Launched during the Covid pandemia and operated until the end of 2022, Citizenship of Montenegro by investment program, gave a boost to the development of resorts in the south and in the north of this small European country. Basically, investors were drawn to the idea that Montenegro will become a member of the European Union so that it’s passport will kind of grow in privileges in short time. All is well so far, as in November 2024 Martha Kos, confirmed as European Commissioner for EU enlargement, named Montenegro among two countries that could complete integration into the EU in the next five years. Let’s take a look at the progress of the hotels, authorized for the Montenegrin CIP, how do they cope with the all the crises of pandemic and the pressure of the obligations to be built in time in spite of the growing prices of the construction process itself.
Montis Mountain Resort construction progress, November 2024
The largest project under the Citizenship of Montenegro by investment program. The hotel is being built in the ski resort of Kolasin, in the north of Montenegro, on a plateau 954 m above sea level. It is considered the country’s most vibrant mountain town.
5-star level hotel with 238 superb guest suites, three detached buildings comprising residential suites, landscaped communal areas, and a host of shared exclusive amenities. Restaurant, bar, spa, gym, conference rooms. 120 parking spaces in the garage.
All suites come complete with furnishings, fittings, and appliances by renowned European manufacturers, as well as year-round complimentary maintenance according to 5-star Splendid brand hotel standards.
And also, in the north of Montenegro, Hotel Breza 5*, built thanks to the investment citizenship program, is preparing to launch. 5* hotel, 170 rooms plus restaurant, bar, SPA, gym. Location 10 minutes’ drive to alpine skiing elevators.
BREZA hotel construction progress, October 2024
The progress of its construction is in the photo, and we also note that the entire infrastructure of the resort has already passed a technical test and was connected to the city power supply network this fall. The finishing of the façade of the buildings is 99% complete. The launch of the project has reached the home stretch.
Boka Place (an authorized CIP project), serviced residences in Porto Montenegro’s vibrant new urban quarter, announced opening in December 2024. Boka Place is built on a naturally elevated plateau to enhance the panoramic views across the vibrant life of the village below to the cool waters of the bay beyond. Properties range from studio apartments to three-bedroom duplexes and penthouses, between 45 m2 and 170 m2.
And note that December is a month of enchanting outdoor festivities throughout marina village and Boka Place. So that grand opening of the project would be more then festive.
Residence permit of Montenegro
Those who did not manage to take part in the Montenegro citizenship by investment program can nevertheless obtain a residence permit for purchasing real estate or opening a company. APEX has significant expertise in the premium real estate market in Montenegro and constantly operates an office in Podgorica. This way, investor may become a full-fledged participant in the local banking system, as well as obtain a driver’s license and ID card (can be issued via APEX).
