Invest in the future

Maybe this is your first visit to Montenegro or maybe you already know this region well. Either way, it’s extremely easy to lose your heart to this beautiful, diverse, welcoming country. Imagine if it were possible to not only live here and enjoy all that Montenegro has to offer, but also to take up citizenship.

Now there’s a genuine opportunity to do just that, as the Montenegrin government launches the country’s first citizenship by investment scheme.

Citizenship by investment offers individuals the opportunity to obtain Montenegrin nationality, in return for investment in the country’s real estate and a donation to fund an aspect of its development. Citizenship by investment provides a number of highly beneficial lifestyle and financial advantages, and the process is proving more popular than ever across the world. Economic citizenship programmes of this kind are regarded as a wellestablished, quick and straightforward way to invest in a country and acquire an additional citizenship and passport.

The first scheme was introduced in 1984 by the small Caribbean island nation of St Kitts and Nevis, and investors can now choose from around 25 countries to call their new home. Residency is not always a requirement, and, aside from offering citizenship without the need to emigrate, other benefits range from an additional passport to visa-free travel, attractive financial returns, and tax breaks, depending on the conditions set by each individual country. The resulting funds are used to improve the lives of each country’s entire population, so this is a wonderful way to become a global citizen and leave a lasting legacy.

While the details were still to be finalised when this edition of Luštica Bay Magazine went to press, it is likely that the Montenegro Citizenship by Investment programme will be limited to just 2,000 applications and the proposed scheme will only run for three years, ending in 2021. The deadline for applications from agents and due diligence providers was the first of February 2019, with the scheme set to launch in 2019. A Citizenship by Investment Unit has been appointed to oversee the process.

Early indications suggest that a donation of €100,000 will be required, followed by a real estate investment of between €250,000 and €450,000, alongside a fee of €15,000. It is planned that the benefits of the scheme can be extended not just to you but also to your family. For an additional €10,000 per person you can

add up to four family members, and further family members for €50,000*. The donation will be used to help fund underdeveloped local government units, while the investment funds will support development projects in the country’s northern and central areas, with the largest portion reserved for projects in the capital, Podgorica, and the coastal region, including that around our own Luštica Bay. The programme will also benefit tourism, agriculture and manufacturing, create new jobs and help to improve the quality of life for all citizens.

Montenegro is one of the fastest-growing tourist economies in the world, with a growing reputation as a high-end destination. It is economically stable, welcoming to foreign investors, and accessible, with frequent flights from many European locations often taking just a couple of hours. Factor in the government’s Touristic Masterplan to develop facilities for visitors and it’s clear that there has never been a better time to invest here. Buy property in Montenegro and, whatever its value, you can benefit from a renewable one-year residence permit.

Luštica Bay offers both off-plan and built products for sale, and buyers can capitalise on significantly lower purchase prices during construction. Investors can enjoy highly competitive real estate prices and rental yields that are among the highest in Europe, while tax on rent is low, and there is a low buy-to-sell property ratio – purchasers tend to keep their properties, so the market is not flooded with resales.

If you are thinking of renting out your property, the Luštica Bay rental brokerage service is on hand to look after the entire process on your behalf if you wish, from setting prices and handling booking to taking care of upkeep and cleaning. As part of the Luštica Bay community, you will also enjoy top-class facilities such as the marina, the future golf course, a variety of sports facilities, restaurants and cafes, as well as schools, medical services and other essential amenities.

With world-class facilities and top-quality construction and finish, Luštica Bay is the perfect place to buy, whether it’s your new home, your home from home, or an attractive investment.

* All information correct at the time of going to press, though legislative updates are likely