DATA ON THE TOURIST COMPLEX

Tourist complex - hotel with 4 * villas, company "DURMITOR DEVELOPMENT" is located on a land complex of 13,750 m². The main tourist facility of the complex is a hotel with 24 apartments, while the annex of the complex consists of seven villas with 11 apartments. The complex contains accompanying tourist facilities: spa & wellness, sauna, restaurants, sports fields, trim trail, ski service.

The tourist complex is located in the village of Moticki Gaj, near Zabljak, near the National Park "Durmitor".

The tourist complex consists of a hotel building and 7 villas (4 types A1 and 3 types A2).

Total capacity is 90 beds.

The hotel also has a modern SPA center, as well as a restaurant (60 seats) with a kitchen.

Total value of future investment: € 20,474,981.

The complex is located 129 km from Podgorica airport, 174 km from Tivat airport and 168 km from Dubrovnik airport.

 

Land area: 13 751 sqm

Property area: Hotel - 2898m² | Villas A1 - 2277m² | Villas A2 - 1571m²

Number of apartments: Hotel - 1 building - 24 apartments (46 beds); villas A1 - 4 buildings - 8 apartments (24 beds); villas A2 - 3 buildings - 3 apartments (12 beds)

Planned content: Ski service, ski room, sports fields, trim track, VELLNESS / SPA center contains: Russian spa, dry Finnish sauna, area with jacuzzi, relaxation shower, steam massage area, men's and women's wardrobe with toilets and space for a doctor.

Building permit provided.

Realization period: 3 years

CITIZENSHIP BY INVESTMENT
Economic citizenship
program
Montenegro is one of the fastest growing economies in the Balkans, the fastest growing tourist destination and as such is becoming a magnet for migrant investors seeking mobility, security and a first-class quality of life.

 

Interested investors now have access to a program that allows them to obtain a second passport and Montenegrin citizenship through investment. In 2019, the Government of Montenegro, with the consent of European partners, adopted a program for acquiring economic citizenship of Montenegro with the condition of investing in development projects. The program is limited to a number of 2,000 applications until the end of 2021.

 

The government has offered investors interested in acquiring Montenegrin citizenship a list of development projects for investing in tourism. The list is published on the official website of the Government of Montenegro. The projects concern the southern, central and northern regions. Possibility of obtaining economic citizenship: By the Conclusion of the Government of Montenegro number: 07-5125 from 19.11.2020. The project has been included in the List of Development Projects.

 

Montenegrin Investment Agency

ADVANTAGES OF MONTENEGRIN CITIZENSHIP
  • Montenegro will become a member of the European Union in 2025
  • Visa-free travel to 137 countries (Schengen zone, Russia, Turkey, United Arab Emirates)
  • Montenegrin citizens can obtain a US E-2 visa, which allows them to live and do business in the US, facilitates the process of obtaining more UK
  • Montenegro is a member of NATO
  • Montenegro is a member of the WTO, OSCE, European Monetary Union
  • The Montenegrin passport ranks 34th in the world
  • Montenegro offers a European lifestyle at lower prices
  • It is not necessary to renounce your citizenship
  • Application procedure in a period of 3-6 months
  • Special benefits for foreign companies of applicants
  • Favorable tax policy (Personal income tax 9-11%, Capital gains tax and profit tax 9%, VAT 7-21%)
  • There is no taxation of inheritance, gifts, income from life and property insurance contracts. Profits earned outside Montenegro are not taxed
  • Existence of interstate agreements that prevent double taxation of Montenegrin citizens
    • PROCEDURE AND TERMS OF THE CITIZENSHIP PROCESS
    1-2 days
  • Signing a contract with an agent
  • Preliminary check
  • Making a deposit for agent services
    		•
    2-4 weeks
  • Preparation of documents for the application
  • Opening two ESCROW accounts - one for a donation, the other for a real estate investment
  • Transfer the required amount to these accounts in full
    		•
    1-2 weeks
  • Payment of MPs' services and government fees
  • The agent submits a request to the government
    		•
    6-8 weeks
  • The government considers the application at the same time as the due diligence agent and other government agencies, including the Ministry of Interior
    		•
    2-4 weeks
  • The government approves the statement. The Bank releases funds from the ESCROV account and transfers them to the account of the government and project investors on the basis of a letter of approval
  • The Applicant will be invited to Montenegro to complete the procedure, its possible at a distance
    		•
    1 week
  • The applicant must visit Montenegro to obtain biometric data, citizenship and passport
    		•
    CONDITIONS
    RESOURCES

    Payments / expenses

     

  • Payment of funds for the costs of the procedure paid to the payment account of the Investment Agency of Montenegro, in the amount of:
    •  ▫ € 15,000 for the applicant
     ▫ € 10,000 for a family member to 4 members
     ▫ € 50,000 for each member over the 4th family member

     

  • Deposit at least € 100,000 to the ESCROW account for the development of less developed local governments

    •  

  • Deposit at least € 250.000 to the ESCROW account to invest in the development project Tourist Complex 4* Zabljak

    •  

  • Payment for Due diligence:
    •  ▫ € 7,000 for the applicant
     ▫ € 10,000 for family members up to 4 members
     ▫ € 1,500 each subsequent

     

  • Payment of the fee for the authorized Mediation Agency:
    •  ▫ € 35,000 for one person
     ▫ € 40,000 for two people
     ▫ € 45,000 for three people
     ▫ € 50,000 for four and over four people.

     

    Plan additional costs for the needs of translation, opening ESCROW accounts, notarizations and statements, costs of banking transactions, etc. (approximately € 5,000).

    PERSONAL DOCUMENTATION FOR THE APPLICATION

     

  • Certified copy of passport and ID card (all pages of the passport)

    •  

  • Birth certificate

    •  

  • Excerpt from the register of marriages

    •  

  • Insurance policy valid for Montenegro and covering health insurance

    •  

  • Confirmation that the applicant and the family member do not suffer from infectious diseases:
    •  ▫ Laboratory report of basic blood tests (ESR, WBC, CBC - DBC)
     ▫ Confirmation that the applicant does not suffer from tuberculosis (X-ray for persons older than 14 years) or Mantoux tuberculosis test interpreted in relation to BSG vaccination status or negative interferon - gamma test /IGRAs/
     ▫ For persons under 18 years of age, a vaccination certificate according to the official calendar of the country of residence

     

  • Proof that in Montenegro and / or another country the applicant has not been legally sentenced to unconditional imprisonment for a term exceeding one year for a criminal offense for which he is prosecuted ex officio or the legal consequences of the conviction have ceased

    •  

  • Evidence that in Montenegro and / or another state a family member has not been legally sentenced to unconditional imprisonment for more than one year for a criminal offense for which he is prosecuted ex officio or the legal consequences of the conviction have ceased

    •  

    Provide documents for all family members.

     

    The documents must be translated into Montenegrin by a certified translator / court interpreter.

    DOCUMENTS REQUIRED FOR THE PROCEDURE OF ISSUING DUE DILIGENCE REPORTS

     

  • Copy of passport with all pages
  • Official corporate documents for the current business of the applicant (company registration, registration number, company status, directors / shareholders)
  • Chronology of the applicant's business for the last 10 years
  • If the applicant does not own a company, submit a certificate from the employer on the amount of salary and benefits
  • Financial accounts of companies owned by the applicant
  • Certificate from the police on the applicant's non-conviction in the last 10 years for the country of origin and the country of residence not older than 3 months
  • Certificate from the police on non-conviction in the last 10 years for the country of origin and the country of residence not older than 3 months, for a family member older than 16/18
  • Statement from the applicant's account from which payments will be made for the application for the economic citizenship program, at least for the previous 12 months
  • Statement of account on which regular payments of salaries and allowances are made, at least for the previous 12 months
  • Document stating the current exact address of the applicant's residence (utility bill, real estate certificate, etc.)
  • Driver's license
  • Information about real estate
  • Excerpt from military records and records on discharge from the army, if any
  • Proof of attendance at educational institutions for dependents (children)
  • Proof of education of the applicant (diploma)
  • Proof of spouse's education

    • Due diligence documents must be translated into English by a certified translator / court interpreter, sent scanned.

    SHARE PROFIT MODEL
    Business model of investing in a tourism development project in order to apply for Montenegrin citizenship.

     

    "DURMITOR DEVELOPMENT" company offers a development project to interested applicants for acquiring Montenegrin citizenship, on the principle of investment in the development of the tourist complex as well as business partnership.

     

    The complex is conceived as a unique business and promotional club for future investors, so that each applicant receives a VIP loyalty card from the business club in Zabljak. The benefits of the business club are reflected in the use of the services of this facility for promotional and business purposes of the applicants. In order to transport and stay future partners in the 4* tourist complex, the company provides all logistics and support services. As Montenegro is a destination suitable for business development, the company will provide all logistics, business and legal services to members of its club and their guests.
    Investment in the Tourist Complex and profit sharing

     

  • Share in profit

    • By concluding the Agreement on investment in the Tourist Complex and the distribution of profits, you get the right to 1% (one percent) of the profit, on an annual level, which the Tourist Complex will realize after starting the business. You have this right for the entire period of operation of the Tourist Complex.

     

  • Share in the profit from the sale of the Tourist Complex

    • By concluding the Agreement on investment in the Tourist Complex and distribution of profits, you get the right to 1% (one percent) of the profit, which is realized in the year in which the Tourist Complex as a whole is sold. The tourist complex cannot be sold before the expiration of 10 (ten) years from the beginning of business

     

  • Loyality card

    • By concluding the Agreement on investing in the Tourist Complex and profit sharing, you and your family members get:
     ▫ Free hotel accommodation (bed and breakfast) and use of the wellness & spa area for 15 days in a calendar year (10 years)
     ▫ Does not include food and drink or services in the wellness & beauty center, as well as ancillary services
     ▫ Free transfer from the airport, marina, port or other destination, to the hotel for the applicant and family members
     ▫ Extension of stay, after 15 days free, with a discount of 20% for club members (applicant and family members who applied), for previously free services
     ▫ 20% discount on hotel accommodation services (bed and breakfast) and use of the wellness & spa area for 15 days in a calendar year (10 years) for guests of club members
     ▫ 30% discount on food and beverages and services in accompanying facilities for the applicant and family members
     ▫ 20% discount on food and drinks and services in accompanying facilities for guests of club members
     ▫ 20% discount for transfers from the airport, marina, port or other destination, to the hotel for guests of club members
     ▫ 10% discount on tourist tours of club members and their guests
    * The hotel has 35 accommodation units with 88 beds.

    BUSINESS CLUB
    The business club will be established with the aim of providing support to applicants and their companies in cooperation with businessmen and companies from Montenegro and the Western Balkans region. The Business Club will offer logistical support to applicants, club members, in order to expand the business of their companies and businesses to the markets of Montenegro and the Western Balkans.
    The business club has a clear vision of international cooperation, regional cooperation, interconnection of companies, and exchange of experiences at the micro and macro level of general business. The business club will, among other things, enable the applicants to get acquainted with economic organizations and communities in order to place the goods and services of its members, applicants, find a market for exporting products from the range of club members, but also find goods and services for possible import from the Montenegrin market and the Western Balkans, establishment of regional business offices of club members, correspondence with potential subcontractors, arranging meetings, translation services, administrative and legal assistance, information on fairs, seminars and potentially interesting investments in Montenegro and the Western Balkans. The club also deals with the promotion of companies and products of club members. The business club offers its business premises for use by all club members.
    Hotel business club services

     

  • Consulting services in the field of business, law and engineering to club members in the first two years of membership free of charge

    •  

  • Hotel IT platforms free of charge for the first two years

    •  

  • Organizing meetings and seminars (logistics and space) free of charge for the first two years (up to two events per year with a maximum of 20 people, without food and drink)
  • Courier services free of charge (only official tariffs of courier operators)

    •  

    * Jobs and profits that may arise from the consulting services of the Business Club and the member are individually agreed before the service.

     

    We invite you to use the chance until the end of 2021, by investing in tourism in Montenegro, create your destination for vacation and expand the business network in the Western Balkans in the priceless beauty of Montenegro, gain lifelong citizenship of Montenegro for yourself and your family!
    MAKE AN ENQUIRY
    Get personalized expert advice

     

    Send us e-mail
    durmitordev@gmail.com

     

    Call us
    +382 69 000 888

     

    One of our qualified advisors will get back to you today or next business day.

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