The first holder of a Montenegrin passport obtained under the “Citizenship of Montenegro by Investment” program was a Russian citizen. According to the Investment AgencyApex Capital Partners, several applications have been approved so far, but passports had not yet been issued because the borders were closed.
However, as soon as Montenegro opened its borders after the quarantine, the Russian citizen was able to visit the country, provide the required biometric data, and receive his passport. It should be noted that the names of Montenegrin passport holders will not be disclosed. Montenegro’s personal data protection law prohibits publishing this information.
The implementation of the project to grant Montenegrin citizenship in exchange for investment began on October 1, 2019. The program is set to run for three years. Interested candidates must invest from 250,000 euros in one of the projects in the north of the country, or from 450,000 euros on the coast or in the country’s capital, Podgorica.
Priority sectors include infrastructure, tourism, agriculture, and the processing industry. The program quota is 2,000 people.
The application fee is 100,000 euros. This money is non-refundable, regardless of the decision made, whether positive or negative. Purchasing real estate in Montenegro does not provide an opportunity to obtain citizenship.
Citizenship applications can be submitted remotely; applicants need to come to the country once. At the same time, investors and their family members will not have to give up their original citizenship in favor of Montenegrin citizenship; they will be able to keep both.View the full list of authorized projects participating in the “Citizenship of Montenegro by Investment” program.