Montenegro is the latest country to launch a citizenship by Investment program. It is located in southeast Europe in the Balkan region. The program started on January 1, 2019. Montenegro had in the past offered economic citizenship to investors from 2008 to 2011. This new CBI program will be active until 2021, at the date the Montenegrin government expects to join the EU. Only 2,000 applicants are expected to profit from the citizenship scheme. Currently, Montenegro’s passport enables visa-free to Europe for 90 days in a 180-day period. Montenegro is not part of the European Union but has applied to become a member, and the country is expected to be the next country to join. Its nationals will then gain freedom of movement across the Union.
Applicants are allowed to include their spouse and minor children.
Applicants may acquire Montenegrin citizenship by admission on the basis of the special program if:
1) They have transferred funds to cover the costs of the procedure to the account of the competent authority, in the amount of:
– EUR 15,000 for the applicant,
– EUR 10,000 for each family member, not exceeding found family members,
– EUR 50,000 for each following family member;
2) They have deposited EUR 100,000 to the escrow account for the development of underdeveloped local self-government units for the purposes referred to in Article 18 of the Law on Regional Development;
3) They have deposited no less than EUR 450,000 to the escrow account for the purpose of investing in a 5-star hotel project in the capital city of Podgorica or the coastal region of Montenegro, or at least EUR 250,000 in a 4- or 5-star hotel project, for the purpose of investing in a development project in the northern or central region of Montenegro, not including the capital city of Podgorica;
4) In Montenegro or in another country, they have not been sentenced to unconditional imprisonment for a term of more than one year for a criminal offense prosecuted ex officio or any legal effects of a conviction for such criminal offense have ceased to apply;
5) They have been positively evaluated by the International Eligibility Evaluator, including evidence of the origin of funds to be transferred and invested in accordance with this decision.
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