Residence permit in Montenegro through business

Description

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Program details

Foreign nationals, owning a business in Montenegro, are entitled to a residence permit, if they own 10% of the share capital of the company. In this case, the mandatory conditions are holding the position of the head of the company, the timely submission of financial reports on the activities of the company and payment of taxes stipulated by local legislation. The residence permit granted to entrepreneurs is valid for one year - after this period, the foreigner has the right to extend their immigration status.

Advantages of the program

Opportunity to get an official job in Montenegro

The prospects associated with the country's accession to the EU by 2025

The right to move to the country with your spouse and children under 18 years of age

Access to free public education and health care

The opportunity to get preferential tuition at an internationally accredited higher education institution

Low income tax at the rate of 19% and VAT at 19%

Requirements for applicants

Ownership of at least 10% of the share capital of a company registered in Montenegro;

employment in their own company as a manager;

availability of corporate account in a bank of Montenegro;

no criminal record;

personal account in a bank with at least 3 650 EUR of subsistence funds;

positive reputation and visa history;

purchase or long-term lease of a home in Montenegro;

high school diploma or diploma of higher education.

Documents required to obtain a residence permit

Valid international passport;

company's articles of incorporation, articles of association and tax declarations in Montenegro;

high school or higher education diploma with apostille or nostrification (official confirmation from the institution that issued the document);

birth and marriage certificates;

proof of ownership or long-term rental housing;

insurance policy with the period of validity of 30 days and more;

certificate of no criminal record with an apostille;

reference from the police about the registration of the place of residence.

The procedure for obtaining a residence permit in Montenegro through business

1.Preparation of documentsThe applicant gathers a package of documents, which are necessary for establishing a company in Montenegro. These include a certificate of no criminal record, certificate or diploma with apostille, application for company registration (Jedinstvena registraciona prijava), in which you must indicate the company name, type(s) of business activity, Montenegrin residence address and other contact information.

2.Company registrationIn order to register a company in Montenegro, you need to submit a package of documents to the Central Register of Commercial Court. This can be done directly on site or remotely. In the latter case, the applicant will need to make a power of attorney to a licensed local lawyer who will represent them. The company registration procedure takes from 5 to 10 days.

3.Opening a bank accountAfter registering a company, the applicant needs to open a corporate account in a Montenegrin bank for their company - this will take 1-2 business days.

4.Getting a residence permitAfter becoming the owner of a Montenegrin company, a foreigner personally applies for a residence permit to the police immigration department in the place of residence in the country. After 10-20 days, the candidate receives notification of the results of consideration of their application. If the application is approved, the applicant is fingerprinted and receives a residency card.

5.Extension of immigration statusIn order to maintain their residence permit in Montenegro, the business owner must, immediately after receiving a residence card, register with the Department of Labor and open a personal account in a local bank to prove their ability to pay for their expenses. When the residence permit expires, the foreigner can extend it by contacting the migration service.

Permanent residency and citizenship of Montenegro

After 5 years of legal residence in Montenegro, an entrepreneur can apply for permanent residency. Permanent residency status is granted to citizens of other countries for 5 years with the right to extension.

Foreigners have the right to apply for Montenegrin citizenship in the following cases:

By naturalization, after 10 years of continuous legal residence in the country. When applying, the applicant must document that he/she has permanently resided in Montenegro, as well as renounce his/her current citizenship. Applicant's candidacy is considered and a decision on their application is made by the representatives of the Office of the Ministry of Interior.

On the basis of investment in the country's economy. To obtain the citizenship the foreigner must buy real estate from the fund approved by the government in the amount of 250 000 EUR and donate to the state budget in the amount of 100 000 EUR. Decision on granting of Montenegrin citizenship to a foreign investor is made by the President of the country, the Chairman of the Parliament or the Prime Minister.

Apply for a residence permit in a country on the Adriatic coast