The list of development projects in the tourism sector for obtaining a Montenegrin passport under the economic citizenship program has been expanded with two new properties — the President Hotel in Budva and an aparthotel in Tivat. This decision was made by the Government at a recent session, following a proposal from the Ministry of Economic Development and Tourism.
The planned investment in Budva предусматривает the construction of a five-star hotel in the immediate vicinity of the city marina and the Old Town, based on a mixed business model, with 154 accommodation units and an estimated value of EUR 51.37 million. The investor is ALK Nekretnine from Podgorica. The new hotel is expected to create 123 new jobs.
The hotel is scheduled to open on May 1, 2026. According to forecasts, the investment should pay off over 12 years of project implementation.
A consortium consisting of ALK Montenegro and Sofir plans to build a five-star hotel under a condo business model in Tivat, in the immediate vicinity of the seafront and the city’s main marina. The property will comprise 77 accommodation units, and its estimated value is EUR 22.77 million. The investors plan to create 82 new jobs. The plan provides that all works will be completed no later than March 31, 2026.
A bank guarantee in the amount of one million euros was provided for both projects.
The state program for obtaining Montenegrin citizenship in exchange for investment started in early 2019 and will last until the end of this year, as the European Commission recommended that Montenegro abolish the scheme of granting citizenship to investors due to the risks it poses. To date, the program has brought in EUR 310 million.