citizenship by investment program (cip) in montenegro

Christmas webinarCitizenship by investment program (CIP) in MontenegroDeloitte Serbia, 09 December 2019

Dejan MrakovicPartner

Tatjana MilenkovicDirector

Aleksandra AnokicSenior consultant

Predrag JovanovicConsultant

Global Employer Services

Deloitte Serbia

Montenegro CIP

About Montenegro 4

CIP in Montenegro 6

Taxation in Montenegro 14

Why Montenegro 15

Contents

@2019 For more information, contact Deloitte Serbia


About Montenegro

Montenegro CIP

• The smallest ex-Yugoslav Republic country (approx. 650,000 citizens)

• A wide range of investment possibilities with outstanding geographical diversities and landscapes

• One of the fastest growing economies in the region

• An ideal destination for families looking for security, mobility and European lifestyle

• Economy is transitioning to a market system

• 90% of Montenegrin state-owned companies have been privatized, including 100% of banking, telecommunications and oil distribution

• 20% of Montenegro’s GDP generated from tourism

Passport

Montenegro CIP

International travel

10 years validity

Visa-free & visa on arrival for 117 countries and territories,

including the Schengen Area (EU), Switzerland and Singapore

34th in the world (Passport Index data)


Citizenship by investment program

Montenegro CIP

Key notes

Launched in October 2018

Implementation as of January

1st, 2019

Currently only 4 cases have been initiated and are being

processed

Strategic investments for modernization

and diversification of Montenegrin

economy


3 years program Highest transparency level2,000 citizenships Investment in development

Citizenship by investment program

Montenegro CIP


Preconditions

Montenegro CIP

Valid passport

Source and origin of

invested funds documentation

No criminal record

No disease record

Positive opinion of the due diligence

agent

Power of attorney and

the investment agreement


Application fees

Montenegro CIP

Applicant

• EUR 15,000

Max 4 family members

• EUR 10,000

More than 4 family members

• EUR 50,000


Applicant

Spouse Children >18 Children <18

Investment options

Montenegro CIP

•€100,000 government fund donationGovernment Fund Contribution

•€250,000 investment in the Northern/Central region or

•€450,000 investment in the Coastal region and Podgorica

Tourism, Agriculture or Industry Investment


Investment options

Montenegro CIP

Coastal region and Podgorica

Min 5 stars rating

Min 60 accommodation

units

Min EUR 15 million

investment

Min 80 new employees

Northern/Central region

Min 4 stars rating

Min 35 accommodation

units

Min EUR 5 million

investment

Min 25 new employees

Touristic development projects

Agriculture and Industry development projects – still in development phase


The process

Montenegro CIP

Rigorous and diligent preparation

Approx. 4 to 6 months completion

•Application and pre-

approval by authorized

agent

1

•Application Submission

to the Secretary

2 •Secretary processing

•Submission to due

diligence Agency

3

•Submission to the Police

4 •Police

submits to the

Government

5

•Government approval

6

•Investment

•Citizenship

7


Montenegro CIP

Deprivation


1

Deliberately concealing information

2

False information by applicant

3

False information by the agent

4

Less than 5 days spent

in Montenegro in 5 calendar

years

Montenegro CIP

Taxation in Montenegro


Tax Summary

Corporate Income Tax

9%

Withholding Tax

9%

Capital Gains Tax

9%

Personal Income Tax

9%/11%

Property Tax

0.25%-1%

VAT

21%/7%

Why Montenegro?

Montenegro CIP

Memberships

Official candidate for EU membership and a full member of NATO,

UN and WTO organizations

Taxes

Low tax policy for established businesses

Economy

New luxury tourism complexes on the

Adriatic cost

Energy and agriculture as two

distinct pillars of the economy

Residence and work

Legal framework for fast and inexpensive business immigration

One month temporary residence and work permit procedure

Crime

One of the lowest crime rates in Europe

Citizenship

Dual citizenship allowed only for this

program

Location

Strategic geographical location in Europe

with direct access to Adriatic Sea


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citizenship by investment program (cip) in montenegro

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