Obtaining citizenship in Montenegro is different from getting a residence and work permit by establishing a company or through purchase of real estate. Establishing company in order to obtain permits is the most affordable method. All three options can be performed in as little as 21 days. You can find detailed information in our article to decide which one of these options you actually need. Our company is by your side with its leading expertise in all of these transactions. All your legal applications regarding Montenegro will be executed quickly and successfully.
Getting Montenegro Citizenship
Unfortunately, there is too much information abuse on this matter. Many so-called advisory companies state that you will obtain Montenegrin citizenship by establishing a company in Montenegro or by purchasing any property. That isn’t true. You can get Montenegrin citizenship, we have listed below the conditions for this. However, by establishing a company in Montenegro you only get a residence and work permit. Its duration is 1 year and it is easily renewed every year. With this permission, you can reside, work and live in Montenegro. But as we have just mentioned, these permits must be renewed every year. Transactions are easy, but must be followed every year.
Montenegrin citizenship is permanent, it does not require any renewal or extra application. After you get your citizenship, you are no different from native-born citizens of Montenegro. When Montenegro becomes a member of the EU in the future, you will be considered an EU citizen.
Obtaining Citizenship in Permanent Montenegro - New Law
The Montenegrin government enacted a provisional law to be in force between 2018-2021, allowing foreigners to acquire Montenegro citizenship indefinitely if they meet certain conditions. This right applies to all foreigners seeking to invest in Montenegro.
If you meet any of the above conditions, you will be eligible for Montenegrin citizenship. Notarized criminal record and passport copies are required for application.
This once in a lifetime opportunity is limited to 2,000 people and you must apply before the end of 2021. You can get your consent by making a pre-application. After that you can get your residence and work permit within 21 days and your Montenegro passport within 4 to 6 months. According to this law, you can easily become a Montenegrin citizen if you buy real estate (housing only) in order to meet the amounts determined within the borders of the country.
The property you will get for citizenship in Montenegro gives you other advantages. Due to its warm climate and unique geographical structure, Montenegro attracts many tourists. The country does not have the capacity to accommodate these tourists. For this reason, tourists often rent seasonal houses. This naturally leads to a regular increase in apartment rental prices. It is certain that you will earn high income from the houses you buy. Our company can also help you with this; we can carry out all the leasing, contracting and various bureaucracy transactions on your behalf by proxy.
Another consequence of high rents is the increase in the prices of the houses you buy. These two intertwined opportunities allow you to earn extra income from your investments in Montenegro. The minimum real estate price increase on an annual basis is around 8%.
Another advantage is that it is not possible to find a house at these affordable prices in other countries on the Adriatic coast. If we compare Croatia and Montenegro on the basis of Euro / m2; a luxury house on the coast of Dubrovnik2 starts at 3,450 Euros, but for Montenegro the price range for similar real estate2 is relatively low.
Turks and Russians living in Montenegro take an active role both in the construction sector and in the real estate market by buying property in the southern regions. You will not feel alone in Montenegro due to the high number of foreigners living in the south regions. Foreign investors have equal rights with Montenegrin citizens. Montenegro banks give loans to foreign investors when buying a house. The installments are limited to a maximum of 25 years and are up to
400,000 Euros. Please contact us for current interest rates and credit options.
Here are some of the most prominent projects where you can buy real estate to obtain Montenegrin citizenship:
• Porto Montenegro; Pivat
• Lustica Bay; Tivat
• Dom XXI; Budva
• Dukley Gardens; Zavala peninsula
• Porto Skadar Lake; Shkoder
Your investments in Montenegro are protected by international laws. In Montenegro, the European Convention on Human Rights and Fundamental Freedoms guarantees full and equal rights for everyone living in the country and all foreigners investing in the framework of the laws issued by the Constitutional Court of Montenegro.
In addition to the purchase of real estate, you can obtain residence and work permits by establishing a company in Montenegro. The permits you receive in this way are renewed annually and do not provide you with citizenship in the first place. The owner and partners of the company established in Montenegro are entitled to a residence and work permit within 21 days. Whether the company is active or passive does not make any difference in terms of application.
According to world bank data, Montenegro is the fastest growing country in the Balkans and the first investment choice of global firms in Europe due to its strategic location. This requires fast action by those who want to become citizens of Montenegro indefinitely by purchasing real estate. Those who do not want to miss this chance must take into account that the demand is increasing every day and the application must be made before the quota reaches to 2000 people limit.
Advantages of Being an EU Citizen
Montenegro, which will soon become a member of the European Union, will ensure that its citizens have the same rights as citizens of other EU member states. So, what are these rights?
1). Free circulation; There will be no boundaries between you and the EU countries. You can study, live and work in any member country.
2). Travel rights; the consulates of all other member states are also becoming your consulates. You can get all kinds of help from these consulates when you travel abroad. You will have special passenger and protection rights. In addition, citizens with disabilities can travel without any discrimination with extra privileges.
3). Health care rights; you have the right to receive and select health care in all EU member states as well as advanced EU food safety standards (Source: European Union Youth Branches).
4). The right to vote and to be elected; You have the right to choose and be elected in any EU member country, even if you live in another country then your native
5). Divorce procedures; you can request divorce in any country and you can introduce the end-court decisions in another EU country
6). Telecommunication; You can use your phone with the same conditions in any EU country you want at flat rates. Service providers are obliged to provide you with transparent and open contracts.
7). Consumer rights; you have equal rights with all other EU citizens and are protected when conducting transactions online. You have the right to return, appeal and guarantee.
8). The right to a fair trial; within the framework of human rights that apply throughout the EU, you will receive a fair trial in the EU country of your choice, and you will also have special protection.
9). Information and guidance rights; you have the right to contact, help and support all EU institutions using your language.
10). European citizen initiative; you can apply for the EU Commission to put any issue on its agenda. You have the right to complain.
When will Montenegro become an EU member?
The Montenegrin government has completed many of the 35 chapters required after meetings with the European Commission. Almost all the requirements of these substances have been fulfilled. The next new member of the European Union will certainly be Montenegro.
With the EU membership expected to occur between 2021-2022 at the latest, the already high standards of the country will reach even better levels. Montenegro is working hard to ensure that its citizens have access to these rights and adopts many reformist laws.
After gaining full membership in the European Union and joining the Schengen Union, only foreign investors who have a residence permit (non-citizens) Montenegro will be entitled to travel to all European Union countries by using their residence cards and without the need of any visa. Those who receive Montenegrin citizenship will have equal rights with citizens of all European Union countries.
The period for foreign investors to take advantage of this opportunity is shortening, which leads to an increase in investment rates in the country.
A New Life Awaits You in Montenegro
You can get detailed information from us to take advantage of any investment property whether your aim is to obtain citizenship or a residence permit in Montenegro. Our real estate and company establishment services continue after sales and transactions. We provide consultancy in wide range of topics including financial, legal and commercial. We are waiting with our professional team for you to contact us to help with all your concerns about Montenegro.