Montenegro

Economic Citizenship 2019

Decision on the criteria, method and procedure for election of persons who can obtain Montenegrin citizenship by admission for the realization of a special investment program of particular importance for the economic and economic interest of Montenegro.

Subject

Article 1
This Decision prescribes the criteria, method and procedure for the election of persons who applying for citizenship (hereinafter referred to as "the Applicant") for the realization of a special investment program and special importance for the economic and economic interest of Montenegro, on the basis of which Montenegrin citizenship can be obtained by admission (hereinafter referred to as "Special Program")

Use of gender sensitive language

Article 2
The terms used in this Decision for a physical person in a man's gender include the same expressions in a feminine genus.

Special program

Article 3
A Special Program is considered a program contributing to the economic and economic development of Montenegro by paying funds intended for the development of less developed local Municipalities related to the Regional Development Law and investing in development projects determined in accordance with this Decision.

A special program shall be implemented by the Administrative Department responsible for development projects (hereinafter: the Competent Department)

Agent for intercession and International due diligence Agent

Article 4
The applicant submits a request for the realization of the Special Program through the Agent for intercession, and the Applicant’s  verifies will make International due diligence Agent,  licensed in accordance with this Decision

Method of Issue Licenses

Article 5
The Agent for intercession and International due diligence Agent on the basis of a public call shall be selected by the Competent Department.
With the Agent for intercession and International due diligence Agent for which the Competent Department  determines that they fulfill the requirements of Article 6 of this Decision, the Government of Montenegro (hereinafter: the Government) concludes the Agreement.
Pursuant to the contract referred to in paragraph 2 of this Article, the Competent Department issues licenses to the Agent for intercession and the International due diligence Agent.

Terms of Licensing

Article 6
License for Agent for intercession can be issued to the legal entity who meets the following conditions:

1. A responsible person in that Company, in Montenegro or in another country is not legally convicted of unconditional imprisonment for a term of more than one year for a criminal offence that is committed to serving duties or the remaining legal consequences of conviction for such a criminal offence.
2. For at least three years, do the same or similar activities in at least three states, on the basis of a contract or a license, and at least one of them is a member of the European  Union.

License for a Due Diligence Agent can be obtained by a legal entity if it meets the following conditions:

1. A responsible person in a legal entity in Montenegro or other States is not legally convicted of unconditional imprisonment for a term of more than one year for a criminal offence that is committed to an official duty or the remaining legal consequences of conviction for such a criminal offence.
2. Has experience of at least three years in performing the international due diligence.

Time of validity and License’s Cost

Article 7
The licenses referred to in Article 6 of this Decision shall be issued for a period of one year and may be extended twice on a one-year term, on request of Agent for intercession and International due diligence Agent,  without re-concluding the Agreement  referred to in Article 5, paragraph 2 of the Decision.

The costs of issuing the license referred to Article 6, paragraph 1 of this Decision and the costs of extending the license in accordance with paragraph 1 of this Article shall be paid by the Agent for intercession.

The amount of costs referred to in paragraph 2 of this Article is amount of 50,000 euro and is payable on the account of the Competent Department.

The license for International due diligence Agent is free of charge.

List of Agencies

Article 8
Based on the licenses issued under Article 6, paragraph 1 of this Decision, a list of agents for intercession  will be made and on the basis of the licenses issued under Article 6, paragraph 2 of this Decision, a list of International due diligence Agents will be made.

The lists referred to in paragraph 1 of this Article shall be drawn up and updated by the Competent Department and published on their website.

Termination of license validity

Article 9
The licenses referred to in Article 6, paragraph 1 of this Decision shall cease to have effect if the Agent for intercession and International due diligence Agent does not fulfil the obligations confirmed in the Agreement referred to in Article 5, paragraph 2 of this Decision without the obligation to repay the funds referred to in Article 7, paragraph 3 of this Decision.

The decision on termination of the licensee referred to in paragraph 1 of this Article shall be made by the Competent Department.

Criteria for Applicants

Article 10
An applicant may acquire Montenegrin citizenship by admission to the Special Program if:

- For the purpose of the costs of the proceedings, he / she paid the payment from:
15,000 euro for the applicant
10,000 euro for each of the  members of the family, and most for 4 family members
50,000 euro for each following member of the family.
- On the ESCROW account she / he has made a payment of EUR 100,000 (one hundred thousand euro) for development of less developed local Municipalities related to Article 18 of the Regional Development Law.
- On the ESCROW account she / he has paid an amount of at least EUR 450,000 (four hundred and fifty thousand euro) for the purpose of investing in one of the development projects in the Capital city Podgorica or in the Montenegrin coastal region,  or at least EUR 250,000 (two hundred and fifty thousands of euro) under this program for the purpose of investing in some of the development projects in the northern or central region of Montenegro, except in the Capital city Podgorica.
- In Montenegro or in other country is not legally convicted of unconditional imprisonment for a term of more than one year for a criminal offence that is committed to an official duty or the remaining legal consequences of conviction for such a criminal offence.
- The Agent for international due diligence gave positive opinion, which also includes evidence of the origin of the money intended for payment and  investment in accordance with this Decision.

Development project in tourism

Article 11
Under the development project, within of this Decision, the construction of a hotel or a mixed complex shall include:

- with 5-star in the coastal region or Capital city Podgorica or at least 4-star  in the northern or central region, except Capital city Podgorica
- where is minimum investment of EUR 15 million in the coastal region or Capital city Podgorica or a minimum investment of EUR 5 million in the northern or central region, except Capital city Podgorica.
- which will employ at least 80 employees in the coastal region or Capital city Podgorica or at least 30 employees in the northern or central region except Capital city Podgorica.
- have at least 100 accommodation units in the coastal region or Capital city Podgorica or at least 50 accommodation units in the northern or central region, except Capital city Podgorica.

The list of development projects in accordance to paragraph 1 of this Decision, shall be determined by the Government of Montenegro on the proposal of the Ministry of development and tourism.

A list of development projects is publishing on web site of the Competent Department.

The regions referred to in Article 10, paragraph 1, item 2 of this Decision and paragraph 1 of this Article are determined in accordance with the Law on Regional Development.

Development projects in the field of agriculture and the processing industry.

Article 12
For the purposes of this Decision, development projects shall also include:

Agriculture projects that meet the conditions determinated by the Department responsible for agriculture and rural development;
Projects in the field of the processing industry, which meet the conditions established by Department responsible for the economy.

The list of development projects referred to in paragraph 1 item 1 of this Article shall be detreminated by the Government,  by the proposal of the Department responsible for agriculture and rural development, and the list of development projects referred to in paragraph 1 item 2 of this Decision shall be determinated  by the Government at the proposal of the Department responsible for the economy  and the Department responsible for agriculture and rural development.

The lists referred to in paragraph 2 of this Article shall be published on the website of the Competent Department.

Request for acquisition of Montenegrin citizenship

Article 13
Application for acquisition of Montenegrin citizenship by admission according to the Special Program the Applicant through the Agent for intercession submits to the Competent Department for himself and for the members of his family.

Family members, within the meaning of paragraph 1 of this Article, are considered to be:

- spouse;
- children of applicants from the age of 18 who are supported by the Applicant;
- children under the age of 18, who can obtain Montenegrin citizenship by legal age.

Members of the family referred to in paragraph 2 of this Article must fill up the criteria referred to in Article 10, paragraph 1, item 5 of this Decision, and the spouse and children of the applicant aged 18 and over must fill up the criteria referred to in Article 10 paragraph 1 item 4 of this Decision.

The request referred to in paragraph 1 of this Article shall be submitted on the form established by the Competent Department and published on its website.

With the application referred to in paragraph 1 of this Article, the applicant for himself and his family members shall attach:

- Notarized passport copy (apostilled if applies)

- Extract from the birth registry

- Extract from the marriage registry

- Health insurance policy valid in Montenegro

- Medical report about infective decease issued in thecountry of origin - Statement about funds origin for investment purposes

- CV

Criteria for family members

Article 14
When the Competent Department defined that the Applicant fulfilled  the criteria mentioned  in Article 10 of this Decision and also for the members of his family of criteria referred to in Article 13, paragraph 3 of this Decision and the Applicant has enclosed the evidence referred to in Article 13, paragraph 5 of this Decision, submits the report to the Prime Minister.

Procedure

Article 15
When the Department responsible for internal affairs informs the Competent Department , acting on a proposal from the Prime Minister, has determined that the conditions for admission of the reception the Applicant and members of his family to Montenegrin citizenship are fulfilled, the Competent Department will inform the Applicant.

In the notification referred to in paragraph 1 of this Article, the Competent  Department shall inform the Applicant that  she / he is obliged to make a payment from the ESCROW account referred to in Article 10, paragraph 1, items 2 and 3 of this Decision to the account intended for the development of less developed local
Municipalities as well as into the account of the Investor of development project if is registered in Montenegro, or to the account of a company that executes a development project and it is registered in Montenegro.

The payment check referred to in paragraph 2 of this Article shall be carried out by an independent auditor who is engaged by the Competent Department. Independent Auditor is engaged on a public bid to monitor investments in development projects.

On the basis of the report of the Independent Auditor, the Competent Department shall inform the Department responsible for internal affairs that the payment is made by paragraph 2 of this Article, and that all the conditions have been done  for  Decision on Admission to Montenegrin Citizenship under the Special Program.

Limitations

Article 16
A maximum of 2000 requests for acquisition of Montenegrin citizenship may be granted for the duration of the Special Program
   
Providing false data

Article 17.
If afterwards be confirmed that a person who has acquired Montenegrin citizenship by acceptance accordance to this Decision gave false information  or purposely hiding facts or circumstances referred to in Article 10 abd Article 13, paragraph 3,  of this Decision as well as the case where the Agent for international due diligence for that Person provided incorrect information in his repor, Compentent Department will inform Department of interior affairs to start a procedure for the loss of Montenegrin citizenship in accordance with a special Law of citizenship.

Entry into force and enforcement

Article 18
This Decision shall enter into force on the eighth day after its publication in the Official Gazette of Montenegro and shall apply from 1 January 2019 to 31 December 2022.

The full Investment and donation are post approval to pay and will go back to an applicant if the Government decides against it.

It is not required to permanently reside in Montenegro, but it is important to note that citizenship may be revoked if a person does not spend at least 5 days in Montenegro during the period of five calendar years after having obtained citizenship. If that happened, the person will not be entitled to repayment of any investment and contribution.

Some Highlights:

• Residency is given within 3 weeks and approval of citizenship within six months

• No language requirements

• Low tax jurisdiction

• Montenegro is a candidate country for expansion of the EU expected by 2025

• Visa free access to more than 100 countries: https://en.wikipedia.org/wiki/Visa_requirements_for_Montenegrin_citizens#Dependent,_disputed_or_restricted_territories

PROFESSIONAL FEES PAYABLE TO MARKETING AND DUE DILLIGENCE AGENTS:

EUR 25,000 – professional fee payable to a local Government approved marketing agent (for a family up to 4 members + EUR 5.000 for each 5th and more family members)

EUR 10,000 - professional fee payable to an international Government approved Due Diligence agent.

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