Montenegro falls under the category of one of the desirable places across the globe. The nation is situated on the Balkan Peninsula in the Southeastern region of Europe and is famed for its unparalleled natural beauty.
Launched in 2018, the Montenegro investment program has been able to catapult many high net worth individuals of late. A primary perspective of the program is to increase the economic activity of the country.
In this blog below, we will uncover the Montenegro citizenship program and the various aspects related to it.
Overview About The Program:
As discussed earlier the Montenegro citizenship program was launched in 2018 to attract economic investments for the country. Interested applicants who are ready to acquire citizenship in the country are required to fulfill certain basic criteria.
These include purchasing a real estate property and making a contribution to the government fund. Additionally, there are certain advantages of obtaining a Montenegro passport which is discussed in the article below.
What Are The Basic Requirements for Owning a Montenegro Passport:
Montenegro citizens are required to fulfill certain basic conditions before obtaining a passport. These fall into two categories that include:
- Investors who want to reside in the country must meet the age limit of 18 years and above.
- There should be no criminal evidence.
- Investors shall successfully pass the due diligence check and shall confirm the origin of the funds.
Montenegro passports are also available for normal individuals like:
- Children under and above 18 years.
Investment Options For Montenegro Citizenship:
Investment options in Montenegro fall under two categories primarily:
- An investment of EUR 450,000 to development projects in the capital of Podgorica or in the coastal regions
- An investment of EUR 250,000 to development projects in northern or central Montenegro, excluding Podgorica
Update: Starting 2022, applicants are required to make an additional contribution of €100,000 in the form of a government fund donation for the Innovation Fund.
Detail Procedure of Obtaining Citizenship by Investment in Montenegro
Primarily, when it comes to obtaining citizenship in Montenegro, it is mostly done thoroughly due diligence. One of the prime benefits of the above-mentioned process is that it reduces the overall risk of refusal for any application.
Once the due-diligence check is completed then the complete list of documents required is processed. This includes filling up the questionnaire and signing up the application form. After the documents are duly submitted then his family is invited to live in Montenegro for 30 days.
The overall time required for acquiring the citizenship of Montenegro is around 3-6 months.
Benefits of Living in Montenegro:
There are plenty of pros of living in Montenegro out of which some are outlined below:
- Montenegro is blessed with a bustling real estate market. This means there are ample options available for investing and buying.
- The cost of living in the nation is pretty low which makes it an apt choice for people with families.
- The residency process for non-EU citizens is straightforward. Provided you meet all the criteria, there is a chance of becoming a Montenegro citizen in about a decade.
- Pleasant weather and beautiful scenery account for one of the prime benefits. What’s more unique is that the country is located on the Adriatic sea which makes it easy to travel around.
Types of Visa Offered By Montenegro:
The residency process of Montenegro is similar to the one in the Schengen Area. There are around four types of options available for the visa requirement which are:
- Employment Visa
- Study Visa
- Starting a Company
Montenegro is slowly becoming one of the best destinations for relocation. From favorable tax benefits to healthcare and property prices, the country will soon become a hotspot for expats shortly. Montenegro’s government extended its economic citizenship program until 31 December 2022.
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