Positioned within Southeastern Europe on the Balkan Peninsula, Montenegro is celebrated for its extraordinary and unmatched natural splendor. Gaining independence as a sovereign nation in 2006, Montenegro is a part of NATO, has adopted the euro as its official currency, and holds the status of an official candidate for European Union membership.
Program Overview
Montenegro is a secure and consistently stable nation, emerging as a thriving center for contemporary resorts and actively progressing towards establishing a free-market economy. Montenegro Residence offers foreign individuals an opportunity to secure residence privileges, allowing them to build a diversified portfolio with the added advantage of obtaining an alternative European residency.
Program Benefits
- Highly efficient procedure for residence application and bank account opening
- Minimal application requirements, requiring only one visit to Montenegro
- Eligibility for permanent residence after five years
- Lower business operation costs compared to other European jurisdictions
- Duty-free trade and customs agreements with EU member states, Switzerland, Türkiye, and others
- Residence in a member state of the European Monetary Union, NATO Alliance, OSCE, and the WTO
- Multinational and multilingual country with a mild Mediterranean climate, beautiful scenery, and a low cost of living
Program Qualifications
To obtain residency status, individuals are required to choose from the following investment pathways:
Real Estate Investment: Acquire an existing property (no minimum value stipulated).
Legal Entity Formation: Satisfy the following conditions:
- Establish and officially register a legal entity in Montenegro.
- Open a bank account.
- Secure office space for business operations, either through rent or purchase.
- Acquire residential property for personal use.
- It’s important to note that annual expenses associated with company operations commence at a minimum of EUR 3,000.
Types of Investments and Fees
Montenegro Residence by Investment Program
Montenegro offers a residence by investment program for foreign nationals who are interested in living and working in the country. The program has two main tracks: real estate investment and legal entity formation.
Real Estate Investment
To qualify for the real estate investment track, applicants must purchase a property in Montenegro worth at least €100,000. The property must be located in a designated area and must be suitable for residential use.
Legal Entity Formation
To qualify for the legal entity formation track, applicants must establish a company in Montenegro and invest at least €250,000 in the company. The company must create at least three jobs for Montenegrin citizens.
Once applicants have met the requirements of either track, they can apply for a temporary residence permit. The temporary residence permit is valid for one year and can be renewed annually for up to five years. After five years, applicants can apply for permanent residence or citizenship.
Fees:
| Fee | Amount |
| Government application fee | €1,000 |
| Due diligence fee | €1,500 – €2,500 |
| Legal fees | €2,000 – €3,000 |
| Translation fees | €100 – €200 per document |
| Other fees (such as medical examination and fingerprints) | €200 – €300 |
Total fees (estimated)
Real estate investment: €5,800 – €7,800
Legal entity formation: €6,800 – €8,800
In addition to the fees listed above, applicants must also pay for the cost of the property or investment in the legal entity.
Please note that these fees are estimates and may vary depending on the specific circumstances of each applicant. It is important to consult with a licensed immigration consultant to get an accurate quote of the fees involved.
FAQs
What is the Maximum Duration for Foreigners to Stay in Montenegro?
A residence permit can provide an indefinite extension to one’s stay in Montenegro, surpassing the maximum 90-day limit allowed for tourists.
How Can I Attain Permanent Residency in Montenegro?
You can achieve permanent residency in Montenegro by lawfully residing in the country for five consecutive years before applying for a permit. This requires holding either a temporary residence permit or obtaining approved additional protection under the law governing asylum.
Is Obtaining Residency in Montenegro Straightforward?
Yes, the process of obtaining a residence permit in Montenegro is relatively uncomplicated. However, it’s essential to note that the previously available shortcut to residency through the discontinued citizenship by investment program is no longer an option.
Make Montenegro your second home
Visa-Free Countries
Population:
628,066 (2023 est.)
GDP (per capita):
$31,600 (2023 est.)
GDP (purchasing power parity):
$123.348 billion (2023 est.)
Capital city: Podgorica
Time zone: UTC+2 (Central European Time)
Total area: 13,812 square kilometers
Languages: Montenegrin (official), Serbian, Albanian, Croatian, Bosnian
Currency: Euro (EUR)
Main industry: Tourism, agriculture, aluminum production
Schengen/EU: Candidate country for EU membership, expected to join in 2025.
KEY ADVANTAGES
- Affordable lifestyle due to a low cost of living.
- Picturesque landscapes and a mild climate.
- A tax-friendly environment with a 9% income and corporate tax rate, no capital gains or inheritance tax, plus membership in international organizations.
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Disclaimer
The materials contained in this page are provided for general information purposes only and are not intended to provide legal or other professional advice. Processing times and costs will vary depending on a number of factors. CitizenMatch is not responsible for any changes to the time and cost estimates; we can provide specific information on an individual basis. All rights reserved.