A couple of weeks ago, Bloomberg published an article titled “One-Third of Americans Making $250,000 Live Paycheck-to-Paycheck, Survey Finds”. Being a bit familiar with what’s going on in the US economy, this doesn’t surprise me much. But, that is for others to analyze (except Paul Krugman or Jim Cramer hopefully).

Therefore, my question for that “third of Americans making $250,000 and living paycheck-to-paycheck” is not “How did that happen to you?”, but rather “What are you still doing there?” If your money can be worth more elsewhere, why not consider relocation? If your work or business can be remote in any way, why don’t you change your place of living? This is a growing trend, not just because of Covid-19 or technology, but also because people want to live where they can have a decent and peaceful life.

So if you are considering relocation, Montenegro may be a great spot. Why? Well, first of all, you can live lavishly with $250,000 per year in Montenegro even if it’s pre-tax income. Second, we are a beautiful small country with fantastic nature and easy-going lifestyle where everybody just leaves you alone.

Please note that I’m writing this as a local resident and a business owner and some people may disagree with my opinion here, but it’s just my personal view. And yes, my company offers the full relocation service to Montenegro, that is why I wrote this article in the first place.

So, here are the 8 reasons why you should move to Montenegro from my perspective:

1 – Cost of Living

What can $250,000 per year get you in Montenegro? The answer is – a lot! But more importantly, it can get you a pretty careless life, when it comes to expenses. Don’t think inflation hasn’t come to Montenegro also. The prices of everything here are increasing, but they are much less increased than in the USA or other expensive destinations. For comparison, the average gross salary in Montenegro is around $930 a month. So the prices can not increase as much as one would think.  

I will not break down the cost of living in Montenegro in so much detail here, but here are the average basics. In general, a single person can live on around $830-1,040 per month, including rent, utilities, and groceries. A family of two can go through a month with around $1,250-1,350, while a family of four will definitely need around $2,100. Everything above that is an upgrade, depending on the lifestyle a person has.

Just for you to make a comparison, a two-bedroom apartment on the coast can be found for $830-1,150 per month (although the prices vary much from city to city), without utilities included. The utilities are usually $100-150 a month, depending on your consumption and the size of the apartment. If you want a real upgrade, you can choose one of the mixed-use resorts with yacht marinas and shopping villages.

Regarding other things, minimal monthly groceries for two would be around $310. For example, a three-course lunch or dinner for two at a restaurant can be had for around $55, but a single meal at a good restaurant goes between $15 to $30.

2 – Peaceful Life and Easy-Going Culture 

Material comfort is very important, but so is a peaceful life. And that’s pretty much life in Montenegro. People are known for their easy-going culture and relaxed atmosphere in general. Well, except when they want to show off their new branded clothes or cars. But joking aside, as I mentioned above, everyone just leaves you alone as people are not prone to new ideologies or imposing culture or opinions. And I have no doubt you’ll easily get used to having coffee or rakija (Montenegrin alcohol beverage) during working hours in a full café.

On the other hand, some would say it gets too peaceful during winter when it comes to social life or clubbing. And in all honesty, it’s sometimes true, although a lot of people like it that way. But it also depends on your style, Montenegro has a number of ex-pats who stay here during the winter. The clubbing scene is not very good except in the summer, but eventually, you can hop on a plane to Belgrade and go out.

3 – Beautiful Nature and Sights 

I know everybody talks about this when they mention Montenegro, but I can’t stress it enough. Montenegro has amazing nature. Beautiful sea coast, mountain wreaths, lakes, forests, five national parks, peaks, trails, canyons, you name it. And although Montenegro is small, don’t worry, you’ll need a lot of time to explore everything. Even I still didn’t go to all the places worth visiting and I’m still discovering. Besides nature, Montenegro has a rich history and you will fall in love with centuries young old towns, fortresses, and churches. I will not go into more details, so feel free to check out the slideshow below. Better yet, book a holiday in Montenegro and see for yourself before you decide to relocate.

4 – Property prices and Opportunities 

Although the prices are on the rise, Montenegro still has very good property prices and opportunities compared to the US hotspots. For example, I’m sure it wouldn’t be easy to find a two-bedroom apartment with a sea view for around $130.000 in the USA hotspots. Of course, the prices vary from city to city but they are worth checking. There is also a number of luxury developments with shopping villages and yacht marinas if you are into this.

If you move away from the coast more to the inland, you can find fantastic houses with big yards and gardens at very favorable prices. In addition in rural areas, you can own agricultural land (although there’s a cap for foreigners) for ridiculous prices, sometimes even $3-4 per square meter.

But besides the prices, there’s something even better – simplicity. It’s very simple for a foreigner to become a property owner, you only need your passport besides the money. The property taxes are low and the inheritance tax for the closest family is 0%. In addition, property ownership is freehold and you can own an apartment, a house, or a piece of land with no limitations.

And as they would say, that’s not all. By buying a property such as a house or an apartment, you can easily obtain a yearly residence permit. There are some papers you would need to file, but it’s not too complicated. If you want to take your relocation a step further, you could also obtain a Montenegrin passport by investing $365,000 or €572,000 in one of the projects from the Montenegro Citizenship by Investment Program. 

5 – No Covid-19 Restrictions

As of a couple of months ago, Montenegro has no Covid restrictions whatsoever. Masks are not mandatory, the vaccination is widely supported but there are no restrictions for the unvaccinated. All venues are open, including essential and non-essential businesses, events can also be held with no special terms. There are also no border restrictions, you don’t need any proofs or tests to enter Montenegro.

6 – Low Cost and Few Requirements for Residence Permit

If you want to move here for a longer period, you will need to obtain a residence permit. And that’s something that is much easier and cheaper to get in Montenegro than some other destinations. So, you can either open a company and appoint yourself as the CEO, or you can buy any livable property, like an apartment or a house. If you are not into property buying, the company registration option is much cheaper and easier, as in total it can cost you as low as $3,430 per year. That is a fixed cost of around $280 per month (includes salary tax and contributions, accounting, and company address). I can tell you more about this if you book a consultation or send an inquiry.

Montenegro will also introduce a digital nomad visa soon, so you can expect even easier procedures and lower costs for obtaining a one-year residence permit.

7 – Easy and low-Cost Business Setup

Just like for a property purchase, you only need your passport to register a company in Montenegro. There are no restrictions on foreign capital or foreigners being business owners. The minimal founding capital for an LLC is $1 and the registration can be done remotely through a good agent (like us for example). The registration itself takes around 7 days and the process is very easy. Corporate taxes are also pretty low, as the corporate profit tax is 9% for a profit of up to $104,000 (€100,000). For larger profits, the rate goes to 12% for up to $1.56 million profit and to 15% for profits above that bracket.

8 – Kinder Egg

Yes, you can buy the notorious and dangerous Kinder Egg in Montenegro in every corner. Don’t worry, perfectly legal.

Can Montenegro be Your New Home?

There is a number of additional reasons to relocate to Montenegro, but I suggest you get here and find out. However, do note that not everything is perfect of course, and there are downsides as well. But nowhere is perfect these days I guess. In any case, in today’s time, relocation has never been easier. So you can make your own judgment about the best place for you to live. What’s sure is this – you won’t just live paycheck-to-paycheck in Montenegro if you are making $250,000 per year. And by the way, happy 4^th of July.