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The government of Montenegro suspended this citizenship by investment program in 2023.
Obtain one of the world’s most powerful passports, as ranked by the 2024 Passport Power Index.
Travel visa-free or obtain a visa on arrival (VOA) or electronic travel authorization (ETA).
Expand your travel options with visa-free access to the Schengen Area in Europe.
As a Montenegrin citizen, you can live and work freely within Europe's Schengen Area and travel visa-free to countries such as Russia and Turkey, among others.
Montenegro gained sovereignty in 2006 and is a NATO member, part of the European Monetary Union using the Euro, and an official candidate for EU membership.
Through the Montenegrin citizenship by investment program, you and your family members can obtain Montenegrin passports.
Montenegro features pristine coastal areas with a Mediterranean climate, inviting you to a multilingual European region with a low cost of living.
Foreign investors who acquire Montenegrin citizenship through the Montenegro Citizenship by Investment Program are exempt from the country’s dual citizenship restrictions (Article 8 of the Montenegrin Citizenship Law), allowing you to obtain Montenegrin citizenship as a second passport option.
You will need to provide additional documents, including birth certificates, marriage records, bank statements, and others, for yourself as the primary applicant as well as for your family members, such as your spouse and dependent children.
A minimum investment of EUR 450,000 in government-approved development projects either in Podgorica (the capital of Montenegro) or in the coastal regions.
A minimum investment of EUR 250,000 in government-approved real estate projects in northern or central Montenegro, excluding Podgorica.
Additionally, a non-refundable government fee of EUR 200,000 per application is required. This fee is split, with half allocated to a special government fund for the development of underdeveloped areas and the other half supporting the Innovation Fund of Montenegro.
| Benefits | Challenges |
|---|---|
| Visa-Free Travel: Montenegrin citizenship offers visa-free access to more than 120 countries, including numerous European nations and EU member states. | Restricted EU Mobility: While Montenegro is an EU candidate country, its citizens do not have unrestricted rights to live and work in the EU. |
| Low Taxes: Montenegro offers advantageous tax policies for permanent residents, featuring low personal income and corporate tax rates, which makes it an appealing destination for financial success. | Program Termination: The Montenegro Citizenship by Investment program was discontinued in December 2022 and is no longer available to new applicants. |
| Stable Property Market: The real estate market in the country is stable, providing luxurious properties at relatively affordable prices, which makes it an appealing choice for both investors and homeowners. | Real Estate Overvaluation: The government's pre-approved list of investment properties may result in inflated prices, causing properties to be overpriced and foreigners to pay a premium. |
| EU Integration: Montenegro is on course for potential EU membership by 2025, which will provide its citizens with improved economic opportunities, increased mobility, and enhanced international cooperation. | High Public Debt: Montenegro has one of the highest public debt-to-GDP ratios in the region, currently at approximately 71%, which could affect the country’s economic stability. |
| Growing Economy: Montenegro's economy is showing consistent growth, creating opportunities for investment, entrepreneurship, and employment. |
The Montenegro Citizenship by Investment Program and the Caribbean Citizenship by Investment programs differ in several key ways. Here are some important factors to consider:
| Â | Caribbean CBIs | Montenegro CBI |
|---|---|---|
| Investment Amount | The Caribbean CBI programs offer lower minimum investment requirements, with options starting at USD 100,000 in Antigua and Barbuda, Dominica, and St. Lucia. | The Montenegro CBI program necessitates a minimum investment of EUR 200,000 in a private investment fund for a duration of at least two years. |
| Travel freedom | Caribbean citizenship programs offer visa-free access to over 140 countries and territories, though the exact list of countries may vary by program. | Montenegrin citizenship permits visa-free travel to 127 countries, including those within the Schengen Area. |
| Processing time | Caribbean programs typically have shorter processing times, with some offering fast-track options that can reduce the duration to 40 to 60 days. | The Montenegro CBI program typically takes about three to five months to issue a passport to approved applicants. |
| Business opportunities | The Caribbean Islands also present business opportunities, especially in the tourism and real estate sectors. | Montenegro is part of the European Economic Area, granting access to a vast single market with promising business opportunities. |
| Investment options | Caribbean programs usually provide a range of investment options, including real estate, business ventures, and non-refundable contributions to a national fund. | The Montenegro CBI program centers on development projects, providing a more targeted investment option. |
The legal foundation for this program was outlined in Article 12 of the Montenegrin Citizenship Law. The Montenegrin government suspended this citizenship by investment program in 2023.
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