Tax Appeal of Montenegrin Immigration

As the European Union tightens its investment migration programs across member states, obtaining EU citizenship directly through passport purchase is becoming increasingly difficult. Consequently, Montenegro, ranked as the top EU candidate country, has gained attention for its 2019 Citizenship by Investment (CBI) program. After all, compared to Turkey—which is more politically and religiously distant from the EU—Montenegro has a much higher likelihood of joining the union.

Montenegro is well aware of the value of its passport, and as such, its price is higher than Turkey's. Key highlights of the program include:

• A €100,000 donation to the government
• A local investment of €250,000 to €450,000 (depending on the specific investment location)
• Citizenship granted within 3-5 months
• No residency requirements

So, is Montenegro attractive from a tax perspective?