As one of the largest international investors in Montenegro, Porto Montenegro is introducing itself to the people of Pakistan via Montenegro’s Citizenship by Investment Programme (CBI).
Montenegro’s newest neighbourhood, Boka Place, qualified for Montenegrin CBI, offers a great investment opportunity to those, who are looking to acquire a secondary citizenship for ease of travel or are looking to invest for a better future. Read here as Brennon Nicholas, Director, Sales & Marketing Director, Porto Montenegro elaborates on how you can go about securing yourself a European passport to one of the continent’s most luxurious destinations situated along the Adriatic Coast.
Briefly tell us about yourself and what you do?
I am the Sales and Marketing Director at Porto Montenegro, a superyacht marina and nautical village in the amazing Bay of Kotor, Montenegro. I have held senior management positions across both real estate agencies and development companies throughout my career, from southern Spain to the GCC region.
Tell us about Porto Montenegro as one of Europe’s best-kept secrets.
Porto Montenegro is a flagship development benefiting from stable partnerships which have led to its transformation from a historic naval base into a luxury yacht marina.
Located in the UNESCO protected Bay of Kotor, Porto Montenegro combines a spectacular lifestyle destination with a world-class, full-service marina and luxury residential village offering premium real estate for sale and rental in this part of the Mediterranean.
Complementing our waterfront residential village and impressive 450-berth marina is an international retail and dining scene, with world-class gastronomy, elegant bars and bistros, as well as an array of sports, leisure and cultural amenities, bringing together established international brands and local businesses.
A dynamic mix of over 80 retail units encompasses fashion and accessories, day spa and hair salon, yachting services, business offerings (such as office spaces and networking events), amenities, and of course, quality F&B outlets, give the destination a year-round appeal.
Recently, Porto Montenegro has introduced a great investment opportunity for international investors who are looking to acquire a secondary citizenship. Could you please elaborate.
Porto Montenegro proudly introduced its newest neighbourhood, Boka Place, during 2020. Boka Place is envisioned as a pioneering urban-inspired residential neighbourhood and creative hub, home to the new vitality and wellness hub SIRO, a hotel by Kerzner International. Boka Place is composed of 213 managed and private residences, ranging from studios to penthouses.
Buyers of the managed Porto Montenegro residences are eligible to participate in Montenegro’s Citizenship by Investment Programme, a scheme introduced in 2019. The Citizenship by Investment Programme was introduced to encourage and facilitate foreign direct investment. With a minimum investment of €450,000 and an additional €100,000 donation to a Montenegrin government development fund, successful applicants are granted full citizenship within six months of applying.
Buyers can secure single or multiple investments from the new Kerzner-Managed Residence portfolio at Boka Place to meet the CBIP minimum investment threshold. The key benefit for citizens is the right to free movement across the countries in Europe’s Schengen area, Russia and Turkey among others.
How does one apply? Are there any special requirements?
To apply, the main applicant must be over 18 years of age, hold a valid passport, have proof of no criminal record, and demonstrate that investment funds have been legally obtained.
Investors need to make a €100,000 donation to a Montenegrin government development fund and a €450,000 investment in the government-approved development project, such as designated Porto Montenegro residences.
What are some of the extraordinary opportunities a citizen of Montenegro can avail?
Citizenship to a country that is an official EU candidate country, visa-free movement to 124 countries (including Europe’s Schengen Area, Russia and Turkey), benefit from the lowest personal and corporate tax rates in Europe, mild Mediterranean climate, beautiful scenery and a low cost of living.
Nestled on the Adriatic coast, on the doorstep to Europe, Montenegro is blessed with a spectacular coastline. What are some of the most popular tourism activities visitors here often indulge in?
The miraculous beauty of the Adriatic sea attracts tourists from all over the world who come to enjoy all the benefits this part of the world has to offer. The connection between the sea and the high mountains as a backdrop allows the combination of unimaginable sceneries and experiences within less than 3 hours of driving.
There are numerous activities on the water in Montenegro, such as boat tours and excursions, tandem paragliding, rowing, kayaking, sailing, deep-sea fishing, diving, hiking, skiing and walking trails in the surrounding mountains.
What are some of the cultural heritage aspects that Montenegro can boast of?
Montenegro is a country of extraordinary natural and cultural heritage – from 5 stunning national parks, numerous fortresses, castles and monasteries to Ancient Montenegro towns and their older counterparts along the coastline. In particular, the UNESCO protected Bay of Kotor holds the most significant number of preserved cultural and historical monuments in Montenegro.