As a means of achieving true global mobility, Citizenship by Investment (CBI) programmes, offered by various countries around the world, have proved to be highly effective – not least in light of the disruption and travel restrictions imposed by the Covid-19 crisis.
At the start of 2021, Montenegro launched its CBI programme with the aim of encouraging and facilitating foreign direct investment (FDI) from people looking to obtain a second citizenship.
The benefits of holding a passport from this tiny Balkan gem of a country are many: a competitive tax regime – with the lowest personal, corporate and capital gains tax rates in Europe; the safety of Montenegro’s Euro-based currency; Free Trade zones where firms are exempt from paying VAT and customs duties; avoidance of double taxation due to treaties with over 40 countries; and no restrictions on foreign currency exchange and the transfer of profits abroad.
Montenegro is a solid base for both large and small businesses. It is a trending destination for entrepreneurs, with simple company registration requiring just €1 Euro founding capital and minimal paperwork. Significantly, Montenegro is within a three-hour flight of most European capitals, and citizens enjoy visa-free or visa-on-arrival entry to 124 countries.
Whether you’re looking as an individual or as a family, here’s why every high-net-worth individual seeking a second passport should consider investing in Montenegrin citizenship – and how to do it.
Requirements for Montenegrin citizenship
Citizenship can be obtained by investing 550,000 Euros, comprising a donation of 100,000 Euros to the Government Development Fund, and investment of 450,000 in qualified real estate – such as for example properties in the superyacht port and luxury lifestyle village of Porto Montenegro, and its newest neighbourhood, Boka Place.
Added Benefits of investing in Boka Place
Designed for year-round living, with integrated residential, leisure, retail and hospitality amenities, Boka Place has been planned to offer great added value for buyers. Part of the well-established and highly regarded residential and yachting community of Porto Montenegro, this new neighbourhood has ready access to all key services, including an International IB World school, medical clinic, business hubs, and three international airports nearby. With the renowned cruising waters of the Eastern Mediterranean right on its doorstep, Boka Place enjoys an exceptional waterfront location in one of the Adriatic’s most sought-after tourism locations – the Bay of Kotor.
Why choose Montenegro?
“Living and working in this stunning country, the benefits are obvious to me,” says South African native Brennon Nicholas, Sales and Marketing Director at Porto Montenegro. “I’m always interested to hear from our clients and investors about what motivated them to choose Montenegro. Several factors are almost always highlighted: the extremely low personal and corporate tax rates, capped at just 9%, the central-Europe location, the safety of the Euro currency and the outstanding natural beauty of this magnificent destination.”
1. Visa-Free Travel
Holding a Montenegrin passport allows visa-free movement to 124 countries including the Schengen Area, Russia, and Turkey. You’ll have a second passport that’s rated 34th strongest in the world and, what’s more, you’ll be a citizen of an official EU candidate that has a planned accession by the year 2025.
2. Ideal Relocation Destination
Montenegro is a beautiful country – well developed yet rich in pristine nature. The multinational, multilingual culture and community, coupled with a fantastic Mediterranean climate make it an ideal relocation destination or second home.
3. Low Cost of Living
The cost of living is among the lowest in Europe and attractive tax benefits simply add to the country’s appeal for aspiring immigrants.
4. Fast processing of applications and citizenship for the entire family
With a total processing time of approximately six months from enrolment, Montenegro’s Citizenship by Investment Programme accommodates remote applications, with no relocation or language requirements, obligatory interviews or renunciation of existing citizenship. Citizenship is also granted to dependent members of the applicant’s immediate family.
5. Safe & healthy lifestyle
For those relocating with the entire family, Montenegro promises a safe, child- and family-friendly environment and inclusive community, with a wealth of natural and cultural treasures. Coupled with its spectacular scenery, Montenegro naturally encourages healthy and active lifestyles.
6. A business-friendly environment
Montenegro has very low barriers to starting a business, with simple registration, minimal founding capital and minimal paperwork. There are no restrictions on the transfer of profits abroad, and corporate taxation is the lowest in Europe.
Added to these benefits, Porto Montenegro – of which Boka Place is the newest neighbourhood – has a proven track record as an investment, with great long-term rental, re-sale and growth potential. And beyond this financial return, buyers gain access to a one-of-a-kind international community. With Montenegro’s current Citizenship by Investment programme due to end on the final day of 2021, now is the time to take action. Contact Porto Montenegro’s sales team today for consultation or specific advice.
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