Property buying guide for Montenegro
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Getting Montenegrin investment-based citizenship in 2020

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€350,000

Investment from

3 to 6 months

Lead time

2,000

Quota

On 3 October, 2019, the government of Montenegro announced that it was receiving applications for its citizenship-for-investment programme that will last until 2022. 

Those who want to obtain Montenegro citizenship through the programme must buy real estate approved by the state or donate to a specified public fund. 

  • A passport of Montenegro takes 3-6 months to be issued. 
  • Besides the investor, citizenship is granted to the investor's spouse. While their children (under 18 and financially dependent on the investor) will be given a residency permit until they turn 18, when they will be eligible to become citizens. 
  • Citizenship is inheritable.
  • It is not necessary to live in Montenegro or speak the local language. 
  • Investments can only be made in state-approved projects.
  • It is possible to sell the property/properties after five 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.
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Advantages of Montenegrin citizenship

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

Successful applicants will be granted visa-free access to many countries and when Montenegro joins the EU (earmarked for 2025), citizens will also be given access to the rest of Europe.

Ekaterina Maslova Ekaterina Maslova Tranio Real Estate Investment Advisor for Montenegro
  • 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".
  • A Montenegrin visa 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 country has 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 citizenship of Montenegro

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

Donating €100,000 to a specified public fund.

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

Donating €100,000 to a specified public fund.

To obtain Montenegro 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.

How to choose a project

The Montenegro government has several projects to choose from, but not all of them are profitable investments. Contact our advisor to find out more.

If you're interested in this program, our lawyers can help you prepare the documents to access the project and get citizenship.

Contact an expert

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 Montenegro 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

Non-refundable (national fund) contribution

€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 renting


Investment terms

5 years

5 years

5 years

Necessity to own anchor property after the investment exit

It’s possible to sell the property after five years.

Real estate priced below €500,000 must remain as a permanent residence

It’s possible to sell the property after five years

Citizenship-by-investment programmes of other countries:

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