Montenegro launching new citizenship-by-investment program in October 2018
Montenegro launching new citizenship-by-investment program in October 2018
Montenegro is a small country in Southern Europe with incredible natural beauty and stunning Adriatic beaches, magnificent mountains and forests. The rich cultural and historical heritage of the country is combined with modern benefits. Montenegro has accepted the euro as currency, and Montenegro as a NATO member, is in the process of joining the EU in 2025.
In 2016, a new citizenship investment program was announced by the Montenegro government, helping investors to quickly track their applications for Montenegro passports. Because those with Montenegro passports have a visa-free access to a number of countries in Europe, including the Schengen region. Besides this, Montenegro citizenship allows visa-free travel to more than 100 countries, including the Schengen region in Europe and Russia. According to the World Bank, Montenegro is one of the fastest growing economies in the Balkans and is quickly becoming an important place for some of the world’s most important industries due to its strategic position.
Finally, Montenegro decided to join the list of countries which were seeking to attract foreign direct investment by giving them citizenship through investment programs. On 26th July, Montenegro government announced that it will open the long-awaited Citizenship Investment Program (CIP) on October 1 this year. The minimum investment amount for this program has been set as 250.000 euro with an additional state fee of 100.000 euro per application.
You can see the original press release from the link below:
http://m.portalanalitika.me/clanak/308148/za-crnogorsko-drzavljanstvo-pola-miliona-eura
Montenegro economic citizenship program will be the subject of 2,000 applicants from non-EU countries for a limited period of three years.
The persons concerned will have the following options: To invest 250,000 euro in one of the development projects approved by the government in less developed regions of Montenegro or to invest 450,000 euro in one of the development projects previously approved by the government in the developed regions of Montenegro. The Government will also charge a fee of 100,000 euro per application. This fee will be directed to a special fund for the development of underdeveloped areas. The Montenegro government expects this program to lead to an increase in economic activity and capital movements in the country. What makes this program more attractive is the speed of application which allows for a permanent residence status within 3 weeks. Citizenship will then be given within 6 months as a permanent residence.
If you would like to know more about Montenegro and investment opportunities in Montenegro, please feel free to contact us for more information and visit our website at https://www.homeinmontenegro.com/en to see available for sale properties.
