Montenegro’s long-awaited Citizenship by Investment programme is now open for business and the first few applications have been submitted. The programme, which went live on 1st October 2019, aims to generate direct foreign investment for the country.
There are two investment options. Applicants will need to donate €100,000 to the government development fund, plus a real estate investment of either €250,000 (approved projects in less developed areas) or €450,000 (approved projects in developed areas). The programme will be open for just three years and the government will only be accepting 2,000 applications during this period.
A Montenegrin passport will enable the holder to travel freely to 125 countries including the EU Schengen Zone, Russia and Turkey. Whilst Montenegro is not yet a member of the European Union, it is currently in negotiations and is hoping to join the EU in around 7 years. Once it becomes an EU member, Montenegrin citizens will then be able to live, work and study in any other EU country without time restraints. This would be the ideal programme for applicants who are just looking to widen their travel abilities and perhaps reside in Montenegro. For those looking to gain residency or citizenship in an EU member country, we would suggest considering programmes such as Portugal or Cyprus instead. For more details please contact our team.