Passport through investments – Montenegro
As a part of a long-term plan with the goal to boost economic activities and attract direct foreign investment, the Government of Montenegro announced the Economic Citizenship Program which is launched on October 1st, 2018. Although the detailed procedures and specifics are yet to be revealed, the concept of obtaining the passport by investment is clear: applicants are due to invest in various Government-approved projects within a country. The list of approved projects as well as a clear procedure is about to be announced by the Government.
Apart from development projects, new economic citizens will be offered the possibility to invest in hotels, agriculture and other spheres of the Montenegrin economy.
According to march statements, the Government will officially start the economic citizenship program in early 2020.
Applying terms for Montenegrin citizenship program:
It is agreed that the long-awaited Montenegro Economic Citizenship Program (MECP) will be opened for 2,000 applicants from non-EU countries. The project is determined to last for a limited period of three years.
Passport by investment concept encompasses the following points:
- Interested investors will have the option to either invest min €250,000 in the project in the undeveloped regions of Montenegrin north or
- to invest €450,000 in one of the development projects in developed southern regions
- The additional Government fee of €100,000 per application is also required and will be invested in a development fund which will be dealing with undeveloped regions of the country
- Through the whole limited period of the CBI program, the Government will have a specialized agency to manage the project.
EA properties will keep the pace with the progress of the economic citizenship program while making sure to offer to our clients all the consulting and mediating services they might need on the path to gaining Montenegrin residency.
Which projects will be allowed for Economic citizenship program?
Although there are no official statements, high chances are that allowed projects by the Government will be the exclusive developments in the bay: Porto Novi, Lustica bay and Porto Montenegro.
For the north of the country, there is still no information about the potential project that would be included in the program.
Link to Government Decision on Montenegro Economic Citizenship Program