Montenegro Citizenship by Investment | Expire or Extend?

Launched in January 2019, Montenegro’s Citizenship by Investment programme was initially set to run for a three year period which is scheduled to expire on 31st December 2021. There is no indication at this stage whether or not the programme will be extended, changed or expire as originally planned at the end of the year. The government also set an application quota to allow just 2,000 applicants to be approved for the programme during these three years.

As we enter what could potentially be the final year of the programme, we wanted to remind you of the benefits that a second citizenship in Montenegro can bring.

EU MEMBERSHIP PENDING

Montenegro is in the midst of its application to become a fully-fledged member of the European Union. In June 2020 they began the final chapter of negotiations with the EU and it is estimated that Montenegro’s accession to the EU will be granted by 2025. This programme offers a much more cost-effective solution for those who may not have the budget for a direct EU Citizenship programme, such as Malta (€1.2M). Once Montenegro is granted EU membership, any future CBI programme that the country may offer is likely to be much higher in costs than it is now.

PASSPORT VALUE

A Montenegrin passport allows visa-free travel to 137 countries and territories worldwide, according to La Vida’s Passport Value report. This includes the EU and Schengen Zone, Russia and Singapore. Montenegro’s passport value is also likely to substantially increase once it is granted EU membership.

TWO INVESTMENT CHOICES

Montenegro offers two real estate investment options. Applicants can purchase approved real estate in the north of the country from €250,000, or they can opt for approved projects in the southern coastal regions from €450,000. In addition to the real estate investment, applicants will also need to make a €100,000 government donation + legal and processing fees.

Full Family Citizenship

Like most CBI programmes, Montenegro allows the main applicant to include their spouse and children up the age of 18 years under one family application.

No Minimum Stay or Language Test

A major attraction of Montenegro’s CBI programme is the fact that there is no language test or requirement to reside in Montenegro, giving this programme another advantage over most of the EU Golden Visa programmes and CBI options.

With just ten months to go until Montenegro’s Citizenship by Investment programme closes, we urge potential applicants to initiate their application sooner, rather than later to meet this pending deadline and quota. Should Montenegro decide to run any future investor visa programmes following their accession to the EU, the cost and requirements are likely to increase. For more details on the programme, please contact our expert advisors.