Overall territory is split into regions of Bay of Kotor, Budva Riviera and two towns in the south of country – Ulcinj and Bar. Montenegro’s most famous places are the Lake Skada with its large bird reserves that takes the nature’s beauty to a whole new level and it has three national parks that have to be in must-see list. National parks have many mountains and lakes to enjoy and see as well as activities to add to experiences, like river rafting.
Montenegro is a beautiful location that attracts many tourists, but more and more, it attracts people who want to enjoy the beauty full time. In following paragraphs see the procedure of obtaining citizenship by investment and the benefits of relocation as a citizen in Montenegro.
Montenegro Citizenship by Investment Program (CIP)
Relatively new program is a Citizenship by investment in Montenegro. This came to be in year 2018 when Montenegro had chosen to make this program as an economic strategy to interest more and people to invest in return for living as a citizen in beautiful Montenegro.
The overall process is starting with the person who has enough funds to apply for citizenship by investment and the sums are starting from 350 000 EUR. The application for this type of citizenship is limited to 2 000 participants and the application is led by the Ministry of Foreign Affairs. There is option to invest in this program can be by minimal funds that start from 350 000 EUR with the investing to businesses, in forms of donations and a option to give large investments that start from 2 million EUR and go up.
The large investment programs offer the option to give investment to hotels, resorts, agriculture, wood processing and fisheries. Overall this type of investments are very large and are evaluated in every category, for example the agriculture investment starts from 2 million EUR, fisheries and processing products start from investment of 3,5 million EUR and investment in wood processing starts from 4 million EUR and up.
Procedure of obtaining a citizenship by investment in Montenegro
The procedure starts with the application to Citizen by investment program in Montenegro. Application is submitted with requirement of needed documentation that is notarized passport or identification card copy. Applicant must also bring the birth certificate and health insurance policy that is valid in Montenegro. If applicant is married, he or she must bring a marriage certificate. Another thing needed is medical report that gives assessment of health and lastly the origin of funds that are used for this application and the payments.
The approval and review of applications is happening in the three week period and the final approval in which the applicant can get a citizenship is six months.
Payments for obtaining citizenship by investment in Montenegro
The program of citizenship gain is by a Grant of 100 000 EUR and additional investment of 250 000 EUR which means that the applicant must donate this sum to government and create jobs by this investment. The activities raised by this investment will economically develop Montenegro and contribute to its growth as a country.
The conditions to these sums are that the 250 000 EUR must be invested to projects of development that are approved by the Government and is in the underdeveloped area. With investment of 450 000 EUR is the same but the investment must be in the developed area of Montenegro.
The 100 000 EUR is a donation fee to the Government of Montenegro and the application fee overall is 15 000 EUR for the initial application and all other family members 10 000 EUR. After the 5th member it is 50 000 EUR.
Total investment sums are starting from 350 000 EUR and can go up in cases of investors requirements and overall terms and conditions.
Benefits of citizenship by investment in Montenegro
Benefits and the reasoning behind choosing citizenship by investment in Montenegro is exactly the instantaneous citizenship that can be gotten in the 3 month period. Montenegro is also a candidate for European Union and is added to Schengen area by the year 2025. Montenegro has very low prices for real estate and property which is very attractive to buyers and investors interested in living in Montenegro.
The citizenship lasts for the whole life of person applying to citizenship, and the family is also subject to this citizenship application. There are no restrictions on the stay required to keep the citizenship in the country, person can travel and still have the citizenship with no obligations to stay for certain amount of days in Montenegro.