Montenegro has been using the Euro currency since 2001 and the economic growth declared to be an average of 3.4% since 2004. With many investment opportunities, Montenegro has an income tax rate of 9% and offers low rate advantages for new investing companies. Also, the same rights and terms are applied for companies held by Montenegro citizens and for foreign-held companies. Tourism and real estate are in the top industries and have indicated a large development drawing around 3.5 billion Euros to the economy in recent years.
In Schengen countries, there are minimum investment amounts in real estate in order to get a residence permit. The most affordable investment amount to get a residence permit in one of the Schengen countries is currently €250,000. As the closest candidate to the EU, Montenegro provides the opportunity of getting a residence permit without a minimum investment limit. Also in 2018 the Citizenship by Investment Scheme was enabled. The benefits of this program is the possibility of obtaining citizenship in Montenegro in no more than 6 months, the applicant can bring other 4 family members with them, and it is also one of the cheapest citizenship by investment programs in Europe.
In 2014, Montenegro recorded a total of 1.3 million tourists that visited the country. With a mild Mediterranean climate, the country has 240 sunny days each year. This is one of the reasons why the World Travel and Tourism Council predicted that investment in Montenegro in the field of tourism is going to be very profitable in the coming years.
REAL ESTATE MARKET
The Montenegrin coast is recognized as the most attractive part of the country for investment because of its position, natural beauty and potential. The most important cause of growth in real estate prices on the Montenegrin coast is the inflow of foreign direct investment in this sector, and non-residents’ demand for large homes on the Montenegrin coast. In the past 3 years Montenegro has been profiled as a country that ranks among the top five tourist destinations, from the standpoint of fastest growing markets.
The central location of Montenegro enables the country to be reached within 1-2 hours flight from most European cities, it also accesses the perfect sea routes to get connected with the rest of the world. Besides the accessibility comfort, the location also allows the country to have a very appealing landscape full of stunning views such as the sea, mountains, lakes, islands and canyons.
LIVING AND INVESTING IN MONTENEGRO
Montenegro became an independent state in 2006. Since then, its government has molded it for economic growth, employment, and export of goods and services. This is a big reason why you should invest in Montenegro. The government also recognizes the areas for economic growth that need improvement. Foreign investors who wish to open a company in Montenegro, can benefit from the policy according to which there is no difference in the treatment of foreign and domestic corporations. This means that they can repatriate their profits without any limitation or restriction.