Montenegro Citizenship by investment

 

Montenegro Citizenship by investment 

Montenegro government announced new model of citizenship by investment program which offers fast track citizenship to foreign investors. The Montenegrin citizen by investment is the newly launched special citizenship by investment scheme in 2018 after Moldova.

The economic citizenship program will be open for applications from Jan 1, 2019, and the scheme is limited to 2000 applications and will run for three years. Montenegro is expected to join the EU by 2025 and after that, the country becomes a part of the Schengen area. The newly launched citizenship scheme is expected to raise over 700 Euro million-plus creating job and raise the living standards in the country. The government will set up a special fund for the development of less developed areas in the north. Tourism and property sector will receive a major boost in investment.

To qualify for citizenship, foreigners qualify for citizenship by investing in real estate property in developed or under-developed areas in Montenegro.

Real Estate Development projects

Applicants must pay the following:

1. 450,000 Euro to the account of the state of Montenegro for the projects in the coastal region and Podgorica, or
2. 250,000 Euros in the northern and central region except Podgorica

Government fee

100,000 Euros government fee intended for less developed areas.

Application fee

15,000 Euros for an application for a single applicant
10,000 Euros for up to 4 family members, and
50,000 Euros for each next family member
10,000 Euros for Due Diligence
A fee will be provided

Application Process

  • The application process will be efficient and most transparent.
  • – Foreign investors must have no criminal record and will undergo due diligence and vetting process.
  • – CBI scheme limited to 2000 applications and will run for a limited time of three years.
  • – The names of investors who obtained citizenship through investment scheme will be published in the gazette.
  • – Applicants will submit requests through an authorized agent who had previously signed a contract with the state of Montenegro.
  • Applicants will submit requests through an authorized agent who had previously signed a contract with the
    state of Montenegro.

Citizenship +permanent residence

Montenegro will grant permanent residency under the scheme in 3 weeks and will issue citizenship and passport
after 6 months to qualified investors who meet all the criteria. The government announced this economic
citizenship scheme will be designed in the house within the institutions and outside influence will not be allowed.

Montenegrin Passport

As of 2018, Montenegrin passport has visa-free travel to 123 countries (EU, Russia, Turkey, etc.)Please note this
passport has no visa-free travel to the UK, Canada, USA, etc.

Montenegro is at the heart of discovery, beauty, and opportunity. Long considered the pearl of the Balkans, this
nation represents the ideal symbiosis between a natural and modern world. As one of the fastest-growing
economies in the Balkans. Montenegro is quickly becoming a key destination for investors seeking mobility,
security, and increased quality of life.

Qualification

To qualify for residency or citizenship, applicants must fulfill one of the investment options in addition to meeting
the following criteria:

o Be a non-EU citizen.
o Possess a valid passport or another foreign travel document.
o Submit all documents and information required under the program and successfully pass the due diligence and background verifications, including the ones relating to the source of funds used to make the qualifying contribution and investment.
o Hold no criminal record
o Apply through one of the licensed agents under the program.

Why Choose Montenegro?

Montenegro’s natural beauty and sophistication aren’t the only reasons why the nation is attracting vast opportunity for growth and development. Its recent independence and strategic position have also influenced Montenegro to become central to some of the most important industries in the world.

  • Benefits:
    o Fast procedure.
    o Citizenship within 3 months.
    o No language requirements.
    o No obligation to relinquish current nationality.
    o NATO Member.
    o Candidate country for future expansion of the EU, expected by 2022.
    o Global mobility with access to over 118 nations visa-free.
    o The strategic geographical location in Europe with direct access to the Adriatic Sea.
    o Home of the world’s finest beaches and superyacht marinas.
    o An outstanding holiday destination.

Investor Options

Government Fund Donation

Applicants must make a contribution of Euro 100,000 in the form of a government fund donation

Real Estate Investment

In addition to the donation, applicants are required to invest in approved real estate projects in the country.
Depending on where the selected projects are, applicants will have the choice of the following investment
levels.

  • Euro 250,000 investment in an undeveloped region (north of the country ), or
  • Euro 450,000 investment in a developed region (south of the country)

Application Fees

Fees are based on the number of dependents, country of the region, residence and other retained services, as well as service and legal fees related to the submission of application for the main applicant and qualifying family members. The advisory fees are non-refundable and are payable in one installment.

All application fees charged by the Montenegro government and by the licensed agents are subject to change. Please contact us if you have any questions or need more information.

Progressing Fee

For the purpose of the costs of the procedure, applicants must make payment to the program in the amount of:

  • Euro 15,000: Main applicant.
  • Euro 10,000: per qualifying dependent, for up to four dependent.
  • Euro 50,000: per qualifying dependent, for the fifth and every nest dependent

Due Diligence fee:

Applicants must cover the fees for the due diligence as announced by the program administration. STEPS AND TIMELINE The following table breaks down the program and application process to three stages with a total of 6 steps. Each step must be completed before continuing to the next.

 STAGE 1
Qualification MONTH 1
STEP 1
Choose an agent licensed for the
program to get qualification approval.
STEP 2
Collect application documents and pay
processing fees
STAGE 2
Pre-approval MONTH 1-3
STEP 3
The file is received by the program
administration. The application is
reviewed for administrative
compliance.Due diligence and
background verification is performed.
STEP 4
The decision in principle is delivered .In
case of approval: Applicant is invited to
proceed with the contribution and the
investment.
STAGE 3
Naturalization MONTH 4
STEP 5
Travel to Montenegro to submit
residency and citizenship application
and have biometrics collected.
STEP 6
Receive naturalization certificate (s) in
Montenegro. Apply for and collect
passport(s).
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