The recent geopolitical situation in the Middle East has motivated a significant number of Asian high net worth individuals to consider moving westward towards European markets, contributing considerably to the development of the so-called “rich immigration”.
With the above in mind, the Montenegrin Government has been working on an attractive citizenship-by-investment program which is expected to provide a significant boost to the existing economy by allowing the expansion of various forms of business from abroad. Starting from October 2018, the Government of this NATO-member country will grant citizenship by investment to 2,000 qualifying entrepreneurs from non- EU Countries for a limited period of 3 years.
Per the scheme, foreign investors will be considered eligible for naturalization by exception if they meet one of the following investment criteria:
- - Invest €250,000 in projects located in non-developed areas of Montenegro (generally located in the north of the country), provided that such projects are previously approved by the Government of Montenegro; or
- -Invest €450,000 in projects located in developed areas of Montenegro (southern region), previously approved by the government of Montenegro;
Investors should note that an additional amount of €100,000 will be required by the Government for each submitted application. This amount (Government Fund Donation) will be used for regions under development in Montenegro.
The Government has stated that application will be a speedy procedure, allowing for a permanent residence status within three weeks and a subsequent citizenship granted within six months.
We advise non-EU nationals thinking about investing in Europe to seriously consider the option of investing in strategically-located Montenegro which is expected to be a full EU member by 2025. Coupled with the skilled workforce, a stable tax system and general safety and stability, the new investment incentives make this small coastal country a very attractive European investment destination.