US Tech Innovators Choose Montenegro Citizenship by Investment Program for Domicile Diversification
LONDON, Oct. 19, 2021 /PRNewswire/ — Henley & Partners is reporting a sharp rise in interest in the Montenegro Citizenship by Investment Program, with a flood of applications from dynamic, successful US citizens, most of whom are high-powered Generation Xers. The leading international residence and citizenship advisory firm is one of only three government appointed marketing agents for Montenegro’s highly sought-after citizenship program, which is due to close at the end of this year.
Rade Ljumović, Managing Partner at Henley & Partners in Montenegro, says high-net-worth investors are drawn to Montenegro for multiple reasons. “Over and above the mild Mediterranean climate and abundant beauty, investors see significant opportunities in Montenegro — one of the fastest-growing Balkan economies. We are receiving applications from leading US innovators in the tech sphere, whose real estate investment is just the start — all are fully aware that Montenegro is focused on boosting digital innovation. There are no restrictions on foreign ownership and Montenegro offers one of Europe’s most favorable tax regimes. In addition to all the usual benefits of an additional citizenship, the property boom means that investors are likely to see excellent returns on their real estate investment.”
US citizens are aware of growing need for diversifying their citizenship portfolios, says Mehdi Kadiri, Managing Partner and Head of North America at Henley & Partners. “The shock waves of Covid-19-driven volatility throughout 2021 have seen more entrepreneurs building diversified domicile portfolios through investing in residence and citizenship by investment programs, such as Montenegro’s attractive offering. The primary aim is to overcome the limitations and associated risks of being restricted to a single jurisdiction. With its ease of access to major EU metropolises, investors see Montenegro as an ideal, well-priced gateway to Europe and the associated networking and business opportunities throughout the region.”
Applicants to the Montenegro Citizenship-by-Investment Program need to make a minimum financial contribution of EUR 350,000 (investment of EUR 250,000 and a donation of EUR 100,000 to the country), and in exchange, and subject to a stringent vetting and due diligence process including thorough background checks, they and their families are granted Montenegrin citizenship within three to five months.
Montenegro’s passport consistently ranks in the top 50 worldwide. Currently it sits in 48th position on the Henley Passport Index, with its holders enjoying visa-free or visa-on-arrival access to 123 destinations worldwide, including the countries in Europe’s Schengen Area as well as Hong Kong, Russia, Singapore, Turkey, and the UAE. In addition to being a NATO member, Montenegro is a recognized candidate for future membership of the EU, with the government’s chief negotiator, Zorka Kordić, recently giving 2024 as the target timeline for Montenegrin accession.