Foreign investors who want to set up companies in Montenegro can rely on the local legislation which allows them to enter the local market in several ways. They can either apply for work permits which will allow them to work in their own companies or for residence permits which will enable them to relocate to the country and become business owners.
One of the most recent programs which enable foreigners to relocate to Montenegro is the Citizenship by Investment Scheme which was created in 2018 and which targets attracting a greater number of foreign investors to the country.
Below, you can discover the requirements which allow you to apply for the Citizenship by Investment program in this country and obtain the golden visa in Montenegro. We are a team of company formation agents who can help you open a company in Montenegro in the fastest manner possible.
Who can enroll in the Montenegro Citizenship by Investment program?
Also known as the Economic Citizenship Scheme, the Citizenship by Investment Program was created for non-EU citizens who want to relocate to Montenegro by making investments in assets designated by the government.
An important aspect of this program is that at the moment the program targets a limited number of applicants and its first phase will unfold for a period of 3 years starting January 2019.
Our agents can offer more information on the citizenship by investment program.
Conditions for applying for Montenegro citizenship by investment in 2021
In order to relocate to Montenegro, the government will assess the applications of qualified investors who must meet the following criteria:
- invest at least 250,000 euros in projects located in underdeveloped zones in Montenegro;
- or invest at least 450,000 euros in projects located in developed areas of the country;
- no matter the type of investment chosen, a government fee of 100,000 euros must be paid;
- the applicant must also deposit a guarantee of 15,000 euros plus 10,000 euros for other 4 family members (where applicable).
The applicant can also bring more family member, however, for each of them, an additional 50,000 euros must be deposited starting with the 5th member.
The minimum amount to be invested is set at 350,000 euros.
Do not hesitate to get in touch with us for details on the 2021 Montenegro citizenship by investment program.
We invite you to read about how to obtain thegolden visa in Montenegroin the infographic below:
Large project investment options in Montenegro
The Montenegrin authorities encourage investments in various industries, as the country’s economy relies on foreign direct investments which is why the government allows entrepreneurs from countries all over the world to inject money in large projects in the tourism and agriculture industries.
Foreign investors interested in obtaining the golden visa in Montenegro can set up large hotels (5 star accommodation facilities and resorts) by investing at least 15 million euros in the region of Podgorica, with the condition of creating at least 80 jobs and have a minimum 60 rooms.
There is also a lower investment requirement of 5 million euros in Northern and Central Montenegro which required the creation of at least 25 jobs and 35 rooms.
Those who want to invest in agriculture have several options. These are:
- 2 million euros and the creation of 10 full-time job in agriculture;
- 4 million euros and the creation of at least 20 jobs in the wood processing sector;
- 3,5 million euros and the creation of at least 20 jobs in the fishing and fish processing sector.
Those who decide to apply for citizenship by investment in Montenegro under one of these options must also meet other requirements. They must deposit at least 15,000 euros for themselves in a bank account in Montenegro. They can bring up to 4 family members with them and for each at least 10,000 euros must be secured in the same account. For other family members, 50,000 euros per person is required.
If you are interested in this immigration option, our local agents can offer more information on it.
Our local agents can advise on how to choose the investment option for the Montenegro citizenship by investment program.
Citizenship by investment through the startup visa in Montenegro in 2021
When it comes to programs under which one can obtain citizenship by investment, Montenegro in 2021 has followed the example of other EU countries which have enabled a sustainable environment for startup companies. This is how the Startup Visa for entrepreneurs was developed.
This program is usually accessed by young enterprisers willing to invest at least 100,000 euros in a new company, in real estate or research and development activities. With minimal residency requirements, this program is suitable for those interested in obtaining citizenship through naturalization which implies living in Montenegro for 10 years.
Our Montenegro company formation specialists can offer more information on the Startup Visa Scheme.
Document requirements for foreign citizens relocating to Montenegro
In order to enter the Montenegro citizenship by investment scheme must prepare a set of documents, among which a valid passport and proof of the legitimacy of the funds to invest in the selected project. Also, whenimmigrating to Montenegro with family members, the application must also contain information about the persons moving here.
Compared to other jurisdictions, it is useful to know that Montenegro does not require any language requirements, nor experience in the field the applicant decides to invest. Also, there are no educational requisites if, for example, an investor wants to open a company in a specific industry in Montenegro.
Our company registration agents in Montenegro can assist with the preparation of the documents that need to be filed with the immigration authorities when applying for the golden visa in Montenegro.
No residency requirements
The citizenship by investment scheme is quite popular among EU citizens as it does not require them to live here before or after being granted a Montenegro passport. However, this is one of the friendliest countries in Europe, thus most of the applicants decide to move here with family members. Some of them find the legal system and the business environment so appealing they decide to relocate their businesses as well.
Business opportunities under the Montenegro Citizenship by Investment Scheme
Foreign citizens who decide to move to Montenegro by applying for citizenship by investment by registering a company have many opportunities not only in the industries requiring important amounts of money, but also in other sectors. Among these, investors can choose the information and technology (IT) and even the pharmaceutical industries which are developing at a fast route.
Considering the opportunities offered by government of investing in large projects, applicants should know that these are these represent some of the most important economic sectors in the country.
Those who want to set up a business in agriculture, for example, need to invest at least 2 million euros and create at least 10 jobs for Montenegrin citizens.
Wood processing is another important industry in which investors can inject money, the minimum amount required is 4 million euros and comes with the creation of at least 20 jobs.
With access to the Adriatic Sea, Montenegro offers applicants for citizenship by investment the possibility of setting up businesses in the fishing and fish processing sector by investing at least 3,5 million euros and by hiring at least 20 persons.
If you need assistance in incorporating a company under the Citizenship by Investment Scheme in Montenegro, you can rely on our local specialists.
Choosing a business for opening a company in Montenegro
The fact Montenegro offers the possibility of doing business under the Citizenship by Investment program is likely to attract many foreign investors willing to inject the requested amounts of money. For this, they will need to register their companies here.
The most employed business form is the limited liability company which is subject to very advantageous requirements. This legal entity does not require a minimum share capital when created under the Company Law, however, when set up under the Citizenship by Investment Scheme, the amounts of money presented above are required. Even so, the incorporation procedure remains just as simple.
Another requirement for those who apply for Montenegrin citizenship by investment through one of the large investment project options is to deposit the following amounts of money in the bank account of the Admission Commission:
- 150,000 euros the applicant;
- 10,000 euros for each family member, if their number does not exceed 4;
- 50,000 euros for each next family member.
Then, the applicant must also deposit 100,000 euros for the development of projects in underdeveloped regions, which are established under the Law on Regional Development. For investments in projects in the region of the capital city of Podgorica or in the coastal region of the country, the minimum amount required is 450,000 euros.
Investors also have the possibility of choosing projects in Northern or Central Montenegro by depositing at least 250,000 euros.
Montenegro is one of the most appealing non-EU investment destinations in Europe thanks to the low corporate tax rate.
When it comes to the Citizenship by Investment Scheme, the following interesting facts should be mentioned:
- Montenegro is the 12th country in the world offering such a program;
- the Montenegrin passport is ranked 42nd in the world thanks to the fact that it offers visa-free travel to no less than 124 countries;
- Montenegro is expected to become an EU member state in 2025 and a Schengen one after that.
One of the best options for those who want to move to Montenegro by applying for citizenship by investment is through the purchase of a property. Those willing to invest a lower amount of money can buy properties in Northern Montenegro, while those interested in a more important investment can buy real estate in the southern part of the country or even on the Adriatic coast.
When it comes to Northern Montenegro, Kolašin and Žabljak are two of the most important cities which are suitable for those who want to buy real estate or who want to invest in tourism, considering the two cities are known for the ski resorts here.
In the South, the cities of Budva, Novi, Herceg, and Tivat are the best-known investment destinations for those who do not want to go to Podgorica.
If you want to invest in real estate and need assistance, our Montenegro company formation representatives can handle the entire procedure related to the purchase of a property through this program.
The benefits of the Economic Citizenship Scheme in Montenegro in 2021
Those who want to relocate to Montenegro through the Economic Citizenship Scheme in 2021 will have plenty of benefits among which the fact they do not need to submit any proof of previous business experience. Also, no language tests are imposed. The government will only verify if the candidate has a good reputation and health and a clean criminal record.
The Citizenship by Investment Program will enable the successful candidates to travel or relocate to EU and Schengen area states without additional visas.
Why relocate to Montenegro through the Citizenship by Investment Program?
The Montenegro Citizenship by Investment Scheme is open to both EU and non-EU citizens. Moreover, this program implies one of the lowest investments among European countries. The program launched by the Montenegro government is one of the fastest ways of obtaining citizenship in this country.
Government officials have announced that the applicants with successful candidacies will receive the permanent status no later than 3 weeks and the Montenegro passport no later than 6 months after the application.
Montenegro is a small European country; however, it is currently one of the economically safest countries to move to. Montenegro has a stable taxation system and even if it currently is not an EU member state, it is expected to enter the EU by 2025.
Why apply for citizenship in Montenegro?
No matter if one decides to take the short or long way to citizenship in Montenegro, he or she will benefit from many advantages. Among these, the Montenegro-USA convention, also known as the E-2 Treaty under which Montenegro citizens can reside and open companies in the USA.
Apart from this:
- a foreign citizen is not required to give up citizenship from their country of origin;
- free travel to 124 countries, including the Schengen Area, Turkey and Russia;
- one of the lowest personal tax rates in Europe, ranging between 9 and 11%.
Montenegro is one of the most appealing countries in Southeastern Europe and the fact that it is preparing to become an EU member state can be a great opportunity for those seeking to obtain citizenship by investment in 2021 in a country that is continuosly improving.
Thanks to the many options foreign citizens can choose between when deciding to apply for citizenship by investment in Montenegro, in 2021 the program represents one of the best options for those seeking to relocate to Europe.
Our specialists can offer the necessary information on the requirements associated with obtaining Montenegro citizenship by investment in 2021.
If you need assistance in choosing the appropriate type of investment, our local advisors can guide you. Also, if you decide for opening a company in Montenegro, you can rely on us during the incorporation procedure. We also invite you to watch our video:
FAQ on the citizenship by investment program in Montenegro
Recently enabled, the Montenegro Economic Citizenship Scheme has raised a lot of questions for those interested in relocating to another country through such a program. In order to clear some of these doubts, our Montenegro company formation consultants have answered a few questions related to it:
1. Can EU citizens apply for the Montenegro Citizenship program?
Yes, this program is also destined to EU states’ citizens who want to move here.
2. It is necessary to register a business under this program?
No, the investment can also be made in real estate assets. For example, you can purchase a property which meets the demands of the program.
3. Can I bring other family members with me?
Yes, you can bring other family members with you. The program does not state a specific number, but you can bring at least 5 family members under this program.
4. Is it hard to obtain citizenship in Montenegro through this program?
No, the program guarantees a Montenegro passport within 6 months from the application, provided it is a successful one.
If you need assistance in entering the Citizenship by Investment Scheme, please contact us. We also specialize in company formation services in Montenegro if you decide for this option.
Call us now at +382 20 620 312to set up an appointment with our company formation agents in Podgorica, Montenegro. Alternatively you can incorporate your company without traveling to Montenegro.
As our client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Montenegro.