Marked an exciting milestone for Porto Montenegro, with the first successful application approvals of Montenegro’s Citizenship by Investment Programme (CBI) for homebuyers of hotel managed residences at the development’s newest neighbourhood, Boka Place. As qualifying applicants become Montenegrin citizens the race is on for investors to take advantage of this limited-time opportunity, with the close of the Montenegrin Citizenship by Investment programme scheduled for the end of 2021.
Interest in the programme has developed with a surge in enquires from investors located in all corners of the globe – buyers from the US, Russia and South Africa, to name a few, along with others interested in dual citizenship opportunities. As one of the fastest-growing tourism economies in the world and member of the NATO alliance, the guarantee of Montenegrin citizenship offers a safe and secure investment, with global access opportunities from the heart of the Mediterranean. The Montenegrin passport allows visa-free or visa on arrival access to 124 countries and with the country’s planned EU accession by 2025, holders will become eligible to a host of additional benefits.
South African native, Brennon Nicholas, Sales and Marketing Director at Porto Montenegro, comments:
“Living and working in this stunning country, the benefits are obvious to me – but I’m always interested to hear from our clients and investors about what motivated them to choose Montenegro. Several factors are almost always highlighted; the extremely low personal and corporate tax rates, capped at just 9%, the central-European location, the stability of the Euro currency and the outstanding natural beauty of this magnificent destination.”
He adds: “We were delighted to receive citizenship approvals for our first applicants and we expect a number of new approvals in the coming weeks. Interest in the programme has continued to increase, despite any time constraints.”
So far, applications have been reviewed within the pre-defined timelines, with a total processing time of up to 6 months and an average processing time of just 3 months. Applicants have enjoyed a transparent and comprehensive process from start to finish, with remote applications having been accommodated for many. The programme popularity has been proven by its demand, thanks to the added benefits of no relocation or language requirements, no citizenship interview and no need to renounce existing citizenship(s).
For those relocating with the entire family, Montenegro promises a safe, child- and family-friendly environment and inclusive community, with a wealth of natural and cultural treasures. Coupled with its spectacular scenery, Montenegro perfectly accommodates healthy and active lifestyles, whilst preserving its reputation as a trending destination for new businesses and entrepreneurs.
One proud new passport owner, O.S. from Russia, stated:
“Our family has had strong interest in Montenegro’s residency and citizenship programmes. We are incredibly pleased to have been offered the opportunity to obtain our passports and at the same time invest in one of the country’s most sought after developments. We have bought a larger unit in Boka Place to qualify as we trust that the new neighbourhood will be an exceptional place for living”.
Porto Montenegro’s new urban quarter is one of several government-approved projects and the first on the Southern coast of Montenegro. Built with wellness at the core, Boka Place is a neighbourhood unlike any other, surrounded by shops and cafes, open outdoor and community spaces and a variety of business opportunities. In addition, the development has been chosen as home for the world’s first SIRO – a new immersive lifestyle experience from Kerzner International, the innovators behind iconic entertainment resort destinations Atlantis Resort and Residences and ultra-luxury One&Only Resorts.
Boka Place’s SIRO hotel-managed residences offer a fresh perspective on affordable luxury living and an ideal opportunity for those looking to invest and enjoy the Porto Montenegro homeowner lifestyle. A total of 144 SIRO managed residences (mix of studios, 1-, 2- and 3- bedroom apartments, duplexes and penthouses) offer access to 5-star hotel service and a bespoke rental programme, with prices starting from just €190,000.
Located in the UNESCO protected Bay of Kotor, Porto Montenegro combines a spectacular lifestyle destination with a world-class full-service superyacht marina that can berth up to 450 yachts, and a luxury residential village, offering premium real estate for sale and rental in the central Mediterranean. Complementing the waterfront residences and impressive marina is an international retail and dining scene, with world-class gastronomy, elegant bars and bistros, and an array of sports, leisure and cultural amenities, bringing together established international brands and local businesses and giving the destination a year-round appeal.