Is Montenegro’s CBI Program Worth The Wait?
Nicknamed the pearl of the Mediterranean, Montenegro is a south-eastern European country that boasts a mild climate with beautiful scenery and a rich culture that attract thousands of tourists every year. Because of this, Montenegro attracts foreign investors who are considering a second citizenship.
In October 2018, it has been announced that Montenegro will launch its own Citizenship by Investment Program. Over a three-year period, this CBI program will only permit 2,000 applicants and it would take 6 months for processing. In fact, application for the said program has already started and will be submitted to the Government of Montenegro.
Before applying for the CBI program, the investor should make an investment of at least EUR 250,000 first. After this step, the application must be reviewed by a consultancy agency and the applicant must attain a recommendation from Montenegro’s Ministry of Finance. With the consultancy agency’s certification and the Ministry of Finance’s recommendation, the foreign investor may forward the citizenship by investment application to the Montenegro immigration.
Foreign investors who wish to apply will have two investment options:
- EUR 250,000 real estate investment in an undeveloped area of the country, as defined by the Government;
- Or EUR 450,000 real estate investment in a developed area of the country.
Additionally, there will be EUR 100,000 charge that will be directed to a special fund for the underdeveloped areas of Montenegro.
With all these charges, is Montenegro’s Citizenship by investment worth the wait?
There are several advantages to obtaining this citizenship program, including is the visa-free travel on around 123 countries. With its stable government and low tax regimes, Montenegro is a place where there is room for economic boom. The country is also a member of NATO, which guarantees its safety to the foreign investors who consider this as their top priority for their business.
Obtaining its passport will surely be worth the wait given the possibility of Montenegro joining the EU in less than 7 years. With the country’s natural beauty, tourism in the north has also begun to greatly contribute to the nation. From Montenegro’s well-known beautiful sceneries such as Lake Skadar to the mountainous Kolasin, investing in Montenegro serves a great opportunity that has got even more desirable.
One can only imagine the promising series of luxury developments that Montenegro will unfold to its investors.
Yes, obtaining a Montenegrin citizenship by investment is worth the wait as it holds so much promise to those who want to expand their businesses.
Bayat Group is also able to provide meaningful advice and benefits to foreign investors far beyond those available from traditional sources of immigration and visa service providers. With our in-depth practical experience and knowledge worth over more than two decades, we will help you while you wait.
With Bayat Group’s extensive knowledge of Business Immigration Programs, we will deliver practical and effective legal solutions to your citizenship by investment program application. Contact us now for strategies and carefully-planned application process to your needs.