5 August 2018 – Economic programmes are allowing foreign nationals to legitimately purchase citizenship or a residency permit – in return for a substantial investment. These programmes have been in place in Montenegro as well and if you want to become a Montenegro citizen, you can do it for a 450,000 EUR investment in an already-developed part of the country, and for a 250,000 EUR investment in the north of the country, plus fees in the amount of 100,000 EUR. But according to analysts, the most important thing is that the citizenship creates new job opportunities and growth in the economy.
Nowadays, many countries offer their passports under ‘citizenship-by-investment’ programmes, starting at around several hundred thousand EUR to over 2 million EUR.
Countries opening up this kind of citizenship to foreign nationals are Cyprus, Malta, Greece, Austria, the United Kingdom, Portugal, Spain, Switzerland, Bulgaria, Hungary, the United States of America, Australia, Singapore, New Zealand, etc.
For a quick recap: on 26 July 2018, the Government of Montenegro adopted the decision to join these countries. It approved the information on the programme of acquiring Montenegrin economic citizenship and ordered institutions to create conditions for its application as of 1 October. The Government is going to require payment of a 100,000 EUR fee for each application, and the money will be transferred to a special fund (fund for development of less-developed areas). The Governmentt will be granting the economic citizenship to not more than 2,000 of the most eligible applicants from non-EU countries, lasting for a 3-year period.
The Government also intends to engage renowned due diligence agents who will be checking all the interested applicants, as well as some of the renowned audit institutions/legal advisers who will be performing all the other checks. This new programme is just a part of constant government’s efforts to attract foreign investments and the government itself expects that this will contribute to increased economy activity and cash flows.