish to enjoy the last secret gem of the Adriatic Sea.

One of the key features of the Montenegro Citizenship by Investment Program (CIP) is its investment policy, whereby non-EU citizens (including Russian, Indian, Ukrainian, Arab and Chinese citizens) can obtain Montenegro citizenship by making specific investments.

There are two routes to choose from to qualify for the program: The investors may choose from 2 real estate investment options; they can invest €450,000 in the developed areas close to the seaside or investment of €250,000 in the less developed Northern and central regions of the country.

The successful applicants must also pay a contribution of €100,000 per application to a special state fund. The process’ fee is €15,000 for a single applicant. Moreover, up to 3 family members, the processing fee is €10,000 and more €50,000 for each additional family member.

Budva- Montenegro

Practical details of the Montenegro Citizenship by Investment Program (CIP)

  • Investment Options 1
    Contribution to the state: €100,000
    Investment into government-approved real-estate developments (less developed Northern and central regions): €250,000
    The total cost: €350,000
  • Investment Options 2
    Contribution to the state: €100,000
    Investment into government-approved real-estate developments (developed areas close to the seaside): €450,000
    The total cost: €550,000

As a young state, it truly offers a unique potential for investors seeking mobility, safety, security, opportunity, and increased quality of life.

  • Processing time: 3 months (Permanent residency issued in 3 weeks and citizenship will be decided in 6 months.)
  • Direct citizenship: Yes
  • Residency requirements: Yes
  • Dual citizenship: Allowed

Kotor Montenegro

Visa-free travel: 124 countries

A passport from Montenegro, an Adriatic country with a population of 620,000 which has joined NATO and aspires to European Union membership, allows its citizens visa-free travel to 117 countries (including the Schengen area and the other EU Member States, Russia and Turkey).

  • Visa-free access in Asia: Bangladesh*; Cambodia*; Hong Kong; Kyrgyzstan*; Laos*; Macao; Maldives*; Nepal*; Singapore; South Korea; Sri Lanka**; Timor-Leste*; Uzbekistan.
  • Visa-free access in Europe: Albania, Andorra, Austria, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Faroe Islands, Finland, France, Germany, Greece, Greenland, Hungary, Iceland, Italy, Kosovo, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Monaco, Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, Russia, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Ukraine, Vatican City.
  • Visa-free access in Africa: Cape Verde Islands* Comores Islands*; Egypt*; Eswatini (Swaziland); Gambia; Guinea-Bissau*; Kenya*; Madagascar*; Malawi*; Mauritania*; Mauritius*; Mayotte; Mozambique*; Reunion; Rwanda*; Senegal*; Seychelles*; Somalia*; Tanzania*; Togo*; Tunisia; Uganda*; Zambia
  • Visa-free access in Oceania: Cook Islands; French Polynesia; Micronesia; New Caledonia; Niue; Palau Islands*; Samoa*; Tuvalu
  • Visa-free access in the Caribbean: Aruba; Bonaire; St. Eustatius and Saba; Cuba; Curacao; Dominica; French West Indies; Haiti; Jamaica*; St. Lucia; St. Maarten; St. Vincent and the Grenadines; Trinidad and Tobago
  • Visa-free access in Americas: Argentina; Bolivia*; Brazil; Chile; Colombia; Costa Rica; Ecuador; French Guiana; Nicaragua*; Panama;
    Peru; Uruguay
  • Visa-free access in the Middle East: Armenia; Georgia; Iran*; Israel;Jordan*; Lebanon*; Palestinian; Qatar*; Saudi Arabia*; Turkey; and the United Arab Emirates

Note: * Visa on arrival ** eTA

To qualify for the Montenegro Citizenship by Investment Program (CIP), the main applicant must be over 18 years of age, meet the application requirements, and make both a qualifying investment into a government-approved project and a qualifying contribution. Once received by the relevant government department, applications are processed within three months.

A NATO member, Montenegro is on the agenda for future enlargement of the European Union by 2025. It already uses the euro as its currency and is in the process of integrating EU legislation into national law.

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Ryan Miller

Ryan Miller

Global Assignment Editor
Ryan Miller is the Global Assignment Editor at CEOWORLD magazine. He covers anything and everything related to CEOs, CFOs, CIOs, senior management executives, business leaders, and high net worth individuals worldwide, whether lists or lifestyle, business or rankings. During his five-year tenure at CEOWORLD magazine, he has employed his expertise in data science across several roles. Ryan was previously responsible for data modelling and analytics, as well as secondary research, on the CEOWORLD magazine Custom Research team. He can be reached on email ryan-miller@ceoworld.biz. You can follow him on Twitter at @ceoworld.