Investing in property at one of the Mediterranean’s most sophisticated and buzzing marinas, Porto Montenegro, will not only provide you with an attractive ROI due to the Balkan country’s burgeoning tourism, but with it, Montenegrin citizenship and passport of a country that is set to join the EU by 2025.
One of 11 government-approved property investment options under Montenegro’s Citizenship by Investment programme, which launched a year ago, Boka Place is a new development of managed residences located in the prestigious luxury waterfront location of Porto Montenegro, the Mediterranean’s largest marina.
Since its inception in 2006, Porto Montenegro, which is a UNESCO protected area (Bay of Kotor) has grown to become one of eastern Europe’s most luxurious destinations, a yachting paradise and lifestyle destination with world-class full-service marina, is home to a multinational and multilingual community and to more than 400 built residential units.
And by investing €450,000 (the minimum investment threshold for property in the south of Montenegro under its CBI Programme) in a government-approved development project along with a €100,000 donation into a Montenegrin government development fund, foreign investors can secure citizenship of this small Balkan country for themselves and their family within just six months.
And the benefits of Montenegrin citizenship are vast, including visa-free access to 124 countries along with future EU membership (Montenegro is set to join the EU in 2025), low taxation, a business-friendly environment with just a 9% tax rate, investor-friendly economy and a convenient location (on the Adriatic coast). And should you choose to reside here, the benefits of this beautiful Balkan country only increase: an abundance of natural beauty, a growing GDP (4.9% in 2019), low cost of living, great healthcare and education systems and a surge both in tourism and subsequent property development.
“Montenegro provides outstanding lifestyle opportunities, safety, security, a solid healthcare and quality education to its residents,” says Brennon Nicholas, Sales and Marketing Director at Porto Montenegro. “Porto Montenegro presents an excellent investment opportunity within its diverse portfolio, offering a variety of pricing ranges and property types. With introduction of citizenship qualified real estate within our latest development, Boka Place, the list of benefits offered to our buyers is expanding.”
A development across five buildings and designed around a central square, Boka Place blends “the boundaries between fitness, wellness and hospitality through fresh perspectives and engaging experiences that elevate, epower and energise guests through holistically transformative spaces and experiences”, says management company Kerzner International, the global developer and operator of destination resorts, ultra-luxury hotels and residences, and innovative entertainment.
The various investment properties are built on a naturally elevated plateau, allowing for stunning panoramas across The Village, marina and to the picturesque waters of the bay beyond, while Porto Montenegro itself delivers a year-round event schedule.
Boka Place will feature a diverse selection of eateries, retailers and public spaces, as well as 213 managed and private residences, ranging from studios to private apartments to three-bedroom duplexes and penthouses, and will be home to the first SIRO 360 Vitality Hub, a new fitness-infused hotel concept.
Some 144 of the residences will have unlimited access to the state-of-the-art fitness amenities, a 20m retractable pool, infrared sauna, and food lab and juice bar, and all the apartments have been designed with wellbeing as a focal concept with all featuring large open spaces, built-in stretching and exercise units, air purifiers, ergonomically designed furnishings and sustainably neutral materials.
The managed element also provides convenient property management and rental services, which suit second homeowners and economic passport investors, while the locations of Boka Place, just 4km from Tivat Airport, which operates several flights daily to major European cities, makes it the perfect investment citizenship property.
“Buying a managed residence at Boka Place gives the rare and exciting chance to participate in the scheme and gain Montenegrin citizenship,” explains David Margason, GM of Porto Montenegro. “The Montenegrin passport allows free movement across 124 countries and with the country’s planned EU accession by 2025, the holder is eligible to a host of additional benefits.”
Montenegro Citizenship by Investment
Montenegro has seen a surge of both interest and applications for its CBI Programme during the pandemic, with applications showing a 142% spike in the first quarter of 2020, compared with the fourth quarter of 2019.
With an application processing time of around three months, and a passport ranked 44th worldwide (up two places in Q4 2020 than Q1) giving visa-free access to 124 countries, including Russia, the EU and Turkey, the Montenegrin CBI Programme is set to run in its current form only until December 31, 2021, with a citizen cap at 2,000 investors and family members.
There are a list of 11 approved real estate options include properties both in the northern and southern parts of the country ensuring that potential CBI investors are well catered for, as the CIP requires investors to acquire property worth a minimum of €250,000 if located in a less developed area of the country, such as the northern region, and a minimum of €450,000 if in a more developed region, such as the capital, Podgorica, and beach resort areas like Porto Montenegro.
For more information about Montenegro and its CBI Programme, read our country profile by clicking here