Residence permit in Montenegro when buying real estate or opening a company - Conditions and requirements Holders of a Montenegrin visa or foreigners entitled to a visa-free visit to a Balkan country can stay on Montenegrin land for no more than 90 days within an arbitrary six-month period. Therefore, if such a foreigner decides to spend more than 3 months in Montenegro within a six-month period, he will need to apply for a Montenegrin residence permit (called Privremeni Boravak in the local language), which allows foreigners to stay in Montenegro for a maximum of one year. A residence permit in Montenegro can be renewed annually, but only for one year. Its design is regulated by the Law on Immigration of Montenegro (Zakon o Strancima), which entered into force in February 2018, and which was amended in January 2019. The law provides for nearly a dozen or so grounds for obtaining a temporary residence permit (residence permit). The most popular are family reunification, training, yacht crew member or yacht owner status, business (business ownership and employment), and Montenegrin real estate ownership. Below is more detailed information on obtaining a residence permit for real estate in Montenegro and / or when opening a business in the country. Residence permit in Montenegro when buying real estate or opening a company - Conditions and requirements: residency for real estate in Montenegro It is important to mention that, unlike the immigration laws of many other European countries, Montenegrin profile legislation does not impose any restrictions on the value or size of real estate, the purchase of which is the basis for issuing a residence to a foreigner. That is, you can buy de jure any real estate in Montenegro in order to then obtain a residence permit in the country on this basis. When applying for a residence permit for real estate in Montenegro, it should be borne in mind that, as stated in the new edition of the relevant law, a residence permit when buying real estate can be obtained if the applicant's share of joint ownership is at least 1/2 (Article 56 of the Law) ... Is it possible to obtain a residence permit for real estate in Montenegro in the form of a piece of land? The answer is yes. But there is one "but". It should be warned that for the registration of Privremeni Boravak it is not enough to purchase only one plot of land. It will also be necessary to build a house there, which must subsequently be officially registered. Residence permit in Montenegro when buying real estate or opening a company - Conditions and requirements: business immigration Regarding business immigration, it should be emphasized that a foreigner who founded a company in Montenegro CANNOT get a residence permit just because he is the founder of a Montenegrin company. Montenegrin immigration law does not provide such an opportunity. Very often, foreign founders of Montenegrin companies hire themselves in their company as an executive director and receive a residence permit as an employee. Obtaining a residency permit when starting a business and / or employment involves registering your own firm for employment purposes as just a first step (or getting a job with a firm that will be willing to do it for you). You will also need to prove that you have a place to live in Montenegro (second step) - that is, your own or rented housing. If you live in your own house or apartment, you will need to present a document confirming ownership of the property in question (in Montenegrin, this document is called List Nepokretnosti), issued in your name. If you do not have your own home, you will need to rent an apartment and show the lease agreement to the authorities of the host country. You will need to show a current bank statement to prove that you have funds in your Montenegro bank account. Then you will need to contact the Montenegro Employment Bureau to obtain a work permit. Owning a company in Montenegro is also not an easy task - especially if the company does not make a profit and is registered only for the purpose of obtaining a residence for the owner and maintaining such a residence permit. Even a dormant company will require some attention and expense. It will be necessary to hire an accountant and pay monthly social security and health insurance contributions for all working staff. A rough calculation of the annual costs for a company with two employees (director and secretary) suggests an amount of € 1,900-2,000. The cost of registering a limited liability company in Montenegro is 550 euros (including legal fees and all associated legal costs). Please note that, as stated in the new edition of immigration legislation, you can obtain a residence permit in Montenegro by taking the position of executive director in several Montenegrin companies. Labor law The company regulates the details of such employment. For ordinary employees, not directors, nothing has changed. The new version of the law also states that foreigners over 67 years old can now obtain a residence permit in Montenegro as workers: an individual entrepreneur or an executive director. In the case of holding the position of an executive director, certain conditions will need to be met: a foreigner must not only be the executive director of his company, but also have a share in the authorized capital of at least 51%. Previously, employment of foreigners over 67 years old was not available due to restrictions in the Labor Law. Considering that the law "On Immigration" does not provide grounds for obtaining a "retirement" residence permit, this amendment is more or less a compromise. Residence permit in Montenegro when buying real estate or opening a company - Conditions and requirements: residency qualification and requirements of local authorities Another important detail is that in each city of Montenegro, local authorities impose their own additional requirements for the documents required to apply for a residence permit. You must also prove your ability to pay to the Montenegrin authorities. This means that your account in a Montenegrin bank must have 3,650 euros per person per year, which appears in an individual or collective application for a residence permit. In addition, you will need to pay a state fee for processing an application for a residence permit in Montenegro in the amount of 25 euros. It is important to remember that if you have a valid temporary residence permit, you can only be absent from Montenegro for one month a year. If you plan to leave for 90 days, you need to inform your immigration officer. Finally, the maximum time period for immigration officials to make a decision, positive or negative, on a foreigner's application for a residence permit in January 2019 was reduced from 20 to 15 days. Residence permit in Montenegro when buying real estate or opening a company - Procedures The process of obtaining a residence permit in Montenegro when buying real estate or starting a company, as a rule, includes 3 or 4 stages: Purchase of real estate and / or opening a company (the applicant can perform these actions independently or with the support of an immigration agent). Consulting with an immigration agent and collecting all documents. Applying for a temporary residence permit at the police station and receiving your Privremeni Boravak. Completion of all procedures for employment, registration with the tax authorities and the state health insurance system (except for Privremeni Boravak for property owners). The term for consideration of the application, as noted above, now takes no more than half a month. The whole process takes about 1.5 months. Usually, there are no problems with obtaining a temporary residence permit if your documents are prepared correctly. Residence permit in Montenegro when buying real estate or opening a company - Documents The documents that you need to take with you to apply for a residence permit in Montenegro based on the purchase of real estate and / or opening a company and employment in it are presented below: A valid passport or other identity document (for all persons involved in an individual or collective application, including children). Diploma or other relevant document confirming that the applicant and his dependents have an education (school, college, university diploma or academic degree). Certificate of no criminal record (from the country of origin or previous residence) - not older than six months; issued only for persons aged 16 and over. Marriage certificate - for the main applicant and his wife. Birth certificate - for children under the age of 18. Certificate of ownership of real estate (in the local language called List nepokretnosti) - to confirm the fact of ownership or lease of real estate in Montenegro. Bank statement confirming the solvency of the applicant and his dependents. Documents related to business immigration, such as medical insurance, corporate documentation, and so on, which will need to be prepared directly in Montenegro. Translation of all documents originally prepared in a foreign language must be performed in Montenegro by a translator licensed to carry out the relevant activities by local authorities. Also check if you need an apostille for your documents. If your country is a party to the Hague Apostille Convention and there are no additional bilateral agreements between your country and Montenegro, you will need an apostille. buying real estate or starting a company - From residence permit to citizenship After 5 years of holding a residence permit, a foreigner can apply for a permanent residence (the so-called Stalni Boravak), having fulfilled a number of conditions, including confirmation of knowledge of the local language (children under the age of 14 and adults over 65 are not required to provide a certificate of proficiency in the local language when applying for permanent residency). Permanent residence is issued for a five-year period, then another five years, and so on. Having received this document, a successful candidate is endowed with all the rights that indigenous Montenegrins have, except for the right to vote in elections. After he has lived in Montenegro for ten years, the foreigner can apply for Montenegrin citizenship (the so-called Državljanstvo). In this context, it is important to note that multiple citizenship is not prohibited in the country, so that Russians, Ukrainians or Belarusians can keep the passports of their home countries, having obtained Montenegrin citizenship by naturalization or otherwise. A foreigner can obtain Montenegrin citizenship by naturalization in accordance with the interests of Montenegro, if he meets the following conditions: 1) Has reached the age of 18; 2) Was in Montenegro legally and without interruption for most of each year for 10 years before applying for Montenegrin citizenship; 3) Has a guaranteed place of residence (own or rented housing in Montenegro) and a guaranteed constant source of income in Montenegro in an amount that ensures material and social well-being; 4) Has not been unconditionally sentenced in Montenegro or another state to imprisonment for more than one year and for a criminal offense; 5) speaks the Montenegrin language at a level that provides an opportunity for basic communication; 6) Does not pose a threat to the national security and defense of Montenegro; 7) Has no debt to tax authorities. The cost of living can be reduced. If a foreigner or a foreigner has been married to a Montenegrin citizen or a Montenegrin citizen, respectively, for at least 3 years, while possessing Montenegrin permanent residence, he or she can apply for Montenegrin citizenship. Residence permit in Montenegro when buying real estate or opening a company - What gives a residence permit The geographical position of the country is very favorable: it borders on the EU (Croatia), and is also located in the center of the Balkan Peninsula, which opens up wide opportunities for creating and expanding international business. An investor can very easily arrange a move to Montenegro for his whole family by opening a company in the country and / or buying real estate there. A renewable residence permit in Montenegro entitles you to live in this country, enjoy low tax rates compared to the EU / Russia and access the health services of the Balkan country. The cost of 1 m2 of housing in Montenegro is relatively low compared to the EU and other European countries. Having received a residence permit in Montenegro, a foreign citizen has the opportunity to register vehicles within the country, and his children can be admitted to state kindergartens and schools. Having received a residence permit in Montenegro, a foreigner can apply for a visa to visit other countries with a Montenegrin resident card at the relevant foreign embassies and consulates in Montenegro. The validity of the visa depends on the validity of the temporary residence permit in Montenegro. In this context, it is important to note that most embassies accept visa applications with a Montenegrin resident card after the resident has been in Montenegro for at least six months with the Privremeni Boravakf card in hand. Possession of a Montenegrin resident card allows you to apply for Montenegrin citizenship by naturalization, the value of which may increase significantly in the future if Montenegro joins the EU. So this option is great for those people who have patience and want to obtain citizenship of an EU country after a while without huge investments. Montenegrin citizens can travel to all EU / Schengen countries without a visa. It should be borne in mind that in the coming years the EU may also waive visa requirements when traveling to any Schengen country in relation to foreigners who have cards of residents of Montenegro. Residence permit in Montenegro when buying real estate or opening a company - Specialist help If you are planning to apply for a residence permit in Montenegro when buying real estate and / or open a company for this and start a process called business immigration to Montenegro, we recommend that you consider using the services of a local immigration agent. Please note that self-preparation of documents and going through all the procedures take a lot of time, and are also associated with almost inevitable mistakes that many beginners make, and long queues at various offices in Podgorica, Bar, Kotor, Cetinje. Our experts will be happy to help you with obtaining a residence permit in Montenegro, simplifying the purchase or rental of housing in the country, registration of a company in Montenegro in your name, received work permits and preparation of documents for applying for temporary residence. The cost of services is presented in the table below. Service type Price Residence permit when buying real estate 1500 EUR Residence permit when starting a company 2900 EUR Please email us for more information. In order to quickly receive the most detailed information about the registration of tax residence, as well as residence permit / permanent residence / citizenship of Montenegro, please contact all questions of interest directly to our specialists by e-mail
