Montenegro is a beautiful balkan country that has attracted more and more global investors’ attention in recent years. The montenegrin government has launched the Special Citizenship by Investment Program (MSCIP) to boost foreign investment and economic growth. This article will analyze the details, advantages and procedures of investing in real estate projects in montenegro to obtain citizenship. The program provides great opportunities for high net worth individuals and families to get european citizenship and visa-free access to the schengen area as montenegro is an official EU candidate country.
overview of montenegro special citizenship by investment program
The MSCIP was officially launched by the montenegrin government on January 1, 2019 with a quota of 2,000 applicants. It is a temporary residence-by-investment program that will end on December 31, 2021. To qualify, applicants need to make a non-refundable contribution of €100,000 to a special development fund and invest at least €250,000 in pre-approved real estate projects in the northern or central regions or €450,000 in the capital Podgorica or coastal areas. The government fees are €15,000 for the main applicant, plus €10,000 for each dependent. The total investment required for a family of 4 is about €550,000. The application processing time is around 6 months.
key benefits of investing in montenegro citizenship
The montenegro passport provides visa-free access to 124 countries and territories, including the entire Schengen Area, Russia, Turkey, UAE, etc. Montenegro is an official EU candidate country and is expected to join the EU by 2025. The country uses the Euro as its national currency and is a member of NATO, OSCE and WTO. Applicants can obtain lifetime citizenship for themselves and dependents, which can be passed down generations. Montenegro has an attractive tax regime with no worldwide income or capital gains taxes. The real estate prices in Montenegro are relatively low among European CBI programs. The government has strong pro-business policies and the economy is rapidly emerging as a strategic destination for key global industries like tourism, agriculture and manufacturing.
montenegro real estate investment projects under MSCIP
The Montenegrin government has pre-approved several luxury tourism real estate projects that foreign investors can invest in to obtain citizenship, such as hotels, resorts, villas, etc. Most of the projects are located in the northern ski town of Kolašin, which the government aims to develop into a world-class mountain tourism destination. For example, the K16 and Bjelasica 1450 projects are 5-star mountain hotels under construction in Kolašin with a total value of over €74 million. Investing in these tourism projects can create many local jobs and boost the regional economic growth of Montenegro.
application requirements and procedures
The main applicant must be over 18 years old with a clean criminal record and pass stringent due diligence checks. After the investment and contribution are made and approved, the citizenship application can be submitted. The authorities will perform background verifications, interview the applicant and assess if all requirements are met. Upon approval, citizenship is issued within 6 months and passport can be obtained. The physical residence in Montenegro is not mandatory – investors just need to visit once every 5 years to maintain citizenship status.
In conclusion, Montenegro’s special citizenship program offers investors an affordable route to EU citizenship and global mobility. The country has big potential to develop into a leading regional tourism destination. Investing in government endorsed real estate projects can provide good returns and enable investors to tap into Montenegro’s growth story.