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The Fastest and Most Inexpensive Way to Get European Citizenship

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In 2021, the Montenegrin Citizenship by Investment program has no competitors left in Europe. The citizenship program of Cyprus is suspended, the program of Malta now takes at least 16 months, and other countries offer investors only a residence permit. Only in Montenegro you can get citizenship for the whole family in 3-6 months.

In 2021, the Montenegrin Citizenship by Investment program has no competitors left in Europe. The citizenship program of Cyprus is suspended, the progrm of Malta now takes at least 16 months, and other countries offer investors only a residence permit. Only in Montenegro you can get citizenship for the whole family in 3-6 months.

Costs, Terms, Limits. The Conditions of the CIB program

The state Citizenship by Investment program functions since 2019. When the authorities of Montenegro announced the start of the project, they immediately warned: there will be quotas. The program is designed for three years, only 2000 investors will be able to get passports for it.

This year, 2021 – is the last one. You can apply until December 31. Perhaps the program will be extended, but there are no guarantees. As experience has shown, such initiatives end up with stricter conditions.

Right now there are two streams in the program: the southern and northern ones. The main difference is in the amounts a foreigner must invest in order to qualify for the citizenship program of Montenegro.

The Southern Stream: the coast and capital city The Northern Stream: mountainous and central regions
€450,000 of investment in government approved development projects in tourism and real estate
+
€100,000 of investment to the state fund for support of developing regions (non-refundable contribution)
€250,000 of investment in government approved development projects in tourism and real estate
+
€100,000 of investment to the state fund for support of developing regions (non-refundable contribution)

As you can see, the volume of investment in the northern regions is significantly lower. Here it is enough to invest €350,000, and in 3-6 months you and your family receive passports of Montenegro. This is the most accessible and fastest way to the European citizenship at the moment. 

An important feature of the Montenegrin program: not any realty object is suitable for an investment, but only the accredited ones by the government. How are they chosen? The developer submits an application, and the state commission checks the project, how much investment it will attract, how many jobs it will create, how it will affect the image and economy of the region, etc. In fact, the state conducts Due Diligence of the project. The best ones are given accreditation.

Svetlana Thomson
Head of Representative Office in Russia and the CIS

Our project is the 5-star Montis Hotel in Kolašin. It was authorized in the Citizenship by Investment program in September 2020. The checking was strict: the authorities analyzed both the complex and the developer, which is a company that has been working in Montenegro for many years. Previously we have beeen working at the coast line, and now we entered the mountainous regions.

There was a new condition for developers that has appeared during the process: we were required to guarantee that the deadlines would not be delayed, that we would be able to implement the project in accordance with the stated plan. The guarantee was a bank deposit of €2.5 million, which was assigned by the state. The supervision continues even now, the authorities are monitoring the progress. If we run out of schedule, this money will be withheld.

The Northern Stream How the Government of Montenegro Develops Ski Resorts

15 projects are accredited in the Montenegrin Citizenship by Investment program. 4 are located on the coast, 11 are in the northern regions of the country, and 7 of them are in the ski resort of Kolašin.

Such attention to little Kolašin is understandable. This is what the government relies on in its strategy to support developing regions.

Kolašin is a mountain town (954 m above sea level), located near the national park Biogradska gora and 70 kilometers from the capital city of Montenegro. Less than five thousand people live here permanently, and ten times as many come every year.

From November to May, guests can go skiing. There are two ski resorts combined in a single system – Kolašin-1450 and Kolašin-1600. The last one was opened just a couple of years ago. In summer, they go hiking, relax by mountain lakes, rafting on the Tara River… In short, they enjoy nature.

Today Kolašin is the most popular Montenegrin mountain resort. There is already a shortage of quality hotels here. This problem should be solved by the citizenship program. Most of the projects accredited in it are 4-star hotels. Two 5-star resort complexes, including Montis Mountain Resort, will be built soon.

The state relies not only on the money of foreign investors, but also actively invests in the northern regions. According to Miloš Popović, director of the DOO "Skijališta Crne Gore" (a state-owned company created to promote ski resorts), only from 2019 to 2022, €140 million will be spent on tourist infrastructure. For this money, new lifts are being built, trails are being expanded (46 km of trails are already available in Kolašin, another 15 km will be laid by the end of 2021), schools for skiers are being opened, equipment rental points are being opened… Right now, the promenade is being completed in Kolašin.

But the main initiative that is expected to lead to a surge in the number of tourists in Kolašin is the Bar-Boljare-Belgrade autobahn. The most significant infrastructure project in the country, without exaggeration, is the construction of the century-a high-speed highway that will connect the hard-to-reach mountain regions with the coast and the two capital cities of Serbia and Montenegro. The section from Podgorica to Kolašin should be completed in the autumn of 2021.

Montenegro
Svetlana Thomson
Head of Representative Office in Russia and the CIS

I returned from Kolašin in January. The nature there is amazing! A huge amount of snow this year. There are many tourists even on weekdays, both young people and families with children. There are trails for everyone. It's a pity that I didn't manage to ride myself , too many business meetings.

But I've checked at how the resort is being developed. The promenade along the Tara River, which will connect the Montis Hotel to the city center, is already being completed. The construction of the autobahn is also underway. Now the road from Podgorica to Kolašin along the mountain serpentines takes about 1.5 hours, and after the opening of the highway, you can get there in 30 minutes. The difference is notable.

MONTIS MOUNTAIN RESORT

The Project Accredited to Participate in the Citizenship Program

In early 2000s, 95% of tourists were visiting Montenegro only in the summer. Developing a strategy of the hospitality sector, the government decided to change this trend and maximize the use natural potential for year-round recreation.

Everything that has been done in recent years has brought this goal closer: the construction of roads, investments in infrastructure, the involvement of developers in the construction of high-quality complexes in mountain regions, the "Citizenship by Investment" program.

Montis Mountain Resort is a prime example of a modern year-round resort. It will start with a central building, which is a 5-star condo hotel with 238 rooms. There also will be a business center with a conference hall for 400 seats and two meeting rooms for corporate events.

The resort will open a 3D cinema (72 seats), a restaurant with a pub (120 seats), a grand SPA center (an area of 1 075 sq.m) swimming pools for adults and children, baths and saunas, salt caves, ice water barrels, treatment rooms, a gym. Various sports activities are planned on the territory, such as a football field, volleyball and basketball courts, bowling. All this infrastructure will work not only for the residents of the hotel, but also for other guests of Kolašin.

The project is accredited in the Citizenship by Investment program in 2020. Completion of construction – 2024.

The developer, even at the first stage of construction, thought about who would monitor the hotel, attract tourists and provide income to the owners of the rooms. And signed a contract with the 'Splendid' brand a company that successfully manages the first 5-star hotel in Montenegro, the Splendid Conference and SPA Resort.

Svetlana Thomson
Head of Representative Office in Russia and the CIS

For a long time, this hotel on the Budva Riviera was the only 5-star hotel in the country, now there are others, but the Splendid Resort is still the signature line of Montenegro, the largest and most famous one on the coast. They have a huge loyal audience, world-class stars rested here, even former US President Bill Clinton stayed there.

From the very beginning of the development of the Montis Mountain Resort project in Kolašin, we wanted to attract such a strategic partner as the Splendid Hotel Group. And so, we signed a contract with them. Now we can promise our investors a quick exit to good profitability indicators. Under the terms of the rental program, the owners will receive 40% of the net profit from the room and the associated infrastructure of the hotel.

Montis Resort
Rade Vukovic
Executive Partner

We have chose Splendid, i.e. the Montenegro Stars Group, as the operator of the future hotel. The key role was played by the accumulated experience of managing the largest 5-star hotel in Montenegro, Splendid (Budva), and its established reputation.

Together with Montenegro Stars, we have already announced our goal to create a unique offer for future tourists in the form of a combined holiday on the coast and in the mountains. That is, "package" co-accommodation at the Splendid Hotel in Budva and Montis Mountain Resort in Kolašin.

Income, Leisure, Property. What the 5-star Montis Hotel Offers to Investors

An important feature of the Montis Mountain Resort is that the investor buys a room here in private ownership. Not all projects participating in the "Citizenship by Investment" program make out transactions in this way. In many cases, a foreigner becomes the owner of a share in a hotel, and receives a certificate of ownership of real estate like for a regular apartment.

But private property in the hotel is limited by the terms of the rental program. The owner, for example, will not be able to independently furnish the room with furniture: a universal design has been developed according to the standards of a 5-star hotel, finishing is already included in the price. Also, the owner will not need to rent out the property, these issues will be handled by the Splendid Group, investors will simply receive income.

You will not be able to use a hotel room for permanent residence either. After the completion of the complex (2024), the owner will be able to relax there for free for 1 month a year, and for the period of construction, and 1 week of vacations at the Splendid Hotel every year.

Svetlana Thomson
Head of Representative Office in Russia and the CIS

This is a resort property. None of our customers are going to live there, but everyone is asking about the profitability. In this context, it is also important to take into account the annual costs. We don't have them! Montis Mountain Resort is the only complex in the "Citizenship by Investment" program that offers rooms in private ownership and does not charge the owners for the maintenance of the property. As a rule, these costs are €50 per sq.m per year, i.e. about €1,500-2,500, depending on the size of the room. This amount can be immediately taken into account in the income. Plus, you don't have to control the payment of the next receipt.

The conditions for the return of capital are also important for investors. According to the contract, after five years, the property can be sold. The developer does not commit to a repurchase, but of course we will be the first to know about the transaction. The investor will be able to choose the price offered by us or to sell the object on the open market.

I think if we reach the planned profitability indicators by then, then the owners will not want to sell real estate that makes a profit every year. And the opportunity to relax in the mountains for one month a year for free is a nice addition.

The Montis Mountain Resort has developed four types of rooms. The investor can choose a specific number on the plan in any building among those that are still available.

Montis Mountain Resort
Suit type Floor space Price Conditions for obtaining citizenship
Junior Suite 33,5 sq.m €250,000 One investor + dependent family members
Splendid Suite 43,49 sq.m €250,000 One investor + dependent family members
Executive Suite 72,26 sq.m €500,000 Two investors + dependent family members
(for ex., a large family or for two friendly families)
Presidential Suite 85,86 sq.m €500,000 Two investors + dependent family members
(for ex., a large family or for two friendly families)
Svetlana Thomson
Head of Representative Office in Russia and the CIS

The pricing policy in the complex is designed specifically for the citizenship program, so that the buyer of any room can apply for a passport. First of all, rooms with a larger area and better views of the mountains are dismantled. About 30% of the suites are already booked.

In general, in 2021, an unprecedented activity began due to a complex of factors. On the one hand, the Cyprus program was closed, and the conditions in Malta were tightened. On the other hand, the Montenegrin program may also close at the end of the year, or even earlier, due to limitation. Therefore, everyone who expected to get European citizenship through investment is now in a hurry.

 Summing up. What's Interesting About the Montis Hotel

1. The highest category. There are only two 5-star hotels in Kolašin, and three in the north (including Kolašin). The remaining projects included in the citizenship program are 4–star projects.

2. The hotel will be managed by a well-known hotel brand Splendid, which guarantees high attendance and quick access to good profitability indicators.

3. The investor gets a room in the property, not a share in the hotel, which makes it easier to sell the property after five years.

4. The investor receives 40% of the hotel's net profit. The profit is calculated at the end of the year for the room and from the use of all the infrastructure: spa, gym, restaurants, cinema, etc.

5. No room maintenance fees at all. This means that you can save €1.5-2.5 thousand every year.

6. The investor receives a free stay at the Montis Mountain Resort by Splendid - 1 month per year. And, while the construction of the hotel is underway, 1 week of free accommodation in the hotel Splendid Conference and SPA Resort 5* in the south of Montenegro.

7. The investor receives a loyalty card that gives them a discount on the use of the entire infrastructure of the Montis Mountain Resort hotel, as well as on accommodation and use of the infrastructure of the Splendid Conference and SPA Resort Hotel.

8. Due to its location (popular ski resort + national biosphere reserve), the hotel will be open all year round, which will undoubtedly affect its profitability.

9. The developer of the project has a bank guarantee of €2.5 million as a guarantee that the project will be completed in full and on time.

10. The purchase of any room in this hotel gives you the right to apply for citizenship of Montenegro, which will be issued in 3-6 months.

Quoting conditions of Prian.info materials

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