Montenegro Citizenship by Investment 2019

The Montenegro Government announced Special citizenship acquisition program (SCAP) through investment at a cabinet session on Nov 22, 2018. This citizenship scheme is special because it will only run for three years until 2021 and limited to 2000 applications to foreigners.

The new citizenship by investment scheme was published in Official Gazette of Montenegro 34/10, 40/16 and 62/18.

The new economic citizenship scheme came into force on Jan 1, 2019 and will close on Dec 31, 2021 and is limited to only 2000 family applications according to the government decision.

It is expected applications for investment with commence from Q2 2019.  CIP applications can be submitted through authorized agents approved by government. The citizen by investment scheme was designed by government itself and will be more transparent and efficiently run.

Montenegro is expected to join EU and Schengen area in 2025 after that Montenegrin passport will become a full EU passport offering full EU citizenship to investors. Therefore it is a great future investment.

Citizenship by Investment

The Montenegrin citizenship by investment program will be based on Grant  + Investment model paid into escrow account.  Permanent residency will be issued within 3 weeks and foreign investors qualify for Montenegrin citizenship and passport within 3-6 months

1. Grant

EUR 100,000 one time contribution per application for to development of Montenegro government units

2. Investment

The investment is based on real estate or development projects in Montenegro

• EUR 450,000, for the purpose of investing in one of the development projects in the Capital City of Podgorica or the coastal zone of Montenegro; or
•  EUR 250,000, for the purpose of investing in one of the development projects in the northern or central region of Montenegro, not including the Capital City of Podgorica.

3. Additional fee

• EUR 15,000.00 for the applicant;
• EUR 10,000.00 for each family member, up to four members at maximum;
• EUR 50,000.00 for each next family member.

Total costs

Please expect the total costs for Montenegro citizenship by investment EUR 350,000 plus fees (no less than this)

Large Hotel and Tourism Development Projects

The follow large investment projects in Montenegro in construction, tourism and agriculture also qualify for citizenship by investment in Montenegro.

Development projects involve construction of five star hotels or mixed-type complex in the coastal region or the Capital of Podgorica or at least four stars in the northern or central region save for the Capital of Podgorica,  requiring atleast

• Minimum of investment in the amount of EUR 15,000,000 in the coastal region or the Capital of Podgorica or
• Minimum investment in the amount of EUR 5,000,000 in the northern or central region save for the Capital of Podgorica, and
• Employing at least 80 employees in the coastal region or the Capital of Podgorica or at least 25 employees in the northern or central region save for the Capital of Podgorica,
• Having at least 60 accommodation units in the coastal region or the Capital of Podgorica or at least 35 accommodation units in the northern or central region save for the Capital of Podgorica

Agriculture and Processing Industry Development Projects

Development projects in agriculture and processing industry approved by Government

1) projects in the field of agriculture, which meet the conditions determined by the public administration body in charge of agriculture and rural development;

2) projects in the field of processing industry, meeting the conditions determined by the public administration body in charge of economy.

Citizenship can be Revoked

The Government may revoke the citizenship granted under the special program if false or concealed information or failing due diligence checks. The invested funds will not be refunded if citizenship is revoked. Further those who have been convicted for criminal offenses for more than a year cannot apply for the citizenship scheme

E1 and E2 Treaty with US

Montenegro has E1/E2 treaty with United States. Citizens of Montenegro can apply non-immigrant E-2 investor visas to visit US and this is subjected to interview and other conditions such as resident status. The US embassy requirements available here

Montenegro has the oldest E1 and E2 treaty with United States, signed way bay back in 1882

The main difference between E1/E2, one is treaty trader and other is treaty investor

• E-1 –  Treaty trader, spouse or child – For businesses and individuals engaged in substantial international trade between the US and the treaty trader country. The volume of trade must be sufficient to provide employment for a number of people in the United States and must constitute the majority of the trader’s international trade.
• E-2  – Treaty investor, spouse or child – For those who have made a significant investment in a US business in which the investor has at least a 50% ownership. The investment must be sufficient to provide employment for a number of people in the United States and must be in an active US business.

To qualify for E-2 classification, the treaty investor must:

• Be a national of a country with which the United States maintains a treaty of commerce and navigation
• Have invested, or be actively in the process of investing, a substantial amount of capital in a bona fide enterprise in the United States
• Be seeking to enter the United States solely to develop and direct the investment enterprise. This is established by showing at least 50% ownership of the enterprise or possession of operational control through a managerial position or other corporate device.

Dual Citizenship

Montenegro allows dual citizenship for its economic citizens.

Montenegro Passport

Montenegro has the 45th powerful passport in the world, according to latest HPI Index 2018.

Montenegrin passport has 123 visa free travel destinations including

About Montenegro

Montenegro is a beautiful country in Southeastern Europe on the Adriatic Sea with a population of 640,000 with GDP $11.7 billion as of 2018.  Only 44% of population are Montenegrin citizens and the rest are from nearby countries.

Montenegro is  classified by the World Bank as an upper middle-income country, Montenegro is a member of the UN, NATO, the World Trade Organization and is a founding member of Union of the Mediterranean.

Montenegro is a candidate country for EU membership and expected to join EU and Schengen area in 2025.  Montenegro uses the Euro as its national currency. Podgorica is the capital and largest population .

Montenegro has both a picturesque coast and a mountainous northern region with 1.6 million visitors and a major contributor to GDP. Montenegro has experienced a real estate boom in 2006 and 2007, with wealthy Russians, Britons and others buying property on Montenegrin coast. Montenegro received, as of 2008, more foreign investment per capita than any other nation in Europe.

Due to foreign direct investment, the Montenegrin economy has been growing at a very fast pace in recent years.  Banking sector of Montenegro is highly concentrated with high share of foreign capital. Banks in Montenegro usually operate as universal banks, providing retail and corporate banking products and services. Montenegro provides attractive incentives to businesses with foreign investment.

Please contact us for more details about Montenegro citizenship by investment program