Become a European Union citizen through Montenegro Citizenship and Passport Program

From the 1st of October 2018 the new Montenegro Citizenship program came into effect as a way to drive economic stimulation and attract foreign investment into the country. Officially known as the Montenegro Economic Citizenship Program (MECP) and often referred to as ‘Special Investment Scheme’ this new addition to the Citizenship through Investment options, is likely to appeal to a wide range of individuals who are seeking a secondary residence or citizenship. Pro-active investors could receive not only a Montenegro passport, but in the near future once Montenegro joins the EU, a European passport also.

The Montenegro Citizenship by Investment and passport program will be effective for 3 years from its commencement and be limited to first 2,000 applicants. This program offers a good opportunity to obtain a potential future European Union citizenship for an affordable investment.

The program requires an applicant to invest in development projects approved by the Government as well as pay a Government contribution. Investment into a development can either be €250,000 if it is in a developing area or €450,000 if it is located in a developed area. Government contribution is fixed at €100,000. Applicants can gain Montenegro residency permit in as little as 3 weeks, and citizenship within 6 months. The Montenegro passport has visa free access to 123 countries including the Schengen zone.

With its diverse landscape of rugged mountains, Adriatic Coastline and a stream of medieval villages, Montenegro has a lot to offer despite its modest size. Historically a nation of farmers, it has recently experienced rapid urbanization now with over 60% of the population living in an Urban setting. Montenegro is situated just south of Croatia on the Adriatic Sea and is bordered by Serbia, Kosovo, Albania and Bosnia & Herzegovina. The capital and largest city is Podgorica where approximately 30% of the total population of 622,000 live. Montenegro has a long, vast and detailed history and just recently in 2006 achieved its independence. Whilst not currently being one of the EU member states, Montenegro is working hard to meet the requirements and is expected to join the EU between 2019 and 2025.

FAQs on MONTENEGRO CITIZENSHIP BY INVESTMENT AND PASSPORT PROGRAM

What are the requirements of Montenegro Citizenship?

An applicant must invest either €250,000 in a government approved development (if in a developing area) or €450,000 (if in a developed area) and in addition pay a Government contribution of €100,000. This will allow for citizenship of the immediate family including spouse and children under the age of 24. A thorough due diligence check will be done by the Government and incremental fees for this as well as application fees for each family member also apply.

What is processing time for Montenegro Citizenship?

Montenegro permanent residency can be obtained in as little as 3 weeks, Montenegro Citizenship will take approximately 6 months.

Is Montenegro part of the EU?

Currently Montenegro is not part of the EU, however it is working towards becoming a member state of the European Union and this should be effective between 2019 and 2025. They have been using Euro as their currency.

After I achieve my citizenship, how long do I need to hold my investment in Montenegro?

Once you achieve your Montenegro citizenship you must maintain your investment for a minimum of 5 years to ensure that your Montenegro Citizenship is maintained.

How long does it take before I get a Montenegro passport?

You can have your Montenegro passport and citizenship within 6 months – initially you will receive your Montenegro permanent residency, so you can move to Montenegro as soon as this has been received.

What are the benefits of having Montenegro Citizenship?

The Montenegro passport offers visa free travel to over 123 countries including those in the Schengen zone. In addition, with your Montenegro citizenship you have the right to live and work there. And Montenegro is working towards its EU citizenship, once this is achieved your passport will also give you all the benefits of the EU.

Can I apply for Montenegro citizenship for all my family?

The Montenegro Citizenship by Investment Program is open not only to individuals, but also to the investor’s family including spouse and dependent children under the age of 24.

How do I apply for Montenegro Citizenship?

The application process is relatively straightforward. Terranova Global will provide you with a list of required documents and once these have been collated, we will process the application from start to finish on your behalf.

When I have my Montenegro Passport can I live anywhere within the EU?

At this stage Montenegro is not part of the EU. Until Montenegro joins the EU (predicted to do so between 2019 and 2025) it is no possible to live anywhere else other than Montenegro. The Montenegro Passport does however allow you to travel visa free within the Schengen zone.

What is the process to get a Montenegro Passport?

First of all, you will receive a Montenegro residency permit. This can be received in as little as 3 months, and once you have received this you are free to move to Montenegro. Approximately 6 months after this, provided all the criteria has been fulfilled you will receive your Montenegro Passport.

Does Montenegro have a strict due Diligence process?

Yes. It has been announced by the Montenegro Government that they will employ agents specialized with due diligence to do the checking of the interested applicants and in addition they will employ specialists in auditing and legal services to perform all additional checks on the candidates.

Where can I travel to Visa free with a Montenegro Passport?

You can travel to all Schengen countries visa free as well as Russia, Turkey and Singapore among others. Please note that in order to travel to USA, UK, Australia or Canada you will still require a visa.

Can I have dual citizenship if I apply for a Montenegro Passport?

Yes, this is possible. The Montenegro Government do not revoke your current citizenship, nor will they inform your home country of your new citizenship.

Can I apply for citizenship for my parents under my application?

At this stage based on the announcement by the Government, it is only dependents under 24 and a spouse that can be included on an application.

Under this Montenegro Citizenship by Investment Scheme do I need to reside in Montenegro?

No, there is no requirement to reside in Montenegro under this scheme, but it is recommended that applicants spend a minimum of 5 days over the 5 years following the receipt of citizenship in Montenegro, to avoid deprivation of citizenship.