Residence permit per square meter: Montenegro started issuing "Golden visas"

Residence permit per square meter: Montenegro started issuing "Golden visas"

Starting from November 3, 2015 foreigners owning property in Montenegro, will be able to get a temporary residence permit.

The decision was taken by the government on 10th September and today, November 3, comes into force. Now, any foreign citizen, owning property in Montenegro (apartment, house, office, restaurant, etc.), regardless of its value, can get a residence permit.

To apply for a residence permit the foreigner will have to submit a certificate of ownership, the Montenegrin health insurance with a minimum term of 40 days and a certificate from the bank account of a € 3600 (€ 10 per day) .. Certificate from the bank can be replaced by guarantee of a local resident or business to cover the costs of a foreigner during his stay. Initially, the residence permit shall be issued for a period of 1 year, with unlimited number of extensions.

Previously, foreigners could get the residence permit only through investments - at the opening of foreign companies in Montenegro the conditions for obtaining residence permits have always been very loyal. Now the process will be even easier, which certainly simplifies stay in the country for a large number of foreign property owners. Also it will stimulate demand, which in recent years is experiencing not the best times.

According to the materials of