Property buying guide for Montenegro
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Getting Montenegrin investment-based citizenship

€350,000

minimum investment

3 to 6 months

Lead time

2,000

Quota of applications

On 3 October, 2019, the government of Montenegro announced starting to receive the applications to join the citizenship-for-investment programme that will last for three years.

To obtain Montenegrin citizenship, it is necessary to buy real estate from the pool of state-approved projects and donate to the public fund. 

— The passport takes 3–6 months to be issued. 

— Besides the investor, the citizenship is granted to the investor's spouse, minor children and children of majority age financially dependant on the investor.

  • The citizenship is heritable.
  • It is not necessary to live in Montenegro or speak the local language. 
  • Investments in state-approved projects.
  • There is an opportunity to sell the property in 5 years. 
  • The entire refundable investment amount sits in a secure escrow account. 
  • The programme will last for three years and has a quota of 2,000 applications.

Advantages of Montenegrin citizenship

If you want to become an EU national, but can't afford participating in the expensive programmes of Cyprus or Malta, you should consider the new programme of Montenegro. 

You can wait until Montenegro joins the EU, having secured visa-free access to many countries in the meantime

Ekaterina Maslova Ekaterina Maslova Tranio Real Estate Investment Advisor for Montenegro
Ask Ekaterina a question
  • Montenegro is a candidate for EU membership. According to the latest communication from the European Commission, the country "could potentially be ready for EU membership by 2025".
  • The passport of Montenegro provides visa-free or facilitated access to 122 countries including the entire Schengen Area, Bulgaria, Croatia, Cyprus, Israel, Russia, Turkey and the UAE.
  • Montenegrin citizens are eligible for the Е-2 business visa which allows to live and work in the US. This type of visa is unavailable to Russian nationals.
  • Montenegro recognises dual nationalities and does not require to renounce the current citizenship.
  • There is no CFC legislation. The foreign companies of Montenegrin citizens are not subject to coercive registration in Montenegro, which guarantees maximum confidentiality of international business ownership.
  • The lowest personal income tax rates in Europe.
  • Montenegro does not impose tax on the profits obtained outside the country. 
  • No tax is levied on inheritance, gifts, life or property insurance proceeds.

Attractive tax regime

  • Personal income tax at 9-11 %
  • Capital gain tax at 9 %
  • Profit tax at 9%
  • VAT at 7-17 %
  • No tax levied on inheritance, gifts, life or property insurance proceeds

Getting Montenegrin citizenship

Investing €450,000 in an off-plan property in a well-developed country region —the southern Montenegro or Podgorica. The project must be approved by the government. 

Donating €100,000 to the special purpose public fund.

Investing €250,000 in an off-plan property in a less developed country region —the northern Montenegro. The project must be approved by the government. 

Donating €100,000 to the special purpose public fund.

To obtain citizenship, it is also necessary to pay the stamp duty: €15,000 for the main applicant, €10,000 for 1–3 family members and €50,000 per additional family member.

Montenegrin passport issuance procedure

  1. Signing the agreement and meeting the programme qualifications
  2. Paying state and company fees
  3. Choosing an investment vehicle and signing the documents
  4. Passing the KYC check.
  5.  Transferring the investment and contribution amounts to the public escrow account
  6. Submitting the necessary documents and applications for citizenship
  7. Getting a positive decision and a naturalisation certificate.
  8. Submitting biometric data at a diplomatic mission of Montenegro.
  9. Receiving the Montenegrin passport

Application requirements:

  • Non-EU nationality.
  • Proof of the investment money lawful origin.
  • No personal sanctions or bans from entering the EU, the US, the UK or Canada.
  • Clean criminal record and no court proceedings initiated against.
  • Successful KYC check.
  • Clean credit history.
  • Successful medical examination.

Popular citizenship-by-investment programmes compared


Montenegro

Cyprus

Malta

Comparison of non-refundable (national fund) contributions

€100,000

€150,000

€650,000

Real estate investment

€250,000 — the north of the country,

€450,000 — the south of the country


€2M — residential property,

€2M in commercial real estate and €500,000 in residential property


€350,000 - purchase,

€16,000 per year - rent


Investment term

5 years

5 years

5 years

Necessity to own anchor property after the investment exit

Ability to sell the property in five years

Real estate priced below €500,000 must remain to be the permanent residence

Ability to sell the property in five years

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