(Tuesday, 13th November 2018)
by Bojana Minic
investment consultant and founder of Lifestyle Montenegro
The tiny Mediterranean country, settled between the borders of other ex Yugoslavia member states, is in a spotlight for a rapid and sustainable growth.
The beautiful blend of stunning mountains and clear sea with a combination of average 240 sunny days per year makes this destination attractive for tourists, investors and global citizens.
Since 2006, when the country gained independence, the nation has prospered, and today Montenegro is an EU candidate country and has just recently joined NATO as its 29th member state.
The development of some large investment projects, which have varied in size from €400m to €1.1 billion, has made financial involvement in Montenegro of keen interest to the media and many other various stakeholders.
Its wild beauty and unique position are not the only elements that make this destination attractive. The political scene has greatly improved in the last few years, and greatly adds to the overall stability, economic growth, security, legacy and quality of living.
For the business and investors, corporate tax rates of just 9% show the positive investment climate. Furthermore, for those interested, property tax is between 0.01% – 1% while real estate transfer tax amounts to 3%.
Another important factor for choosing Montenegro as a new or second home, are the recent infrastructure developments. Across this sector, the country has marked an incredible progress. From the motorway development, in total worth €1.1 billion, to the new submarine power cable between Montenegro and Italy. Montenegro has improved it all.
Since its independence, many investors from diverse countries have chosen Montenegro as their second home. This fact has inspired the Government of Montenegro and its leaders, to create a unique citizenship by investment programme. The programme itself was announced in August this year and is expected to begin in October.
Passport holders will definitely enjoy the benefits of citizenship, by being granted an entrance to 117 visa-free countries and it will make them feel and become true global citizens in their new home called Montenegro.