How Montenegro became the world’s fastest growing center for millionaires
It is located between the blue-water Adriatic Sea sea And high-rise Dinaric AlpsMontenegro has seen a 124% increase in the number of millionaires within its borders over the past decade, according to EU statistics. The Henley Report on the migration of private wealth 2025. In fact, it is now the world’s fastest-growing millionaire hub.
Its prime minister, Milojko Spaić, says the shift is not just a happy accident – or caused by good weather. “We are very keen to bring the smartest and brightest of the world to Montenegro,” the 37-year-old leader said on stage. Global Luck Forum In Riyadh, adding that low taxes are the reason for the influx of wealthy residents.
“Our tax policy is very simple. We believe that people who tie up their investments in Montenegro, whether they are investors, employees, workers, managers – whoever invests in Montenegro’s success – we give them tax benefits.”
Montenegro boasts one of the lowest personal and corporate income tax rates in Europe, with rates ranging from 9 to 15%. Residents can expect to pay nothing up to €700, 9% tax on their earnings between €701 and €1,000, and only 15% on the portion of their gross monthly salary that exceeds €1,000. (One euro equals 1.16 dollars). In comparison, the top personal income tax rate in Switzerland can be around 40%.
According to Spajic, the country’s corporate income tax will soon be the lowest in Europe.
“And we have by far the lowest employment tax wedge in Europe,” the leader added. “The reason, again, is that people who come to Montenegro, to link their destiny to Montenegro, we want them to feel benefited.”
With lower taxes lifting a heavy burden, Spajic has provided a monetary advantage for Montenegro as well: the country’s currency is linked to gold.
“Another thing that is probably interesting for investors is that we live in a quasi-gold standard. For us, the euro is gold; to get the euro, we need to sell our assets, services or goods. So we need to give something real in exchange for the euro, which makes the pricing of Montenegrin assets fair and not inflated by the quantitative easing of the past.”
“So one of the reasons why Montenegro is a good investment opportunity is that our prices are reasonable,” he concluded.
The Exodus of the Ultra-Rich: The World’s Fastest-Growing Millionaire Hubs
- Montenegro, 124% increase in the number of millionaires between 2014 and 2024
- United Arab Emirates, increase 98%
- Malta, up 87%
- Poland, up 82%
- USA, up 78%
Millionaires are packing their bags in droves in the hope of finding safer places for their money as is the case in the global economy Full Due to ongoing armed conflicts and trade wars. It is called “The migration of great wealth.’
An estimated 142,000 millionaires will uproot themselves in 2025, but next year is expected to bring an even greater number of millionaires on the move – about 165,000 expected to emigrate in 2026, according to the Henley Private Wealth Migration Report. While its population of 2,800 millionaires is still small compared to many other countries, Montenegro is experiencing an unprecedented boom within its borders.
“Montenegro’s low tax system, with flat income taxes and no inheritance or gift tax, made it particularly attractive for wealth preservation,” Dominik Volek, head of Henley & Partners’ private client group, previously said. luck.
“Combined with its Adriatic coastline, luxury real estate offering, and attractive Mediterranean lifestyle, the country is becoming a favorite destination for lifestyle-minded investors.”
An individual becomes a tax resident in Montenegro if he spends more than 183 days in the country.
Meet the Prime Minister behind Montenegro’s recent success
Just like the country he runs, Montenegro’s prime minister is a success story of his own: he is one of the youngest leaders in the world.
Before entering politics, Spaich worked in finance. He worked as a credit analyst at Goldman Sachs and later became a partner at a venture capital fund in Singapore. His political career began when he was appointed Minister of Finance and Social Welfare in the Government of Montenegro from 2020 to 2022. In July 2023, he was elected to the Parliament of Montenegro and was appointed Prime Minister in October 2023.
As of 2025, he is the fourth-youngest head of state in the world, after Ibrahim Traoré of Burkina Faso, Daniel Noboa of Ecuador, and Krystron Frustadóttir of Iceland.
Share this content:
Post Comment