Rasheed Alkhanji QICMS
Published 02:29 PM 2 January 2022
Updated 12:24 PM 16 March 2022
Montenegro Citizenship By Investment Program is valid until December 2022
Montenegro has decided to extend its Golden Passport Program, which offers citizenship in return for a major investment until December 2022.
1. Can you obtain citizenship in Montenegro?
Yes, you can through Montenegro Citizenship By Investment Program.
2. Is Montenegro passport powerful?
Montenegrin citizens have visa-free or visa on arrival access to 123 countries and territories including Hong Kong, Russia, Singapore, Turkey, the UAE, and the countries in Europe’s Schengen Area.
3. What are the major benefits of obtaining a Montenegro Passport?
Like most CBI programs, Montenegro allows the main applicants to include their spouses and children up the age of 18 years under one family application. In addition, a major attraction of Montenegro’s CBI program is the fact that there is no language test or requirement to reside in Montenegro, giving this program another advantage over most of the EU Golden Visa programs and CBI options. Furthermore, Montenegrin citizens qualify for E-1 (treaty trader) and E-2 (treaty investor) visas to enter United States. These are non-immigrant US visas, unlike EB-5, these visas require low investments and fastest visa processing times.
After European Union (EU) accession, as a Montenegrin citizen you will be granted the same rights as other EU members, such as free movement to work, study and reside anywhere in the EU. Hence, by 2025 a Montenegrin citizen will be able to relocate temporarily or permanently to any country of the EU zone.
4. Does Montenegro allow dual citizenship?
Yes, dual citizenship is allowed in Montenegro.
5. How much does Montenegro citizenship by investment cost?
The Montenegro Special Citizenship by Investment program for foreign investors was introduced back in January 2019, when the government of Montenegro offered passports to investors who invested at least EUR 250,000 in undeveloped regions in the north of the country or EUR 450,000 in more developed regions in the center and south. The applicant must hold her / his investment for at least 5 years.
6. What are the Investment options for Montenegro citizenship by investment program?
Donation of EUR 100,000 in a Government Fund.
Real estate investment of EUR 250,000 in the northern or central region of Montenegro.
Donation of EUR 100,000 in a Government Fund.
Real estate investment of EUR 450,000 in the Capital of Podgorica or the coastal region of Montenegro.
7. Montenegro citizenship by investment program revenues
We do not have details what Montenegro earned from the citizenship by investment program between 2019 and 2021.
8. Russia and China on Montenegro citizenship by investment program Top 2
The absolute leaders in the number of new Montenegrins are the Russians and Chinese. According to Montenegro government statistics, so far out of 2000-limited quota, 108 people benefited from the Montenegro citizenship by investment program, giving them visa-free travel across the Schengen Area. Mostly from Russia and China, have attained Montenegrin passports by purchasing apartments in condominium hotels in coastal and mountain towns or by donating money to underdeveloped areas.
9. Is this the end for Montenegro Citizenship by Investment?
On Thursday December 30th , 2021, Montenegro’s government extended its citizenship by investment program until December 2022. The government said that the Montenegro Citizenship by Investment Program (CIP) now has harsher requirements for gaining economic passport.
In the next month, all investors that previously applied for Citizenship by investment program (CIP) in Montenegro must submit to the Government a bank guarantee – for 50 per cent of the investments prescribed by the Montenegro Citizenship by Investment (CBI) . All new applicants must pay EUR 100,000 to the state budget and another EUR 100,000 for regional development, the government said in a press release.
On March 31 , 2021 , the new government that came to power after the electoral defeat of Djukanovic’s Democratic Party of Socialists DPS announced that the Citizenship By Investment Program in Montenegro will be terminated by the end of 2021 .Nevertheless, on December 30th , 2021, Minister of Economic Development Jakov Milatovic said the Montenegro Citizenship by Investment Program was helping the country’s development.
Milatovic posted on Twitter that the Montenegro Citizenship by Investment Program will make Montenegro a regional leader in allocating money for innovation. By developing tourism, we strongly support the development of innovation – as the foundation of accelerated economic development.
Interested to know more?
The Montenegro CBI will remain open and last applications will be received until Dec 31, 2022 after this date the program will be permanently closed.
QICMS provides guidance and representation through all the procedure until the approval and the issuance of the Montenegro passport. Become a citizen of Montenegro and get a passport offering visa free travel to 123 countries.
If you have any questions concerning the Montenegro citizenship by Investment Program or have a pending Montenegro citizenship by Investment application and want to find out more information, please kindly contact us.
With just twelve (12) months to go until Montenegro’s Citizenship by Investment program closes, we urge potential applicants to initiate their application sooner, rather than later to meet this pending deadline and quota. Should Montenegro decide to run any future investor visa programs following their accession to the EU, the cost and requirements are likely to increase.
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