Located on southeast Europe on the Balkan’s Adriatic coast, Montenegro which means “Black Mountain” is bordered by Croatia, Albania, Serbia, and Bosnia and Herzegovina. Its administrative capital city is Podgorica but its cultural center is the older city of Cetinje, which is also its historical capital. The official language is Montenegrin.
Montenegro emerged as a sovereign state in 2006 and as of 2020, has a population of 621,873. A member of NATO, the country’s currency is the euro and is an official candidate for EU membership by 2025. The tiny republic boasts of some of the prettiest mountain landscapes with numerous ski resorts, and access to the glimmering Adriatic Coastline.
The country has one of the fastest-growing economies in the Balkans and is home to one of the world’s most luxurious yachting marinas, the Porto Montenegro. Moreover, the citizens of Montenegro not only have visa-free access to Schengen countries, but they can also work, settle or study there.
Advantages and Benefits of a Montenegro Passport and Citizenship
The country’s natural beauty isn’t the only reason why people flock to its shores. Being one of the most prosperous and stable countries in the Balkans, Montenegro citizenship offers many noteworthy benefits:
- A strong passport – Is the Montenegro passport powerful? Yes, it is ranked 45th according to Guide Passport Ranking Index. The Montenegro passport countries access list is long, with visa-free travel to more than 120 countries including all Schengen countries, Singapore, and Russia.
- Affordable income taxes – Montenegro has one of the lowest personal income taxes in the world at only 9-11%. People on a temporary residence permit qualify for tax residency once they spend a minimum of 183 days in the country.
- European lifestyle – The country follows a European lifestyle infrastructure and is also on track to becoming an EU member, two things that are very attractive to expats.
- The minimal requirement for residency – The country does not require any physical residency requirements. Applicants need only to visit Montenegro for five days over the course of five years to renew it.
- Dual citizenship – Montenegro recognizes dual citizenships so there’s no need to renounce your current citizenship.
- Tax relief – There are no taxes on capital gains, wealth and inheritance, as well as worldwide income
What are the Montenegro Citizenship Types?
As with any other country, there are many ways to obtain Montenegrin citizenship.
Citizenship by birth
A child will be given Montenegrin citizenship if it at the moment of birth:
- Both parents are citizens of Montenegro
- At least one parent is a citizen of Montenegro and the child is born in Montenegro
- At least one parent is a citizen of Montenegro and the other parent has unclear citizenship or is stateless if the child is born outside the country
- At least one parent is Montenegrin and the child is born outside the country, and isn’t qualified for another citizenship
Citizenship by descent
This only applies to children born outside the country to one parent who is a Montenegrin citizen and another parent of different nationality if the citizenship application is submitted by the child himself after turning 18 but before reaching the age of 23, or by parents before the child turns 18. This also applies to any child adopted by at least one parent who is a citizen of Montenegro.
Citizenship by marriage
This applies to individuals who have been married to a Montenegrin citizen for three years and have legally lived in the country for at least five years.
Citizenship by investment
Individuals can apply by investing in one of various government-sanctioned real estate development projects. The investment ranges from EUR 250,000 to EUR 450,000. An additional government aid of EUR 100,000 is also required, as well as other pertinent fees.
Montenegro Citizenship by Investment Program
The country of Montenegro officially announced its new economic citizenship scheme for foreign investors on the 1st of October 2018 and the program was enforced on the 1st of January 2019. The program allows foreigners to be given citizenship after passing due diligence checks and making the appropriate investments.
The following documents must also be submitted for a successful application:
- Citizenship approval application form
- Original birth certificate
- Original marriage certificate
- Notarized passport copy
- Health insurance policy valid in Montenegro
- A statement detailing the origin of funds to be used in the investment
- A complete medical report certifying good health
Montenegro Citizenship by Investment Cost
One of the best value options for a second passport is the Montenegro citizenship scheme with a grant plus investment model. Applicants must contribute a donation to a government fund and invest in various development projects that help develop the country and create jobs.
The Montenegro citizenship cost includes the following investments:
- EUR 250,000 in previously approved development projects in underdeveloped areas in the north of the country, or EUR 450,000 in previously approved development projects in the developed area in the south of the country.
- EUR 100,000 as a donation to the government. This money goes into the development fund to support infrastructure in the country’s non-tourist areas
Additional fees to obtain Montenegrin Citizenship Through Investment
On top of the investments mentioned above, applicants are also required to pay the following:
The application fees:
- EUR 15,000 for a single applicant.
- EUR 10,000 for each dependent (capped at four) that the main applicant wants to include in the application.
- EUR 50,000 for each additional dependent (for the fifth and next dependents).
Due Diligence fees:
- EUR 7,000 for a single applicant.
- EUR 10,000 for a family up to 4 dependents.
- EUR 1,500 for the fifth and next dependents, per person.
Requirements of the Montenegro Citizenship by Investment Program
Montenegro wants to retain the country’s integrity so passports are not issued to anybody who has the capability to produce the required sums. Therefore, the following Montenegro passport requirements must be fully satisfied, as well.
- Main applicant must be at least 18 years of age
- Applicants must be in good health
- Applicants must hold no criminal record
- Applicants must undergo due diligence checks to gain approval
- Investors must prove the source of fund for the investment
Comments (0)
No comments found.