In an effort to attract foreign direct investment to the country, the Government of Montenegro launched the Montenegro Citizenship by Investment Program in 2019. It is one of the few citizenships by investment programs launched by any European country.
The program is especially suitable for small-to-medium-scale investors who want to live and work in a European country with a warm climate. Beneficiaries of this program also enjoy visa-free travel to 26 countries of the Schengen Agreement.
In this article, we will discuss:
- Requirements of the program
- Costs of the program
- Benefits of the program
Requirements of Montenegro Citizenship by Investment Program
To qualify for the Montenegro Citizenship by Investment Program, the main applicant:
- Must be at least 18 years of age
- Must be a non-EU/EFTA citizen – i.e., a third-country national
- Must not have any criminal record in their native country
- Must not be banned from entering specific countries, such as the USA, the UK, Canada, or those in the European Union
- Must prove that the money being invested in the program was legally acquired
- Must have a good credit history
- Must be in good health at the time of application
Costs of the Montenegro Citizenship by Investment Program
Under the program, there are two routes to getting citizenship:
- Route 1: Invest €250,000 in the northern region
- Route 2: Invest €450,000 in the southern region
In addition to the investment money, there are some additional costs applicants have to bear:
- A government fee of €200,000 per application.
Half the government fee (€100,000) will be directed toward the country’s innovation fund. A special fund for the advancement of underdeveloped areas will receive the other half (€100,000).
- €15,000 fee for a single applicant
- €10,000 fee per dependent (up to 4 dependents)
- €50,000 fee per dependent (fifth dependent and above)
Benefits of the Program
Montenegro may not be as big as its neighbors, but it has a warm climate and friendly, hospitable people. The country’s beaches are spectacular and its other tourist attractions are equally picturesque. Plus, its amazing mountain ranges will take your breath away.
Here are other benefits of getting Montenegro Citizenship:
- Acquire visa-free or visa-on-arrival access to more than 120 countries and territories, including all Schengen countries, Turkey, the UAE, and Singapore.
- Freedom to live and do business in the US (under the E2 Treaty Program)
- Citizenship of a country that will be getting EU membership soon (probably as early as 2025)
- Citizenship of a NATO, WTO, and ECSO member state
- Relatively low income tax rate
- Citizenship of a country whose economy grew by 12.4 % in 2021.
Frequently Asked Questions
Which family members can be included in the Montenegro CBI program?
Spouses, children (under 26 years of age), and parents and grandparents (65 years or above) can be included in the same application for the Montenegro Citizenship by Investment Program.
What are the requirements for maintaining Montenegrin citizenship?
To maintain Montenegrin citizenship, applicants don’t have to spend all their time in the country. Their families are only required to live five days in the country over a 5-year period.
Does Montenegro allow dual citizenship?
While Montenegro doesn’t allow dual citizenship, individuals who have acquired citizenship under the CBI Program are exempt from this restriction.
Is Montenegro part of the European Union?
At the time of writing, Montenegro isn’t an EU member state. However, it has submitted its candidacy application and is widely expected to be granted EU membership in 2025.