A tiny Mediterranean country, settled between the borders of ex-Yugoslavia member states, is in the spotlight for its rapid and sustainable growth. The beautiful blend of stunning mountains and clear sea, combined with an average of 240 sunny days per year, makes Montenegro a destination attractive for tourists, investors and global citizens alike. Since 2006, when the country gained its independence, many steps towards continuous prosperity have been made. Today, Montenegro is an EU candidate country and just recently joined NATO as its 29th member state.
Its wild beauty and unique geographical position are not the only elements that make this destination so fascinating. Political aspects - heavily improved in the last couple of years - are of immense importance as well, including stability, economic growth, security, legacy and quality of living. Infrastructural development is a key driver for progress across Montenegro and a critical enabler for productivity and sustainable economic growth. In this sector, the country has marked an incredible progress. From highway development with a total worth of EUR 1.1 billion to submarine power cable between Montenegro and Italy, a wide range of projects seem to pave the way towards a prosperous future. The value of the biggest investment projects varies from EUR 400 million to EUR 1.1 billion and has brought Montenegro to the center of attention of many media and various stakeholders.
For businessmen and investors, the corporate tax rate of just 9% is a clear signal of a positive investment climate. Furthermore, property tax ranges between 0.01% and 1% while real estate transfer tax rate is 3%. Since its independence, many appreciative investors from various countries have chosen Montenegro as their second home. This inspired the Government of Montenegro to create a unique Citizenship by Investment Program. The program will begin as of 1st of January 2019.
Here is everything you need to know about the Montenegrin CBI Program:
The program is designed to last for a limited period of three years and it will accept up to 2,000 applications. Such a program will support the development of the northern and coastal region and will be transparent.
The aim of the program is to support tourism development in all regions. Taking this into consideration, the development project should be a hotel or mixed complex. The list of approved projects will be published by the Governmental Authority.
The applications will be submitted and processed through a certified agent, and the application criteria are defined as follows:
• EUR 15,000.00 for the applicant fee
• EUR 10,000.00 for each family member, not exceeding four family members
• EUR 50,000.00 for each following family member
• EUR 100,000.00 Governmental Fund Donation
• Investment amount of EUR 450,000.00 in a development project in the Capital City of Podgorica or the Coastal Region or EUR 250,000.00 for the purpose of investing in a development project in the northern or central region of Montenegro, excluding the Capital City of Podgorica
• Proof of the origin of the funds
• Satisfactory due-diligence check
Passport holders will definitely enjoy the benefits of citizenship by being granted visa-free entry to 123 countries, making them truly global citizens in their new home of Montenegro.
Many of our clients would agree with us in saying that the right time to invest in Montenegro is NOW! Our team is ready to answer your questions and provide you with full assistance in regards to your consideration of Montenegro as an attractive market.
Bojana Minic, Investment & Immigration Consultant
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