Investment and Finance

The Best Four Investments for Montenegro's CBI Program

5/5/2021 8:00:00 AM
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In 2019 the Montenegrin government kicked the table of European citizenship-by-investment programs with an investment opportunity of a level that we don't see very often in other jurisdictions. Montenegro opened the possibility to invest in real estate and obtain a European passport for outrageously low prices and with a set of interesting benefits and advantages. But there's a catch: the opportunity would only be available for three years, and only for the first 2000 applicants. 

Investor interest started to rise and only a handful of legal teams in the world were authorized to process applications within the program. And we, at Mundo, are part of that select group through our Montegrin partners. 

Fast forward two years, and today the reality is that the Montenegrin CBI program is one of the most coveted in Europe. With only nine months to go, it is still possible for you and your family to get a Montenegrin passport, but only if you act fast. The program will be closed to new applications since December 2021. 

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Why invest in Montenegro? 

Spread along the Adriatic Sea coast, in the middle of one of the most beautiful places on the planet, you will find Montenegro. A small but very remarkable Balkan country that went from being known for its coasts, its landscapes, and its wonderful history; to be on the investors' lips because of its new profile as one of the best jurisdictions to invest and live in Europe. 

One can easily underestimate a country as small as Montenegro, but one would be wrong. This Balkan paradise managed to become a tourism mecca in Eastern Europe for visitors worldwide at all times of the year. Because it is a top tourist destination, we can add two other reasons why any sensible investor realizes that investing in Montenegro is one of the best options available in Europe.

The first one is that Montenegro has more than a privileged location in Europe, and this is combined with a very favorable political and business climate for investment. Here comes into play the simplicity with which the Montenegrin tax system works and the pro-business stance of its government, which has remained stable for a long time regardless of who is in power.

The other main reason why participating in the Montenegrin CBI program is so attractive to investors from around the world is that Montenegro has a bilateral treaty with the United States that allows its citizens to obtain an E-2 visa to do business on U.S. soil without going through the very long waits of ordinary business visas. The E-2 visa process can take up to 9 months (depending on certain conditions), while the EB-5 visa process takes years. 

To sum up, we have a passport 1) in a tourist paradise that has a CBI program giving you access to over 120 countries without a visa; 2) in a country that is set to join the European Union in 2025; 3) in a top-notch business, political and fiscal climate; 4) in a nation that can potentially allow you to do business in the United States. It is an offer that you can´t decline.

Montenegrin CBI program, one of the fastest in the world 

Montenegrin bureaucratic simplicity is not limited to its fiscal and economic policies but is also present in its citizenship by investment program. With an initial amount of 350,000 euros, this is one of the most attractive programs on the entire European continent. 


In a nutshell, these are the options for participating in the program: 

  • 100,000 euros in the form of a Government Fund Donation and, 
  • 250, 000 euros investment in approved real estate assets in a developing region (north of the country), or 
  • Investment of 450,000 euros in approved real estate assets in a developed region (south of the country). 


In addition to that, the main applicant must pay a fee of 15,000 euros to the Montenegrin government. And, if additional individuals are included in the application, each one will involve the payment of a €10,000 fee up to a maximum of four additional applicants. From the fifth additional applicant, the fee will be 50,000 euros. 

The Montenegrin CBI program's main attraction is that the application process generally takes just over six months to be approved, which is a rarity in citizenship-by-investment programs in Europe, let alone considering Montenegrin entry fees. 

You can read more about the process for applying to the Montenegrin CBI program here

Now that we know the Montenegrin CBI program basics, let's talk about business and the best Montenegrin real estate investment opportunities. 

Do you have questions? 

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The four best real estate investments in Montenegro 

The first thing you should know about the Montenegrin real estate market is that it is an anomaly within Europe (in a good way). While in central Europe, there is a combination of absurdly high prices, lots of supply, and little demand; this does not happen in Montenegro. This country is one of the few in Europe where real estate prices are not astronomically high and where it is possible to obtain a high ROI from properties. 

This is practically due to the Montenegrin government’s economic openness, its tax incentives, and, of course, the booming tourism sector. Talking a bit more about Montenegro's tourism boom, you have to know that this is one of the main factors that contributed to the creation of Montenegro's CBI program, and today the program's real estate projects are, for the most part, related to luxury tourism in the country. 

The range of options for investing in Montenegro is for everyone: you can invest in major cities, luxury villas located in front of the Adriatic Sea, or you can try the luxurious mountain resorts in the north of the country. 

Not only is Montenegro's present bright, but its future is bright as well. Despite the challenges faced by global tourism due to the coronavirus pandemic, projections for Montenegrin tourism activity remain positive. This is news of relief for current investors but a sign of attention for those yet to invest in the country, because with stronger tourism activity come higher prices. That is why the time to take advantage of Montenegrin real estate prices is now. 

The four best opportunities to invest in real estate with the Montenegrin CBI program are in the country's northern mountains. Let's take a look at them. 


5-star resort complex in the Kolasin Mountains 

This is one of the most important real estate projects in all Montenegro. This imposing complex consists of 238 suites, 25 of which exude luxury of an excellent level. This project is destined to be one of the most important tourist complexes in the region. A 2.5 million euro guarantee protects the investment in this project. Such is the confidence in the group responsible for this real estate development.

Of course, there are more than just luxury units. This complex will also have restaurants, an indoor cinema with a capacity for 72 people, a pub, indoor and outdoor swimming pools, a children's club, a conference room with a capacity for 400 people, and a fully equipped ski slope. 

The best thing about this megaproject? The price of admission. Securing property in this resort is possible from 250,000 euros. This is what we meant when we mentioned the wonderful prices in Montenegro. 

Here are the details of the investment: 

  • Price: 250,000 euros. 
  • Type: investment in hotel suites (suites from 30m2 to 45m2, sales model - first come, first served). 
  • Type of property: 1/1 property. 
  • Lease agreement: Yes, mandatory. 
  • Use of the unit: 3 weeks per year + 1 week of use of another 5-star hotel. 
  • Use of the unit before the project is ready: 7 days in another 5-star hotel. 
  • Potential return: 40% of rental fund profit/year. 
  • Expenses: No regular maintenance fees, no taxes, no insurance to pay, no fee for owner's use of unit-Reserve Fund: 10% of owner's remuneration. 
  • Delivery date: September 30, 2024. 
  • Minimum ownership: 5 years. 
  • Seller's pre-purchase rights: Yes. 
  • Repurchase: Optional after five years. 

Ask about this project here

Investment in Europe's most famous ski resort 

Another unmissable investment opportunity in Montenegro is on Bjelasica Mountain. At 1450 meters above sea level, this is the most important ski resort in Montenegro (and practically in Europe). This project shines in winter tourism for its numerous ski routes of different levels, but it is also visited during other seasons of the year for its incredible mountain tourism options. 

The project is spread over three acres of alpine forest and offers 168 units that you can invest in right now. 


Investment details: 

  • Prices starting at 250,000 euros.
  • Type: Hotel units. 
  • Sales model: first-come, first-served. 
  • Unit usage: 2 months/year. 
  • Return on investment: 30% of rental fund profit/year. 
  • Expenses: maintenance costs of 50 EUR/m2 of the Condominium Unit/year.
  • Seller's pre-purchase rights: Yes. 

Ask about this project here


5-star hotel in Kolasin 

Kolasin is one of the most important parts of Montenegro, and here is also our third option for investing in Montenegrin real estate and accessing an advantageous passport. We are talking about a luxury hotel development integrated with a sophisticated spa for tourists with higher tastes. One of the differentials of this project is that you become the sole owner of the unit you buy at all levels of investment. 

This five-star hotel’s investment scheme is quite attractive: investors receive 40% of the net income from renting units. The remaining 60% corresponds to the management group of the complex. 

Here are the details: 

  • Investment: 250,000 euros. 
  • Type: Hotel units (rooms from 25m2 to 50m2). 
  • Type of ownership: 1/1 ownership. 
  • Rental contract: Yes, mandatory. 
  • Use of unit: 1 month /year. 

-15 days in season (December 15 - March 15, June 15 - September 15). 

-15 days out of season. 

  • Potential profitability: 40% of gross rental income (minus repair and renovation costs: 1-4%). 
  • Expenses: 50 euros/m2 of the unit on an annual basis, deductible from gross rental income. 
  • Owner's occupancy period contribution: €10 per square meter per day. 
  • Owner's exit cleaning fee: 100 euros per service. 
  • Delivery date: September 31, 2022. 
  • Minimum time of ownership: 5 years. 
  • Repurchase option: No. 
  • Seller's pre-purchase rights: Yes.

Ask about this project here


4-star hotel in northern Montenegro 

This was the real estate project that inaugurated the Montenegrin CBI program in 2019 and has since become a favorite of foreign investors. The project, once completed, will have 380 beds and an estimated value of over €11 million. This hotel will also lack nothing of what its older siblings will have. The facilities will have a modern buffet and several restaurants, a bar with a terrace, and a lounge for private events in the hotel's upper part. 

Here are the details of the investment: 

  • Investment: 250,000 euros. 
  • Property Type: Hotel units. 
  • Type of ownership: 1/240 (co-ownership). 
  • Lease agreement: Yes, mandatory. 
  • Potential return: 30% profit sharing. 
  • Delivery date: November 1, 2022. 
  • Minimum time of ownership: 5 years. 
  • Repurchase option: after five years, for an amount of 200,000 euros (not mandatory). 
  • Seller's pre-purchase rights: Yes. 

Ask for information about this project here


Who are we and what can we do for you? 

Mundo started working hand in hand with a prestigious immigration and financial services firm with almost 30 years of experience. Thus, with our best partner and sponsor, we help high-net-worth investors and individuals around the world find the best investment opportunities to maximize their wealth.

The work we have done has yielded fantastic results. Not only do we now have a network of experts in every major jurisdiction in the world, but we also have one of the few legal teams that are authorized to help investors participate in Montenegro's CBI program. Our Montenegrin experts can help you invest in Montenegro's strong real estate market and get a passport that practically pays for itself. But remember that there is little time left to take advantage of this opportunity as the program will be closed for applications since 31 December 2021.

If you would like to take advantage of one of our investment opportunities in Montenegro, contact our team now. You will be able to meet the experts who will help you through the whole process.

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