Henley & Partners - The Firm of Global Citizens

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Henley & Partners

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Henley & Partners The Global Leader in Residence and Citizenship by Investment

MAGAZINE

THE DEFINITIVE LIFESTYLE MAGAZINE

Henley & Partners is the global leader in residence and citizenship by investment. Each year, hundreds of wealthy individuals and their advisors rely on our expertise and experience in this area. The firm’s highly qualified professionals work together as one team in over 35 offices worldwide. The firm also runs a leading government advisory practice that has raised more than USD 10 billion in foreign direct investment. For more information on acquiring alternative citizenship, e-mail yourfuture@henleyglobal.com or visit henleyglobal.com

Antigua · Australia · Austria · Canada · China · Cyprus · Grenada · Hong Kong · Indonesia · Israel · Latvia · Malaysia · Malta · Montenegro · Nigeria · Pakistan

Secure your family’s future with alternative citizenship

Define your Future Philippines · Portugal · Qatar · Singapore · South Africa · South Korea · Spain · St. Kitts · St. Lucia · Switzerland · Thailand · Türkiye · UAE · UK · USA · Uzbekistan · Vietnam

T

he Montenegrin Citizenship by Investment program created significant benefits, including over half a billion euros in investments to the country and applicants of the highest caliber. In the texts published in 'The Collection' magazine over the past few years, you will be able to see important facts that showcase the development and growth of the program, all while maintaining the central importance of thorough background verification processes carried out by renowned international specialists in this field.

Now, Henley & Partners stays committed to continuing its important work in Montenegro and the region, with a professional office in Podgorica that, in addition to processing ongoing cases, provides support in matters of investment migration programs globally, residence in Montenegro, obtaining luxury real estate in the region, and global education placement services.

Henley & Partners is the global leader in residence and citizenship by investment. Our highly qualified professionals work together as one team in over 40 offices worldwide.

The concept of residence and citizenship planning was created by Henley & Partners in the 1990s. In Montenegro, the firm is an active member of MFIC and AmCham Montenegro.

Kind regards, Rade Ljumović Managing Partner Office Head Montenegro and Greece

The Collection has been present for over 12 years and during that we published 35 editions of this luxury magazine. As a regional magazine we are present in Montenegro, Serbia, Croatia, Slovenia, Bosnia and Herzegovina, Albania, and from this issue also in North Macedonia. It is an immense pleasure to create a magazine of top quality and astonishing content, which annually counts 29,000 printed copies.

Committed to further progress, we are developing a digital component and creating special electronic editions. Renowned platforms ISSUU and PRESSREADER play a crucial role in our intention to make them globally recognized. By doing so, our goal is to win readers worldwide by presenting top notch content that we have been promoting for last 12 years.

Hence, we present to you our special electronic edition dedicated to Henley & Partners, a global leader in the field of residence and citizenship through investment. Through this edition, which represents a retrospective of their advertising in The Collection magazine, you will explore the evolution of Henley & Partners and familiarize yourself with the high standards of expertise followed by their highly qualified experts, coordinated in over 40 offices worldwide.

Enjoy the exciting novelties in the upcoming editions that will further enrich your reading experience and provide you with deeper insights into the possibilities and benefits offered by various residency and citizenship program options.

Best regards, Your The Collection team

THE COLLECTION MAGAZINE volume 29 | Spring-Summer 2021

EXCLUSIVE INTERVIEW WITH DR. JUERG STEFFEN CEO OF HENLEY & PARTNERS -

Sovereign equity providing a competitive edge

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The Antigua and Barbuda Citizenship-by-Investment Program remains the most popular program in the Caribbean in 2021

The Collection Editor in Chief Sandra Henley & Partners Vlatković interviewed Dr. Juerg Steffen, Executive Officer of Henley & Partners had 35% more Chief — Juerg has over 30 years’ experience in the enquiries in the first financial services industry and is widely regarded as a leader of the investment migraquarter of this year tion industry. compared to the .The investment migration industry appears Q be going from strength to strength. Have previous quarter. any newto trends emerged in 2021 as the world conto grapple with the Covid-19 pandemic?

We continue to tinues A. Dr. Juerg Steffen, Chief Executive Officer of Henley & Partners: Last year there was a huge spike receive the most in interest in residence- and citizenship-by-investwhich shows no sign of waning in 2021. At enquiries from ment, Henley & Partners we had 35% more enquiries in first quarter of this year compared to the preIndian nationals, the vious quarter. We continue to receive the most from Indian nationals, with US citizens with US citizens in enquiries in second place. Since the Brexit transition finally on 31 December 2020 there has been a surge second place. ended in interest shown by British investors, and for the

first time ever the UK has climbed to third position in terms of the number of enquiries we have received. By mid-April, we had already received almost 80% of the level of enquiries we received from UK citizens across the whole of 2020, which is remarkable.

Intervju sa Dr Juergom Steffenom, glavnim izvršnim direktorom Henley & Partners Suvereni kapital kao konkurentska prednost Glavna urednica The Collection Sandra Vlatković intervjuisala je dr Juerga Steffena, glavnog izvršnog direktora kompanije Henley & Partners — globalnog lidera u planiranju prebivališta i državljanstva. Juerg ima preko 30 godina iskustva u sektoru finansijskih usluga i generalno ga smatraju liderom u sektoru investicionih migracija. Čini se da sektor investicionih migracija ide iz uspjeha u uspjeh. Da li su se pojavili neki novi trendovi tokom 2021. godine, dok svijet nastavlja da se bori protiv pandemije kovid-19?

Prošle godine zabilježen je ogroman porast interesovanja za sticanje prebivališta i državljanstva putem ulaganja, koji ne pokazuje znakove opadanja u 2021. godini. Kompanija Henley & Partners primila je 35% više upita u prvom kvartalu ove godine

The Portugal Golden Residence Permit Program is the most popular in Europe and globally

In terms of popular programs in Europe, the Portugal Golden Residence Permit Program remains the most enquired-about program on the continent, and in fact, overall. The Montenegro Citizenshipby-Investment Program is continuing to attract a great deal of attention this year as it did last year.

There has been a noticeable increase in interest in Austria in 2021.

Further afield in the Caribbean, the Antigua and Barbuda Citizenship-by-Investment Program remains the most popular program in the region in 2021 based on enquiries received, followed by the St. Kitts and Nevis Citizenship-by-Investment Program, and the St. Lucia Citizenship-by-Investment Program.

There have been several reports of affluent investors opting for ‘domicile diversification’ to secure enhanced value and yield. Can you expand on this interesting new market dynamic?

Certainly. The rise in interest shown by ultrahigh-net-worth individuals globally — even those from advanced economies with premium passports and world-class healthcare systems — is evidence of a new trend towards what Henley & Partners has dubbed ‘domicile diversification’. We see many affluent investors now looking to create integrated investment migration portfolios of complementary residence and citizenship options. They all share

u odnosu na prethodni kvartal. I dalje najviše upita dolazi od indijskih državljana, a na drugom mjestu su američki državljani. Otkako se tranzicija Brexita konačno završila 31. decembra 2020. godine, došlo je do velikog porasta interesa kod britanskih investitora, a Ujedinjeno Kraljevstvo se po prvi put popelo na treću poziciju po broja upita koje smo dobili. Do sredine aprila, već smo primili gotovo 80% nivoa upita koje smo dobili od građana UK tokom cijele 2020. godine, što je izvanredno. Što se tiče popularnih programa u Evropi, program zlatnih boravišnih dozvola u Portugalu i dalje je najtraženiji program na kontinentu i, zapravo, sveukupno. Crnogorski program za sticanje državljanstva putem ulaganja i ove godine privlači veliku pažnju, baš kao i prethodne. Primjetan je porast interesa za Austriju u 2021. godini.

Nešto dalje na Karibima, Program za državljanstvo Antigve i Barbude putem ulaganja ostaje najpopularniji program u toj regiji u 2021. godini na osnovu primljenih upita, a slijede ga programi za državljanstvo Sent Kitsa i Nevisa i Santa Lucije.

Bilo je nekoliko izvještaja o imućnim investitorima koji su se odlučili za „diversifikaciju domicila“ kako bi osigurali veću vrijednost i prinos. Možete li nam reći nešto više o toj zanimljivoj novoj tržišnoj dinamici?

In terms of popular programs in Europe, the Portugal Golden Residence Permit Program remains the most enquired-about program on the continent, and in fact, overall. The Montenegro Citizenshipby-Investment Program is continuing to attract a great deal of attention this year as it did last year.

Boka Bay Montenegro — the five-star fjord

More and more optionality in terms of where they can live, work, and invest, for themselves and their families. investors are study, More and more investors are realizing that while single alternative residence or citizenship will alrealizing that while aways be a great asset, as a hedge against manifold levels of volatility, investing in a suite of domiciles a single alternative worldwide provides an enhanced combination of value and long-term yield. Most investresidence or short-term ment migration program options include the whole citizenship will family, and many extend to parents, siblings, and even grandparents. The more jurisdictions a family always be a great can access, the more diversified its assets and opand the lower its exposure to countryasset, as a hedge portunities specific risk and global uncertainty will be.

Over the past 18 months we have learned that noagainst manifold where is infallible — even the world’s superpowers floundered and many failed their citizens. Entreprelevels of volatility, neurs and investors from emerging and developed alike now recognize and appreciate that investing in a economies a diversified investment migration portfolio adds suite of domiciles impetus to their wider wealth planning and legacy management strategies, acting as a buffer against worldwide further downside, generating new value, and improvides an proving the entire family’s well-being Henley & Partners is well known for the Henley enhanced Passport Index, which ranks the passport strength of countries according to how many destinations combination of passport holders can travel to visa-free or without a visa in advance. With ongoing travel short-term value requiring restrictions, however, most people are still unable international travel. Can you share and long-term toanycontemplate insights on the future of global mobility?

We are all painfully aware that travel practically yield. ground to a halt for many months last year, and the same intention — to access health security and

although there are signs of hope for international

Svakako. Porast interesovanja koje su iskazali pojedinci sa izuzetno visokom neto vrijednošću na svjetskom nivou — čak i oni iz naprednih ekonomija sa najjačim pasošima i zdravstvenim sistemima svjetske klase — dokaz je novog trenda ka onome što su Henley & Partners nazvali "diversifikacija domicila". Vidimo da mnogi bogati investitori sada žele da izgrade jedinstveni portfelj investicionih migracija sa komplementarnim opcijama državljanstva i boravka. Svi oni imaju istu namjeru — da ostvare pristup zdravstvenoj sigurnosti i mogućnosti izbora u pogledu mjesta na kojem mogu da žive, rade, studiraju i investiraju za sebe i svoju porodicu.

Sve više i više investitora shvata da, iako će jedno alternativno boravište ili državljanstvo uvijek biti velika prednost, kao zaštita od višestrukih nivoa volatilnosti, ulaganje u paket boravišta širom svijeta pružiće napredniju kombinaciju kratkoročnih vrijednosti i dugoročnih prinosa. Većina opcija programa migracije investicija uključuje cijelu porodicu, a mnoge se odnose i na roditelje, braću i sestre, pa čak i bake i djedove. Što je veći broj jurisdikcija kojima porodica može da ima pristupa, to će njena imovina i mogućnosti biti diversifikovaniji i biće manja izloženost riziku specifičnom za određenu zemlju i globalnoj neizvjesnosti.

U proteklih 18 mjeseci naučili smo da nema nepogrešivih — čak su se i svjetske velesile zaplele i mnoge podbacile prema svojim građanima. Preduzetnici i investitori iz ekonomija u razvoju jednako kao i razvijenih ekonomija sada prepoznaju i shvataju da raznoliki portfelj investicionih migracija daje zamah njihovim širim strategijama planiranja bogatstva i upravljanja nasljeđem, djelujući kao tampon protiv daljeg opadanja, generišući novu vrijednost i unapređujući dobrobit cijele porodice.

Mount Lovćen — the heart of Montenegro

travel now that vaccines are available, it is obvious that mobility will not be restored to previous levels for some time. Yet as FutureMap founder Dr. Parag Khanna pointed out in the Henley & Partners Global Mobility Report 2021 Q2, this forced immobility seems to have evoked — in many people across the globe — a strong urge to move. Many are leaving urban centers for more rural locations with space and cleaner air. Others are moving between cities or regions — one example is San Francisco, which has seen the departure of a steady stream of tech workers for the past year. And others, like our clientele, are relocating internationally, in pursuit of better futures for themselves and their families. So while short-term travel for leisure purposes has been severely curtailed, this does not mean that people can’t and won’t be on the move.

Another consequence of the lockdown was the realization that should a similar situation arise in future, we should all be better prepared. We believe that this is partly what has prompted the enormous interest in investment migration products, as having access to more than one country and multiple jurisdictions has become more appealing than ever in the current context.

The Montenegro Citizenship-by-Investment Program was originally created to, in the initial phase, run until the end of 2021. Has the program been attracting much interest?

The Government of Montenegro developed the Montenegro Citizenship-by-Investment Program and then launched the program in 2019 as part of its ongoing efforts to attract foreign direct investment and increase economic activity in the country.

Montenegro’s program ranks 3rd in the Investment Migration Programs 2021 Global Citizenship Program Index, making it a top choice among investors. We have seen immense interest in the program since it launched, and we expect this to continue for the rest of the year, particularly now that there is a deadline for applications.

Applicants are required to make a defined economic contribution and in exchange, subject to a stringent vetting and due diligence process, they and their families are granted Montenegrin citizenship. This holds great appeal for many global highnet-worth investors, as Montenegro has much to

Henley & Partners je poznat po Henley indeksu za pasoše, kojim se rangira snaga pasoša zemalja prema tome na koliko odredišta imaoci pasoša mogu da putuju bez vize odnosno bez potrebe za vizom unaprijed. Sa tekućim ograničenjima putovanja, međutim, većina ljudi još uvijek nije u stanju da razmišlja o međunarodnim putovanjima.

Možete li podijeliti sa nama bilo kakav uvid u budućnost globalne mobilnosti?

Svi smo bolno svjesni da su se putovanja praktično zaustavila dugi niz mjeseci prošle godine, i premda postoje znakovi nade za međunarodna putovanja sada kad su vakcine na raspolaganju, očito je da se pokretljivost još neko vrijeme neće vratiti na raniji nivo. Ipak, kao što je osnivač FutureMap-a dr Parag Khanna istakao u Izvještaju o globalnoj mobilnosti koji je naša kompanija uradila za 2021. godinu, čini se da je ova prisilna nepokretljivost kod mnogih ljudi širom sveta izazvala snažnu potrebu za kretanjem. Mnogi odlaze iz gradskih centara na ruralnije lokacije gdje imaju više prostora i čistiji vazduh. Drugi se kreću između gradova ili regija - jedan od primjera je San Francisco, koji je posljednjih godinu dana svjedočio stalnom protoku tehnoloških radnika. A neki, poput naše klijentele, sele se u inostranstvo, u potrazi za boljom

The program was particularly popular with US citizens last year, with high numbers of enquiries also made by UK and South African investors. Montenegro may be one of Europe’s smallest countries, but it should not be overlooked.

By participating in the Montenegro Citizenshipby-Investment Program, investors are making a good investment and also acquire citizenship of a country that is an official EU candidate, with a multi-national, multilingual community, a mild, Mediterranean climate, beautiful scenery, and a low cost of living. Montenegrin passport holders also enjoy visa-free or visa-on-arrival travel to Europe’s Schengen Area.

Skadar Lake – just one example of the postcard perfect beauty of Montenegro

Significant progress US citizens last year, with high numbers of enquiralso made by UK and South African investors. will be made this ies Montenegro may be one of Europe’s smallest counbut it should not be overlooked. By participatyear as 2021 is the tries, ing in the Montenegro Citizenship-by-Investment first fully operative Program, investors are making a good investment also acquire citizenship of a country that is an year of the program, and official EU candidate, with a multi-national, multicommunity, a mild, Mediterranean climate, which was launched lingual beautiful scenery, and a low cost of living. Montelate in 2019, and negrin passport holders also enjoy visa-free or visalast year was on-arrival travel to Europe’s Schengen Area. past 15 years have seen Montenegro emerge negatively impacted asThea key second-home and real estate-investor

by Covid-19. At market in the Mediterranean. Can you share with some of the most attractive real estate options Henley & Partners uscurrently available?

One reason remarkable success we are receiving is that it catersforto Montenegro’s investors with a diverse range of applications from interests and requirements, who have the luxury of between glamorous seaside resorts, quaint candidates of the choosing waterfront houses, and new establishments servicincreasingly popular and developing mountain highest caliber, who ing and ski areas in the north. will make a hugely In addition to a contribution of EUR 100,000, for the advancement of local, underpositive impact on designated developed, self-government units, an investment of least EUR 450,000 in an approved real estate deMontenegro. atvelopment project in Podgorica or in the coastal reoffer. The program was particularly popular with

gion of Montenegro is required, or alternatively, an investment of at least EUR 250,000 in an approved development project in the northern or central region of Montenegro, excluding Podgorica.

On the coast one can invest in new hotels that are

budućnošću za sebe i svoje porodice. Dakle, iako su kraća putovanja u svrhe odmora i rekreacije ozbiljno smanjena, to ne znači da ljudi ne mogu i neće biti u pokretu.

Drugi nusprodukt „zaključavanja“ bila je spoznaja da bi, ukoliko se slična situacija dogodi u budućnosti, svi trebalo da budemo bolje pripremljeni.

Vjerujemo da je to djelimično ono što je podstaklo ogroman interes za proizvode investicionih migracija, jer je pristup više nego jednoj zemlji i većem broju jurisdikcija postao privlačniji nego ikada u trenutnom kontekstu.

Program sticanja državljanstva putem ulaganja u Crnu Goru prvobitno je kreiran da bi — u početnoj fazi — tekao do kraja 2021. godine. Da li program privlači veliko interesovanje?

Vlada Crne Gore izradila je Posebni program ulaganja za sticanje crnogorskog državljanstva putem ulaganja, i potom ga pokrenula 2019. godine u okviru svojih stalnih napora da privuče strane direktne investicije i poveća ekonomsku aktivnost u zemlji. Crnogorski program zauzima treće mjesto prema Indeksu globalnih programa državljanstva u Programima investicionih migracija u 2021, što ga čini vrhunskim izborom među investitorima. Svjedoci smo velikog zanimanja za program otkako je pokrenut, a očekujemo da će se to nastaviti do kraja godine, posebno sada kada postoji krajnji rok za aplikacije.

Od kandidata se traži da uplate definisani ekonomski doprinos, a u zamjenu za to, prolazeći kroz strogi postupak provjere i dubinske analize, oni i njihove porodice dobijaju crnogorsko državljanstvo. Ovo privlači mnoge svjetske investitore visoke neto vrijednosti, jer Crna Gora ima mnogo toga da

being developed by reputable developers, including cutting-edge options such as SIRO — a fitness and well-being hotel brand by Kerzner International — and InterContinental in the south, while in the mountainous northern parts, where the ski centers are located, one can invest in Swissôtel and Movenpick, for example.

Significant progress will be made this year as 2021 is the first fully operative year of the program, which was launched late in 2019, and last year was negatively impacted by Covid-19. At Henley & Partners we are receiving applications from candidates of the highest caliber, who will make a hugely positive impact on Montenegro.

ponudi. Program je bio posebno popularan među američkim građanima prošle godine, sa velikim brojem upita koji su uputili i investitori iz Ujedinjenog Kraljevstva i Južne Afrike. Crna Gora je možda jedna od najmanjih evropskih zemalja, ali se nikako ne smije zanemariti. Učešćem u crnogorskom programu, investitori realizuju kvalitetnu investiciju, a pored toga stiču državljanstvo države koja je zvanični kandidat za EU, sa multinacionalnom, višejezičnom zajednicom, blagom mediteranskom klimom, prekrasnim pejzažima i niskim troškovima života. Vlasnici crnogorskih pasoša takođe uživaju u režimu putovanja bez viza ili sa vizom koja se dobija prilikom dolaska u evropsko šengensko područje.

What other residence- and/or citizenship-byinvestment options does Europe have to offer to ultra-high-net-worth investors looking to diversify their domicile and real estate portfolios?

European residence- and citizenship-by-investment programs are widely known as ‘golden visa’ programs, and their appeal lies in that they are well established and operate smoothly, the vast majority offer visa-free access to Europe’s Schengen Area, and all offer high standards of living and healthcare — and there is a surprisingly high number of choices. Eight of the top ten countries in the Global Residence Program Index published in Investment Migration Programs 2021 are in Europe, with Austria and Portugal sharing the top spot. Austria is an excellent option for economically solvent individuals and offers its residents a quality of life among the highest in Europe and equally high levels of security. Participating in the Portugal Golden Residence Permit Program enables you to apply for citizenship after five years as a legal resident while keeping other citizenship(s). The residence requirement is low — thirty-five days over a five-year period in a country that is considered one of the world’s most globalized and peaceful nations.

Italy and Switzerland are ranked 2nd in the Global Residence Program Index. Italy has become an appealing option for retirees after introducing a pensioner tax regime that grants significant benefits to new tax residents who receive foreign income.

Switzerland offers political and economic stability and ranks among the world’s top countries in which to live, making it an ideal choice for affluent individuals and families who are financially independent, with sufficient wealth to cover their living costs.

Another interesting alternative to consider is Malta — the Mediterranean’s best-kept secret that has risen to be one of Europe’s leading investment locations, driven by its reputation for stability, predictability, and security. The island nation’s spectacular natural beauty and relaxed lifestyle makes it an extremely desirable location and it recently launched the Malta Permanent Residence Programme after announcing new Granting of Citizenship for Exceptional Services by Direct Investment Regulations (S.L. 188.05) late last year. These are just a few examples of what is available in Europe.

U posljednjih 15 godina Crna Gora se pojavila kao ključno tržište za tzv. drugu kuću i investitore u nekretnine na Mediteranu. Možete li nam reći koje su neke od najatraktivnijih trenutno dostupnih opcija za nekretnine?

Jedan od razloga za izuzetan uspjeh Crne Gore je taj što zadovoljava investitore sa raznovrsnim spektrom interesa i zahtjeva, koji tako imaju luksuz da biraju između glamuroznih primorskih rizorta, neobičnih kuća na obali mora i novih objekata koji opslužuju sve popularnija i sve razvijenija planinska i skijaška područja na sjeveru.

Pored uplate od 100.000 EUR, predviđenog za unapređenje nedovoljno razvijenih jedinica lokalne samouprave, neophodno je ulaganje od najmanje 450.000 EUR u odobreni projekat razvoja nekretnina u Podgorici ili u primorskom regionu Crne Gore, ili alternativno, od najmanje 250.000 EUR u odobreni razvojni projekat u sjevernom ili centralnom regionu Crne Gore, isključujući Podgoricu.

Na primorju se može ulagati u nove hotele koje razvijaju renomirani investitori, uključujući vrhunske opcije kao što su SIRO - brend hotela za fitness i well-being kompanije Kerzner International i InterContinental na jugu, dok u planinskim sjevernim dijelovima, gdje se nalaze skijaški centri, može da se ulaže, recimo, u Swissôtel i Movenpick.

Ove godine će se postići značajan napredak, jer je 2021. prva u potpunosti operativna godina programa, koji je pokrenut krajem 2019. godine, a prošla godina je bila pod negativnim uticajem kovida-19.

Kompanija Henley & Partners dobija aplikacije kandidata najvišeg kalibra, koji će imati izuzetno pozitivan uticaj na Crnu Goru.

What is your outlook for the investment migration industry for the rest of 2021 and beyond?

The short answer to that question is that my outlook is extremely positive. One of the core premises of investment migration is to enhance a country’s economy in exchange for residence or citizenship rights for individual investors — a classic ‘win–win’ formula. But the benefits of residence- and citizenship-by-investment programs for host nations go

Koje druge mogućnosti boravka odnosno državljanstva putem ulaganja Evropa može da ponudi investitorima izuzetno visoke neto vrijednosi koji žele da diversifikuju svoj portfelj domicila i nekretnina?

Evropski programi za sticanje prava boravka i državljanstva putem ulaganja široko su poznati kao programi "zlatnih viza", a njihova privlačnost leži u tome što su već sasvim etablirani i funkcionišu bez smetnji, velika većina njih nudi bezvizni pristup evropskom šengenskom prostoru i svi nude visok standard života i zdravstvene zaštite — a izbor je iznenađujuće velik. Osam od deset najboljih zemalja prema Indeksu globalnih programa boravka objavljenom u Programima investicionih migracija 2021 nalaze se u Evropi, a prvo mjesto dijele Austrija i Portugal. Austrija je izvrsna opcija za ekonomski solventne pojedince i svojim rezidentima nudi kvalitet života među najvišim u Evropim, kao i jednako visok nivo bezbjednosti. Učestvovanje u portugalskom programu „Zlatne dozvole boravka“ omogućava vam da podnesete zahtjev za državljanstvo nakon pet godina legalnog boravka, istovremeno zadržavajući drugo državljanstvo (ili državljanstva). Zahtjev za neophodni boravak je nizak

Another byproduct of the lockdown was the realization that should a similar situation arise in future, we should all be better prepared. We believe that this is partly what has prompted the enormous interest in investment migration products, as having access to more than one country and multiple jurisdictions has become more appealing than ever in the current context.

At or increased foreign direct investment. One of the unique and most positive attributes is its Henley & Partners industry’s ability to endow nations with a considerable source sustainable revenue without them having to inwe refer to this as ofcrease debt and thereby burden future generations. ‘sovereign equity’. At Henley & Partners we refer to this as ‘sovereign . The capacity of a country to increase its The capacity of a equity’ sovereign equity by including more citizens who contribute to its future wellbeing also has country to increase actively the invaluable ability to reduce a key aspect of inits sovereign equity equality within states, as well as between them — a that is uniquely facilitated by investby including phenomenon ment migration.

All of this was true before the devastation of Covmore citizens who id-19 became apparent. The pandemic has changed actively contribute our way of life and it is fundamentally damagthe global economy: sovereign equity could to its future ing be a partial solution to the economic challenges will face government decision-makers in the wellbeing also has that years ahead. All sovereign states need capital, idethe invaluable ally from a debt-free source of liquidity. Even with debt, there is insufficient liquidity. Countries ability to reduce cheap are constantly competing for vital foreign direct and talent to diversify their economies a key aspect of investment and introduce new opportunities to their societies. inequality within What sovereign states require is a competitive edge sovereign equity can provide. Invesstates, as well as —torsthisgainis awhat long-term yield in the form of enhanced mobility. Alternative residence or citizenship between them — global is a unique investment that permits them to be as a phenomenon globally diversified as their wealth portfolios. In the to come we expect to see more programs that is uniquely months being launched, and more options being added to programs as countries aim to attract capital facilitated by existing and talent to aid economic recovery. investment further information please visit migration. For henleyglobal.com far beyond extra funding for the national treasury

— trideset pet dana tokom perioda od pet godina u zemlji koja se smatra jednom od najglobalizovanijih i najmirnijih na svijetu.

Italija i Švajcarska su na drugom mjestu prema Indeksu globalnih programa boravka. Italija je postala privlačna opcija za penzionere nakon uvođenja poreskog režima za penzionere koji obezbjeđuje značajne beneficije novim poreskim rezidentima koji primaju prihod iz inostranstva. Švajcarska nudi političku i ekonomsku stabilnost i svrstava se među vodeće zemlje svijeta za život, što je čini idealnim izborom za bogate pojedince i porodice koje su finansijski nezavisne, sa dovoljno bogatstva da pokriju svoje životne troškove. Još jedna zanimljiva alternativa koja se može uzeti u obzir je Malta — najbolje čuvana tajna Mediterana koja je postala jedna od vodećih evropskih lokacija za investicije, zahvaljujući reputaciji stabilnosti, predvidljivosti i sigurnosti. Spektakularne prirodne ljepote ove ostrvske zemlje i opušteni način života čine je izuzetno poželjnom lokacijom, a nedavno je pokrenula Program stalnog boravka na Malti nakon što je krajem prošle godine najavila novu Regulativu o sticanju državljanstva za izuzetne usluge putem direktnih investicija (S.L. 188.06). Ovo je samo nekoliko primjera onoga što je dostupno u Evropi.

Kakav je vaš pogled na sektor investicionih migracija za preostali dio 2021. godine i kasnije?

Kratak odgovor na to pitanje je da je moj pogled izuzetno pozitivan. Jedna od temeljnih premisa migracije investicija je jačanje ekonomije zemlje u zamjenu za pravo boravka ili državljanstva za pojedinačne investitore — klasična formula u kojoj svako dobija. Ali korisni efekti programa za sticanje prava boravka i državljanstva putem investicija za države domaćine daleko nadilaze dodatna sredstva za nacionalni trezor ili veće strane direktne investicije. Jedno od jedinstvenih i najpozitivnijih svojstava ove branše je sposobnost da zemlje obdari značajnim izvorom održivog prihoda, a da ne moraju da povećavaju zaduženost i time opterećuju buduće generacije. Mi u Henley & Partners to nazivamo „državnim, odnosno suverenim kapitalom“. Sposobnost zemlje da poveća kapital svoje države uključivanjem više građana koji aktivno doprinose njenom budućem blagostanju takođe nosi neprocjenjivu mogućnost da smanji ključni aspekt nejednakosti unutar država, kao i među njima - fenomen koji migracije investicija omogućavaju na jedinstven način.

Sve je ovo bilo tačno prije nego što je devastacija usljed kovida-19 postala očita. Pandemija je promijenila naš način života i nanosi fundamentalnu štetu globalnoj ekonomiji: državni, odnosno suvereni kapital mogao bi da bude djelimično rješenje za ekonomske izazove sa kojima će se suočiti donosioci odluka u državnim organima u godinama koje dolaze. Svim suverenim državama je potreban kapital, u idealnim uslovima iz izvora likvidnosti koji ne podrazumijevaju zaduživanje. Čak i sa jeftinim zaduživanjem, nema dovoljno likvidnosti. Zemlje se neprestano takmiče za presudno bitne strane direktne investicije i nadarene ljude kako bi diversifikovale svoju ekonomiju i uvele nove mogućnosti u svoje društvo. Suverenim državama potrebna je konkurentska prednost — to je ono što državni, odnosno suvereni kapital može da pruži. Investitori ostvaruju dugoročni prinos u obliku povećane globalne mobilnosti. Alternativno pravo boravka ili državljanstva predstavlja jedinstvenu investiciju koja im omogućava da budu globalno diversifikovani koliko i njihovi portfelji bogatstva. U mjesecima koji dolaze očekujemo da će se pokretati više programa i dodavati više opcija postojećim programima, jer države imaju za cilj da privuku kapital i talentovane ljude kako bi potpomogle ekonomski oporavak.

14

23

34

26

52

CONTENTS 5

28

Sovereign Equity Providing a Competitive Edge

Investment Migration Case Study

Exclusive interview with Dr. Juerg Steffen, CEO of Henley & Partners

14 A Regional Office of Global Importance

Delivering excellence for you and your family’s future

21 An Established Feature in The Regional Investment Landscape

By Rade Ljumović, Managing Partner, Henley & Partners Montenegro

22 Selected Investmen Migration Programs Henley & Partners Education

A Successful Case Study from Montenegro

36 Introducing the Montenegro Citizenship

by Investment Program A look back to the previous investment opportunities

46 U.S. Tech Innovators

Choose the Montenegro Citizenship by Investment Program for domicile diversification

52 Introduction of The Montenegro citizenship by Investment program

Includes additional previous investment opportunities.

THE COLLECTION MAGAZINE Volume 35| Summer-Autumn 2023 Edition

Henley & Partners

A REGIONAL OFFICE OF GLOBAL IMPORTANCE Delivering excellence for you and your family’s future

Henley & Partners Montenegro Team

ABOUT HENLEY & PARTNERS

Henley & Partners is the global leader in residence and citizenship by investment. Each year, hundreds of wealthy individuals and their advisors rely on our expertise and experience in this area. The firm’s highly qualified professionals work together as one team in over 35 offices worldwide. The concept of residence and citizenship by investment was created by Henley & Partners in the 1990s. As globalization has expanded, residence and citizenship have become topics of significant interest among the increasing number of internationally mobile entrepreneurs and investors whom we proudly serve every day.

H

enley & Partners established its office in Montenegro in 2018, with the aim of providing dedicated support to processing offices in Montreal, Cape Town, Dubai, Hong Kong (SAR China), London, Singapore, and Zurich, and to applicants interested in investing in Montenegro. The Montenegro office has grown to 10 employees, who have throughout the implementation of the Montenegrin Citizenship

by Investment program, consistently and committedly worked on preparing and submitting applications to Montenegrin authorities alongside the support of Henley & Partners processing offices. Henley & Partners Montenegro is an official member of the Montenegrin Foreign Investors Council (MFIC) and AmCham Montenegro.

MONTENEGRIN CITIZENSHIP

BY INVESTMENT PROGRAM

The Montenegro Citizenship by Investment Program was the most popular citizenship program among the Henley & Partners clientele in 2022. The potential contribution of the total 1,112 applications submitted over the three years of the program’s active implementation to the Montenegrin economy is approximately EUR 500 million. Approximately half of these applications were submitted by Henley & Partners.

Thanks to the program, intense construction of hotels and development of various projects is underway, particularly in the north of the country.

Such projects would not have been realized without the program, and certainly not at the speed and dynamic now being witnessed.

A key marker of the program’s success is the caliber of its applicants: renowned names in the IT and tech sectors, finance, beauty and fashion industry, and medical professionals practicing at prestigious international clinics either are or will soon become Montenegrin citizens.

One of the program’s greatest strengths lies in its comprehensive due diligence. Before applications are submitted, potential applicants are subject to preliminary checks — first by intermediary agents such as Henley & Partners and then by local and international banks that are facilitating the investment procedure.

After submission, as part of the government’s internal process, worldrenowned companies, specialized in this field, conduct the official procedure for checking the eligibility of candidates. Unique processes and rigorous evaluations such as these had never been implemented in Montenegro before at any level, and truly serve as a testament to the program’s strength and exclusivity.

The firm’s highly qualified professionals work together as one team in over 35 offices worldwide.

Many wealthy individuals and families make Greece their second home.

2023 AND BEYOND

Mr. Bradley Horowitz, VP Product at Google

The program’s significant impact on Montenegro, both in terms of the country’s economy and the development it brought in several areas, has allowed the Henley & Partners to establish itself as an important feature in the Montenegrin and regional business landscape. In terms of Henley & Partners presence in the region, over and above its primary purpose, the firm’s Montenegro office also serves as a hub focused on promoting residence and citizenship investment programs across the globe, as well as investment migration-linked real estate, education, and concierge services to the many high-net-worth investors who visit the region.

One such investor has already visited Montenegro and shared his impressions on the country, its investment climate and the program: ’During my visit to Montenegro this summer, I had the opportunity to

personally see not only the natural beauty of your country but also the investment potential. I had the opportunity to meet with top Government officials, as well as decision-makers not only from the public sector but also from the investment and ICT industries. In direct and frank conversations with all of them, I saw that Montenegro presents exceptional investment opportunities. I am also familiar with Montenegro's Economic Citizenship Program, which is certainly in line with all of the above. The economic citizenship program not only contributes to the country's economy and financial stability, but it also makes Montenegro position itself on the global map making it visible to the world elite’.

LIFESTYLE REAL ESTATE

Over the past 15 years, local real estate practitioners have enjoyed watching Montenegro emerge as a key second home and property-investor market in the Mediterranean. The Montenegrin real estate market is still an emerging market with a great deal of potential for capital growth, and has a number of favorable benefits. Montenegro has low real estate tax rates, and it boasted a successful citizenship by investment program centered around new hotel developments, which were all helpful in the development and advancement of the real estate market in the country.

There are no legal restrictions on foreigners buying property in Montenegro. Acquisition of property is executed before a notary, following an established model that entails a low level of required paperwork. The whole procedure may be done remotely via a Power of Attorney and can be finalized within days of choosing the property.

The Henley & Partners Montenegro office has built upon existing relationships with a variety of real estate developers to provide interested clients with a highly selective and carefully curated selection of properties in Montenegro. The options range from modern villas and quaint stone houses in Boka Bay, to chalets or penthouses in recently constructed luxury hotel resorts at the ski slopes in the northern mountainous region.

Ownership of a property in Montenegro also makes a client eligible for residence in Montenegro, which enables successful applicants to live,

An Austrian passport is one of the best ranked travel documents in the world.

work and study in a safe and stable country that is moving towards a free-market economy. In addition to being a popular luxury tourism destination, Montenegro also has dynamic investment potential and it is growing to become an economic hub for modern, world-renowned resorts and businesses.

Henley & Partners Education offers expert, impartial advice and support to parents globally who are looking to secure the best education for their children.

HENLEY & PARTNERS EDUCATION SERVICES

One of the many benefits of investment migration is enhanced access to premium global education. In unpredictable times, most of our clients are looking to secure world-class education for their children in top schools and universities that provide a stable, safe and nurturing environment. Many countries that host residence and citizenship by investment programs, such as the UK, the USA, Canada, Australia, New Zealand, and numerous European countries, are home to the world’s best educational institutions. With so many options, we can help you make one of life’s most important and difficult decisions: choosing the right education for your child.

Henley & Partners Education offers expert, impartial advice and support to parents globally who are looking to secure the best education for their children. Our consultants have been heads, principals, directors of admissions, and educators in international schools and universities across the world and, as a result, have extensive and current global networks and insights. We always put your child’s educational and personal needs and interests at the heart of our school placement services, and our deep-rooted knowledge of global education combined with our independent, expert assessment of your child’s unique requirements, will ensure they are placed in the right school or university suited to them.

Within the scope of the Henley & Partners offer, our firm can assist you in a variety of ways. Primarily, our unique assessment, the Henley Academic Profiling Assessment (HAPA) has been created to provide a comprehensive aptitude evaluation of academic skills for children aged

between six and sixteen. It is the result of collaboration between experts in assessment, former heads of schools, and educationalists, using the highest quality teacherwritten test questions and adaptive technology. It can offer invaluable insight when determining next steps, whether that is choosing a new school or university, or simply identifying where your child stands in relation to their peers and how best to support them. Once the HAPA is completed as an initial step to understanding the child’s needs and interests, a wide variety of international schools in universities are considered to define the best fit for each child, whether this is in the UK, US, Canada, Europe, or Singapore.

To obtain Austrian citizenship, foreign investor must make an extraordinary contribution to the country.

INVESTMENT MIGRATION PROGRAMS FORMING THE HENLEY & PARTNERS OFFER

Following the conclusion of the program in Montenegro, two of our colleagues, Ms. Daria Sholmova and Mr. Filip Radojevic, have stepped into new roles as Client Advisors. Their role is to navigate the Henley & Partners offer of residence and citizenship by investment programs and advise clients on the best option for them, considering their circumstances and aspirations. Countries that offer investment migration programs include Austria, Greece, Grenada, Malta, Monaco, Netherlands, Singapore, Switzerland, Thailand, the UK and the US. For further information on any element of business listed here, kindly contact us via email on montenegro@henleyglobal.com

The Montenegro Citizenship by Investment Program was the most popular citizenship program among the Henley & Partners clientele in 2022.

The potential contribution of the total 1,112 applications submitted over the three years of the program’s active implementation to the Montenegrin economy is approximately EUR 500 million.

Italy offers investors access to a rich culture and attractive industries

Henley & Partners established its office in Montenegro in 2018, with the aim of providing dedicated support to processing offices in Montreal, Cape Town, Dubai, Hong Kong (SAR China), London, Singapore, and Zurich, and to applicants interested in investing in Montenegro.

To obtain the visa under the Investor Visa Program in Italy, investors must purchase or rent residential real estate.

THE COLLECTION MAGAZINE volume 34|Spring-Summer 2023 Edition

Henley & Partners AN ESTABLISHED FEATURE IN THE REGIONAL INVESTMENT LANDSCAPE

BY RADE LJUMOVIĆ, Managing Partner, Henley & Partners Montenegro

HENLEY & PARTNERS – THE PIONEERING INVESTMENT MIGRATION FIRM

H

enley & Partners is the global leader in residence and citizenship by investment.

Each year, hundreds of wealthy individuals and their advisors rely on our expertise and experience in this area. The firm’s highly qualified professionals work together as one team in over 35 offices worldwide. The concept of residence and citizenship by investment was created by Henley & Partners in the 1990s. As globalization has expanded, residence and citizenship have become topics of significant interest among the increasing number of internationally mobile entrepreneurs and investors whom we proudly serve every day.

Henley & Partners established a Montenegro office in 2018 with the aim of providing dedicated support to processing offices in Montreal, Cape Town, Dubai, Hong Kong (SAR China), London, Singapore, and Zurich, and to applicants interested in investing in Montenegro.

Henley & Partners Montenegro is an official member of the Montenegrin Foreign Investors Council (MFIC) and AmCham Montenegro.

THE MONTENEGRO CITIZENSHIP BY INVESTMENT PROGRAM – TOP CITIZENSHIP PROGRAM IN 2022

The Montenegro Citizenship by Investment Program was the most popular citizenship program among Henley & Partners’ clientele in 2022. The potential contribution of the total of 1,112 applications submitted over the three years of the program’s active implementation to the Montenegrin economy is approximately EUR 500 million. About half of these applications were submitted by Henley & Partners. Thanks to the program, intense construction of hotels is underway, particularly in the north of the country. Such projects would not have been realized without the program, and certainly not at the current speed and dynamic.

A key marker of the program’s success is the caliber of its applicants: renowned names in the IT and tech sectors, finance, beauty and fashion industry, and medical professionals practicing at prestigious international clinics either are or will soon become Montenegrin citizens.

One of the program’s greatest strengths lies in its comprehensive due

diligence. Before applications are submitted, potential applicants are subject to preliminary checks — first by intermediary agents such as Henley & Partners and then by local and international banks. After submission, as part of the government’s internal process, world-renowned companies, specialized in this field, conduct the official procedure for checking the eligibility of candidates. Unique processes and rigorous evaluations such as these had never been implemented in Montenegro before.

2023 AND BEYOND – WHAT LIES AHEAD?

Aware of the program’s significant impact to date, the Government of Montenegro is conducting detailed analyses and holding advanced discussions on a new investment migration program, which might operate on a different model. In terms of Henley & Partners presence in the country, over and above its primary, the firm’s Montenegro office also serves as a regional hub focused on promoting residence and citizenship investment programs across the globe, as well as investment migrationlinked real estate, education, and concierge services to the many highnet-worth investors who visit the region.

SELECTED INVESTMENT MIGRATION PROGRAMS

Greece Golden Visa Program As a member state of the EU, Greece offers its residents and citizens a number of reassuring benefits including high levels of safety and security, excellent education opportunities, robust healthcare options, and a dependable rule of law. Greece’s warm Mediterranean climate, desirable lifestyle, and cosmopolitan cities, coupled with the country’s strong industries, have led many wealthy individuals and families to make this country their second home.

Population: 10.7 million Language:

Greek

Economy:

Service- and industrial-based

Currency:

Euro

Key benefits Residence permits acquired within 30–60 days Residence permit renewable every five years, provided that the holder maintains a property in Greece Opportunity to rent out the investment property Residence applicable to the whole family (spouse, children under 21 years old, and parents of the main applicant and spouse)

Program overview •

Real estate investment of EUR 250,000

•

Processing time of one–two months from submission of the application to approval

•

The right of free movement to Greece and Europe’s Schengen Area

Access to the public healthcare and education systems in Greece Eligibility to apply for citizenship after seven years of legal residence Ability to hold shares and receive income from the dividends of a company registered in Greece (but not to be employed in Greece)

Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment Malta’s Granting of Citizenship for Exceptional Services

by Direct Investment Regulations (S.L. 188.06) (the Regulations) allow for the granting of citizenship by a certificate of naturalization to foreign individuals and their families who contribute to the country’s economic development. This is possible following a 36-month (or, by exception, 12-month) residence period. Each application is subject to a stringent due diligence process, including thorough background checks. Community Malta Agency is the competent Maltese Government Agency responsible for administering the Regulations.

Henley & Partners (license number AKM-HENL) is an official agent for this regulated citizenship process.

Population: 464,000 Maltese, English

Economy:

Advanced and innovation-driven

Currency:

Euro

Visa-free or visa-on-arrival travel to 186 destinations Once the residence requirement has been fulfilled and the citizenship eligibility application has been approved, successful applicants may apply for Maltese citizenship

Overview

•

•

An investment of EUR 738,000 for a minimum residence period of 36 months or EUR 888,000 for a minimum of 12 months (including property lease) Applicants and all adult dependents must hold Maltese residence status for a minimum of 36 months (or 12 months, by exception) before they may apply for citizenship Under the direct investment regulations, the number of certificates granted (excluding those of dependents) shall not exceed 400 yearly and 1,500 in total

A transparent and reputable financial center and a jurisdiction for international business Opportunity to include parents, a spouse, and children in the main application

Situated in Southwestern Europe, Spain is regarded as one of the world’s most popular holiday destinations.

The country attracts millions of visitors every year with its amazing nature, beautiful beaches, diverse culture, and rich history. Spain is a full member of the EU, the Eurozone, and Europe’s Schengen Area, which means that Spanish residents benefit from unrestricted travel across Europe, as well as the country’s high quality of life. Individuals living in Spain also have one of the longest life expectancies in the world.

Population: 50 million Language:

Spanish

Economy:

Capitalist, with a balanced mix of manufacturing, services, and agri-food industries.

Currency:

Euro

Program overview •

World’s strictest due diligence standards and vetting of applicants An attractive place to live or own a second home in, strategically located, with excellent air links

Citizenship by Investment Program

Key benefits High quality of life Ability to include a spouse or unmarried partner, financially dependent children of any age (adult children must be full-time students), and financially dependent parents of the main applicant and/or their spouse who are 65 years and older Access to the public healthcare and education systems in the country

The St. Kitts and Nevis Citizenship by Investment Program was originally established in 1984. Following Henley & Partners’ government-mandated restructuring and global repositioning and promotion of the program in 2006, it has since become one of the most successful and reputable of its kind in the world. St. Kitts and Nevis offers excellent opportunities for investors, including a range of real estate options and a uniquely and highly favorable taxation system. The workforce is well-educated, English-speaking, and friendly.

Minimum investment of EUR 500,000

•

Processing time of approximately 20 days for the immigration procedure

•

The right to live, work, and study in Spain, and free movement to the EU and Europe’s Schengen Area

The possibility to apply for Spanish citizenship after two years of effective residence for Sephardic Jews and their descendants, and for citizens of Ibero-American countries, Andorra, Equatorial Guinea, Portugal, and the Philippines Excellent schools, with tuition available in English, French, German, Italian, Japanese, and Mandarin

Key benefits Visa-free or visa-on-arrival travel to 156 destinations Citizenship by descent available for future generations

Population: 53,000 Language:

English

Economy:

Driven by tourism, real estate, and financial market sectors

Currency:

Eastern Caribbean dollar

Ability to include a spouse, children under 31, parents, grandparents aged 55 and over, and unmarried dependent siblings under 31 with no children, as well as to add dependents after citizenship has been granted to the main applicant Membership to the Commonwealth, entitling citizens to certain privileges in the UK and other Commonwealth countries

A vibrant EU country that has majestic landscapes

Thailand

Program overview •

Minimum contribution of USD 150,000

•

Processing time of three–six months

•

The right of free movement to St. Kitts and Nevis, Hong Kong, Russia, Singapore, the UK, and Europe’s Schengen Area, among others

An attractive location for owning a second home in the Caribbean, with good air links to Europe and North America Dual citizenship allowed No minimum stay required

United Kingdom

Elite Residence Program

Innovator Program

Thailand is one of the most sought-after destinations in Southeast Asia, offering an affordable and convenient standard of living. Often called the ‘Land of Smiles’, Thailand has a population of 68 million people known for their friendly disposition. Its capital city Bangkok offers an exciting urban lifestyle on a global metropolitan scale. Thailand has been widely cited as a development success story, moving from a low-income to an upperincome country in less than one generation.

Population: 68 million Languages:

Thai, English

Economy:

Rich in agriculture, with pioneering industrial productions in automotives, electronics, healthcare, and jewelry

Currency:

St. Kitts and Nevis

Residence by Investment Program

Why Malta?

Languages:

•

Spain

Key benefits A range of residence options available, from the five-year Elite Easy Access (THB 600,000 or approximately USD 19,000) to the 20-year Elite Ultimate Privilege (THB 2.14 million or approximately USD 68,000)

United States EB-5 Immigrant Investor Program

The UK is an attractive destination for business and private residence. Its capital London has the highest GDP of any city in Europe and houses corporate headquarters of numerous multinational corporations, financial institutions, professional firms, and major organizations. The Tier 1 Innovator Visa is aimed at those who can demonstrate relevant experience in business and requires individuals to set up or run an existing business in the UK.

The USA is the third-largest country on the globe and has been the leading economic and military power for the last century. It is one of the most soughtafter destinations in the world for business and private residence. Dominating the global economy, it accounts for nearly a quarter of the world’s GDP. The USA offers a wide range of choices when it comes to lifestyle, education, culture, geography, and climate.

Thai baht

Program overview •

Minimum application fee (approximately USD 19,000)

of

THB

600,000

•

Processing time of two–three months

•

Long-term, privilege multiple-entry permit as well as luxury, VIP treatment

Language:

English

Economy:

Leading trading and financial center, third largest in Europe

Currency:

British pound

Attractive tax regime Possibility of acquiring a tax identification number and a tax residence certificate (if staying in Thailand for more than 180 days per year) Complimentary VIP services including a dedicated Thailand Elite personal assistant for fast-track immigration and baggage claim, lounge access, assistance with opening a local bank account, and obtaining a Thai driving license, as well as a 24hour multilingual member contact center Low-cost yet high standard of living

One of the most desirable business and lifestyle destinations worldwide

Population: 65 million Population: 337 million

No minimum stay requirement

Key benefits

Key benefits Residence permits acquired within three weeks Permanent residence possible after three years

Languages:

English, Spanish, Chinese

Economy:

Free-market, private enterprise

Currency:

US dollar

Range of top-tier schools and Ivy League universities available nationwide Efficient route to gaining permanent resident status (a green card) Ability to include a spouse and children who are under 21 years old and not married

International business environment

Program overview •

At least GBP 50,000 in investment funds

•

Processing time of one–eight weeks from submission of the application to approval

•

The right to live, work, and study anywhere in the United Kingdom

Program overview Attractive tax regime for individuals who are resident but not domiciled Direct international flight connections to most major global cities World-renowned schools and universities

Minimal application requirements, with no business experience or specific language proficiency needed

•

Minimum investment of USD 800,000

•

Processing time of 30 to 36 months for the initial residence period and green card (times may vary)

Flexible physical presence requirements

•

The right to live, work, and study in any of the 50 states of the USA

Citizenship possible after five years of legal residence

montenegro@henleyglobal.com +382 20 674 074 henleyglobal.com

Henley & Partners Education One of the many benefits of investment migration is enhanced access to premium global education. In unpredictable times, most of our clients are looking to secure world-class education for their children in top schools and universities that provide a stable, safe and nurturing environment. Many countries that host residence and citizenship by investment programs, such as the UK, the USA, Canada, Australia, New Zealand, and numerous European countries, are home to the world’s best educational institutions. With so many options, we can help you make one of life’s most important and difficult decisions: choosing the right education for your child.

Key benefits of top-tier education

An all-encompassing service 1. Global school and university placement 2. The Henley Academic Profiling Assessment 3. Concierge services

Our unique offering •

Henley & Partners Education has extensive sectorspecific international experience. We have access to comprehensive global networks and the most up-todate information, and all our consultants have held leading roles in world-class primary, secondary, and tertiary education institutions

•

Our comprehensive knowledge of global education combined with our unique, professional, objective assessment of your child’s individual requirements will result in their successful placement in the most suitable school or university

•

Throughout the process, from searching for the best options, to preparing your child for interviews, to helping you and your family settle in should you decide to relocate, we offer bespoke additional support services, tailored to meet your family’s specific needs

A gateway to the world’s best universities Exposure to invaluable international experience, skills, and knowledge Excellent prospects globally International networking and career opportunities

montenegro@henleyglobal.com +382 20 674 074

Montenegro Residence Situated on the Balkan Peninsula in Southeastern Europe, Montenegro is not only known for being a popular luxury destination, but it also has dynamic investment potential. This safe and stable country has become an economic hub for modern resorts and is working towards having a free-market economy. Successful applicants gain access to the European market as well as European residence. Furthermore, Montenegro is an official candidate country for EU membership.

Key benefits Highly efficient procedure for residence application and opening a bank account Minimal application requirements, with only one visit to Montenegro required during the application process Eligibility to apply for permanent residence after five years

Population: 602,500 Language:

Montenegrin

Economy:

Tourism-based

Currency:

Euro

Overview •

•

Processing time of approximately one month from submission of the application to approval The right to live, work, and study in Montenegro

Low business operation costs compared to other European jurisdictions Duty-free trade and customs agreements with EU member states, Switzerland, Türkiye, and other countries Residence in a member state of the European Monetary Union, the NATO Alliance, OSCE, and the WTO Residence in a country that is multinational and multilingual, and enjoys a mild Mediterranean climate, beautiful scenery, and a low cost of living

montenegro@henleyglobal.com +382 20 674 074

Lifestyle Real Estate Over the past 15 years, local real estate practitioners have enjoyed watching Montenegro emerge as a key second home and property-investor market in the Mediterranean. The Montenegrin and regional real estate market is still an emerging market with a great deal of potential for capital growth, and it has a number of favourable benefits. Montenegro has low real estate tax rates, and a successful citizenship by investment program centred around new hotel developments, which are all helpful in the development and advancement of the real estate market in the country and region.

montenegro@henleyglobal.com +382 20 674 074

Henley & Partners is the global leader in residence and citizenship by investment. Each year, hundreds of wealthy individuals and their advisors rely on our expertise and experience in this area. The firm’s highly qualified professionals work together as one team in over 35 offices worldwide. The firm also runs a leading government advisory practice that has raised more than USD 10 billion in foreign direct investment. For more information on acquiring alternative citizenship, e-mail yourfuture@henleyglobal.com or visit henleyglobal.com

Antigua · Australia · Austria · Bangladesh · Canada · China · Cyprus · Dubai · Grenada · Hong Kong · India · Indonesia · Latvia · Malaysia · Malta · Montenegro · Nigeria

THE COLLECTION MAGAZINE Volume 33| Autumn-Winter 2022/2023

Secure your family’s future with alternative citizenship

Define your Future Pakistan · Philippines · Portugal · Singapore · South Africa · South Korea · Sri Lanka · St. Kitts · St. Lucia · Switzerland · Thailand · Turkey · United Kingdom · Vietnam

HENLEY & PARTNERS special edition

Boka Bay Montenegro — the five-star fjord

THE COLLECTION MAGAZINE volume 32| Summer-Autumn 2022

INVESTMENT MIGRATION – A SUCCESSFUL CASE STUDY FROM MONTENEGRO

Investment migration has enabled sovereign states, such as Montenegro, to tap into a new source of sustainable revenue. In the business environment following the pandemic, as in the wake of previous disruptions such as the 2008 financial crisis, residence and citizenship programs create significant value - both for investors and for sovereign states in need of alternative revenue streams. Montenegro has successfully operated a Citizenship by Investment program since 2019 and, if logic prevails, will continue until a total of 2,000 applications have been successfully accepted.

I

cant amount and shows the potential of the program. If the full, initially planned potential of the program is realized, with 2,000 originally set applications, a realistic estimate is that the program can generate more than EUR 1 billion of investments and revenues in a relatively short period of duration of this program.

According to the current projections of the listed projects, and new recently proposed projects, 1,200 hotel rooms are planned in new hotels in the north of Montenegro and 800 hotel rooms in the south. According to the reports of the globally recognised, renowned consulting company Horwath HTL, one room in a 4*+ and 5* level hotel contributes over EUR 50 thousand per year to the country's GDP, and employs 1.3 workers on average. According to this, already in the next couple of years, these 2,000 accommodation units in hotels will contribute to the employment of 2,600 hotel workers, and contribute more than EUR 100 million per year to the country's GDP.

n this article for The Collection Magazine, we explain the success of the Montenegro program and the enormous benefits it has brought to this small Balkan nation.

The current program allows applicants to invest in approved real estate projects in the north of the country and on the coast. In total, to date, cca 1,000 applications were submitted in the scope of the program. The table FINANCIAL POTENTIAL OF SUBMITTED APPLICATIONS AND PROGRAM'S FULL POTENTIAL shows the concrete economic benefits in Eur Potential of submitted Full potential of the Program that the Montenegrin economy would applications (2,000 applications) achieve if the program is continued until (1,000 applications) 2,000 successful applications have been Development project 241,200,000 536,000,000 received. Since the beginning of 2022, a fee of EUR 200,000 is paid to the Moninvestments tenegrin Government by the applicants.

VAT 50,400,000 112,000,000 The average investment per applicant is Donation to Innovation Fund 26,640,000 130,000,000 EUR 350,000. The administrative fee for processing one application is on average Donation to Under-developed 90,000,000 200,000,000 EUR 35,000. These are the parameters Areas Fund on which the calculation of the potential Administrative processing fee 35,000,000 77,000,000 success of the program is based on.

TOTAL EFFECT 443,240,000 1,055,000,000 The total effect of the applications submitted so far amounts to EUR 440 INVESTMENTS 241,200,000 536,000,000 million, which is an extremely signifiGOVERNMENT REVENUE 202,040,000 519,000,000

Porto Montenegro, Tivat

Mount Lovćen — the heart of Montenegro

2,000 accommodation units in hotels will contribute more than EUR 100 million per year to the country's GDP.

WHO THE APPLICANTS ARE AND HOW THEY ARE CHECKED

unique processes and analyses, never before implemented in Montenegro, are carried out to such a high level by a number of companies and institutions specialised in this field, specifically with the aim of credibilIndividual applicants successful to date are business owners and entre- ity, so that the applicants under the Montenegrin CBI Program are, in preneurs, followed by financial experts, IT experts and specialists, such fact, the most verified people in Montenegro. as doctors. There are renowned names from the IT world, the beauty and While significant focus must be placed on the investor side of the fashion industry. Applicants have chosen Montenegro as a destination industry, consideration must also be given to the sovereign side of the for alternative citizenship, after analyses that in some cases took several equation. Investment migration programs bring billions of euros worth years. The basic criteria for applying is always the same and extremely of much-needed capital to sovereign states that would otherwise have strict. First of all, it is necessary to obtain, and legalize in the prescribed to be raised through taxation or increased sovereign debt and budget manner, a whole set of documents, including police certificates, exhaus- deficits. There are multiple objective sources that demonstrate not only tive financial statements, and evidence of investments in Montenegro. the value of the liquidity injection itself, but the wider benefits in terms After the licensed agent submits an application, the main part of the of driving foreign direct investment (FDI) process begins. As part of the Government's into EU nations like Malta, Greece, Latvia, internal procedure, an official procedure for Spain, or Portugal. These programs create checking the international eligibility of the If the full, initially planned potential genuine societal advantage not just through candidate (comprehensive due diligence) is of the program is realized, with 2,000 increased Government revenue, employcarried out. On behalf of the Government, originally set applications, a realistic ment creation and enhanced infrastructure this is done by world-renowned companies, spending, but through the generation of specialized in this field: Exiger from Canada estimate is that the program can new opportunities across all levels of sociand S-RM from Great Britain, licensed in generate more than EUR 1 billion ety.

Montenegro for the Program. This in-depth To put citizenship by investment into perof investments and revenues in a analysis lasts at least one month, and if the spective, approximately 900,000 naturalizarelatively short period of duration findings are negative, the application is autions occur in total in the EU every single tomatically rejected, without the right of of this program. year, which amounts to roughly 9 million complaint. If the finding is satisfactory, only over a 10-year period. The 6,000 that have then the application qualifies to be reviewed come in through citizenship by investment by the competent state authorities, headed by the Ministry of Internal over the past decade is less than 0.1% of that total. While minimal to no Affairs of Montenegro. due diligence is done on those naturalized through other channels, exAfter the due diligence is completed, and only in case the findings tensive due diligence is done on 100% of those naturalized through EU do not constitute a rejection of the application, final checks are carried citizenship by investment programs. out by the Ministry of Internal Affairs, in cooperation with the National Investment migration programs of EU member states have brought Security Agency. In addition, the state naturally reserves the discretion- around EUR 25 billion in foreign direct investment into the EU over ary right to revoke the passport of the applicant, in case it is proven the past decade. More importantly, as this industry will ensure ongothat he/she submitted an incorrect document during the process, or did ing value creation for societies within most EU member states, this will not behave in accordance with the law after obtaining citizenship. These greatly benefit the Union in the long term. Other industries that deal in

multi-billion-euro liquidity streams and are involved in issues of sovereignty are well-regulated by competent authorities to prudently manage risk and grasp opportunity.

Investment migration is now widely recognised as a longstanding form of both sovereign investment demand generation and a catalyst for economic growth and diversification. It accounts for billions of euros in global capital. There are now over 100 investment migration programs worldwide, and it is a legitimate migration pathway accepted by the United States, Australia, Austria, Spain, Italy, Portugal, and many other sovereign states.

Investment migration has become a standard and recognized policy lever to incentivize foreign direct investment, and the EU member states like Austria, Malta, Spain, Greece, Italy, Portugal and many others that offer these programs, have created a vital advantage for themselves and their citizens in the global competition for capital and skills.

Montenegro can be extremely proud of its citizenship by investment program. It has very quickly established itself as a remarkably successful and world-leading sovereign financing and economic innovation platform, capable of raising millions of euros in debt free capital for its citizens each year and attracting some of the finest global talent and investors with valuable international networks and skills that will enrich the country.

Montenegro can be extremely proud of its program.

It has established itself as a remarkably successful and world-leading sovereign financing and economic innovation platform, capable of raising millions of euros in debt free capital for its citizens each year and attracting some of the finest global talent and investors with valuable international networks and skills that will enrich the country.

WHAT THEY SAID ABOUT THE PROGRAM OF ECONOMIC CITIZENSHIP IN MONTENEGRO BRADLEY HOROWITZ, VP PRODUCT, GOOGLE Having visited your country this summer, I had the opportunity to see in person not only the natural beauty of Montenegro, but also its investment potential. During my stay I had the pleasure of meeting the highest Government officials, and also prominent stakeholders not only from the public sector, but from the private investment area and ICT industry as well.

In direct and open conversation with all of them I realized that Montenegro presents remarkable investment opportunities. I am also aware of the Montenegrin CIP and it goes in line with the above said. This program contributes not only to the country’s economy and financial stability, it also goes hand in hand with placing Montenegro on global map and making it visible to the world’s HNWI. TOMISLAV ČELEBIĆ, PRESIDENT, ČELEBIĆ COMPANY (REAL ESTATE DEVELOPMENT COMPANY) The development projects that are being implemented in Montenegro today will place our country among the exclusive and most desirable destinations in this part of the Mediterranean. The economic citizenship program in Montenegro differs significantly from others in Europe and beyond. Investments are limited to development projects that are sustainable in the long term. Investor control is very strict, which minimizes the potential risk of illegal activities. With these and similar investments, we can improve the standard of citizens, infrastructure, education, healthcare and finally the rule of

Skadar Lake – just one example of the postcard perfect beauty of Montenegro

law. All of these are important prerequisites for us to become part of the developed EU countries.

BLAGOTA RADOVIĆ, OWNER, ZETAGRADNJA (REAL ESTATE DEVELOPMENT COMPANY) I am of the opinion that the economic citizenship program contributed significantly to the development of Montenegro, primarily in the north, which enabled the state to direct its capacities and begin the realization of the planned construction of ski centres in the north, which have all the predispositions to be one of the best in the region, and which is certainly of great importance for the development of both winter and summer tourism.

DAVID MARGASON, CEO, PORTO MONTENEGRO (ADRIATIC MARINAS LTD) Adriatic Marinas Ltd applied a measured and responsible application of the then newly offered Government of Montenegro Citizenship By Investment (CBIP), investment stimulus initiative, to its Boka Place hospitality-led, mixed-use project and this provided the confidence to our investors to implement this very significant, employment generating scheme at a very challenging time in the market when the COVID pandemic was halting many other projects. Whilst we await completion of the protracted processing of the resulting CBIP applications made by our clients, our experience of the inward investor market reaction to the scheme, has been very positive to date. We have assembled another innovative, diverse and very significant hospitality-led mixed use project SYNCHRO,

which would certainly benefit from the application of the current or any evolved and well operated CBIP program, in terms of investor confidence to launch such a project which we believe would again contribute materially to the further social and economic development of Montenegro.

VASILIJE KOSTIĆ, ECONOMIC ANALYST Two thirds of EU countries have a residence or citizenship by investment program, and such programs have contributed over EUR 20 billion to the EU. Investment migration is something typical for the present, since no country is entirely self-sufficient and all countries seek to attract foreign investments and knowledge. The Montenegrin Government should extend the program because it has the potential to be an important source of investments, especially since Montenegro has discrepancies in public finances, a deficit in the state budget and a high public debt. On the other side, the EU is strongly opposing the program and even exerting pressure on Montenegro to end it, even though EU countries have similar programs. Since we are on the road to accession to the EU, such opposition cannot be ignored, but this does not mean that the program must be cancelled. The credibility of the program would be proven by a rigid administrative procedure with serious background checks, that the EU would monitor or review. The EC and the EU warn of risks such as corruption, money laundering, terrorism financing, but these are unlikely to materialise if the program is built on clear, transparent, and credible procedures.

Henley & Partners is the global leader in residence and citizenship by investment. Each year, hundreds of wealthy individuals and their advisors rely on our expertise and experience in this area. The firm’s highly qualified professionals work together as one team in over 35 offices worldwide. The firm also runs a leading government advisory practice that has raised more than USD 10 billion in foreign direct investment. For more information on acquiring alternative citizenship, e-mail yourfuture@henleyglobal.com or visit henleyglobal.com

Antigua · Australia · Austria · Bangladesh · Canada · China · Cyprus · Dubai · Grenada · Hong Kong · India · Indonesia · Latvia · Malaysia · Malta · Montenegro · Nigeria

Secure your family’s future with alternative citizenship

Define your Future Pakistan · Philippines · Portugal · Singapore · South Africa · South Korea · Spain · Sri Lanka · St. Kitts · St. Lucia · Switzerland · Thailand · Turkey · United Kingdom · Vietnam

HENLEY & PARTNERS Special Edition

THE COLLECTION MAGAZINE volume 31 | Spring-Summer 2022

Introducing the Montenegro Citizenship-byInvestment Program

The Montenegro Citizenship-by-InvestThe Program ment Program was launched by the Government of Montenegro in 2019 as part of requires applicants its ongoing efforts to attract foreign direct to make a investment and increase economic activity in the country. As globalization has exdefined economic panded, residence and citizenship have betopics of significant interest among contribution come the increasing number of internationally to the country. mobile entrepreneurs and investors. he Program requires applicants to make a deIn exchange, T fined economic contribution to the country. and subject to a In exchange, and subject to a stringent vetting and due diligence process, applicants and their families stringent vetting are granted Montenegrin citizenship.

To qualify for the Program, the main applicant and due diligence must meet all application requirements, including making a qualifying investment and contributions process, applicants as follows: contribution to the Government of Monand their families 1. Atenegro of EUR 100,000, designated for the advancement of under-developed areas of the are granted country; and 2.

A contribution of EUR 100,000 to the InMontenegrin novation Fund of Montenegro investment in an approved real estate decitizenship. 3. An velopment project of at least EUR 250,000 (in the northern or central regions of the country) or at least EUR 450,000 (in the coastal regions and the capital, Podgorica.)

Applicants are also required to pay government processing fees (starting from EUR 15,000 for the main applicant) and due diligence fees (starting

Predstavljamo program sticanja CRNOGORSKOG DRŽAVLJANSTVA putem ulaganja Program sticanja crnogorskog državljanstva putem ulaganja pokrenula je Vlada Crne Gore 2019. godine u sklopu stalnih napora da privuče direktne strane investicije i poveća ekonomsku aktivnost u zemlji.

Kako se globalizacija širila, stalno nastanjenje i državljanstvo postali su teme od velikog interesa za sve veći broj međunarodno mobilnih preduzetnika i investitora.

Program od kandidata zahtijeva da daju definisani ekonomski doprinos zemlji. U zamjenu, nakon strogog postupka provjere i dubinske analize, podnosioci zahtjeva i njihove porodice dobijaju crnogorsko državljanstvo.

Kako bi se kvalifikovao za Program, glavni podnosilac zahtjeva mora ispuniti sve kriterijume za prijavu, uključujući kvalifikovano ulaganje i doprinos, i to na sljedeći način:

1. Uplata Vladi Crne Gore od 100.000 EUR, 2.

3.

namijenjena unapređenju nerazvijenih područja zemlje; Uplata Fondu za inovacije Crne Gore od 100.000 EUR Ulaganje u odobreni projekat razvoja nekretnina od najmanje 250.000 EUR (u sje-

from EUR 7,000). Other application fees apply, including escrow and biometric passport fees.

Applicants are required to provide full police clearance checks, significant due diligence documents, and to prove that the funds intended for the investment are clean. For an application to be successful, the main applicant and their dependents must pass various stages of due diligence which are conducted by the government, and through government-mandated due diligence agents.

There are three government-appointed licenced agents, who are mandated to market the Program, and officially submit applications to the government. Dr. Juerg Steffen, CEO of Henley & Partners, one of the licensed agents for the Montenegrin program and the global leader in residence and citizenship by investment, commented on the Montenegro Citizenship by Investment Program: “We are confident that the resulting increase in business activity and new employment opportunities created by the Program 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.”

There is a wide range of benefits granted to successful applicants, including: • Visa-free or visa-on-arrival access to 124 destinations including Europe’s Schengen Area, Russia, and Turkey.

• Citizenship in a country that is a member of NATO, uses the euro as its currency, and is an official candidate country for EU membership • Citizenship in a multinational and multilingual European community that enjoys a mild Mediterranean climate, beautiful scenery, and a low cost of living.

• Citizenship in a member state of the European Monetary Union, the NATO Alliance, OSCE, and the WTO. • A favourable tax environment.

The Program, under its current iteration, is limited by the number of applications, with significant numbers of persons currently expressing interest in the program, in the application process, or have already received their passports. The Program falls under the responsibility of the Montenegrin Investment Agency, who is responsible for receiving and processing applications.

For more information about the Program, please contact the Montenegrin Investments Agency or licensed agents.

vernom ili centralnom dijelu zemlje) ili najmanje 450.000 EUR (u primorskim regijama i glavnom gradu Podgorici).

Od kandidata se takođe traži da izvrše uplatu na ime vladine takse za obradu zahtjeva (koje počinju od 15.000 EUR za glavnog podnosioca prijave) i naknade za dubinsku analizu (koje počinju od 7.000 EUR). Pored toga, primjenjuju se i druge naknade za prijavu, uključujući naknade za escrow i biometrijske pasoše.

Od kandidata se traži da omoguće potpune policijske provjere, dostave relevantne dokumente za potrebe provjere prošlosti, te dokažu da su sredstva koja ulažu čista. Kako bi prijava bila uspješna, glavni podnosilac zahtjeva i izdržavana lica moraju proći različite faze dubinske analize koju sprovode vlada i agenti za dubinsku provjeru koje je ona imenovala.

Tri su ovlašćena agenta koja su imenovana od strane Vlade, i koji samim tim imaju dozvolu da ovaj Program nude na tržištu, te da zvaničnim putem dostavljaju prijave Vladi. Dr Jurg Štefen, izvršni direktor kompanije Henley & Partners, jednog od licenciranih agenata i globalnog lidera u oblasti stalnog nastanjenja i državljanstva putem investicije, prokomentarisao je program sticanja državljanstva Crne Gore putem ulaganja: „Uvjereni smo da će rezultirajući rast poslovne aktivnosti i nove mogućnosti zapošljavanja zahvaljujući ovom Programu podstaći dinamičan društveno-ekonomski rast koji će biti od koristi svim građanima Crne Gore.

Investicione migracije omogućavaju suverenim državama poput Crne Gore da iskoriste ovaj novi izvor održivog prihoda, a da ne postanu prezadužene. Čvrsto vjerujem da će u okruženju, nakon COVID-19, kao i nakon prethodnih poremećaja poput finansijske krize 2008. godine, programi stalnog nastanjenja i državljanstva generisati značajnu vrijednost kako za investitore, tako i za suverene države kojima su potrebni alternativni tokovi prihoda.“ Širok je spektar pogodnosti na koje uspješni kandidati stiču pravo, uključujući: • Bezvizni režim ili mogućnost dobijanja vize po dolasku na 124 destinacije, uključujući evropski šengenski prostor, Rusiju i Tursku • Državljanstvo u zemlji koja je članica NATO-a, koja koristi euro kao svoju valutu i zvanično je zemlja kandidat za članstvo u EU • Državljanstvo u multinacionalnoj i višejezičnoj evropskoj zajednici koja uživa u blagoj mediteranskoj klimi, prekrasnom krajoliku i niskim troškovima života.

• Državljanstvo u državi članici Evropske monetarne unije, NATO saveza, OEBS-a i STO. • Povoljno poresko okruženje U svojom trenutnom obliku, ovaj Program je ograničen u pogledu broja prijava, pri čemu je značajan broj osoba koje su trenutno zainteresovane za podnošenje prijave, čija je aplikacija u procesu, ili koje su već dobile pasoše. Ovaj program spada u odgovornost Agencije za investicije Crne Gore, koja je odgovorna za prijem i obradu prijava.

Za više informacija o Programu, molimo Vas da kontaktirate Agenciju za investicije Crne Gore ili licencirane agente.

„Uvjereni smo da će rezultirajući rast poslovne aktivnosti i nove mogućnosti zapošljavanja zahvaljujući ovom Programu podstaći dinamičan društvenoekonomski rast koji će biti od koristi svim građanima Crne Gore. Investicione migracije omogućavaju suverenim državama poput Crne Gore da iskoriste ovaj novi izvor održivog prihoda, a da ne postanu prezadužene.”

Dr Jurg Štefen, izvršni direktor kompanije Henley & Partners

The Program requires applicants to make a defined economic contribution to the country. In exchange, and subject to a stringent vetting and due diligence process, applicants and their families are granted Montenegrin citizenship.

MONTENEGRO CITIZENSHIP BY INVESTMENT PROGRAM

Breza Hotel & Residences Investment from EUR 250,000

+382 67 262 279 Kolasin’s first 5-star condo hotel combines world-class amenities, local charm, and rustic comfort with a stable outlook for investment in Montenegro’s northern region. In the heart of Kolasin’s Breza settlement, close to the town centre, the hotel extends over a sloping terrain, encircled by woodland, namely birch trees, after which the hotel takes its name. At Breza, the landscape takes centre stage to provide a countryside retreat and haven of peace and serenity, with an accent on luxury and exclusivity. As the country’s principal established ski and mountain resort with proximity to national parks and hiking routes, Kolasin’s jewel Breza is the perfect year-round destination for cultural, culinary and activity-packed stays.

info@hotelbreza.me KEY FEATURES • • • • • • • • •

Category: 5-star Ownership model : Condo Completion of construction: Q4 2022 Hotel operator: Alpha Hotel Management Rental income distribution: 40% of the gross profits Maintenance fee: EUR 50 per m2 per annum Annual property tax: 0.25-0.3% from the market value of the unit Form of ownership: Freehold Furniture: Included

www.hotelbreza.me KEY AMENITIES • • • • • • • • •

Luxury 5-star hotel Wellness and spa center Gym zone Indoor pool Signature hotel restaurant and bar Common areas for residents Spectacular mountain views Montenegro’s first casino with outdoor terrace Hassle-free ownership

The complex houses a total of 144 luxury hotel rooms and 17 prestige apartments ranging from 28m2 standard rooms to two-bedroom suites 88.44m2, with underground parking and capacity for up to 324 guests.

Montis Mountain Resort

+382 (32) 322 025 / +382 (67) 209 469 Montis Mountain Resort will be the largest five-star hotel in the north of Montenegro, with 238 comfortable accommodation units. It is designed as a hotel that will create an attractive offer throughout the year, and with facilities that will be intended for both daily visitors and residents of Kolasin.

The hotel is located in the Kolasin settlement of Breza, on the banks of the river Tara. Although only a few minutes drive from the center of Kolasin, Montis is completely surrounded by greenery and untouched nature, so it will be a kind of oasis of peace for future guests.

Montis Mountain Resort sets a new benchmark in contemporary mountain retreat hospitality, giving justice to the unparalleled splendor of its natural surroundings and drawing on years of industry excellence by the Hotel Splendid management team.

MONTENEGRO CITIZENSHIP BY INVESTMENT PROGRAM

Investment from EUR 250,000

sales@hotelmontis. me

www.hotelmontis.me

Montis Mountain Resort is a part of the Montenegrin Citizenship by Investment Government program. CBI program allows investors to invest in spectacular mountain homes and to become Montenegrin citizens, together with their family members.

KEY FEATURES

KEY AMENITIES

•

• • • • • • • •

Contemporary design in line with the mountain’s region context Indoor-outdoor swimming pool Wellness&Spa Kids room Ski room Conference hall for up to 400 visitors and two smaller conference rooms 3D cinema hosting up to 72 visitors Hotel pub hosting with 120 seats

• • • •

• • •

Category - 5* Ownership model – Condo Completion of construction – Q2 of 2024.

Hotel operator – Splendid Conference & Spa Resort Budva Rental income distribution - 40% of the gross profit per hotel suite No maintenance fees Insurance paid by the hotel operator Montis Mountain Resort offers suites ranging from 32m² to 87m²

MONTENEGRO CITIZENSHIP BY INVESTMENT PROGRAM

Bjelasica 1450

Investment from EUR 250,000

+382 20 610 115 Located near the charming town of Kolašin, in the heart of the unspoilt nature of glorious Mount Bjelasica, in the most exclusive part of the Kolašin 1450 ski centre, on the ski slope itself, the Condo Hotel “Bjelasica 1450” is going to be regarded as an important part of the tourist offer in the northern region of Montenegro.

A total of 168 accommodation units intended for sale, together with the accompanying amenities, are going to be equipped as required for a 4-star hotel.

The application of modern and traditional materials, such as warm wood and stone, is aimed at creating an intimate, and yet visually distinguished, modern and luxurious environment among the available hotel amenities. Here, in an atmosphere where the emphasis is put on healthy and comfortable living, serenity and leisure, the guests’ ultimate goal will be to relax and find peace within self and nature.

Once you step through the door, you will

bjelasica1450@gmail.com be greeted by a sophisticated lobby with a reception and a bar, carefully selected retail facilities (winery, souvenir shop, kids zone etc.), giving off the impression of a private property, sheltered from the outside world. A modern pine and oak coating, elegant colors and attractive textures, as well as the contemporary decorations create a warm and enchanting mountain home atmosphere, providing the guests with a feeling of safety and harmony.

KEY FEATURES • • • •

Category | 4* No. of units | 168 Area range | from 37 m2 - single room to 49 m2 - suites with one bedroom Ownership model | Condo hotel

www.bjelasica1450.me KEY AMENITIES • • • • • •

Wellness and spa center Gym Indoor / Outdoor pool Restaurant, lobby bar and terraces Common areas for residents Ski room

In accordance with the conditions of the Citizenship-by-Investment Programme, the price of a condo unit is EUR 250,000.00 (incl. VAT), where such purchase makes the Client eligible to start with the Montenegrin citizenship procedure. By purchasing a condo unit in the Condo Hotel “Bjelasica 1450”, you will most definitely become one of many satisfied clients of the Investor - “Zetagradnja” Ltd. Podgorica.

Boka Place - Porto Montenegro Marina Village

+382 32 661 059 Situated on an enchanting stretch of Montenegro's coastline, Tivat boasts an exceptional central location in the heart of UNESCO's heritage site, the Bay of Kotor.

It is home to one of the most acclaimed Mediterranean residential and superyacht hub, Porto Montenegro. Boka Place is a new urban-inspired enclave located in this leading residential and mixed-use destination and is currently one of very few waterfront developments eligible for the Citizenship by Investment Programme. Here, residents are offered bespoke lifestyle services and a wealth of amenities in which to indulge. Free from the complexities of the modern world but contemporary in design, buyers can choose from a range of hotel-managed residences, all qualifying for the Citizenship by Investment programme. A great asset of Boka Place will be the world’s first hotel SIRO – a new hospitality concept created by Kerzner International, the group behind Atlantis and

MONTENEGRO CITIZENSHIP BY INVESTMENT PROGRAM

Investment from EUR 450,000

bokaplace@portomontenegro.com One & Only Resorts. Adding dynamism to the neighbourhood and encouraging a health and fitness-infused lifestyle for hotel guests and Boka Place residents alike, the 96-room SIRO will feature an exceptional wellness sanctuary and fitness centre. Available to all residents, the immersive lifestyle experience offered by SIRO will redefine the notion of wellbeing.

KEY FEATURES • • • • • • •

Category | 5* Ownership model | Mixed Completion of construction | Q3 of 2023 Hotel operator | SIRO - Immersive Lifestyle Experiences by Kerzner International Maintenance Fee | €50 /m2 annually Annual Property Tax | 0.44% of sales price Form of ownership | Freehold

www.bokaplace.com KEY AMENITIES • • • • • • • • •

Rooftop Bar Green outdoor areas Cinema Swimming Pool Wellness Hub SIRO - Immersive Lifestyle Experience Food Lab and Juice Bar Shopping Restaurant

A mix of studios, one, two and three-bedoom apartments and penthouses and two and three-bedroom duplexes, ranging between 45m2 and 170m2.

MONTENEGRO CITIZENSHIP BY INVESTMENT PROGRAM

LikoSoho

Investment from EUR 450,000

+382 67 00 22 33

info@likosoho.com

www.likosoho.com

LIKOSOHO - THE ART OF LIVING Liko Soho Group (LSG) LLC was founded with the intention of constructing luxury project on the Adriatic coast, Liko Soho, first elite 5-star hotel in Bar and in top five of that capacity in Montenegro coastal area, with unique apartments located near the seaside.

Liko Soho 5* hotel offers you limited time opportunity to apply for Montenegrin citizenship through obtaining an ownership by investing in one or more property units with minimum amount of 450.000 euro.

This business model does not require your relocation but gives you the opportunity to be an owner of residential units in a hotel complex and stay under the watchful eye of polite staff 24/7, with accompanying facilities that will fill your days in one of the sunniest places in Europe.

Fabulous location in the city center between sea and mountains, contemporary architecture of the hotel with all amenities and infrastructure will modernize the look of the city and will be new popular tourist point on whole Adriatic coast.

Be a part of our project and feel all benefits of living and investing in Montenegro.

KEY FEATURES • • • • •

Category: 5-star Hotel Capacity: 322 rooms, first phase 70.000m2 Layouts: 39 different types Area: 67 - 310 m2 Construction completion: Q4 2025

KEY AMENITIES • • • • • • • •

Wellness and SPA center Open pool and Aqua Park Restaurants and open bar Luxury mall Conference halls Casino Underground parking 24/7 reception and concierge service

Click on the above text to view all publications by Henley & Partners

U.S. Tech Innovators CHOOSE MONTENEGRO CITIZENSHIP

BY INVESTMENT PROGRAM FOR DOMICILE DIVERSIFICATION

THE COLLECTION MAGAZINE volume 30| Autumn-Winter 2021/2022

The Montenegro Citizenship by InvestWith its ease of ment Program has seen a considerable access to major number of applications from dynamic, U.S. citizens, many of whom are EU metropolises, successful high-powered Generation Xers, as reportby Henley & Partners, the global leader investors see ed in residence and citizenship by investment.

Montenegro as In recent years, Montenegro has become an emergent economic hub, and its citian ideal, well- zenship by investment program grants access to the European market priced gateway investors as well as providing European citizenship to Europe and in return for making a defined economic contribution to the country. all the associated CITIZENSHIP – A networking MONTENEGRIN GATEWAY TO EUROPE highly sought-after program and business Montenegro’s has an inbuilt real estate development reproviding an attractive add-on to the opportunities quirement, usual benefits of an additional citizenship — inare likely to see excellent returns on their throughout the vestors real estate investment due to the current property The fact that Montenegro offers one of Euregion. boom. rope’s most favorable tax regimes adds to its appeal to foreign business investors, who are not restricted on foreign ownership in the country.

With its ease of access to major EU metropolises,

Rade Ljumović, Managing Partner at Henley & Partners in Montenegro

Američki tehnološki inovatori biraju Posebni program ulaganja Crne Gore za diversifikaciju svog državljanstva Crnogorski program sticanja državljanstva po osnovu ulaganja ima zavidan broj aplikacija dinamičnih, uspješnih državljana S.A.D. koji uglavnom pripadaju visoko osnaženoj Generaciji X, kako izvještava kompanija Henley & Partners, svjetski lider u oblasti sticanja prebivališta i državljanstva putem ulaganja. Poslednjih godina, Crna Gora postaje sve jači ekonomski centar, a crnogorski program sticanja državljanstva investitorima, uz evropsko državljanstvo, pruža i pristup evropskom tržištu, u zamjenu za definisan ekonomski doprinos u korist države.

CRNOGORSKO DRŽAVLJANSTVO – KAPIJA PREMA EVROPI

Veoma traženi program sticanja državljanstva po osnovu ulaganja Crne Gore uključuje ulaganje u razvojni projekat. Uz sve uobičajene prednosti

Skadar Lake – just one example of the postcard perfect beauty of Montenegro

investors see Montenegro as an ideal, well-priced gateway to Europe and all the associated networking and business opportunities throughout the region. Montenegro is a recognized candidate for future membership of the EU, with 2025 as the target timeline for Montenegrin accession. According to the Henley Passport Index, Montenegro’s passport holders enjoy visa-free or visa-on-arrival access to 123 destinations worldwide, including the countries in Europe’s Schengen Area, Hong Kong, Russia, Singapore, Turkey, and the UAE.

MONTENEGRIN REAL ESTATELINKED CITIZENSHIP BY INVESTMENT YIELDS REAL RETURNS

Applicants to the Montenegro Citizenship by Investment Program must make a minimum financial contribution of EUR 350,000 (minimum investment of EUR 250,000 and a donation of EUR 100,000 to the country), and in exchange, and subject to a stringent vetting and due diligence process including thorough background checks, they and their families are granted Montenegrin citizenship within three to five months.

Rade Ljumović, Managing Partner at Henley & Partners in Montenegro, explains why the Montenegro Citizenship-by-Investment Program is an ideal investment opportunity. “When investors are weighing up their options, along with the financial

dodatnog državljanstva, procvat nekretnina znači da će investitori vjerovatno vidjeti odličan povrat ulaganja u hotele. Crna Gora nudi jedan od najpovoljnijih poreskih režima u Evropi, što doprinosi njenoj atraktivnosti u pogledu stranih investitora, s obzirom da nema ograničenja u pogledu stranog vlasništva.

Zbog lakoće pristupa velikim metropolama EU, investitori vide Crnu Goru kao idealnu kapiju prema Evropi i pratećim prilikama za umrežavanje i biznis u cijelom regionu po pristupačnim cijenama.

Crna Gora je prepoznat kandidat za buduće članstvo u Evropskoj Uniji, dok se 2025. godina navodi kao ciljni rok za crnogorsko pristupanje. Prema Henlijevom indeksu za pasoše, crnogorski pasoš omogućava svojim nosiocima bezvizni pristup ili vizu po prispjeću na 123 destinacije širom svijeta, uključujući zemlje evropske Šengen zone, kao i Hong Kong, Rusiju, Singapur, Tursku i UAE.

CRNOGORSKI PROGRAM DRŽAVLJANSTVA PUTEM ULAGANJA UZ INVESTICIJU U RAZVOJNI PROJEKAT DONOSI REALNE POVRATE

Aplikanti po Posebnom programu ulaganja od posebnog interesa za Crnu Goru dužni su da uplate finansijski doprinos u korist države, u iznosu od najmanje EUR 350,000 (investicija od najmanje EUR 250,000 u razvojni projekat i doprinos u izno-

Crna Gora je prepoznat kandidat za buduće članstvo u Evropskoj Uniji, dok se 2025. godina navodi kao ciljni rok za crnogorsko pristupanje.

Prema Henlijevom indeksu za pasoše, crnogorski pasoš omogućava svojim nosiocima bezvizni pristup ili vizu po prispjeću na 123 destinacije širom svijeta, uključujući zemlje evropske Šengen zone, kao i Hong Kong, Rusiju, Singapur, Tursku i UAE.

A view over magnificient Old Town of Kotor, Boka Bay

Over the past 15 years, Montenegro has emerged as a key second-home and property-investor market in the Mediterranean. As a testament to this, in 2021 the mixed-use projects of Porto Montenegro and Luštica Bay recorded the strongest sales-absorption rates in the region.

Montenegro is punching well above its weight, and successfully so. One of the reasons for this is Montenegro’s ability to cater to everyone.

requirements, passport strength, and processing time, they consider numerous other vital factors.

They take into account the business environment and taxes, and if investing in real estate, the buoyancy of the property market. The state has, in the long run, created a strong and sustainable environment to accelerate the economy and digital society — an important factor for leading US innovators in the tech sphere, who are increasingly interested in Montenegro and whose real estate investment is just the start. More and more investors are choosing Montenegro because the country meets all these requirements and much more.”

Over the past 15 years, Montenegro has emerged as a key second-home and property-investor market in the Mediterranean. As a testament to this, in 2021 the mixed-use projects of Porto Montenegro and Luštica Bay recorded the strongest sales-absorption rates in the region. Montenegro is punching well above its weight, and successfully so. One of the reasons for this is Montenegro’s ability to cater to everyone. Investors can choose from glamorous seaside resorts to new hotels in the north. For those who prefer the coast, the spectacular bays are being transformed into a high-end destination that is attracting ultra-high-net-worth individuals seeking primary and second homes — discerning investors with sharp eyes for potential.

su od EUR 100,000 Vladi Crne Gore). U zamjenu za to, nakon prolaska kroz strogi postupak odobravanja i međunarodne provjere, koja uključuje temeljnu pozadinsku provjeru, aplikanti i njihove porodice dobijaju crnogorsko državljanstvo u roku od tri do pet mjeseci.

Rade Ljumović, partner direktor u kompaniji Henley & Partners u Crnoj Gori, objašnjava zašto crnogorski program predstavlja idealnu priliku za investiciju. „Pored finansijskih uslova, jačine pasoša, i trajanje procesa apliciranja, investitori sagledaju i brojne druge važne faktore prilikom razmatranja opcija za investicije. Uzimaju u obzir poslovno okruženje i poreze, a ako investiraju u nepokretnost, aktivnost i rast tržišta nekretnina. Država je dugoročno kreirala snažno i održivo okruženje za ubrzanje ekonomije i digitalnog društva — važan faktor za vodeće američke inovatore u tehnološkoj sferi, koji se sve više interesuju za Crnu Goru i čija su ulaganja u nekretnine tek početak. Investitori sve češće biraju Crnu Goru jer država ispunjava ove uslove.“ U poslednjih 15 godina, Crna Gora se pojavljuje kao novo ključno tržište za ulaganje u nekretnine i drugi dom na Mediteranu. Tokom 2021. godine, projekti Porto Montenegro i Luštica Bay, koji posluju po mješovitom modelu, zabilježili su najveću stopu prodaje i apsorpcije u regionu. Crna Gora uspješno prevazilazi svoje mogućnosti. Jedan od razloga koji to omogućavaju je sposobnost Crne Gore da pruži adekvatnu ponudu svima. Investitori mogu da biraju između glamuroznih rizorta na moru, do

MONTENEGRO’S PROGRAM HAS BOOSTED ITS SOVEREIGN EQUITY

The Montenegro Citizenship by Investment Program was developed by the Government of Montenegro and was launched in October 2019 as part of its ongoing efforts to attract foreign direct investment and increase economic activity in the country.

The positive impact of the resulting boost in sovereign equity and investment inflows are already evident. In addition to boosting fiscal health and economic growth, the debt-free liquidity will enable the country to become more competitive and its economy to become more sustainable, which will result in greater autonomy. This enhanced sovereign equity will result in Montenegro being less dependent on foreign lending and better able to drive national resources to where they are needed most. For ordinary citizens, the benefits will be felt in greater employment opportunities, better social services, and improved infrastructure and education.

Investors are looking keenly to the future, anticipating how Montenegro will evolve over the next five or so years to produce increasingly attractive yields.

CONTACT HENLEY & PARTNERS

With over 35 offices worldwide and a local office in Montenegro, Henley & Partners’ experienced global team is best placed to guide you through your citizenship journey. Visit henleyglobal.com to find out more, or contact the firm’s expert advisors on +382 20 674 074, or e-mail montenegro@henleyglobal.com

“ Država je dugoročno kreirala snažno i održivo okruženje za ubrzanje ekonomije i digitalnog društva — važan faktor za vodeće američke inovatore u tehnološkoj sferi, koji se sve više interesuju za Crnu Goru i čija su ulaganja u nekretnine tek početak. "

novih hotela na sjeveru, čija popularnost raste. Za one koji preferiraju morsku obalu, spektakularni zalivi se transformišu u vrhunske destinacije i privlače ličnosti ultra visoke neto vrijednosti koji su u potrazi za primarnom i sekundarnom bazom – razborite investitore koji prepoznaju potencijal.

CRNOGORSKI PROGRAM PODSTIČE SLOBODNI KAPITAL DRŽAVE

U oktobru 2019. godine, crnogorska Vlada je uvela program sticanja državljanstva po osnovu ulaganja u sastavu svojih kontinuiranih napora da privuče strane direktne investicije i poveća ekonomsku aktivnost unutar države. Pozitivni uticaj rezultirajućeg porasta slobodnog kapitala i investicionih prihoda su već osjetni. Uz podizanje finansijske stabilnosti i ekonomskog rasta, likvidnost bez zaduživanja će omogućiti državi da postane konkurentnija i njenoj ekonomiji da postane održivija, što će rezultirati u značajnijoj autonomiji. Porast slobodnog kapitala će rezultirati u manjoj zavisnosti Crne Gore od stranih pozajmica i pružiti joj mogućnost da bolje usmjeri državne resurse tamo gdje su najpotrebniji. Za državljane, prednosti će biti proširenje opcija zaposlenja, boljim društvenim uslugama, kao i poboljšana infrastruktura i obrazovanje.

Investitori gledaju ka budućnosti, iščekujući kako će se Crna Gora razvijati tokom sledećih 5 godina i dalje da bi proizvela uslove za sve privlačnije povrate.

KONTAKTIRAJTE GLOBALNOG LIDERA

Sa preko 35 kancelarija širom svijeta i lokalnom kancelarijom u Crnoj Gori, Henley & Partners tim visoko kvalifikovanih profesionalaca je u najboljoj poziciji da Vas vodi na putu ka državljanstvu. Posjetite henleyglobal.com da biste saznali više, ili kontaktirajte stručne savjetnike naše kompanije putem broja telefona +382 20 674 074, ili e-mail adrese montenegro@henleyglobal.com

156

THE COLLECTION

INTRODUCING

The Montenegro Citizenship BY-INVESTMENT PROGRAM

Photo Courtesy of Regent Porto Montenegro (@radza)

THE COLLECTION MAGAZINE volume 27| Autumn-Winter 2020/ 2021

@montenegro360.me

An investment in an approved real estate development program of at least EUR 250,000 in the northern or central regions of the country or at least EUR 450,000 in the coastal regions and the capital, Podgorica is just one of the requirements that applicant must meet.

The Montenegro Citizenship-by-Investment Program was launched by the Government of Montenegro in 2019 as part of its ongoing efforts to attract foreign direct investment and increase economic activity in the country. As globalization has expanded, residence and citizenship have become topics of significant interest among the increasing number of internationally mobile entrepreneurs and investors.

T

he Program requires applicants to make a defined economic contribution to the country.

In exchange, and subject to a stringent vetting and due diligence process, applicants and their families are granted Montenegrin citizenship.

To qualify for the Program, the main applicant must meet all application requirements, including making a qualifying investment and a contribution as follows: • A contribution to the Government of Montenegro of EUR 100,000, designated for the advancement of under-developed areas of the country; and • An investment in an approved development program of at least EUR 250,000 (in the northern or central regions of the country) or at least EUR 450,000 (in the coastal regions and the capital, Podgorica.)

Applicants are also required to pay government processing fees (starting from EUR 15,000 for the main applicant) and due diligence fees (starting from EUR 7,000). Other application fees apply, including escrow and biometric passport fees.

Predstavljamo program sticanja crnogorskog državljanstva putem ulaganja Program sticanja crnogorskog državljanstva putem ulaganja pokrenula je Vlada Crne Gore 2019. godine u sklopu stalnih napora da privuče direktne strane investicije i poveća ekonomsku aktivnost u zemlji.

Kako se globalizacija širila, stalno nastanjenje i državljanstvo postali su teme od velikog interesa za sve veći broj međunarodno mobilnih preduzetnika i investitora.

Program od kandidata zahtijeva da daju definisani ekonomski doprinos zemlji. U zamjenu, nakon strogog postupka provjere i dubinske analize, podnosioci zahtjeva i njihove porodice dobijaju crnogorsko državljanstvo.

Kako bi se kvalifikovao za Program, glavni podnosilac zahtjeva mora ispuniti sve kriterijume za prijavu, uključujući kvalifikovano ulaganje i doprinos, i to na sljedeći način: • Uplata Vladi Crne Gore od 100.000 EUR, namijenjena unapređenju nerazvijenih područja zemlje; i • Ulaganje u odobreni program razvoja od najmanje 250.000 EUR (u sjevernom ili centralnom dijelu zemlje) ili najmanje 450.000 EUR (u primorskim regijama i glavnom gradu Podgorici).

Photo Courtesy of Ski Resorts of Montenegro

Applicants are required to provide full police clearance checks, provide significant due diligence documents, and to prove that the funds which are being invested are clean. For an application to be successful, the main applicant and their dependents must pass various stages of due diligence which are conducted by the government, and through government-mandated due diligence agents.

There are three government-appointed licenced agents, who are mandated to market the Program, and officially submit applications to the government. Dr. Juerg Steffen, CEO of Henley & Partners, one of the licensed agents, and the global leader in residence and citizenship planning, commented on the Montenegro Citizenship by Investment Program: “We are confident that the resulting increase in business activity and new employment opportunities created by the Program 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 postCOVID-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.”

There is a wide range of benefits granted to successful applicants, including: • Visa-free or visa-on-arrival access to 124 destinations including Europe’s Schengen Area, Russia, and Turkey.

Od kandidata se takođe traži da izvršu uplatu na ime vladine takse za obradu zahtjeva (koje počinju od 15.000 EUR za glavnog podnosioca prijave) i naknade za dubinsku analizu (koje počinju od 7.000 EUR). Pored toga, primjenjuju se i druge naknade za prijavu, uključujući naknade za račune i biometrijske pasoše.

Od kandidata se traži da omoguće potpune policijske provjere, dostave relevantne dokumente za potrebe provjere prošlosti, te dokažu da su sredstva koja ulažu čista. Kako bi prijava bila uspješna, glavni podnosilac zahtjeva i izdržavana lica moraju proći različite faze dubinske analize koju sprovode vlada i agenti za dubinsku provjeru koje je ona imenovala.

Tri su ovlašćena agenta koja su imenovana od strane Vlade, i koji samim tim imaju dozvolu da ovaj Program nude na tržištu, te da zvaničnim putem dostavljaju prijave Vladi. Dr Jurg Štefen, izvršni direktor kompanije Henley & Partners, jednog od licenciranih agenata i globalnog lidera u planiranju stalnog nastanjenja i državljanstva, prokomentarisao je program sticanja državljanstva Crne Gore putem ulaganja: „Uvjereni smo da će rezultirajući rast poslovne aktivnosti i nove mogućnosti zapošljavanja zahvaljujući ovom Programu podstaći dinamičan društveno-ekonomski rast koji će biti od koristi svim građanima Crne Gore. Investicione migracije omogućavaju suverenim državama poput Crne Gore da iskoriste ovaj novi izvor održivog prihoda, a da ne postanu prezadužene. Čvrsto vjerujem da će u okruženju, nakon COVID-19, kao i nakon prethodnih poremećaja poput finansijske krize 2008. godine, programi stalnog nastanjenja

„Uvjereni smo da će rezultirajući rast poslovne aktivnosti i nove mogućnosti zapošljavanja zahvaljujući ovom Programu podstaći dinamičan društvenoekonomski rast koji će biti od koristi svim građanima Crne Gore. Investicione migracije omogućavaju suverenim državama poput Crne Gore da iskoriste ovaj novi izvor održivog prihoda, a da ne postanu prezadužene.”

Dr Jurg Štefen, izvršni direktor kompanije Henley & Partners

@radza

•

•

• •

Applicants are required to provide full police clearance checks, provide significant due diligence documents, and to prove that the funds which are being invested are clean.

Citizenship in a country that is a member of NATO, uses the euro as its currency, and is an official candidate country for EU membership Citizenship in a multinational and multilingual European community that enjoys a mild Mediterranean climate, beautiful scenery, and a low cost of living.

Citizenship in a member state of the European Monetary Union, the NATO Alliance, OSCE, and the WTO. A favourable tax environment (for example a single 9% corporate income tax rate).

The Program, under its current iteration, is limited by the number of applications, with significant numbers of persons currently interested, in the application process, or have already received their passports. The Program falls under the responsibility of the Montenegrin Investment Agency, who is responsible for receiving and processing applications, something which is performed very efficiently.

For more information about the Program, please contact Montenegrin Investment Agency or licensed agents.

i državljanstva generisati značajnu vrijednost kako za investitore, tako i za suverene države kojima su potrebni alternativni tokovi prihoda.“ Širok je spektar pogodnosti na koje uspješni kandidati stiču pravo, uključujući: • Bezvizni režim ili mogućnost dobijanja vize po dolasku na 124 destinacije, uključujući evropski šengenski prostor, Rusiju i Tursku • Državljanstvo u zemlji koja je članica NATO-a, koja koristi euro kao svoju valutu i zvanično je zemlja kandidat za članstvo u EU • Državljanstvo u multinacionalnoj i višejezičnoj evropskoj zajednici koja uživa u blagoj mediteranskoj klimi, prekrasnom krajoliku i niskim troškovima života.

• Državljanstvo u državi članici Evropske monetarne unije, NATO saveza, OEBS-a i STO. • Povoljno poresko okruženje (na primjer, jedinstvena stopa poreza na dobit od 9%).

U svojom trenutnom obliku, ovaj Program je ograničen u pogledu broja prijava, pri čemu je značajan broj osoba koje su trenutno zainteresovane za podnošenje prijave ili koje su već dobile pasoše. Ovaj program spada u odgovornost Agencije za investicije Crne Gore, koja je odgovorna za prijem i obradu prijava, što ona i vrlo efikasno sprovodi.

Za više informacija o Programu, molimo Vas da kontaktirate sa Agencijom za investicije Crne Gore ili licenciranim agentima.

MONTENEGRO CITIZENSHIP BY INVESTMENT PROGRAM

K16 HOTEL

Investment from EUR 250,000 Nested at the base of the Bjelasica mountain range and just next to Biogradsko Lake national park, Kolašin is a perfect adventure getaway for those who search to escape the city buzz.

K16 hotel is located at the ski slope of the Kolasin 1600, a highest altitude point resort in the Municipality of Kolašin.

At the base station of 1,600m height, hotel K16 occupies the most attractive vicinity of the main cable car and has a direct access to the ski slope. Still, the hotel is very private and secluded as it is surrounded by a centuries old pine forest. The hotel features a top of the class, panoramic wellness and spa facility overseeing the stunning landscape.

The hotel is under construction and is aiming to be completed by the winter season 21/22.

Contact details: info@k16resort.me www.k16resort.com

KEY FEATURES

KEY AMENITIES

• • • •

• • • • • • •

Category | 4* Ownership model | Condo Completion of construction | Q4 of 2022 Hotel operator | In final negotiations with Swissôtel

2 high class hotels consisting of 368 units 7 apartment buildings 28 family villas Wellness and Spa Lobby and reception Restaurant and bar Common areas for residents

GRAND CHALET HOTEL KOLAŠIN

Investment from EUR 250,000 The project is located within the Ski resort Kolašin 1450, the most popular ski destination in Montenegro. The highest peak, Crna glava, is 2,139m high, and the ski resort itself is 9 km away from the town of Kolašin.

Modelled based on the highest standard of hotels in the French alps, the hotel complex will consist of two sister hotels, and will have 116 units in total.

The resort currently operates 40 km of ski trails, while there are plans to develop additional 125 km (including possibility of artificial snow to prolong the regular ski season), making Kolašin the leading ski center in the region.

With the finalisation of the highway between the capital, Podgorica, and Kolašin, it will be possible to reach the hotel in less than 30 minutes.

Contact details: office.kolasin1450@gmail.com www.development.kolasin1450.com www.kolasin1450.com

KEY FEATURES

KEY AMENITIES

• • • •

• • • • • •

Category | 4* Ownership model | Condo Completion of construction | Q1 of 2023 Hotel operator | TBD

2 High-class Hotel complex consisting of 116 units Lobby and reception Aperitif Bar Restaurant with terrace Common areas for residents Parking

MONTENEGRO CITIZENSHIP BY INVESTMENT PROGRAM

HOTEL BREZA

Investment from EUR 250,000

Hotel Breza is in close proximity to the town center of Kolašin. The project site e xtends over a sloping terrain in a natural environment, starting from 929m above sea level.

On the riverbank of Tara, one of the clearest and cleanest rivers in Europe, surrounded by the beautiful mountains Bjelasica and Sinjajevina, Breza occupies one of the most attractive places to stay. The Ski center is situated 11.2 km away from the hotel, and the area immediately surrounding the hotel is destined to become a top tourist attraction, with further facilities including new hotels and restaurants being constructed in the future.

Construction started in May 2020, and is on-schedule to complete by the deadline of the end of 2022.

Contact details: Cell: + 382 67 262 279 e-mail: milic@madok.me pekovic.milic@gmail.com www.hotelbreza.me

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Category | 5* Ownership model | Condo Completion of construction | 31.12.2022 Hotel operator | Developer operated Annual Property Tax | 0.25-0.5% of sales price Form of ownership | Freehold

Luxury 5-star hotel Wellness and Spa center Indoor pool Casino

Units ranging from 28m2 single rooms to 82m2 master suites.

MONTIS MOUNTAIN RESORT

Investment from EUR 250,000 Montis Mountain Resort is located in Kolašin, Montenegro’s most vibrant mountain town, a popular summer and winter tourist destination. The Hotel’s position on the bank of Europe’s natural gem - Tara River and the planned green pedestrian spine will connect Montis Mountain Resort with the planned cable car station, leading up towards the ski center.

The river walkway will connect the hotel with nearby sports, leisure, recreational and other facilities along the Tara River banks.

The Montis Mountain Resort offers opportunity to own a sustainable luxury suite, along with coveted access to the resort’s incomparable five-star service.

The hotel is expected to start construction in Q1 of next year.

Contact details: PC Skaljari I floor, Skaljari, 85330 Kotor, Montenegro Tel : +382 (32) 322 025 +382(67) 209 469 sales@hotelmontis.me www.hotelmontis.me

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Category | 5* Ownership model | Condo Completion of construction | Q2 of 2024 Hotel operator | TBD

Montis Mountain Resort offers suites ranging from 33m2 to 45 m2

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Contemporary design in line with the mountain region’s context Indoor-outdoor swimming pool Wellness & spa Kids club Ski room Conference hall for up to 400 visitors and two smaller conference rooms 3D cinema hosting up to 72 visitors Hotel pub hosting with 120 seats

MONTENEGRO CITIZENSHIP BY INVESTMENT PROGRAM

BOKA PLACE

(Porto Montenegro Marina Village)

Investment from EUR 450,000 Situated on an enchanting stretch of Montenegro's coastline, Tivat boasts an exceptional central location in the heart of UNESCO's heritage site, the Bay of Kotor. It is home to one of the most acclaimed Mediterranean residential and superyacht hub, Porto Montenegro.

Boka Place is a new urban-inspired enclave located in this leading residential and mixed-use destination and is currently one of very few waterfront developments eligible for the Citizenship by Investment Programme. Here, residents are offered bespoke lifestyle services and a wealth of amenities in which to indulge. Free from the complexities of the modern world but contemporary in design, buyers can choose from a range of hotel-managed residences, all qualifying for the Citizenship by Investment programme.

Along with the opportunity of becoming a citizen of this beautiful country, Boka Place promises a lifestyle of styled comfort and wellbeing.

Contact details: tel: +382 32 661 059 e-mail: bokaplace@portomontenegro.com www.bokaplace.com

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Category | 5* Ownership model | Mixed Completion of construction | Q3 of 2023 Hotel operator | SIRO a fitness-infused hotel and wellness hub Maintenance Fee | €42 /m2 annually Annual Property Tax | 0.44% of sales price Form of ownership | Freehold

A mix of studios, one, two and three-bedoom apartments and penthouses and two and three-bedroom duplexes, ranging between 45m2 and 170m2.

Rooftop Bar Green outdoor areas Cinema Swimming Pool Wellness Hub SIRO 360° Vitality Hub Food Lab and Juice Bar Shopping Restaurant Access to Porto Montenegro Yacht Club