Montenegro Economic and Business Residence Permit

πŸ’³ Economic and Business Residence Permit, Digital Nomad Visa of Montenegro - Requirements andΒ Process

πŸ•œ Duration 365 days ✨ Extendable πŸ€‘ 306 ($) πŸ’° 500 ($) 🧐 Digital Nomad Visa

The Economic and Business Residence Permit program for digital nomads in Montenegro was launched to attract remote workers from around the globe by providing them with the opportunity to live and work legally in the country. Montenegro's growing reputation as a business-friendly and picturesque environment makes it a desirable destination for digital nomads. Eligibility for the program typically requires: 1. Proof of stable remote employment or independent income generation. 2. A minimum monthly income threshold that ensures the nomad can live comfortably without local employment. 3. Health insurance coverage for the duration of the stay. 4. A clean criminal background. Successful applicants are granted a residence permit, which often includes access to local services and sometimes tax advantages. The application process, specific income requirements, and the duration of the permit may vary and should be confirmed with the latest updates from Montenegrin immigration authorities or official government websites.

Who can be eligible for the Montenegro Economic and Business Residence Permit programm for digital nomads?

To be eligible for the Montenegro Economic and Business Residence Permit for digital nomads, such as remote workers, business owners, and startup entrepreneurs, an individual typically needs to meet certain criteria. Below is a list of the types of professionals who might be eligible:

  • Remote Workers: Individuals who are employed by a company but can perform their work remotely using digital tools.
  • Business Owners: Entrepreneurs who own a business that can be managed online and does not require their physical presence in the business's home country.
  • Freelancers: Professionals who offer services to clients globally and can work from anywhere, often in fields like writing, design, consulting, programming, and more.
  • Startup Founders: Individuals who have established startups and can operate them remotely or want to relocate their startup to Montenegro while benefiting from the digital infrastructure.
  • Online Traders: People who engage in online trading, investments, or cryptocurrency and do not need to be in a specific location to manage their portfolios.
  • IT Professionals: Experts in information technology who can provide services remotely, such as web development, app development, systems administration, and cybersecurity.
  • Creative Professionals: Content creators, digital artists, and other creatives who produce work that can be delivered through digital channels and do not require a fixed workplace.
In addition to professional eligibility, applicants will typically need to meet other requirements, such as proving stable and sufficient income, health insurance coverage, and a clean criminal record. Specific requirements can vary and may be subject to change, so it is recommended to consult the latest information from the official Montenegrin government websites or contact immigration consultants for the most current eligibility criteria and application process.

Benefits of Working as a Digital Nomad in Montenegro

  • Affordability: Montenegro is known for its relatively low cost of living compared to Western European countries, making it a budget-friendly option for digital nomads.
  • Natural beauty: The country boasts stunning landscapes, from the beaches of the Adriatic coast to the mountains of the Durmitor National Park, offering a great work-life balance for nature lovers.
  • Comfortable climate: With its Mediterranean climate, Montenegro provides temperate weather especially along the coast, making it an ideal location for those who prefer mild winters and warm summers.
  • Geographical location: Montenegro's location in Southeast Europe makes it a convenient base for exploring other countries in the region, as well as easy access to both Western and Eastern Europe.
  • Cultural heritage: Rich in history and cultural heritage, digital nomads can enjoy exploring ancient towns, UNESCO World Heritage Sites, and experiencing the local traditions and cuisine.
  • Connectivity: With improving internet infrastructure across the country, accessibility to high-speed internet is increasingly common, enabling digital nomads to work efficiently.
  • Friendly locals: Montenegrins are known for their hospitality, and the nation's relatively small size can contribute to a sense of community for foreigners.
  • Tourist infrastructure: Due to the country's growth in tourism, there is a good selection of accommodations, restaurants, and entertainment options to meet various preferences and budgets.
  • Safety: Montenegro is regarded as a safe country for travelers and expats, with low crime rates, adding to the overall appeal for those considering a digital nomad lifestyle.
  • Visa options: Montenegro offers various visa options for visitors, and for a longer stay, there is a possibility of obtaining a temporary residence permit, which is particularly appealing to non-EU digital nomads.

How much does the Montenegro Digital Nomad Visa Cost?

The visa application fee is 500 EUR. Visa fee is non-refundable.

Processing time for the Digital Nomad Visa in Montenegro - Economic and Business Residence Permit

The processing time for an Economic and Business Residence Permit in Montenegro can vary depending on several factors, such as the current workload of the immigration authorities, the completeness and accuracy of the application submitted, and other specific circumstances of the applicant. Generally, the processing can take anywhere from a few weeks to a few months. For the most accurate and up-to-date information regarding processing times, you should contact the relevant Montenegrin embassy or consulate, or check the official website of the government of Montenegro or its immigration department. It is also advisable to stay in contact with a legal representative or consultant if you are going through the process, as they can provide you with the current timelines based on their latest experiences.

How long can I stay in Montenegro as a Digital Nomad?

Visa on Economic and Business Residence Permit is valid for 365 days.

Paying taxes as a Digital Nomad in Montenegro

If you're a digital nomad in Montenegro, the taxes you may have to pay can depend on a number of factors including your residency status, where your income is sourced from, and what kind of work you are engaged in. Generally, for tax purposes, an individual is considered a resident in Montenegro if they spend more than 183 days in the country within a 12-month period, or if their center of business and vital interests are in Montenegro. Here are some of the taxes that digital nomads might need to be aware of in Montenegro:

  • Personal Income Tax (PIT): If you're a resident for tax purposes, your worldwide income would be subject to PIT, which is based on a progressive rate up to 11%.
  • Social Security Contributions: If you’re working as a freelancer or self-employed, you may be required to pay into the social security system, which covers pension and health insurance.
  • Corporate Tax: If you've established a company in Montenegro, you need to pay corporate income tax on the company's profit, which is set at a flat rate.
  • VAT (Value Added Tax): Should your business activity exceed the VAT threshold (currently at 18,000 EUR in Montenegro), you'd need to register for VAT and charge this on your services where applicable.
Furthermore, digital nomads should be aware that tax treaties and local laws can change, so it is always a good idea to consult with a local tax professional or legal advisor to get accurate and current advice pertaining to your specific situation. Tax compliance is important, and the implications can vary widely based on your particular circumstances, including where you are from, the nature of your work, and how long you intend to stay in Montenegro.

Is it possible to apply the Digital Nomad Visa in Montenegro for themselves as well as for dependents?

Montenegro offers several types of residence permits, including those linked to economic and business investment. If you plan to apply for an Economic and Business Residence Permit in Montenegro, you can generally include your dependents in your application. Here's how the process usually works:

  • Eligibility: To apply for a residence permit based on business or economic activities, you typically need to either start a business in Montenegro, invest in an existing Montenegrin company, or be involved in some sort of economic activity that is beneficial to the country.
  • Dependents: Dependents typically include your spouse or partner, minor children, and sometimes other family members who are financially dependent on you. Each dependent must be included in the application with the appropriate personal documentation.
  • Application Process: The application process usually involves submitting several documents, including a valid passport, proof of health insurance, proof of sufficient funds to support yourself and your dependents, a criminal record check, and documentation related to your business or investment.
  • Registration of the Company: If the permit is business-related, you would need to register your business with the relevant Montenegrin authorities and provide proof of this registration.
  • Proof of Investment: In cases of investment, you should provide proof of your investment, which may include contracts, payment receipts, or a statement from a Montenegrin bank.
  • Permission for Dependents: Your dependents' ability to work or study in Montenegro depends on the specific type of residence permit you get. You may need to check the details regarding their rights under your particular permit.
  • Legal Assistance: It is often advisable to seek the assistance of a lawyer or a legal firm specialized in Montenegrin immigration law to ensure the application process goes smoothly and all the requirements are properly met.
Please note that immigration procedures and policies are subject to change, so it's essential to consult the latest information from official resources or seek professional assistance to ensure that you have the most current and accurate guidance.

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