With the Special citizenship by investment program closing in just few months (by end of 2021), interest remains at all time high for investor citizenship in Montenegro.
Montenegro remains most attractive country to invest in Europe with the lowest prevailing property prices and the country has ambitions in pursuing European Union membership in a few years.
According to a latest report released by government, a total of 212 CBI applications have been filed for special investment program of Montenegro. These applications contributed 15.1 million euros invested in mostly hotels and resorts.
The CBI scheme requires a minimum of 250,000 EUR invested in Northern regions of Montenegro plus there is a Donation of EUR 100,000 to Government fund plus due diligence fee and application fees.
Here is a quick summary of june report
- Applications received – 212
- Applied for passport – 693
- Applications approved – 58
- Rejected applications – 17
- Total Investments – €15.1 million
Here are the breakdown of applications received by country
Russia – 284
China – 143
United States – 51
Libya – 41
India – 22
Egypt – 19
Pakistan – 17
South Africa – 11
Among the 15 approved real estate projects the most popular ones among investors, according to the report are
- Kolasin Resort
- Breza, Kolasin
- Boka Palace
List of Approved Real Estate
So far, the investment agency of Montenegro has approved 15 hotels and resorts for citizenship investments.
- Condo hotel „Kolašin Resort & Spa“, Kolašin – Approved 04. jul 2019
- Hotel „Breza“, Kolašin, po kondo modelu poslovanja – Approved 12. november 2019
- Hotel „Kraljičina plaža“, Miločer Budva, po mješovitom modelu poslovanja – Approved 12. november 2019
- Hotel „Durmitor Hotel and Villas“, Žabljak, po mješovitom modelu poslovanja – Approved 12. november 2019
- Hotel „Bjelasica 1450 Kolašin“, po kondo modelu poslovanja – Approved 12. march 2020
- Hotel “K16”Kolašin, po kondo modelu poslovanja – Approved 23. april 2020
- Hotel “Boka Place” Tivat, po mješovitom modelu poslovanja – Approved 18. jun 2020
- Hotel “Bobotov hotel and resort” Žabljak, po kondo modelu poslovanja – Approved 13. august 2020
- Izgradnja hotela „D“ sa depadansom „E“, Kolašin, po kondo modelu poslovanja – Approved 24. september 2020
- Izgradnja hotela „Elite Hotel & residence“, Kolašin, po kondo modelu poslovanja – Approved 24. septembar 2020
- Izgradnja hotela kompleksa „Montis hotel & resort“, Kolašin, po kondo modelu poslovanja – Approved 24. septembar 2020
- Izgradnja hotelskog kompleksa Amma resort Čanj, Bar, po mješovitom modelu poslovanja – Approved 6.novembar 2020
- Izgradnja hotela Black Pine, Mojkovac, po kondo modelu poslovanja – Approved 6.novembar 2020
- Izgradnja turističkog kompleksa Hotel sa vilama 4*, Žabljak – Approved 19.novembar 2020
- Izgradnja hotela “Cruiser” Budva, po kondo modelu poslovanja – Approved 27.novembar 2020.
The Government has announced simplified documentation procedure due to the ongoing covid-19 pandemic. Applicants and members of their family, the required documentation shall be submitted in the original, if they prove that, due to objective circumstances caused by the COVID 19 coronavirus pandemic, they could not carry out the procedure of full legalization in accordance with the Law on Legalization of Public Documents.
The Montenegro Special Investor Citizenship program is limited for only 2000 investors and closing permanently from 2021. The last applications must be received by Dec 31, 2021.