Investment In Development Project Enough To Obtain Montenegrin Citizenship
How To Become A Citizen Of Montenegro
Furthermore, there is a Spanish-language citizenship exam after 3-years of residency followed by approximately 1-year Supreme Court processing. Unfortunately, Paraguay has no expedited options for naturalization and its residency requirements alone stand at 3-years. Due to the reckless sale of diplomatic passports to some shady characters, as of the 26th of June, 2017, citizens of Antigua and Barbuda need a visa to visit Canada. Everyone’s passport portfolio will be different and can be filled with passports obtained in various ways. $130,000 when you count the government donation and agent fees payable to a local in-Vanuatu.
The temporary residence permit allows foreigners to stay in Montenegro for a one-year maximum. So if you decide to spend more than 90 days in Montenegro over half a year, you need to apply for a TRP. A temporary residence permit can be prolonged, however, for only one year. However, you can also qualify by investing in a local enterprise, government bonds, or a real estate or venture capital fund.
Montenegro Dual Citizenship
There is usually just a trivial fee of around $100 involved for applying for a passport booklet. With many Citizenship By Investment programs, passing your citizenship down to a future generation is not easy. This is an especially apt point right now, with countries spending billions and trillions in pandemic programs… and when countries that rely on tourism, such as those in the Caribbean, are suffering from the lack of travel.
It’s also got a flawless reputation on the investment immigration scene and fully-digital processing of all paperwork, which is especially important when a global pandemic is going on. Basically, it offers a simplified procedure to live part-time in the US as a business owner, and that makes it rather attractive to many people. Just don’t forget that Dominica has additional fees that apply when one chooses the donation investment route. You make a donation and they’ll give you a passport in just two to three short months. The two-island nation likes to refer to itself as the “platinum” citizenship program in the region. St. Kitts and Nevis runs the original economic passport program, in operation since 1984.
Important Terms In Citizenship By Investment For Montenegro
Dominica is well known as one of the most reputed and affordable programs in the eastern Caribbean region. Over the past number of years, the Montenegrin government has been successfully working on expanding its list of Visa-free countries. The present document is intended for guidance and general information only and does not constitute or purport to provide you with legal advice. Each case is unique and depends on the facts and circumstances of the individual and due consideration should be taken if applying the general information to your personal situation.
Having a second passport is something we call the ultimate insurance policy. And thanks to the COVID-19 sales and new COVID bond options, pandemic passports in the Caribbean are becoming even cheaper than usual. For example, although these programs are collectively referred to as “investments,” in many cases, you won’t actually get your investment amount back. You’ll find everything you need to know in this article– whether you are looking for the best, the cheapest, a European or a Caribbean citizenship and passport. After reading this article you’ll know whether purchasing a passport is right for you, which program is best for your personal situation, and how to ensure that you don’t get scammed. The applicant can choose two routes to qualify for the Citizenship by Investment program of Montenegro.
Strategically, Montenegro is caught between Russia on one hand and the EU and NATO allies on the other. Even if this (now fairly low-level) conflict doesn’t escalate to a security concern, it’s clear that changing winds can affect real estate prices. Stats like doctors per capita are a concern for some and you will probably have to travel to Croatia, Serbia or another nearby country for cutting-edge hospital procedures. Keep in mind that everyone’s experience is individual and there are some drastic differences between the coastal area, Podgorica and the rest of Montenegro. Reciprocal agreements that allow retirees to keep some or all of their health and pension benefits from their home country. Construction and house prices make it clear that most expats are attracted to Montenegro’s coastal areas.
Quite frankly, we would prefer Montenegro never join the EU and remain an independent country. For one, Montenegro has very low tax rates – some of the lowest in Europe at just 9% – and we can only imagine that would come under some scrutiny if they were to join the EU. If you want an EU passport, you are taking a bet by choosing Montenegro over the programs that really are guaranteed, like Malta.
These costs vary depending on how many people besides you, the main applicant, are included as part of the application process. To spur immigration and investment into the country, Montenegro instituted a citizenship by investment program to offer people a pathway to citizenship in the country, while also addressing their need for Foreign Direct Investment . Next Generation Turkish staying permit Equity is a legal and government-approved firm processing second citizenship applications. We handle the application process from start to finish, with utmost level of care, confidentiality and attention to detail. For years, Next Generation Equity’s Citizenship Experts have helped individuals and families become citizens of various European and Caribbean countries.
Montenegro also has double taxation treaties with a number of other countries out there as well. At 9% generally, the country has one of the lowest tax rates in the developed or developing world, which usually tax their citizens and residents at 10% to 35+%. Ensure that your application forms are completed, accompanied by appropriate fees and supporting documents for yourself and all eligible family members. This includes spouse, dependent adult children, and dependent children under 18 years of age. Certified passport copies, certified copies of ID cards, birth certificates, marriage certificates, insurance policies, and medical certificates are needed.
Turkey is the only citizenship by investment program that allows you to invest in any real estate you want. If you’re looking to purchase real estate to use as a summer home, Montenegro could be a good alternative passport to pick up alongside Turkish staying permit your investment. That is, as long as you’re willing to pay a bit of a premium to buy the government-approved real estate and toss in a donation. It’s also a good option if you’re interested in doing business in the UAE or Russia.
Like Malta and Cyprus, Bulgaria’s citizenship by investment program begins with residency. For investors who chose to invest in other Crypriot assets, the real estate purchase of €500,000 was added to their €2,000,000 investment. Then, within 12 months of maintaining Maltese residency, you’ll obtain citizenship and a passport for visa-free travel to 158 countries. The European Union is a political and economic union of 27 European states with a single market allowing for the free movement of people, goods, services, and money. Citizens of one EU country are free to study, work, live, and retire in any other EU country.
Caribbean Passports Are On Sale
Your second passport of a peaceful country can be nothing more than life-saving if your home country experiences political unrest. Such a benefit is one of the best when you are concerned about yourself and your family. Residents of Saint Lucia, for example, pay a personal income tax scale based on domestic activity. Individuals who are not residents are only taxed on income earned in their home country. On worldwide income or assets, there are no capital gains, inheritance taxes, or wealth taxes. Antigua and Barbuda residents and citizens enjoy relatively low tax rates.
We will gladly answer all your questions regarding the Montenegro citizenship by investment program. Find out everything that you feel you might need including money issues, price questions, documents, etc. After you find out everything you want, it will be easier to proceed to all steps to achieve Montenegro citizenship.
Besides, it is becoming more and more popular with international investors who seek mobility, security, and a better quality of life. A special program has been designed for such investors by the Government of Montenegro that allows obtaining full citizenship of the country and a second passport in exchange for investment. Residents of almost all countries of the world, excluding the sanctioned ones, can acquire citizenship of Montenegro on the Balkan Peninsula in exchange for investment. How can you technically acquire citizenship by investment into real estate or business in Montenegro? What documents are required and what procedures do you have to go through in order to become a Montenegrin citizen? In exchange for the real estate investment or donation, investors receive a second passport that allows visa-free travel to 122 countries, including the Schengen area, the United Kingdom and Brazil.
This is a non-refundable investment that any applicant makes for getting quick citizenship. The government of Montenegro launched the Montenegro Citizenship-by-Investment Program in 2019. This program is launched to increase the interest of foreigners for foreign direct investment that helps in the country’s economic growth.
At the same time, the package of documents for the application for citizenship is being collected. The Montenegrin economy was noted to be one of the fastest-growing economies in Europe, with economic growth rates in 2017 and 2018 being 4.7% and 4.9% respectively. Thanks to an open approach work permit turkey to the economy within a business-friendly environment, Montenegro has attracted a lot of Foreign Direct Investment over the years. The total net inflow of FDI in the first nine months of 2019 was €227.3 million, which was 48% more than during the same period the previous year.
Blogs to help you gain insights on business, business immigration, international immigration, work Permit, finance, Starting Business and expanding business, banking, Education. Providing HR services like HR Consulting, HR management, payroll, PEO and even immigration requirements. Many people haven’t even considered a Plan B – a plan that ensures no matter what happens next in your home country, you’ll have options and thrive.
The range of visa-free travel opportunities will likely expand if Montenegro is admitted as an EU member state. Residency is granted within three weeks of making your application, and full citizenship takes an average of 3 months, maximum 6 months. Citizenship by investment programs offer you the opportunity to legally acquire a new nationality and an alternative passport quickly and simply, without major disruption to your life. Other countries offer a route to citizenship following a reasonable period of residence, such as Australia, Canada, Greece, Portugal, Singapore, the UK, and the USA.
Luckily, citizenship by investment isn’t the only way you can get a second passport. Citizenship by descent, marriage, and naturalization are also legitimate ways to get a citizenship abroad. Ideally, a citizenship by investment should only be one of several passports you hold. And if you are in no particular rush, residence by investment could give you a solid path toward citizenship via naturalization after making an investment in exchange for residence in any number of countries. US citizens who wish to quickly renounce their citizenship may benefit from pursuing a second citizenship by investment. Vanuatu’s passport is one of several economic citizenships that offer visa-free travel to Russia.
- Investors will be issued permanent residency within 3 weeks and after6 monthswill receive naturalisation certificate for citizenship and passport.
- Montenegrin citizenship by investment and a second passport from a European nation is an attractive option for many of our clients.
- Guidance will be provided to the applicant throughout the preparation stage.
- Please note sometimes for big families, real estate investment is cheaper than the donation option.
As a young state, it truly offers a unique potential for investors seeking mobility, safety, security, opportunity, and increased quality of life. After years of consideration, in 2018 Montenegro finally decided to join the ever-expanding list of countries seeking to attract foreign direct investments through citizenship by investment programs. Effective January 2019 this program is available for up to 2,000 applicants from non-EU countries , for a limited period of 3 years. Approved CBI Property & a €100,000 one-time non-refundable Government Contribution, Montenegro’s program is one of the most competitive CBI Program in Europe.