Important factors to consider in residence planning
Henley & Partners, the global leader in residence and citizenship planning, is delighted to announce the successful completion of the Montenegro Citizenship-by-Investment Program application process by one of our clients. This marks the first program applicant to receive both their citizenship and their passport. We are also pleased to confirm that Henley & Partners Montenegro has had its accredited agent license under the citizenship program renewed for another year.
The Montenegro Citizenship-by-Investment Program offers high-net-worth investors significant opportunities in a dynamic regional market, along with a powerful passport that provides visa-free access to over 120 destinations worldwide including Europe’s Schengen Area. Despite the disruption caused by the coronavirus pandemic, the completion of the first citizenship-by-investment application process in Montenegro is a testament to the program’s impressive efficiency and firm commitment to best practice. The program is drawing the attention of a growing number of wealthy individuals from across the globe who see it as an excellent investment destination that also offers the opportunity to acquire an attractive alternative citizenship for themselves and their families.
Applicants to the Montenegro Citizenship-by-Investment Program are required to make a defined economic contribution to the country. In exchange, and subject to a stringent vetting and due diligence process including thorough background checks, applicants and their families are granted Montenegrin citizenship. The main applicant must be over 18 years of age, meet the application requirements, and contribute EUR 100,000 to the Government of Montenegro, designated for the advancement of local under-developed, self-government units. In addition, applicants can invest at least EUR 450,000 in an approved real estate development project in the capital Podgorica or in the popular coastal region of Montenegro. Alternatively, they can invest a minimum of EUR 250,000 in an approved real estate development project in the northern or central regions of Montenegro (excluding Podgorica). Additional government processing fees and other application fees apply.
CEO of Henley & Partners Dr. Juerg Steffen commented: “This is a significant milestone both for the Montenegro Citizenship-by-Investment Program and for Henley & Partners, and we are confident that further successes will follow. The resulting increase in business activity and new employment opportunities created will encourage vibrant socio-economic growth that will benefit all Montenegrins. Investment migration enables sovereign states such as Montenegro to tap into a new source of sustainable revenue without becoming overleveraged. I firmly believe that in the post Covid-19 environment, as in the wake of previous disruptions such as the 2008 financial crisis, residence and citizenship programs will create significant value both for investors and for sovereign states in need of alternative revenue streams.”