Business EnvironmentMontenegro citizenship by investment: 5 Things to know

Montenegro citizenship by investment: 5 Things to know

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Montenegro citizenship by investment is a program that allows people to obtain citizenship in the country with a significant financial investment in the country. This can include investing in real estate, making a financial contribution to the government, or investing in a business.

The investment amounts can vary but typically involve a substantial financial commitment. The government launched the program to attract foreigners to fund national projects and boost the country’s economic health.

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What are the benefits of Montenegro citizenship by investment program?

The Montenegro Citizenship by Investment Program provides several benefits, including:

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Fast processing times: Applications for citizenship can be processed in as little as 90 days.

Physical residency requirements: There is no requirement for applicants to reside in Montenegro to maintain their citizenship.

Visa-free travel: Montenegrin citizens have visa-free or visa-on-arrival accessibility to over 120 nations.

This includes the European Union and the United Kingdom.

Dual citizenship allowed: Montenegro allows dual citizenship, so applicants can retain their current citizenship while also obtaining Montenegrin citizenship.

A strong economy and political stability: Montenegro is a developing country with a growing economy, making it a worthwhile investment.

Low taxes: Montenegro has a flat rate of 9% and no inheritance or wealth taxes, making it an attractive destination for retirees or those seeking to minimize their tax burden.

There are no language restrictions for the Montenegro Citizenship by Investment Program.

What are the requirements of Montenegro citizenship by investment?

Here are the requirements to be eligible for the Montenegro Citizenship by investment program:

Residency: You must spend at least 90 days in the country for two years before applying for citizenship.

Investment: The main requirement for citizenship by investment in Montenegro is to make a significant investment in the country’s economy. The investment options include:

A minimum investment of €250,000 in real estate or A minimum investment of €450,000 in government bonds.

Background checks: Applicants must pass a thorough background check, including a criminal record check, to ensure they do not pose a security risk to the country.

Health insurance: You should possess valid health insurance for the entire duration that you spend in Montenegro.

Processing fee: The processing fee for citizenship by investment in Montenegro is €15,000 for the main applicant and €10,000 for each additional family member.

Here are some sectors in Montenegro where you can make investments:

Five-star hotels and resorts
Agriculture
Wood Pressing
Fisheries

Apart from the main applicant, their family members may also apply for citizenship:

Spouse of the main applicant
Main applicant’s children of legal age (18)
Children under 18 can gain citizenship after turning 18

 What Is the procedure for getting a Montenegrin passport through the citizenship via investment program?

The procedures for obtaining Montenegrin citizenship through the Citizenship by Investment program typically involve the following steps:

Apply: The first step is to submit an application to the Montenegrin government, along with all the necessary documentation, such as proof of investment, proof of residence, and background checks.

Due Diligence: The government conducts a thorough background check on the applicant. This includes a criminal record check and verification of the source of funds.

Approval: Once the government has completed its due diligence, the application will be approved or denied.

Investment: Once the application has been approved, the applicant must invest in the country’s economy.

Oath of Allegiance: The final step is to take an oath of allegiance to the country and pay the citizenship fee

Issuance of passport: After the above steps are completed, the applicant will be issued a Montenegrin passport.

It’s always recommended to verify the most current information with the Montenegrin authorities or consult immigration experts like Global Residence Index to guide you through the process.

 What is the time frame for Montenegro citizenship by investment program?

The time frame for obtaining a Montenegrin passport through the Citizenship by Investment program can vary, depending on several factors, such as the completeness of the application, the applicant’s background, and the processing time of the government authorities.

Typically, the process of obtaining Montenegrin citizenship through the Citizenship by Investment program can take anywhere from 6 to 12 months, although it can be longer in some cases.

Once the application is approved, and the required investment is made, the government will issue a Montenegrin passport to the applicant and his/her family members.

It’s important to note that the processing times are subject to change and that the laws and regulations are subject to change.

 Does Montenegro allow dual membership?

Montenegro allows dual citizenship, meaning that an individual can simultaneously hold citizenship in both Montenegro and another country.

It is important to keep in mind that the laws regarding dual citizenship can vary among countries. You should always check with your current country of citizenship to ensure that they also allow dual citizenship before taking steps to obtain citizenship in another country.

It is also good to be aware that some countries may restrict the exercise of certain rights or the performance of certain obligations while holding dual citizenship, such as military service or voting.

As a dual citizen of Montenegro, you will have the same rights and obligations as any other Montenegrin citizen, including the right to live and work in the country, the right to vote, and the obligation to pay taxes.

Last Words

Montenegro is a small country that lies in Southeast Europe on the Balkan Peninsula. The country has a population of around 620,000 people and a diverse cultural heritage influenced by its history as part of the former Yugoslavia and its location at the crossroads of different civilizations. Montenegro became independent from Serbia in the year 2006.

It is now a parliamentary democracy and a potential candidate for membership in the European Union. If you can make a sizeable financial contribution to the country, you and your family may enjoy all the benefits of Montenegro Citizenship.

 

Source: Reader’s digest

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