On March 18th, 2021, the Government of Montenegro announced their Citizenship-by-Investment Programme will expire and therefore close on December 31, 2021.
When the programme was first launched it had a three-year window but it was not in a position to accept applications until the end of year one. As such, the Montenegro citizenship programme has only recently started to gain momentum as more clients are discovering the many benefits the passport provides now and in the future once the country ascends to the European Union.
The Montenegro Citizenship-by-Investment Programme was launched to help stimulate the economy through direct foreign investment. The country offers two routes to citizenship: a €450,000 investment in government-approved real estate investment in the capital Podgorica or south of the country, or a €250,000 government-approved real estate investment in the north of the country. For either option, the main applicant must also make a contribution of €100,000 to the government.
With lower-than-expected applications submitted to date and the upcoming accession plans of Montenegro into the European Union, this decision was made not to renew the programme. For clients interested in acquiring Montenegro citizenship they must apply prior to the end of the year.
Located in the Balkans, just south of Croatia, the country of Montenegro sits on the Adriatic Sea with Italy across the water. This stunningly beautiful country is accentuated by rugged mountains and over 100 beaches along the coastline. There are many direct flights to Montenegro and major cities in Europe, CEE and Russia are within 3 hours, Istanbul is 1 hour 45 mins and Dubai 6 hours.
Montenegro is a democratic country that recently joined NATO and is on course for accession to the EU by 2025. The passport currently affords visa-free travel to over 120 countries. Should it join the EU as planned, this number will certainly increase substantially. In addition, Montenegrin citizens can apply to the USA via an E-2 visa.
If you would like more information or to start your Montenegro Citizenship-by-Investment application before December 31, 2021, don’t delay and contact us today.