Montenegro is one of Europe’s most beautiful countries. The cost of living is one of the lowest in Europe and it also has fantastically low taxation, (flat 9% on most types of income). Montenegro is very appealing to a wide range of people and could tick all your boxes.

With the government’s decision to extend its Citizenship By Investment (CBI) for a further 12 months, you will now still have the opportunity to become Montenegrin.

Besides being an attractive Plan B destination today, Montenegro is forecasted to join the EU by around 2025, however it is not set in stone.

If or when this happens the original Montenegro passport, which in the Sovereign Man Passport Ranking Index scores a B-Grade, will become an EU passport. This gives you the right to work and live in any of the other EU countries as well.

The Montenegrin CBI passport compared with what you’d pay for a CBI passport in Malta (circa $million) would be an absolute bargain!

The program has its benefits:

• You can become a citizen in a matter of months.
• You don’t need to learn Montenegrin or have to spend any requisite amount of time living there.
• Also, you don’t need to forsake your original citizenship either.

However, the big question is what is the catch? The donation requirement has now been doubled to €200,000 from €100,000.

The key details of the program

In Montenegro, you are required to invest in local real estate and donate to the government, unlike most other CBI programs where you can do either.

You will need to donate €100,000 to the government fund which is intended for underdeveloped areas of the country. You also need to donate €100,000 to the newly announced “Montenegrin Innovation Fund” as of 1/1/22.

Finally, you must invest in a government approved real estate project. You have 2 options.

1. Invest €250,000 in a project in the less developed Northern & Central parts of the country or
2. Invest in a project in the more desirable and well-developed areas in the capital of Podgorica or anywhere along the coast. The investment amount of €450,000 from the 15 approved projects to pick from, 11 are situated in the north of Montenegro.

The price has been lowered in the north to €250,000 to make investing more attractive. You can apply for this fully remotely.

On top of this you will need to add professional fees for submitting your app to the government. A licensed agent will do this for you and the fees charged will depend on your family size and the provider you choose.

Why choose the Montenegrin CBI program?

If you choose to participate in the Montenegrin CBI program, you will need at least €472,000 investment plus the additional professional fees. In comparison to this if you applied for a CBI passport in the Caribbean you would only be spending €100,000.

Why pay so much? Well Montenegro ticks a lot of important boxes.

Low Taxes: Montenegro offers one of the lowest personal income rates in Europe. It’s only 9% on the majority of your business and personal income also including capital gains.

Great Option for US Citizens: Montenegro could be a good replacement passport to consider, if you were considering renouncing your US citizenship.

Montenegro is also on track to join the EU in or around 2025.

Great Lifestyle: Montenegro is a very inexpensive European country and is very beautiful, liveable and very well connected to the rest of the continent.

Speedy Process: It only takes roughly 6 months to become Montenegrin and obtain your passport there.

However, there are some cons to consider. Montenegro may not join the EU. Although its expected to happen in 2025 it is not set in stone.

Montenegro lacks development, but this would only matter if you were spending significant time in Montenegro. The country is actively developing, mainly on the coast, it still offers little other than natural beauty.

If you have invested don’t expect to recoup it any time soon. In Montenegro you must purchase a government approved property to participate in the program. In most cases you may be purchasing an overpriced product. So, you might wish to consider at least a small portion of your €250,000 property investment to be an additional donation that won’t be able to be recouped.

Also, the capital Podgorica is fairly quiet. So, if you are looking for more lively entertainment and amenities you will need to travel to nearby Croatia or Serbia. However, if you’re looking to live in a naturally beautiful setting few countries come close to Montenegro.

For further details of property for Sale in Montenegro please follow our link.

Learn more about EU residency (Residency Schemes) & Golden visas