Montenegrin citizenship through investment

When I first moved to Montenegro four years ago, the idea of "citizenship for investment" seemed something far away and, frankly, a bit mysterious. It seemed that it was only for billionaires who could buy their own island. But it turned out to be much more accessible and, most importantly, more profitable than I thought.

Let's be honest: why do you need a second citizenship at all? Everyone has his or her own reason. It is important for someone to travel around Europe without visas, for someone to do business abroad in peace, and for someone who simply dreams of a house by the sea. In Montenegro, you can find all of this, and with the bonus of stunning nature and a quiet rhythm of life.

The Citizenship for Investment Program is your ticket to new opportunities. As a real estate specialist, I see more and more people taking this step, choosing Montenegro not only for its landscapes, but also for the freedom it offers.

Now I will tell you why Montenegrin citizenship is not just another fashion trend, but a real opportunity to improve your life. What is a citizenship program and what is its appeal? What steps do you need to go through to get a passport? What costs should be reckoned with and what to avoid? We'll break it all down so that you can make an informed decision and open a new page in your life. Are you ready? Then let's get started.

Who needs Montenegrin citizenship and for what purpose

You know, I often ask my clients: "Why Montenegro?" And the answers are different every time, but they all boil down to one thing - it is a country that combines stunning natural beauty and favorable conditions for investors. Montenegro is not just a place for vacation, it is a country with huge potential. Citizenship program for investment - a real way to get a European passport and freedom of movement, to develop business without borders. By investing money here, you not only get citizenship, but also become a part of the country, which is actively moving towards EU membership. A pleasant bonus - visa-free access to more than 120 countries. Oh, and real estate on the coast... It's something special!

Who are the people who choose Montenegro?

Businessmen and entrepreneurs

For many entrepreneurs, a second passport is not a luxury, but a necessity. Imagine a businessman who is actively developing his project in Europe. With Montenegrin citizenship, he can travel without visas and conclude deals directly, without long waits and bureaucracy. In addition, Montenegro offers attractive business conditions: low taxes, easy company registration and access to the growing European markets.

Real-life example: Laurent, an IT entrepreneur from France. Laurent founded a small IT company in Paris, but due to high taxes and difficulties with bureaucracy, he decided to look for a new base for his business. After learning about Montenegro's citizenship program, he decided to invest in buying a hotel on the coast to get a passport. "Montenegro has become a great platform for me to develop my business. It's much easier to do business here and, importantly, I can freely travel around Europe, meet partners and expand my business. It's also a great place to live," says Laurent.

Families seeking peace of mind and comfort

Many people want to get away from the hustle and bustle of the city and find a place where they can relax and feel at home. Montenegro has become a safe haven for families looking for security, beautiful natural surroundings and a friendly atmosphere. Moving to this country allows families to enjoy clean air, fresh seafood and a leisurely pace of life where children can grow up in peace and parents can relax from the hustle and bustle.

Real-life example: Vorobiev family from Minsk. A couple of years ago, the Vorobiev family thought about moving. Minsk was noisy, and the constant traffic jams were tiring. When they first visited Montenegro, they literally fell in love with this country. In a few months they found a cozy house in Budva and obtained citizenship. The children entered an international school where they study in English, and now they have many friends from all over the world. The parents have found calmness and confidence in the future here, and every evening is a walk along the promenade with a view of the sunset.

Parents planning quality education for their children

For parents thinking about the future of their children, Montenegrin citizenship opens up many opportunities. It is not just a "passport for traveling", but the key to European education. Children can study in international schools that follow high standards, and this gives them a chance to enter the leading universities in Europe. For example, school in Tivatwith children from all over the world, is renowned for its excellent training, and parents do not have to worry about the future of their education.

Young professionals and freelancers

With the advent of remote working, more and more people are choosing to settle down with a focus on comfort and lifestyle. Montenegro is ideal for such nomads. The internet here is stable and the cost of living is low compared to other European countries. You can work overlooking the sea and in the evenings enjoy the local cuisine or explore the mountain trails. Montenegro also offers attractive tax incentives for remote workers and business owners, making it an excellent choice.

Real-life example:Aliya, freelancer from Kazakhstan. Aliya worked remotely and lived in different countries, but always dreamed of having her own house by the sea. When she heard about the possibility of obtaining Montenegrin citizenship, she was immediately interested. After investing in a small apartment on the coast, she got her passport and can now work with a view of the Adriatic. "Montenegro for me is tranquility and inspiration. I can jog along the sea in the morning and enjoy the sunset in the evening with a glass of wine. And all this without having to constantly renew visas," she shares.

Travelers and adventurers

For those who seek freedom of movement and thirst for adventure, the Montenegrin passport gives them the opportunity to explore the world without visa barriers. With this citizenship it is easy to travel around Europe, Asia and many other countries without thinking about complicated visa procedures. And if your soul is asking for adventure, Montenegro itself offers all conditions: diving, hiking, yachting and trips to ancient cities with rich history.

Montenegro's citizenship by investment program opens up many opportunities for people from all over the world. Whether they are entrepreneurs looking to expand their business, investors looking for new promising markets, or families seeking a better future for their children, Montenegro offers comfort, stability and many benefits.

The examples of Laurent, the Vorobievs and Aliya show that citizenship of this country has become for them not just a legal document, but a key to new opportunities. For some it is freedom of movement, for others it is an opportunity to diversify their assets or enjoy life in a beautiful coastal country. Montenegro attracts with its prospects, and it may be just what you need to take the next step in your business or life.

So why not take advantage of this opportunity? After all, by investing today, you are opening doors to new horizons and creating the basis for a stable and successful future.

Advantages of a Montenegrin passport

Montenegrin passport holders enjoy a number of significant advantages. Here are the main advantages that attract many investors:

1. Visa-free regime and freedom of movement

A Montenegrin passport grants visa-free access to 123 countries including:

• All Schengen countries (27 states);
• Turkey, Singapore, Hong Kong and other popular destinations;
• Visa-free or simplified entry to several Middle Eastern and Asian states.

This makes the Montenegrin passport a great choice for those who travel frequently for business or pleasure.

2. Prospects for membership in the European Union

Montenegro is actively pursuing EU membership, and this could happen in the coming years. For holders of Montenegrin citizenship, this means potential access to all the benefits of European citizenship, including free movement and work in EU countries, as well as residency rights.

3. Ease of doing business

Montenegro offers favorable conditions for business, including low corporate taxes and simplified company registration procedures. This is particularly attractive for entrepreneurs who want to use the country as a springboard for business development in Europe.

4. Opportunity for the whole family

A Montenegrin passport can be issued not only for the principal applicant but also for family members. This enables the spouse, children and other dependents to receive the same privileges, including the right to study, work and access to health care.

5. High quality of life

Montenegro is famous for its magnificent nature: from mountainous landscapes to picturesque beaches of the Adriatic Sea. The country's low crime rate, stable economy and good ecology make it a great place to live. And the moderate cost of living makes this region particularly attractive for relocation.

6. Access to education and health care

Montenegrin passport holders can use the services of local educational and medical institutions on an equal footing with EU citizens. Montenegro offers a number of international schools as well as quality medical care.

7. Reasonable tax rates

• Corporate tax (corporate income tax) totals 9%This is one of the lowest rates in Europe;
• Tax on dividends also amounts to 9%.
• Personal income tax - fixed rate 9% For all income categories.
• Standard VAT rate amounts to 21%. Preferential VAT rate в 7% applies to essential goods, including food, medical products and certain services in the tourism sector.
• Capital gains tax (e.g., in the sale of real estate) is also 9%which makes investing in real estate more profitable.
• Social contributions for employers amount to about 10,7% of the employee's paycheck.
• Social contributions for employees — 24%The following are health insurance, pension, and unemployment insurance.

How the citizenship by investment program works in Montenegro

Attention! The program of obtaining Montenegrin citizenship for investment was officially ended on December 31, 2022. This decision was taken by the government after discussions with the European Union, which expressed concerns about similar programs in countries seeking EU membership. Since January 1, 2023, new applications for citizenship under this program are no longer accepted. But it is possible to obtain a residence permit for investment in real estate in Montenegro.

History and objectives of the program

You know, the history of the creation of the citizenship through investment program in Montenegro begins in 2019. This program was designed to attract foreign investors to invest in the country's economy, thus contributing to its development and modernization. Through this program, Montenegro aims to improve the infrastructure and quality of life of its citizens.

Who can participate in the program

Anyone who meets certain criteria can participate: they can be entrepreneurs, investors and their families who want to expand their horizons and gain additional opportunities through a second passport. Of course, future candidates need to have no criminal record and a stable financial status.

Main stages of obtaining citizenship: from application to receiving a passport
The process starts with selecting a suitable investment project and preparing the necessary documents. This is followed by the official submission of the application to the relevant Montenegrin state authorities. The next step is to check the reliability and legitimacy of the sources of finance, as well as a general analysis of the candidate's dossier. The final step is waiting for the government's decision and receiving the passport.

Steps in the process of obtaining Montenegrin citizenship

1. Selection of an object for investment

The applicant had to select one of the approved sites for investment. This could be:

• Investment in real estate (e.g., buying a share in a hotel or apartment complex).
• Contribution to state funds (required contribution to support infrastructure).

The minimum investment amount varied by region:

• €250,000 - in northern and less developed areas.
• €450,000 - in coastal and central areas, including Podgorica.

In addition, there was an additional contribution in the amount of €200,000 to the state fund.

2. Preparation and verification of documents (Due Diligence)

A number of documents were required to participate:

• Foreign passports and identity cards.
• Documents confirming sources of income and financial solvency.
• Certificates of no criminal record.
• Payment documents confirming investments and contributions.

Documents underwent a thorough review to confirm the legitimacy of the origin of the funds and the absence of a criminal record. This included international checks and financial history analysis.

3. Submitting an application

After passing the verification process, the application with the full set of documents was submitted to the Montenegrin authorities. Not only the main applicant, but also his/her spouse, children and other dependents could participate in the process.

4. making investments

The investor had to transfer funds to escrow accounts to confirm the readiness of the investment. The funds were unlocked only after the citizenship application was approved. If the application was rejected, the funds were returned to the investor.

5. Processing and approval of the application

After the application and investment was submitted, the government would review the application and conduct additional checks. This process took from 3 to 6 months. In case of successful approval, the applicant was granted Montenegrin citizenship and a Montenegrin passport.

6. Obtaining citizenship and passport

Once approved, the applicant and his family would travel to Montenegro to obtain passports. This could be organized through personal presence or through a representative.

Minimum investment requirements

Investing in real estate: minimum amounts and possible locations for investment
Investing in real estate is one of the most attractive and popular ways to participate in the program. The minimum investment amount is 250,000 euros for properties located in the northern part of the country and 450,000 euros for properties in coastal areas. It can be an investment in hotel complexes, residential apartments or commercial real estate.

Investments in governmental funds: amounts, terms and purposes
In addition to real estate, investments can also be directed to special state development funds. Here, investors must contribute 100,000 euros to a fund that facilitates the financing of projects aimed at environmental, social and economic improvement.

Comparison of investments in northern and southern regions of Montenegro
The northern part offers more affordable prices and less congestion, which can be ideal for nature lovers and silence. The southern regions are more dynamic and in demand among tourists, providing high rental yields.

Next, we will move on to a detailed look at the citizenship procedure, as well as talk about the advantages that a Montenegrin passport opens up.

Procedure for obtaining citizenship

Step 1: Preparation of documents

The first thing you will need to do is to prepare a comprehensive package of documents, which usually includes:

• Completed application form,
• A valid passport,
• A certificate of no criminal record,
• Financial documents proving the source of funds.

This is the foundation without which you can't get anywhere, so this stage should be approached with utmost care.

Step 2: Selecting an investment object and submitting an application

Choosing a property to invest in is perhaps one of the most exciting moments. You will have to decide whether you will invest in a cozy apartment by the sea or prefer a strategically important commercial project in the capital. Once you have selected an object, you will apply to the relevant state authorities for approval of your investment and further citizenship.

Step 3: Due diligence and its importance

Once an application is submitted, the next important step is the due diligence process, which is a thorough verification of the documents submitted and the identity of the applicant. This is a key point that ensures the legitimacy of the entire process and protects the economic interests of the country.

Step 4: Waiting for approval and issuance of citizenship

Once your investment application has been successfully vetted and approved, the last step is to wait for the government's decision. If everything goes well, you will receive your new passport, which will open doors to a new world of opportunities.

Process times typically take between 3 and 6 months, from application to passport receipt, making the program one of the fastest in Europe.

Which investments are preferred for citizenship

Why Montenegro real estate popular with investors
Real estate in Montenegro, especially on the coast, is in particular demand not only because of the attractiveness of the location, but also because of the high potential rental yield. This country attracts tourists with its clean Adriatic Sea, mild climate and cultural heritage, which makes investing in local real estate a profitable business all year round.

Promising regions for real estate investment
One of the most sought-after regions is, of course, the coast - Budva, Bar, Kotor and Tivat. These towns attract tourists with their beauty and developed infrastructure. The capital city of Podgorica also attracts the attention of investors due to its strategic location and economic potential. Mountain resorts such as Zabljak and Kolasin are becoming increasingly popular among lovers of active winter vacations.

Dukley Gardens

from € 1,130,000

Montenegro, Budva

Mountain Retreat by Dukley

from € 420 000

Montenegro, Kolashino

Villas Elleven

from € 420 000

Montenegro, city of Budva, village of Krimovica

Horizon

from € 425 000

Montenegro, Tivat

Lustica Bay: Centrale

from € 429 000

Montenegro, Tivat

Tivat Gardens 

from € 120,000

Montenegro, Tivat

Examples of properties eligible for the program
One example of such an investment is apartments in new buildings in Budvawhere the average cost is about 3000 euros per square meter. You may also consider investing in a hotel business in Tivat or developing a hillside villa in Kotor.

Comparison of Montenegro citizenship program with similar programs of other countries

Despite the end of the citizenship for investment program in Montenegro, it is useful to understand how it compared to other popular programs around the world. Below is a comparison of conditions and requirements by key parameters:

Main differences and comparison

1. Cost of the program Montenegro was relatively low cost among similar programs, with minimum investments starting at €250,000 for the northern regions and €450,000 for the coast. This makes it comparable to programs in Portugal and Greece, but significantly cheaper than Malta and (previously) Cyprus.
2. Speed of obtaining citizenship Montenegro offered one of the fastest solutions for obtaining a passport - in just 3-6 months, while in Portugal and Greece one must first live several years in residency status before applying for citizenship.
3. Advantages of a European perspective Montenegro's program was attractive because of the prospect of joining the European Union. This would give its citizens the same rights and freedoms of movement as citizens of other EU countries. However, these benefits are already available in Malta, as the country is a member of the EU and the Maltese passport provides full travel and residence opportunities in any of the EU countries.
4. Investment flexibility Unlike programs in Turkey or Cyprus, which required a higher investment, Montenegro offered the option of choosing between buying real estate and investing in infrastructure, which allowed to find the most profitable option for applicants. There were also no residency requirements, making it attractive to busy investors.
5. Taxes and doing business Montenegro's low corporate tax rate (9%) and personal income tax (also 9%) was a significant advantage compared to many other European countries. Portugal and Malta offer favorable tax regimes, but rates can be higher and tax conditions more complex.

Montenegro's citizenship-by-investment program offered a unique combination of affordability, ease of processing and the benefits of living on the Adriatic. It attracted investors because of the prospect of EU membership, low taxes and beautiful nature. Now that the program is closed, similar solutions can be sought in countries such as Portugal, Turkey and Greece, depending on your goals and budget.

Possible risks and how to avoid them

Montenegro does offer tempting opportunities to obtain a second passport through investments. The right approach to investment selection and compliance with all program requirements minimizes possible risks and opens doors to new opportunities for you and your family. It is not only a way to improve your passport portfolio, but also a great opportunity to invest in a stable and attractive European country.

Conclusion

I remember 3 years ago a client, let's call him Czeslaw, came to me. Tired after another business trip around Europe, he sighed and said: "Ilya, I need something more stable, calm. I want to invest money and get a second passport. Give me freedom." And then Montenegro became the very salvation for him. Quick registration, comfortable life by the sea and the opportunity to travel around Europe without unnecessary questions at the border. He invested in a small villa in Budvaand a couple months later I got my passport. It all seemed so simple.

But now things have changed. The citizenship by investment program has been closed since the end of 2022, and new applications are no longer accepted. There are various reasons for this - EU pressure, stricter controls, and generally speaking, times are changing. Many who managed to apply before the deadline are still waiting for their decision, but those who have already boarded the last train have a better chance.

However, as the saying goes, one door closes - another opens. A residence permit for the purchase of real estate is still available. And if you still dream of a house near the Adriatic, where you can quietly meet the dawn with a cup of coffee, it is a real option. Getting a residence permit is not so difficult, and after a few years you can think about permanent residence, and who knows what will happen next?

The bottom line is that Montenegro remains an attractive country to live and invest in. The same calm beaches, the same friendly people and ease of doing business. If citizenship is now more difficult, then residence permit is quite affordable and logical step. So if you're still considering whether to invest in this corner of Europe, let me know. I've been here for over four years now, I know where to start and how to make the process as easy as possible. As the locals say, "Polaco!" - that is, take your time, but move forward with confidence.