Montenegro Citizenship by Investment Programme launched

Dr . Antoine Saliba Haig | 27 Jul 2018

Montenegro Citizenship by Investment Programme launched

The New Montenegro Citizenship by Investment Programme 

The Cabinet of Montenegro, at its 87th session has decided to launch a Montenegro Citizenship by Investment Programme which will grant citizenship of Montenegro in exchange of investment in the country. It has tasked the competent authorities in Montenegro to make all the necessary arrangements for the programme to be fully set as of 1 October 2018. The Montenegro Citizenship by Investment Programme will be open only for 2,000 applicants from only non-EU countries for a limit period of three years only.

The Montenegro Citizenship by Investment Programme will be regulated and managed by a government agency that will approve agents who would be licenced to market this programme and attract interested applicants. This citizenship by investment unit will also be working closely with specialized due diligence companies to ensure that only applicants of good standing are accepted.

What are the benefits of the Montenegro Citizenship by Investment Programme?

Located in Eastern Europe, Montenegro has a population of around 642,000, with the country actively pursuing European Union membership. The newly launched Montenegro citizenship by investment scheme will allow investors the benefit of travelling to over 125 countries without visa requirements, including all countries in Europe’s Schengen Area, as well as countries such as Russia, Turkey & Brazil.
 

Requirements – Montenegro Citizenship by Investment Programme

Individuals interested to apply for the Montenegro Citizenship by Investment Programme would need to fulfill one of the following options ::

  1. €250,000 investment in government approved projects in under developed regions of Montenegro, or
  2. €450,000 investment in government approved projects in developed regions of Montenegro

In addition, apart from one of these options, the applicant is also required to pay a fee of €100,000 per application which will go to a special fund used for developing under developed areas in the country.

Montenegro will thus be the second European country which will be launching a citizenship by investment programme this month, after Moldova also announced the launch of its citizenship programme. Chetcuti Cauchi welcomes the launch of such programmes, after as a firm it participated in a public invitation by the Montenegro government to submit a proposal for the design and implementation of a citizenship by investment programme.



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