Since November 3, 2015, Montenegro has joined a number of countries where you can obtain a residence permit in exchange for purchasing real estate

Many European countries have a "golden visa" program, which Montenegro joined on November 3, 2015. The essence of the program is that every foreigner who owns real estate in the country of interest to him will be able to obtain a residence permit.

The Government of Montenegro has made a number of changes to the Law on Foreigners, which allow any foreigner who owns real estate in Montenegro, regardless of its value, to obtain a local residence permit. In this case, the Government of Montenegro has not set restrictions for foreigners in choosing the type of real estate, these can be houses, cottages, villas, apartments, cafes and restaurants, as well as offices.

The conditions of the “golden visa” stipulate that the local residence permit will be issued for one year without restrictions on its extension.

To apply for a residence permit, you will need a minimum package of documents: a certificate of ownership of real estate, local health insurance for at least 40 days and confirmation from the bank that there is €3,600 in the account. A bank account with the required amount can be replaced by a guarantee from someone to cover the expenses of a foreigner.

Also, the Montenegrin government program “golden visa”, in addition to a residence permit, gives foreigners the opportunity to obtain a work permit, which will be issued by a single document – a biometric card.