The citizenship of Montenegro can be bought for half a million euros

On July 26, 2018, the government of Montenegro announced the launch of a program for obtaining foreign citizenship through investment, namely through participation in investment projects approved by the authorities of Montenegro. This program starts on October 1, 2018.

To obtain the citizenship of Montenegro, foreign investors will need to invest at least 450,000 euros in government-approved projects located in developed regions of the country. The minimum investment was set at 250 thousand euros in those government projects that are located in the less developed areas of Montenegro.

In addition, the Government of Montenegro will charge a fee of up to 100,000 euros for the application. This fee will be sent to a special fund for the development of underdeveloped regions of the country. The program will be managed by a specially created State body, which will include pre-approved marketing agents. They will be responsible for the successful implementation and promotion of this program, as well as for attracting attention to Montenegro from interested investors from around the world.

According to the research company Henley & Partners, which deals with citizenship issues in Montenegro, the number of participants in the program is limited to 2,000 applicants during the first three years of the program. It is also reported that after the submission of the application, the participant of the program (potential investor) receives the status of a permanent resident of the country within a month, and six months later - the citizenship of Montenegro.

In 2017 net direct investments of foreign citizens and legal entities to Montenegro amounted to $ 848 million. The largest investors were representatives of such countries as Russia, Norway, Italy, Azerbaijan and Hungary.

It is worth noting that Montenegro's passport is ranked 42nd in the Index of Passports of the World Countries, presented by Henley & Partners. Citizens of Montenegro can visit 123 countries without obtaining a visa, including the Schengen countries, Russia, Ukraine, Turkey and the UAE.