Moldova and Montenegro announced their new citizenship by investment schemes in 2018 both countries are expected to receive excess of 1 billion euros through the CBI schemes .

Moldova and Montenegro CBI programs should not be confused with each other.

The main difference between the two CBI schemes are..

  • Montenegro is a limited citizenship scheme only accepts 2000 applications. Moldova has no limits.
  • Both Moldova and Montenegro passports do not have a visa free travel to United Kingdom, Canada, Australia and United States.
  • Moldova is the cheapest citizenship by investment scheme while Montenegro is quite expensive
  • Currently both Moldova and Montenegro do not have EU membership and are not members of schengen area.

Here are the quick comparison between the programs.


Moldova Montenegro


Country Background Moldova actively pursues EU membership

  • Population: 3.5 million
  • GDP: $21 billion
  • Currency: Leu (MDL)
  • Capital: Chisinau
Candidate country for EU membership, expected to join EU and Schengen area by 2025

Population: 630,000
GDP: $11 billion
Currency: Euro
Capital: Skopje

Launch of CIPLaunched on Nov 3, 3018 (now closed)Launched on 1 Jan 2019 and will close by Dec 31, 2022
Name of SchemeMoldova Citizenship by Investment (MCBI) ProgramMontenegro Special Citizenship by Admission Program  (MSCAP)
CBI ModelDonation model tender won by by Henley & PartnersGrant + Investment model designed by Government of Montenegro within the institutions
Minimum Investment EUR 100,000 (donation) plus fees EUR 250,000 (investment in real estate development projects) + Contribute EUR 100,000 to Montenegro.

Total starts from EUR 350,000 onwards plus fees.

Applications currently openopens on Q2 2019
Citizenship time 3 months 3 months
Passport for familyyesyes
Residency requirementsnone3 weeks
Scheme limit No limit2000 applications running only for three years
Passport rank46th45th
Visa free countries122123
Visa free travelEurope, Russia, Turkey, Ukraine, Israel, BahamasEurope, Russia, Turkey, Argentina, Brazil, Chile, Israel, South Korea, Singapore, Ukraine, UAE, Uruguay, Hong Kong
Visa requiredUK, Ireland, Canada, United States, Japan, UAE, Singapore, Australia, New Zealand, South Korea, China, Australia, Brazil, Chile, South Africa, Thailand, Uruguay, Hong KongUK, Ireland, Australia, Canada, United States, New Zealand, Bahamas, China, Japan, New Zealand, South Africa, Thailand
E-2 investor visa to United States YesYes
E-1 visa to United States NoYes