Some highlights

Summer home

• Adriatic Sea with 300 km / 185 mi of coastline, thereof 70 km / 45 mi of beaches
• Temperature of the sea in summer: +28° C / +79° F
• One of the world’s most luxurious yachting marinas (Porto Montenegro)

Winter home

• Mountains with ski resorts
• Slopes go up to 2,200 m / 7,200 ft

Passport

• Currently: visa-free travel to more than 120 countries (including the Schengen zone [i.e., most EU Member States plus Switzerland and Liechtenstein], the UAE, Turkey, Russia and Singapore)
• After EU accession: will automatically convert into an EU passport with full rights to travel, live, work and invest in the EU

Citizenship by Investment Program

Launched in 2019 and originally operational until 31 December 2021

• Due to underwhelming demand (COVID-19) extended until 31 December 2022
• Maximum of 2,000 applications, with already 1,000 submitted to date

Very competitive program compared to Malta or Cyprus

• Investment into real estate and donation to two state funds
• Over EUR 300 million contributed so far, with an additional EUR 160 million in escrow
• EU Commission working hard to get EU Member States to phase out their citizenship by investment programs

Citizenship by investment Waived Requirements

• No language or history exams
• No requirement to give up other citizenships
• No public information on granting of citizenshipNo residency requirement (only one visit necessary to submit biometrics and to collect the passport)

Citizenship by Investment Application

• Investor
• Family members
  • Spouse/partner
  • Children (if older than 18 years: must be financially dependent)

Citizenship by investment Two investment options

Option 1:

• Non-refundable contribution to government funds of in total EUR 200,000
• Buy real estate for at least EUR 250,000 in certain officially approved development projects
• In the North or in the center, but excluding Podgorica
• **** hotels and resorts or agricultural projects

Option 2:

• Non-refundable contribution to government funds of in total EUR 200,000
• Buy real estate for at least EUR 450,000 in certain officially approved development projects
• In Podgorica or on the coast
• ***** hotels and resorts
• Typically, contractually agreed five years holding period for real estate

Citizenship by investment Process

• Remote selection of real estate (site visits in Montenegro also possible)
• Conclusion of sale and purchase agreement with real estate developer
• Preparation of documents and forms

Copies of passports
Copies of birth certificates
Copies of marriage certificate
Copies of health insurance policy covering Montenegro

• Opening and funding of three escrow accounts (two state funds and real estate developer)
• Payment of official fees (official due diligence fee and official administrative fee)
• Submission of application
• Approval of application with release of escrow
• Visit to Montenegro to submit biometrics and to collect the passport (possible any time in the future)

Citizenship by investment Costs

• Official due diligence fee

Investor: EUR 7,000
Investor + spouse/partner: EUR 10,000
Investor + spouse/partner + 2 children: EUR 10,000

• Official administrative fee (capped at EUR 50,000)

Investor: EUR 15,000 ● Investor + spouse/partner: EUR 25,000
Investor + spouse/partner + 2 children: EUR 45,000

• Costs of escrow accounts: approx. EUR 4,000
• Professional fees of Wolf Theiss
• Minor costs for certification and translation of documents and for issuance of passport

Citizenship by investment Examples of real estate projects

• “Boka Place”, in Tivat
• “Montis Hotel & Resort”, in Kolašin
• “Amma Resort”, in Čanj