Fascinated with the benefits associated with citizenship and residence by investment programs, Montenegro is the latest nation to offer an investment program as a part of its ongoing efforts to attract foreign investment. The government declared its intention to launch the investment program in early Summer and has recently set the program’s parameters. The program which can channel significant capital into the economy as well as facilitate investors’ enjoyment of a favorable investment climate will be open to non-EU investors from January 1, 2019. It will be up and running for a limited period of three years during which 2,000 Montenegrin citizenship will be granted.
A number of investment pathways have been devised for non-EU investors. Should they opt for the real estate investment scheme, they may either make a minimum investment of EUR 250,000 in a real estate in undeveloped areas or purchase a real estate valued at a minimum of EUR 450,000 in developed areas. The donation option as the other alternative requires investors to contribute EUR 100,000 to the government fund. Additional government and due diligence fees also apply under each of the alternatives.
Considered as one of the expedient programs, the Montenegrin residence and citizenship program affords permanent residency in Montenegro within three weeks. After six months of permanent residency, foreign investors may obtain Montenegrin citizenship subject to certain requirements.
Although not a member of the European Union, Montenegro has been deemed to be the best prepared to join the European Union. In light of successful negotiations between the European Union and Montenegro, it is expected to become a EU member by 2025. Thanks to Montenegro’s WTO membership, foreign investors enjoy access to a market of around 800 million consumers.