MONTENEGRO ANNOUNCES THE EXTENSION OF THEIR CITIZENSHIP

The Government of Montenegro has confirmed that it will be extending the deadline for the Citizenship By Investment (CBI) scheme until 31stDecember this year – making 2022 the perfect time to purchase a home in Porto Montenegro, the Mediterranean’s leading luxury marina village.

Porto Montenegro offers a rare and exciting opportunity to invest in the limited number of remaining hotel-managed residences in their latest urban village, Boka Place.

With 295km of beautiful coastline and over 280 days of sunshine, Montenegro is renowned for its unspoiled beauty, boasting four World Heritage sites, including the Bay of Kotor, the largest freshwater lake in Europe and pristine mountains for skiing. The country’sCBI programmegives buyers the opportunity to make a legacy propertyinvestment in Porto Montenegro’s new urban neighbourhood Boka Place, which features SIRO, a new immersive lifestyle experience from industry leaders Kerzner International(global developer and operator of iconic destination resorts, Atlantis Resort and Residences and the ultra-luxury One & Only Resorts and Private Homes). It also grants owners a Montenegrin passport which allows freedom of movement for the main applicant and their family across 124 countries, includingthe Schengen Area, Russia, and Turkey. What’s more, with the country’s planned EU accession by 2025, holders will be eligible for additional benefits.

Located on UNESCO protected Boka Bay, Porto Montenegro is home to the world’s first platinum-status 460-berth marina, which offers the ultimate in waterfront living for the yachting community, with tax-free fuel, 24/7 yacht assistance, 7 per cent marine-related tax with a world-class yacht club.

Bustling bars and bistros, an eclectic selection of boutiques and international brands, such as a brand-new Dior, a year-round schedule of events for families, businesspeople and crew, Knightsbridge School International, a day and boarding school for boys and girls aged 3-18 years, and easy access to areas of outstanding natural beauty make this the perfect destination for residents, boat owners, charterers, and families alike.

Families and individuals can create a home in the heart of Europe, known as the jewel on the Adriatic Sea, as theprogramme allows investors to fast-track straight to a citizenship application, without having lived in the country beforehand. All applicants to CBI are required to invest* in approved real estateprojects in the country, such as Porto Montenegro’s spectacular newest urban neighbourhood, Boka Place, set to complete by the end of 2023.

Boka Place with Health & Wellness at the Core

Boka Place will feature the first flagship, five-star SIRO – an immersive hotel lifestyle experience. With fitness and wellness at the core of the brand, SIRO will feature 96 hotel rooms and 144 hotel-managed residences, as well as 69 private residences managed by M Residences Rental Management Service. The hotel-managed residences – housed within the buildings of Mistral, Ostro, and Sirocco – can be secured by buyers through single or multiple investments from the new Kerzner-Managed Residence portfolio to meet the CBI minimum investment threshold.

Residents of Mistral, Ostro and Sirocco willbenefit from access to SIRO’s hotel concierge services, the rooftop pool and bar and full access to all health and wellness facilities, including aninnovative fitness club, Recovery Lab, dedicated space for yoga and meditation, swimming pools, nutrition-led dining, revitalisation treatment rooms, an infrared sauna, flotation tank, cryotherapy room, meditation hideaway and recovery lab.Homeowners will also have the long-term benefit of participating in the SIRO rental pool programme. Private residences offer a total of 69 residences, with 26% of the portfolio available within the first building (Thea) reserved or sold, and the final building Alba will be released later this year.

Only three hours flight from key European cities, Montenegro is a quickly becoming a trending destination for new businesses and entrepreneurs, with one of the fastest growing economies in the Balkans. It provides an investor-friendly economy with the competitive personal, corporate, and capital gains tax rates at a maximum of 15 per cent and a EURO currency safety, as well as access to three international airports, Tivat, Podgorica and Dubrovnik. Montenegro’s favourable economic and political climate provides a solid investment opportunity, grounded by economic stability, with the Euro as the official currency. The country’s recent accession to NATO and impending EU candidacy demonstrates the ongoing government commitment to both internal and international security and stability. Bustling bars and bistros, an eclectic selection of boutiques and international brands, such as a brand-new Dior, a year-round schedule of events for families, businesspeople and crew, Knightsbridge School International, a day and boarding school for boys and girls aged 3-18 years, and easy access to areas of outstanding natural beauty make this the perfect destination for residents, boat owners, charterers, and families alike.