Montenegro's Citizenship by Investment Programme Closing; Investors Rush to File Applications
27 October 2021
The Balkan nation of Montenegro first announced its Citizenship by Investment Program (CIP) in March of 2018. Fulfilling its three-year commitment, the Montenegrin government announced it would close the programme at the end of 2021 in preparation for its ascension into the EU.
The announcement of the closure created a hard deadline for those looking to obtain Montenegrin citizenship, as any applications submitted before this deadline will proceed under the current laws.
Investors wishing to become Montenegrin citizens, along with their qualifying family members, can still do so by making an eligible investment and submitting their application prior to the 1st of January, 2022.
A remarkable country
Montenegro is unique among countries offering CIPs, as it is the only European country with a programme that grants investors citizenship in less than a year.
The natural beauty of the country has also played a part in garnering the interest of foreign investors. Strategically located in the Balkans, Montenegro is centrally located, connecting the East to the West. Its mountainous climate, lush with thick forestry, complements the sandy shores of the Aegean, giving every nature lover a multitude of options to enjoy.
The country's natural beauty supplements a robust infrastructure, especially in the Southern Region, which provides its residents with a high standard of living in a safe, family-friendly environment.
The country is home to approximately 7.5 million diverse residents, with the dominant language being Montenegrin, but as it is a highly touristic destination, English and Russian are prevalent throughout the country's major cities.
Montenegrins live in harmony with various ethnic groups such as Bosniaks, Serbs, and Albanians. Religion is also diverse with Christianity (75%) and Islam (19%) being the most common faiths.
An elegant programme
As awareness grew for Montenegro’s Citizenship by Investment Programme, so did the number of applications.
The programme requires a contribution to the government of EUR 100,000 alongside a real estate investment of EUR 450,000 in the Southern Region or EUR 250,000 in the Northern region, making it one of the most attractive CIPs in the world.
The application process is straightforward and an application takes between 4-6 months.
Investors and their family members who submit their files prior to the programme's closure will obtain a passport that provides visa-free travel to over 120 destinations globally, including areas such as the EU Schengen Zone, China, Singapore, Hong Kong, and many others.
Another factor that makes the Montenegrin CIP special is that citizens of the nation are eligible to apply for the US E2 treaty visa, an economic resident permit the US government grants to citizens of select nations.
Apply before the deadline
Montenegro is already a member of NATO and the Council of Europe and is set to become the newest EU member in 2025. The country's accession to the EU means that investors who apply now could become EU citizens in a few years' time.
Contact RIF Trust today before the 1st of January, 2022 to book a comprehensive consultation and begin your journey towards becoming a Montenegrin citizen before time runs out.