Montenegro’s Citizenship by Investment programme was due to expire on 31st December 2021, but at the last minute, the government decided to extend the programme for a further year. However, the programme as we previously knew it has been amended for 2022 with some tighter rules in place.
Previously, Montenegro’s Citizenship by Investment programme required a total minimum investment of €350,000, plus fees. This is divided into two parts, a real estate investment of €250,000 – €450,000, depending on the region, plus an additional government donation of €100,000. The donation requirement has now been increased to €200,000, with the additional €100,000 going to an Innovation Fund. With the new donation requirement of €200,000, plus the real estate requirement, the minimum cost will now start from €450,000, plus fees. Investors must also provide a bank guarantee of at least half of the investment amount to the government within 30 days of initiating the application.
In addition to the above changes, the government also stated that they will not be approving any new real estate projects for the programme, which is great news for the existing developments which still have available units. The current government-approved projects are estimated to be worth a staggering €450 million and should create a minimum of 2,200 new jobs for the country.
A Citizenship by Investment application in Montenegro takes approximately 4-6 months to be processed. Once approved, Montenegrin passport holders will gain 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 likely to substantially increase once it is granted EU membership. To find out more about the programme, please contact our experts.
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