Montenegro Citizenship Programme details out

Gov Press Conference sheds more light on upcoming Montenegro Citizenship Programme

Dr. Antoine Saliba Haig co-authored with Jean-Philippe Chetcuti | Published on 22 Nov 2018

Montenegro Citizenship by Investment Programme launched

The Montenegro government has just announced more details on the Montenegro Economic Citizenship Programme (MECP) in a press conference today where Mr Milutin Simovic, Vice President for Economic Policy & the Financial System and Mr Pavle Radulovic, Minister for Sustainable Development & Tourism, explained the government's vision for the Montenegrin Citizenship programme. 

Requirements of Montengrin Citizenship

The requirements for investors to obtain citizenship in Montenegro will be the investment in real estate as well as a donation of €100,000 to a government fund. The investment in real estate varies on whether the property is situated in the undeveloped region or a developed region. The value of the property should be at least:

  • €250,000 if the government approved project is situated in the central or northern part of Montenegro.
  • €450,000 if the government approved project is situated in Podgorica or in the south of Montenegro.

Speaking about the criteria for the projects to be invested, in the field of tourism, the minister said that they are hotels or mixed tourist complexes in the Primorje region and Podgorica with at least five stars, at least 60 accommodation units, minimum investment of €15,000,000 and at least 80 employees. In the Northern and Central Region, except for the capital of Podgorica, the criteria are: a hotel or a mixed tourist complex of at least four stars, at least 35 accommodation units, a minimum investment of five million euros and at least 25 new employees.

In addition, the applicant must deposit €15,000 for the application for himself, €10,000 for a maximum of four family members, and €50,000 for each additional family member.

Benefits of Montenegrin Economic Citizenship

The main benefits of applying for the Montenegro Economic Citizenship Programme include the following:

  • Acquisition of citizenship within 6 months
  • Dual nationality allowed
  • No requirement to learn the language
  • Candidate country for EU – expected to join by 2025
  • Visa free travel to the European Schengen Area
  • Visa free travel to over 120 countries inc Russia & Turkey

Expected Launch Date

The programme will be officially launched in January 2019 and thus will be accepting applications shortly. As the demand for the MECP is considerable and the programme will be open only for 2,000 applications for a time period of three years, Chetcuti Cauchi Advocates is accepting pre-launch reservations for investors interested in the Montengro Citizenship Programme.

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