The economic citizenship program will be open for applications from Jan 1, 2019, and the scheme is limited to 2000 applications and will run for three years. Montenegro is expected to join the EU by 2025 and after that, the country becomes a part of the Schengen area. The newly launched citizenship scheme is expected to raise over 700 Euro million-plus creating job and raise the living standards in the country.
To qualify for citizenship, foreigners qualify for citizenship by investing in real estate property in developed or under-developed areas in Montenegro.
Applicants must pay the following:
1. 450,000 Euro to the account of the state of Montenegro for the projects in the coastal region and Podgorica, or
2. 250,000 Euros in the northern and central region except Podgorica
100,000 Euros government fee intended for less developed areas.
15,000 Euros for an application for a single applicant
10,000 Euros for up to 4 family members, and
50,000 Euros for each next family member
10,000 Euros for Due Diligence
A fee will be provided
The minimum investment amount is €550,000 if purchasing real estate in the south of Montenegro, and €350,000 for investing in northern property.
Montenegro will grant permanent residency under the scheme in 3 weeks and will issue citizenship and passport after 6 months to qualified investors who meet all the criteria. The government announced this economic citizenship scheme will be designed in the house within the institutions and outside influence will not be allowed.
As of 2018, Montenegrin passport has visa-free travel to 123 countries (EU, Russia, Turkey, etc.)Please note this
passport has no visa-free travel to the UK, Canada, USA, etc.
To qualify for residency or citizenship, applicants must fulfill one of the investment options in addition to meeting
the following criteria:
o Be a non-EU citizen.
o Possess a valid passport or another foreign travel document.
o Submit all documents and information required under the program and successfully pass the due diligence and background verifications, including the ones relating to the source of funds used to make the qualifying contribution and investment.
o Hold no criminal record
o Apply through one of the licensed agents under the program.
Applicants must make a contribution of Euro 100,000 in the form of a government fund donation
In addition to the donation, applicants are required to invest in approved real estate projects in the country.
Depending on where the selected projects are, applicants will have the choice of the following investment
Fees are based on the number of dependents, country of the region, residence and other retained services, as well as service and legal fees related to the submission of application for the main applicant and qualifying family members. The advisory fees are non-refundable and are payable in one installment.
All application fees charged by the Montenegro government and by the licensed agents are subject to change.
For the purpose of the costs of the procedure, applicants must make payment to the program in the amount of:
Applicants must cover the fees for the due diligence as announced by the program administration.
The following table breaks down the program and application process to three stages with a total of 6 steps. Each step must be completed before continuing to the next.
Choose an agent licensed for the program to get qualification approval.
Collect application documents and pay processing fees
The file is received by the program administration. The application is reviewed for administrative compliance.Due diligence and background verification is performed.
The decision in principle is delivered .In case of approval: Applicant is invited to proceed with the contribution and the investment.
Travel to Montenegro to submit residency and citizenship application and have biometrics collected.
Receive naturalization certificate (s) in Montenegro. Apply for and collect passport(s).