Montenegro is a country in Southeastern Europe. It is located on the Adriatic Sea and is a part of the Balkans, sharing borders with Serbia to the northeast, Bosnia and Herzegovina to the north and west, Kosovo to the east, Albania to the southeast, the Adriatic Sea and Croatia to the southwest, and a maritime boundary with Italy. Podgorica, the capital and largest city, covers 10.4% of Montenegro’s territory of 13,812 square kilometres (5,333 sq mi), and is home to roughly 30% of its total population of 621,000
The Government of Montenegro has renewed the country’s citizenship by investment programme until the end of 2022. Originally, the citizenship by investment programme of Montenegro was designed to accept the last applications until the 30th December 2021. The extension of Montenegro’s citizenship by investment programme was taken by the Montenegrin Cabinet who also decided to implement some changes to the requirements of the programme.
This decision has been taken upon an increase in the demand of applications mainly in the second half of 2021, especially because of the fact that, Montenegro is one of the candidates to join the European Union in 2025. Furthermore, Montenegro’s Minister of Economic Development held that the programme was helping the country’s development making it a regional leader in innovation and development and helping with the economic recovery after the covid pandemic.
Government Contribution Increased by €100,000
Applicants submitting their citizenship application under the revised programme are required to make a non-refundable contribution of €200,000 to Montenegro’s Government Fund, rather than €100,000 as was required until December 2021.
The Government contribution of €200,000 shall be used as follows:
- €100,000 for the development of less developed municipalities
- €100,000 for an innovation fund
Investment in a Government Approved Project
Applicants are still required to invest in a designated approved project for either €250,000 (projects in northern part of Montenegro) or €450,000 (projects in the coastal part of Montenegro or in the capital city Podgorica).
The minimum cost for applying for citizenship in Montenegro will now start at €450,000, in addition to due diligence and application fees. Investors are also required to provide a bank guarantee of at least half of the investment amount to the government within thirty days of submitting a citizenship application.
Montenegro Citizenship by Investment Programme Requirements
|Investment||Until December 31st, 2021||From January 1st, 2022|
|Non-refundable contribution||€ 100,000||€ 200,000|
|Purchase of real estate||€ 250,000+||€ 250,000+|
|Gov Application Fee||€ 15,000+ (depending on number of applicants)||€ 15,000+ (depending on number of applicants)|
|Gov Due Diligence Fee||€7,000+ (depending on number of applicants)||€7,000+ (depending on number of applicants)|
|Total||€ 372,000+||€ 472,000+/td>|
Benefits of Applying for Montenegro Citizenship by Investment
The main benefits of applying for citizenship in Montenegro include:
- Visa free travel to over 124 countries
- Citizenship of a country planning to join the EU by 2025
- Citizenship applications processed within 6 months
- Mediterranean climate with beautiful scenery
- Family members can also be included
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