- Montenegro citizenship by investment program: procedure + property + passport
- Montis Mountain Resort’s location, environment, infrastructure, eligibility, and prospects for Montenegro citizenship by investment
- Montis Mountain Resort project’s profile, suites, amenities, timelines for Montenegro citizenship by investment applicants
- Financial matters of Montenegro citizenship by investment in Montis Mountain Resort
- Suite types at the Montis Mountain Resort eligible for your Montenegro citizenship by investment purposes
- European context and advantages of the Montenegro citizenship by investment
- Opportunity to discuss and choose the Montenegro citizenship by investment options with experts
Please note that you can apply for Montenegro citizenship by investment only before January 1, 2023.
Are you planning to capitalize on the Montenegro Citizenship Investment Program? Are you ready to invest a quarter of a million euros in a fast-developing resort in the mountains? Are you looking for a destination where you can prepare an “alternate airfield”? Montenegro can be your best choice, the destination where your plans are destined to come true.
Montenegro is a small, mountainous European country on the Adriatic Sea. It cherishes its natural charm and welcomes international investments in tourism infrastructure.
This article is focused on the benefits of buying a splendid suite at the collaborative project of the Montis Mountain Resort, a new ski complex in the northern part of Montenegro. Read on and discover the projects’ strengths and prospects, choose the right suites, and find other insights shared by our experts.
You should also look up our posts on how we can help you with various arrangements for starting your business in Montenegro, opening a bank account, legal residence, tax residence, and other chores.
Montenegro citizenship by investment program: procedure + property + passport
To obtain the status of a Montenegrin citizen by investment, a foreigner needs to provide the required financial support for the country’s development. This means some investment in one of the pre-approved development projects, plus a non-refundable donation to the government fund supporting the underdeveloped regions. The thresholds for such financial contributions are as following:
- the non-refundable donation – from €200,000
- the investment – from €250,000 in the north or €450,000 in the south.
This offer is the fastest track to obtaining a second passport in Europe – in less than half a year.
Here is what you will need to do:
- sign a contract with an immigration agent (any communication with local authorities can be only via such an agent)
- pay the deposit
- compile the standard set of documents and submit them for due diligence
- transfer the investment amount and the donation to your escrow account
- wait for the approval of your application and issuance of the naturalization certificate
- submit your biometrics (including fingerprints) at the local office and obtain your Montenegrin passport.
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Montis Mountain Resort’s location, environment, infrastructure, eligibility, and prospects for Montenegro citizenship by investment
The developing tourist resort is located in the northern part of Montenegro. The nearby small town of Kolašin is just 73 kilometers from the capital city of Podgorica and its International airport. It rests on the left bank of the Tara River at 960 m above sea level on a plateau between two large, spectacular mountain ridges. It is surrounded by three mountain ranges of Bjelasica, Komovi, and Sinjajevina. Kolašin is the number one tourist attraction in the region and a perfect place for skiing.
Montis Mountain Resort, a 5-star complex, is growing in a secluded underdeveloped, yet a very popular destination for winter skiing and summer ecotourism.
The site chosen for building accommodation, spa, sports, leisure, and conference facilities is surrounded by a pristine forest. In the serene atmosphere of the resort, guests will be able to get away from the hustle and bustle of cities and major roads. However, you will appreciate it that the town center is just a 15-minute walk from the resort.
- The Tara river. The 5-star resort is being built near the designated hiking trails and the Tara River. This river is a UNESCO nature heritage site, the gem of the region. The local canyon is the deepest of all European canyons, the second deepest one on the planet. It is second only to the American Grand Canyon in the state of Arizona. Just picture the dazzling views from your home in this exquisite highland retreat!
- Ski pistes. The resort is conveniently nestled next to the most popular cable car station for skiers and hikers. The total length of the ski slopes is over 50 km. They will be extended up to 125 km in several years.
- Promenade. The complex is developing in parallel with the local municipality’s project of a large promenade. It will connect the hotel with several recreational areas and sports facilities, including the main ski center.
- A new highway. Montenegro authorities are taking many efforts to develop the northern tourism cluster. To raise funds for this objective, they attract foreign investors who wish to obtain Montenegrin passports and buy some profitable property. The local development program includes the construction of a new highway between Kolašin and Podgorica. Thanks to this project, the travel time between the international airport (in the Montenegrin capital) to Kolašin will soon decrease to about half an hour.
Montis Mountain Resort project’s profile, suites, amenities, timelines for Montenegro citizenship by investment applicants
The stunning surrounding scenery and the panoramic views of the mountain ranges have obviously inspired the designers of the hotel to come up with the concept of “the sublime marriage of architecture and environment”. This shows in the architecture, the advanced eco-friendly technological solutions, the layout of green zones, the choice of materials and textures, the perfect blend of muted earth colors, and the palette of the exquisite natural surroundings.
Independent experts and sophisticated foreign clients seeking Montenegro citizenship by investment find this project a very successful synergy of the authentic local traditions, the eternal beauty of the mountains, and the designers’ new signature style.
Apart from the 5-star hotel with 238 suites, there will be 3 detached residences for guests and investors. Between and around the 4 buildings, there will be a landscaped garden and communal areas. The 4 zones will house various shared (auxiliary) facilities:
- all-day restaurant
- conference rooms
- a well-equipped capacious 3-D cinema
- a pub
- a SPA center
- outdoor and indoor pools
- a kids club
- a ski storage room
- Underground parking.
Specifications of the resort development project:
- site: 14 860 m2
- total buildup area: 28,995 m2
- usable area: 24 905 m2
- hotel capacity: 238 rooms
- number of parking spaces: 120
- building 1
- building 2
- building 3
- building 4
- underground parking
- sports grounds.
The phases of construction:
- The first phase involves the construction and furnishing of the shared facilities.
- Phases 2 to 4 involve only the construction of residences and the hotel.
- The hotel is scheduled to be commissioned in 2024.
A unique element of the project is the public space/square above the first floor. Its signature feature is the landscaped garden (see the picture) and the panoramic views of the river and the mountain range of Belasitsa. It will be a venue for staging special public events, private functions, meetings. Foreign investors who buy property and citizenship in Montenegro will definitely have the most enjoyable holidays at the resort.
Above is a picture of the wellness and spa center – 1,075 sq. m. of popular facilities, including a Finnish sauna, a Russian bath, wellness and treatment rooms, a gym, a salt cave, swimming pools (indoor and outdoor), a tepidarium, ice water barrels.
Lovers of spa treatments and indulgence who are seeking citizenship in Montenegro will be very pleased to learn more details about the resort project. One of the primary advantages of this real estate + citizenship combo in Montenegro is the fast processing and the short wait time. The passport will be yours in less than 6 months if you apply now.
Another advantage is the all-the-year-round occupancy of the recreation and leisure facilities at the resort. They are meant to be open not only for the Montis Mountain Resort guests. Any visitor not staying at the resort is also welcome! This arrangement will help the resort’s popularity as a center of public life and generate revenues important for the project’s publicity, ROI and profitability.
The newest Montenegrin hotel will be managed by Splendid, a well-known hotel group based in Budva. Such a partnership guarantees the fast yield and sustainable profitability.
From the date of the investment deed, the applicant for a second passport/citizenship/property ownership in Montenegro will be offered a free 1-week stay/year at the Splendid hotel by the sea. This offer will be valid until the construction of the Montis Mountain Resort is completed in 2024. After the commissioning of the resort, the investor will be eligible for a free 1-month stay per year in the mountains at this 5-star hotel.
Financial matters of Montenegro citizenship by investment in Montis Mountain Resort
Important: International buyers of real estate and citizenship by investment at the Montis Mountain complex in Montenegro will not have to incur any real estate maintenance costs. This advantage is unique compared to the offers of other Montenegrin developers authorized under the local economic citizenship program.
The development project was approved by the Montenegrin authorities under the local Citizenship Investment Program in September 2020. The purchase of a room (suite) in the hotel at the price of €250,000 or more is the opportunity for the investor, his/her spouse, and dependent children to obtain Montenegrin passports on the basis of one family application (a ‘package’ service).
Technically, the investors do not invest in a share (shares) of the resort or hotel. But they will be entitled to some perks shared by all investors. Therewith, each investor will be an individual owner of a private suite (or suites). Additional costs cover state fees (application fee, due diligence fee, etc.), as well as the legal support services fee (the licensed immigration agent).
Advantages for the investor:
- 40% of the net profit per hotel suite/year (generated through the room lease) is payable to the investor by the developer.
- The price of the room (suite) includes the furnishing costs.
- There are no maintenance fees for the property.
- Under the terms of the contract, the owner has the right to sell the room (suite) after a 5-year holding period.
- Until the project is commissioned in 2024, the investor will have the right to a 1-week stay a year at the Splendid Hotel (south of Montenegro) and then – the annual free 1-month stay at the Montis Mountain Resort.
- The highly reputable Splendid Conference and Spa Resort company will operate the new hotel.
Suite types at the Montis Mountain Resort eligible for your Montenegro citizenship by investment
Please explore the hotel room inventory given below, to get ready for the investment. When selecting the suite, think about your opportunity to stage future holidays, special events, business stays at the Montis Mountain Resort in Montenegro, and consider the prompts. Trust your guts and discuss your likes with our experts during a free online private session.
The 5-star Montis Mountain Resort hotel offer:
|Suite Types||Size||Suite Prices||Prompts for those buying real estate and Montenegro citizenship by investment|
|Junior||33.5 sq. m.||€0.25 mln.
|File individual applications or include qualifying dependents in your joint (family) application.|
|Splendid||43.49 sq. m.|
|Executive||72.26 sq. m.||€0.5 mln.
|Obtain Montenegrin passports for a group of 2 investors plus the dependent members of your families. This is a perfect solution for two families that maintain friendly relations.|
|Presidential||85.86 sq. m.|
Junior suite. Total size — 33.5 sq. m. Bedroom — 21 sq. m. Bathroom — 5.5 sq. m. Balcony — 7 sq. m.
Splendid Suite. Total size — 43.49 sq. m. Bedroom — 29.79 sq. m. Bathroom 5.5 sq. m. Balcony 8.2 sq. m.
Presidential Suite. Total size — 85.86 sq. m. Bedroom №1 — 29.79 sq. m. Bedroom №2 — 29.79 sq. m. Bathroom №1— 5.50 sq. m. Bathroom № 2— 5.5 sq. m. Balcony — 15.28 sq. m.
Executive Suite. Total size — 72.26 sq. m. Living Room — 18.1 sq. m. Bedroom №1 — 11.16 sq. m. Bedroom № 2 — 21 sq. m. Bathroom №1— 5.5 sq. m. Bathroom № 2— 5.50 sq. m. Balcony – 15 sq. m.
To make a more specific choice, you can compare and decide in which building or the hotel you would like to buy the suite, which suite to prefer, and which layout plan will suit you best. Besides the catalog, you will need to check which suites are available for sale.
European context and advantages of the Montenegro citizenship by investment
- The “spare airfield” for your family: Montenegro is the only place in Europe where the state-run Citizenship Investment Program operates legally. The application process involves the registration of both the principal applicant (investor) and his/her financially dependent family members (the spouse and children). The government has recently upgraded the application procedure for clients’ convenience, while the requirements and due diligence remain strict and straightforward. The application processing time is rather fast, but the wait time for the application approval by the Montenegrin authorities is from 3 to 6 months. The Montenegro passport/citizenship by investment in real estate guarantees you even during the pandemic the right to stay for a long period in this country and enjoy quality time in the mountains / by the sea.
- Visa-free travel: Having bought some real estate plus citizenship in Montenegro, the investor will acquire a useful second passport that guarantees visa-free entry to over 120 countries. This includes the Schengen Area for 90 days in any 6-month period. You can read more information in our post on visa perks for Montenegrin citizens. However, please note that, unfortunately, the visa-free travel to the USA is no longer available to Montenegro passport holders.
- Taxes: Montenegrin authorities have double taxation treaties (DTT) with many countries. The country offers progressive company profit tax rates starting from 9%. The advantage is the lack of income tax for non-residents. There are no gift or inheritance taxes. More information on Montenegro taxes and DTTs can be found in our topical article.
- European integration: Montenegro is now a member of the European Monetary Union, NATO, the OSCE and the WTO. It is neither a member of the European Union nor a signatory to the Schengen agreement. But the country is the candidate №1 for both memberships. The European integration is expected to be completed quite soon by 2025.
Opportunity to discuss and choose the Montenegro citizenship by investment options with experts
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How can I buy eligible property for Montenegro citizenship by investment?
Montenegro’s authorities accept applications for economic citizenship until December 31, 2022. They offer real estate investors several options in different parts of the country. The applicants need to donate at least €200,000 to the government fund, plus invest at least €250,000 (in the north) or €450,000 (in the south) in one of the pre-approved Montenegrin hotel/resort development projects. In return, the investor receives a passport. The ‘family offer’ of passports for the dependent family members means the principal applicant (investor) can enter dependents into his/her individual application. Montenegrin passports guarantee their holders several benefits, including visa-free travel across Europe, good prospects for a steady ROI, the right to long visits/stays in this quiet beautiful country, the annual fix-time free stay at a seaside or mountainous holiday resorts, a 40% share in the profit generated from renting the suites out, other benefits.
Is it safe to buy real estate in Montenegro for citizenship and investment?
Montenegro is interested in attracting foreign capital to development projects. You will certainly appreciate the attitude and the fact that there are NO legal restrictions for foreigners’ purchase of any real estate in Montenegro. Many experts agree that the fast ROI and capital growth potential are great. The investment in the pre-approved development projects (hotels, resorts) is an eligible ground for obtaining Montenegrin citizenship. However, please note that foreign investors can buy Montenegrin plots of land only via professional local agencies. We are happy to offer you our professional consultations and services of the local partners so that your real estate acquisition could be seamless, safe, and a good value for money.
How can I obtain Montenegrin citizenship without investment?
As a rule, in order to become a citizen by naturalization, one needs to spend 5 years in Montenegro as a temporary resident and 5 more years as a permanent resident, and stay in its territory for most of each year. Besides, you applicants will have to pass an exam in the Montenegrin language. Alternatively, the Montenegrin citizenship by investment program valid till January 2023 is a double benefit. On the one hand, it is your opportunity to become an owner of some pre-approved property and rent it out after the project’s commissioning. On the other hand, it is a fast, reliable way to obtain a Montenegrin passport without the language test for you and your family within 6 months.