Ten applications for citizenship have been verified and are in the final stage of review, the country’s Ministry of Internal Affairs said. So far, no passports have been issued under the program.
The implementation of the project to grant Montenegrin citizenship in exchange for investment began on October 1, 2019. The program runs for three years. Interested candidates must invest 250,000 euros in one of the projects in an underdeveloped region of the country or 450,000 euros on the coast.
The list of priority sectors includes infrastructure, tourism, agriculture, and manufacturing. The program quota is 2,000 people.
The application fee is 100,000 euros. This money is non-refundable regardless of the decision, whether positive or negative. Buying property in Montenegro does not entitle one to citizenship.
Among the projects submitted to the Investment Agency are the Kolašin Resort & Spa, Breza, Bjelasica 1450, and K16 condo-hotels in Kolašin, the Kraljičina plaža hotel near Sveti Stefan, and the Durmitor Hotel and Villas complex in Žabljak. Detailed information about the properties can be foundin the “For Citizenship” section on our website.
The pandemic slowed the implementation of the program, Montenegro’s Ministry of Internal Affairs explained. In February, Russian media reported that the first applicationhad been approved for an investor from the UAE.
Even after passports are issued, the names of their holders will not be disclosed. Montenegro’s personal data protection law prohibits publishing this information.Source.