This article looks at residency in Montenegro, the different ways to obtain residency in Montenegro and some of the benefits it offers.
Montenegro is a country in which Nomad Capitalist is keenly interested. It is affordable, has favorable taxes and a lucrative income. real estate walk. And as a candidate country for EU membership, Montenegro’s fortunes are sure to improve further.
Are you looking for an affordable and tax-efficient European base with strong investment potential? Talk to our team of experts today and we will find the best destination for you.
Overview of the country of Montenegro
Montenegro enjoys a privileged position in the west-central Balkans, at the southernmost tip of the Dinaric Alps. It takes its name from the black mountain Lovćen, whose height of 5,738 feet explains why Montenegro was the only one in the Balkans not to fall to the Ottoman Empire. Montenegro, however, was part of Yugoslavia and, more recently, Serbia and Montenegro before becoming fully independent in 2006.
Benefits of residency in Montenegro
Income taxes for residents of Montenegro are low. While neighboring Croatia has stolen much of the attention, Montenegro adopts minimal regulations, making it a more business-friendly base.
Setting up a Montenegrin company is relatively simple and reasonable, with the minimum share capital required being €300.
Citizenship of Montenegro
Citizenship by investment is no longer available in Montenegro.
So unless you are one of the lucky few chosen by the government to gain citizenship by exception, your options claim citizenship by descentcitizenship by marriage or naturalization.
Other requirements for obtaining citizenship and a Montenegrin passport include that your marriage includes three years of cohabitation in the country.
However, as Montenegro is not yet an EU state and its EU membership has not yet been confirmed, you might be better off looking into European Union citizenship options.
Caption: A temporary residence permit is your passport to the natural beauty of Montenegro
Residency requirements in Montenegro
Tourist visas allow a three-month visit to the country. Two main residence permits in Montenegro allow foreign citizens to stay in the country for more than 90 days. You can obtain short-term residency with a temporary residence permit, an official document called boravak in Montenegro.
Temporary residence permit in Montenegro
Foreign citizens can stay beyond 90 days in Montenegro with a temporary residence permit for the following purposes:
- Family reunion
- Secondary education or studies
- Participation in international student exchange programs or other youth programs
- Specialization, professional training and practical training
- Scientific research work
- Medical treatment
- Humanitarian reasons
- Organize religious services
- Real estate ownership in Montenegro
Go real estate route is the method we recommend to our clients since you essentially get a property that you can then sell for a profit.
Our job is to help you find the best property available and make sure you don’t overpay for it. Additionally, as Montenegro is an EU candidate country, the value of this property is likely to increase significantly in the future.
You are eligible for a temporary residence permit if:
- You have means of subsistence demonstrated by a bank account statement
- You have booked accommodation
- You have medical insurance
- You have presented supporting documents justifying the request for temporary stay
- You hold a valid passport or identity card issued by the competent authority of another state
- You are not prohibited from entering and residing in Montenegro
- You have a clean criminal record in your country of origin and in Montenegro
- You are not subject to restrictions for reasons of national security, public order or public health.
By applying for a temporary residence permit before your 90-day stay expires, you can stay in Montenegro until the Ministry of Immigration tells you whether it has decided to admit you to the country as a temporary resident.
You will receive a decision regarding your temporary residence permit within 40 days of your application for temporary residence.
Montenegro generally grants temporary residence for one year, although there may be some legal exceptions. You must request an extension of your temporary permit no later than 30 days before your temporary residence expires.
In general, we recommend the homeownership route as the simplest and also most advantageous route to residency. Montenegro real estate the market is prosperous and, with the upcoming accession to the EU, the value of Montenegrin property will certainly increase significantly.
Permanent residence permit in Montenegro
If you have lived legally in Montenegro for five consecutive years with a temporary residence permit, you are eligible for a permanent residence permit in Montenegro provided you have a clean criminal record and meet certain criteria.
Real estate property is one of them and it is the option that we recommend to our clients.
Montenegro also grants permanent residence to foreign citizens who have held a temporary residence permit in the country for less than five years in exceptional circumstances. These include humanitarian reasons or if the foreign citizen can provide something interesting for Montenegro.
Montenegro issues permanent residence permits to child family members subject to the presentation of a birth certificate and:
- Whose parents held a permanent residence permit at the time of their birth
- one of whose parents is a Montenegrin citizen with permanent residence in Montenegro or a foreigner with permanent residence, with the consent of the other parent at the time of their birth
- One of whose parents, at the time of their birth, has a permanent residence permit and the other parent is unknown or is deceased.
A decision regarding permanent residence in Montenegro is usually made within 60 days of application. This will take a maximum of six months. Permanent residence permits in Montenegro are valid for five years.
Conclusion of residency in Montenegro
Acquiring a residence card in Montenegro is similar to applying for residence in other countries. All procedures are familiar. Here is a summary of the necessary documents:
- A clean criminal record
- Birth certificate
- A statement from your bank account showing that you have sufficient funds to live in the country.
You may qualify for residency through a number of conditions, including:
- Real estate ownership of commercial or residential properties such as apartments, vacation homes and restaurants
- Family reunion
- Medical treatment.
Residency brings many benefits, including the ability to obtain a work permit, become a business owner, facilitate business start-up and apply for a Montenegrin passport. International agreements could also reduce your income taxes, thanks to double taxation treaties.
Go where you are treated best
Let’s assume you don’t just accept the second best opportunities your home country offers. In this case, Nomad Capitalist can help you improve your situation in a jurisdiction that matches your ambitions.
Our founder, Andrew Henderson, started Nomad Capitalist “to tell the story of how he cut his taxes from 43% to 1%, earned multiple second citizenships, spent time in over 100 countries in search of freedom and opportunity, and invested in countries around the world. world.”
Become a customer and go where you are treated best.
FAQs about residency in Montenegro
A residence permit can indefinitely extend a stay in Montenegro by the maximum 90 days allowed as a tourist.
You can become a permanent resident of Montenegro by legally residing in the country for five consecutive years before submitting an application for a temporary residence permit or additional protection approved by the law governing asylum.
Yes, acquiring a residence permit in Montenegro is a relatively simple process. However, there is no longer the residency shortcut offered by the abandonment of the citizenship by investment program.
We live in a paperless world. Yet bureaucratic procedures in many countries are less digital than one might imagine. We can help. Become a customer and we will take care of all the administrative formalities.