In July 2018, Montenegro announced the launching of a new migrational program for acquiring citizenship through investments. It will go into effect until the end of 2019. And it lets Montenegro become the fourth European country that offers such an opportunity for foreigners. Money obtained from this program will be invested in developing new regions, creating jobs for the local citizens, and raising the standard of living.
Conditions & 1 innovation
As of now, there are two amounts potential investors should pay attention to. To acquire citizenship, they are required to invest from € 450,000 if buying property in the coastal region and Podgorica, and from € 250,000 in the northern and central regions of the country.
Additionally to that amount, the investor has to make a charitable contribution of € 100,000 to state funds and pay a governmental fee that numbers € 15,000 for himself and € 10,000 for each family member. But, the number of relatives should not go over four people. If there are more, the price for each additional person will be € 50,000.
! One more innovation that surprised the buyers is that they can pay by cryptocurrency.
The common requirements are:
- The investor should be over 18 years, and provide the origin of the finances.
- He should not have EU citizenship and a criminal record.
- If the investor applies along with his family, he is allowed to take with him spouse, and children under 18 years old and older, but only if they are financially dependent on him and it is documented.
There is no need to hurry because the government of Montenegro did not approve the list of projects. It is rumored that they will create new complexes specifically designated for this migrational program that will be located most probably in the northern regions.
Today, there are few existing projects in Lustica Bay, Portonovi that are about to receive the accreditation where investors can already purchase apartments or villas.
Investors should bear in mind that a local passport obtained through this program will not allow them to work and live in the EU but they can travel to the countries of the Schengen area without a visa.
! Besides, Montenegro does not allow dual citizenship.