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Montenegro

Citizenship by Investment Program

The Citizen by Investment program of Montenegro was officially announced as a new economic citizenship scheme on Oct 1, 2018 for foreign investors. The decision came into force on Jan 1, 2019 and will apply until Dec 31, 2021, and offers investment citizenship to 2000 foreign investors.

The model of the special citizenship scheme will be a Donation (€100,000) plus Investment (of minimum €250,000) model. This means applicants must donate a lump sum to the government and also invest in government-approved development projects (such as hotels, resorts, IT parks, commercial real estate) that create jobs and develop Montenegro.

Total investment requires a minimum investment of €350,000 or more. Additional due diligence, passport fees and including additional family members bring in extra costs.

investment


Donation to the Government + Investment in approved development project and/or real estate

+ €15,000 for the first applicant
+ €10,000 for each extra family member, up to four maximum
+ €50,000 for each extra family member after that

+ €100,000 Government fee

+ €250,000 Minimum investment in government-approved development project or real estate in an underdeveloped region of Montenegro (northern and central regions except Podgorica), or €450,000 Minimum investment in government-approved development project or real estate in the developed region of Montenegro (the capital Podgorica and coastal regions)

Requirements


- Main applicant must be 18 years old or older.
- They must have made a payment to the payment account provided by the Montenegrin government to the amount of:

€15,000.00 for the applicant; €10,000.00 for each family member, up to four members at maximum; and €50,000.00 for each next family member.

- They must also deposit to the ESCROW account provided by the government an amount of:

€100,000.00 intended for the development of less developed local self government units,

+ At least €450,000.00 for the purpose of investing in some of the development projects in the Capital of Podgorica or the coastal region of Montenegro or at least €250,000.00 for the purpose of investing in some of the development projects in the northern or central region of Montenegro, save for the Capital of Podgorica;

- Applicants must have not been sentenced in Montenegro or another state by a final and binding court decision to an unconditional prison sentence of more than one year for a criminal offense prosecuted ex officio, or the legal consequences of the conviction for such criminal offense have ceased;

- An international due diligence agent must also give a positive opinion on the applicant and their application, including proof of the origin of the money intended for payment and investment.

Restricted Nationalities


No nationality is officially restricted

dual citizenship


Dual citizenship is recognized in Montenegro. You are not required to renounce your previous nationality to become a citizen of Montenegro.


Documents Required


  • Certified copy of passport
  • Certified copy of ID Card
  • Original or Certified copy of Birth Certificate (if applicable)
  • Original or Certified copy of Marriage Certificate (if applicable)
  • Evidence of Health Insurance
  • Medical Certificate
  • dual citizenship Yes
  • Family members included Yes
  • land ownership Yes
  • Physical residence required No
  • Personal visit required No
  • Language skills required No
  • Interview required No
  • Investment Single $350,000
  • Investment Family 4
  • Minimum annual income
  • Time to citizenship 6
  • Time to permanent residency
  • Visa-free countries 123
  • Financing available No

Country details

Montenegro
EUR
382
Podgorica
Europe
Montenegrin
666730
Montenegro is a country in South East Europe, nestled between Kosovo, Serbia, Albania and Croatia, with a long, picturesque coastline on the Adriatic sea. It was formerly part of Yugoslavia and gained its independence from Serbia following a referendum in 2006.

It has a population of around 650,000, with a balanced mixture of Christians and Muslims. Its two main languages are Serbian and Montenegrin, but English is relatively well-understood on the coast and in its capital, Podgorica.

Its currency is the Euro. Montenegro is not a part of the European Union, but it is a candidate country and is expected to join by 2025, after which it will be part of the Schengen area.

The Montenegrin passport is ranked 42nd in the world, and holders can enjoy visa-free travel to 123 countries including EU Schengen states, Russia, Turkey, Singapore, etc. A visa is needed to travel to the United Kingdom, Canada, Australia and United States.



Visa Free Travel

With your new passport from Montenegro you'll be able to access 123 countries visa free
>

Taxes

Montenegro levies a 9% tax rate on most forms of income, including personal income from salaries or investment and capital gains.

The 9% level is also used for their corporate income tax rate, including worldwide income, interest income and capital gains. This makes Montenegro’s corporate tax rate quite competitive compared to many other countries, especially those of the west.

In 2016, the Montenegrin government introduced an 11% rate for any personal income that is above the national average of €750 a month. That means that the first €750 earned per month is levied with a 9% tax, while anything above that amount is subject to the 11% rate. This income tax rate also applies to the personal worldwide income of residents.
An exception to the flat rate is that non-residents must also pay a 5% tax on interest income.

There is also a local surtax of 15% of whatever has been paid in tax to the government as income tax. This surtax is paid to the municipality where an individual is domiciled.

There is a standard consumption tax (VAT) rate of 21%. However, there is also a reduced rate of 7% for certain products like bread, milk, books, medicine and computers.

Montenegro also operates a zero rate for products for export and gasoline used for international travel.

This should not be construed as tax advice. Flag Theory | Passports.IO has access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.

  • Property tax Yes
  • Transfer tax Yes
  • Inheritance tax Yes
  • Net worth tax No
  • CFC law No
  • Tax residency days 183
  • Personal income tax rate 9%
  • Capital Gains tax rate 9%
  • Investment income tax rate 9%
  • Territorial taxation No

Procedures

Flag Theory | Passports.IO and our qualified attorney in Montenegro will handle all paperwork, and guide you through each step of the process to ensure that it is as fast, efficient and pain-free as possible.

First, our lawyers will conduct a due diligence check on you to ensure that you are eligible and meet the criteria to apply for the program and that your application has a high chance of approval. We help you with the online application process and transfer your initial investment to an escrow account (through escrow.com) as per the requirements of the Montenegrin government. The Investment will be made only in case of application approval.

We will handle all paperwork with the Government of Montenegro, which will conduct its own due diligence check. This process takes between 4 and 6 months.

Once your application is approved in principle, you will need to make the investment in the government approved project or development of your choosing.

You will then receive a citizenship certificate and be able to apply for a passport.

For further information on Montenegro’s citizenship by investment program and detailed procedures, contact us for a free private consultation.

Consultation with

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