The Restoran Vista Vidikovac sits high atop a cliff overlooking the lapis lazuli blue of the Adriatic Sea, the dramatic and surprisingly green coastal mountains known as the Dinaric Alps, and the ancient told of Budva, its terracotta roofs and white stucco siding baked by the sun over the last 500 or so years.
That was the backdrop for my marriage in Montenegro to a woman from Crimea.
This was late 2020—love in the time of COVID—and Montenegro was one of only two destinations she and I could both reach from our respective bases in Russia (her) and the Czech Republic (me).
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So, we wed late on a Monday morning in early December, rain showers and sun showers competing for dominance.
At the time, I told my wife, Yulia, that I thought this part of Montenegro was going to emerge as an increasingly popular tourist destination.
Last year, I returned to coastal Montenegro on assignment for International Living, and I was amazed by how dramatically the region has exceeded my expectations. Kotor Bay, in particular, is going through a metamorphosis as it transforms from a sleepy and ancient Roman-era trading post into one of the hottest—and picturesque—emerging-market destinations in all of Europe.
A small taste of the region’s upswing: The Saudi royal family left the south of France and now bases its Golden Fleet of yachts in Porto Montenegro, a former Soviet-era submarine base that is now a high-end resort destination in the small, rapidly growing city of Tivat
My bet: This sliver of Montenegro is going to become increasingly popular as Americans and others look for backdoor ways into Europe.
At the moment, Montenegro is not part of the European Union, though it does use the euro as its currency. But Montenegro is the frontrunner among Balkan countries for accession into the club of 27 EU member states. Some think Montenegro could be #28 by 2028. Others think that’s ambitious.
Either way, Montenegro’s path forward is clear: It will join the EU relatively soon.
And that makes this seaside chunk of mountainous beauty a great play on EU residency and citizenship.
As of this past January, Montenegro put in place a new rule that grants temporary residency status to non-EU nationals who invest a minimum of €150,000 ($173,000) in Montenegrin property. The residency is good for one year but is renewable so long as you continue to own the property.
After five years, owners of Montenegrin property can register for permanent residency. In another five years, they can apply for citizenship—which comes with a Montenegrin passport, which at that point is very likely to be an EU passport, one of the most desirable passports on the planet.
No other country in the current EU offers any path to residency, citizenship, and a passport that is as affordable as Montenegro’s €150,000 entry price.
And what will that price tag actually afford?
Well, I found a newbuild, 450-square-foot one-bedroom, backed up against the mountains, with panoramic views out over Kotor Bay and the city of Tivat. Price: €159,000. Step up a bit to €216,000 and you’re into a luxury one-bedroom condo with high-end finishings up on a leafy hill, in a Mediterranean-style community overlooking Tivat.
Though the local population is just 17,000, Tivat is on the upswing. When I was there on assignment, the international airport was under expansion, new roads and highways were going in, and new (albeit small) shopping malls were popping up.
Over on the Adriatic coast, about 20 minutes to the west, an entirely new town called Luštica Bay is building out—a yacht harbor as well as hillside villas, apartments, and restaurant/shopping complexes that look like they were designed by Disney “imagineers” trying to recreate ancient Venice in the modern world.
Of course, Montenegro is so compact that you can get to other places quickly. Old Town Kotor Bay is 10 or 15 minutes away from Tivat, depending on traffic. Budva is 40 minutes to the south. Dubrovnik, the gorgeous and ancient walled city in Croatia that served as the setting for Game of Thrones’ King’s Landing, is less than two hours to the north. And the Tivat airport offers daily and seasonal service to Istanbul, Paris, London, Barcelona, Berlin, and others.
Today, coastal Montenegro is an emerging destination. Tomorrow, it’s going to be the place where investors and those seeking EU citizenship will look to and say, “I wish I’d acted when I had the chance.”
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