The relevant Committee of the Parliament of Montenegro approved the amendments proposed by the government to the Law on Foreigners. The final vote will be held on Monday.
What are the changes?
- The minimum value of real estate, on the basis of which a foreigner can obtain or extend a residence permit, is now 200,000 euros. Previously, there were no cost restrictions.
Property owners who have obtained a residence permit on the basis of their property will be given a one-year period to bring their status in line with the new provisions of the law.
- Foreign nationals – executive directors and owners of more than 51% of the capital in the company–must have at least three employees, two of whom are citizens of Montenegro and are insured full-time.
Foreigners will be given 180 days to bring their business in line with the new rules.
In addition, measures are being taken against the abuse of residency, as well as inspections based on data on illiquid and inactive firms owned by foreign citizens.
We are monitoring the situation in Montenegro with you!
Source: Borba
