Montenegro
Crna Gora

The Republic of Montenegro launched the long-awaited Investment Citizenship (CBI) program on October 1, 2018, aimed at attracting foreign investment in the country. The plan is valid until December 31, 2021. The program has an limit of 2,000 applications.

Montenegro Introduction

Montenegro (Montenegro: Црна Гора, transliteration: Crna Gora, literal translation: Black Mountain) is a mountainous country located on the eastern shore of the Adriatic Sea in the southwest of the Balkan Peninsula. It is a small country in Southern Europe. Montenegro is Serbia in the northeast, Kosovo in the east (unilaterally declared independence on February 17, 2008), Albania in the southeast, Bosnia and Herzegovina and Croatia in the northwest, and the Adriatic Sea in the southwest (for Part of the Mediterranean Sea), the natural scenery of Montenegro is spread over the beaches of the Adriatic Sea. Its rich cultural heritage and modernity combine to become the most beautiful beach country in southern Europe except Italy and Greece. Montenegro adopted the euro and is joining the European Union. The Montenegro passport allows visa-free entry into many countries including the European Schengen area. The Parliament of Montenegro officially declared its independence and became a member of the United Nations. On June 5, 2017, Montenegro joined NATO as the 29th member state of the organization.

Population and economy

Montenegro is divided into 21 areas (opština) with a population of about 650,000 (estimated in 2014). The Montenegro accounts for 44.98%, and Montenegro’s economy is supported by the service industry. In 2007, the service industry accounted for 72.4% of gross national product, manufacturing and agriculture accounted for 17.6% and 10%, respectively. The manufacturing industry in Montenegro is mainly aluminum and steel, followed by agricultural products processing. The gross national product of Montenegro has an increase of 10.7%, and tourism is the economic lifeline of Montenegro. Each year, about 1 million tourists arrive in Montenegro for sightseeing, bringing in revenue of nearly 500 million euros. .

EU 27+1

Montenegro and the EU began negotiations on the Stabilisation and Association Agreement (SAA) in September 2006. The agreement was formally signed on October 15, 2007, and entered into force on May 1, 2010. SAA is part of the policy of joining the EU. Prior to this, the 27 EU member states have signed a formal agreement and made it domestically compliant.

The European Commission recommended Montenegro as a candidate country on November 9, 2010. This identity was officially granted to Montenegro on December 17, 2010. Therefore, there is the EU 27+1, which refers to the EU countries (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg) , Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden) plus Montenegro.

System compliance, become a better country

In order to deal with these issues, Montenegro has made compliance with the regulations on ecology and justice to conform to the EU system. In order to deal with these issues, the Ministry of Foreign Affairs and the Ministry of European Integration have established a full-time institution dedicated to joining the European Union, namely the Office of Chief Negotiator Assistance. For example: On July 27, 2010, the Montenegrin Parliament passed a non-discrimination law, which prohibits the use of sexual orientation and gender identity as a reason for discrimination. This is one of the compliances made by the EU. Montenegro is expected to be completed in 2025 and become a full member of the European Union. Now citizens of Montenegro can enter the Schengen area without a visa, including Bulgaria, Cyprus and Romania. Moving to Montenegro is guaranteed by EU law, freedom and social security.

Potential opportunities to access EU

Free circulation of goods, freedom of work, freedom of provision of services, free movement of capital, financial services, food security, fisheries, transportation policies, economic and monetary policies, social and employment policies, trans-European networks, judicial and basic rights, life Freedom and security, science and research, and education and study.

Business opportunity

Montenegro companies use a favorable tax system. Montenegro is one of the lowest personal income tax rates in Europe and one of the best conditions for free business in the EU. The corporate tax rate is only 9%. Montenegro is regarded as the pearl of the Balkans and one of the fastest growing economies in the Balkans. It enjoys a good reputation and tourists can enjoy beautiful scenery and historical monuments. The official language is Montenegrin, where Albanian, Bosnian and Croatian are also spoken. Montenegro is an existing member of the United Nations and the North Atlantic Treaty Organization (NATO). In order to enhance the domestic tourism status of southern European beaches, Montenegro invites and encourages investment elites to come to Montenegro and grants investors and family members citizenship, and does not require language qualifications and immigration supervision requirements.

Montenegro also encourages large-scale investment and development projects

The government will approve the list of development projects in the field of tourism based on the recommendations of the Ministry of Sustainable Development and Tourism.

Hotels and Resorts

  1. A 15 million euro tourism project in the coastal area or the capital Podgorica, employing at least 80 employees and at least 60 accommodation units
  2. Invest 5 million Euros in the northern or central region (except the capital Podgorica) with at least 25 employees and 35 accommodation units

Agriculture

  1. Invest at least 2 million euros in primary agricultural production and create at least 10 jobs

Wood

  1. Invest 4 million Euros and hire at least 20 employees

Fishing

  1. Invest at least 3.5 million Euros in fisheries and processed products and employ 20 people

The government will approve the list of development projects in the field of tourism based on the recommendations of the Ministry of Sustainable Development and Tourism.

[Hotel and Resort]

1. A 15 million euro tourism project in the coastal area or the capital Podgorica, employing at least 80 employees and at least 60 accommodation units
2. Invest 5 million euros in the northern or central region (except the capital Podgorica) with at least 25 employees and 35 accommodation units

[agriculture]

Invest at least 2 million euros in primary agricultural production and create at least 10 jobs

[timber processing]

Invest 4 million Euros and hire at least 20 employees

[Fishery]

Invest at least 3.5 million Euros in fisheries and processed products and employ 20 people