The Montenegro Government has officially announced that the Special citizenship by investment (SCIP) will be open for applications by end of 2019 (Q4) and will be fully functional in 2020.
The Montenegro Citizenship by Investment Program started on 1 January 2019 and it will be limited to 2,000 investors over a 3-year period.
According to the government decision, applicants for citizenship must satisfy the following criteria
- EUR 100,000 donation to Development fund (and)
- EUR 250,000 investment in Real estate or development projects
- Total: EUR 350,000
EUR 5 million -10 million investment in five star hotels and resorts creating 50 to 100 jobs
In addition, the applicant must deposit
- 15,000 euros for an application for single applicant
- 10,000 euros for up to 4 family members, and
- 50,000 euros for each next family member,
The Donation funds from citizenship scheme will be allocated to the less-developed local self-government units and will be spent primarily on infrastructure and facilities which will bring some value to the north of the country.
Montenegro is a candidate country for EU membership in 2025 and plans to adopt schengen area membership after 2025.