Any individual who intends to stay and work in Montenegro for a period longer than three months has to obtain a residence permit. Investors who are looking to open a company in Montenegro also need a residence permit for lawfully doing business. There are two types of residence permits in Montenegro: temporary and permanent. The application for a temporary residence permit has to be submitted with the Montenegrin police, it has to be accompanied by specific documentation and is processed within 30 days from submission. After a 5 years stay in Montenegro, the temporary residence permit can be exchanged for a permanent one.
Our experts in company registration in Montenegro can give you more details about the procedure of obtaining a residence permit for this country.
The main law related to obtaining a Montenegro residence permit is the Act on Registers of Temporary and Permanent Residents which was amended in 2008. The law covers aspects such as the procedure for applying for the residence visa, the documents required when applying for the status of a Montenegro resident and the rights acquired through the permit.
The Law covers the following types of residence permits and the rights attached to them:
The Registry must keep the following information about the holders of Montenegro residence permits:
Our company registration agents in Montenegro can offer more information about the legislation related to obtaining a residence permit as an investor.
Holding a temporary permanent residence permit implies the following:
The application for a temporary residence permit for Montenegro must be filed with the embassy or consulate of Montenegro in the applicant’s home country.
When it comes to the permanent residence of a foreign individual in Montenegro, the following aspects must be considered:
Our local agents can also help foreign investors who want to acquire residency by opening a company in Montenegro.
Only foreign individuals who buy a property or register a company in Montenegro are able to obtain a one-year residence permit, regardless of the value of the property or business. This temporary residence permit can be extended annually and can be obtained only by the following categories of owners: of houses, apartments, Montenegrin companies, hotels, restaurants and holiday homes. The application for a residence permit in Montenegro has to contain the following documents:
• Proof of property ownership (buying/selling contract);
• A bank receipt attesting a bank deposit of 3,650 EUR into a Montenegrin bank – this amount is considered sufficient funds to remain in Montenegro;
• Valid medical insurance covering a 30 days period;
• Copies of each page of your passport;
• Certificate of no criminal record in your country of origin;
• Proof of registration with the local police in Montenegro – this is compulsory within the first 24 hours after your arrival in Montenegro;
• Proof of paying the residence permit fee of 25 EUR.
Please note that once you are granted a residence permit in Montenegro, you have to notify the local police any time you leave and return to the country. Our specialists in company registration in Montenegro can help you set up a company and apply for a residence permit.
According to the Montenegrin civil law, the residence permit can be issued for more than 90 days on the following grounds:
• Family reunification;
• Real estate ownership;
• Company formation in Montenegro;
• Education (university, vocational, student exchange);
• Scientific research;
• Medical care;
• Humanitarian missions;
• Any other grounds stipulated by law or international agreements.
Don`t hesitate to contact our Montenegrin company formation agents if you need more information about obtaining a residence permit based on business ownership in Montenegro.