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Montenegro extends its citizenship by investment program until the end of 2022
26/01/2022
The Montenegro Citizenship by Investment program for has been extended for another year
Good news for global citizens! The Montenegrin government has decided to extend its investor citizenship program for another 12 months.
Started by the former government, the new Montenegrin government had previously announced that it would end the program after the European Commission made the end of this program a condition for EU membership. Montenegro hopes to be a full EU member by 2025.
However, the global pandemic also hit the Montenegrin economy and foreign investment did almost come to a standstill in 2021, the planned final year of Montenegro's citizenship by investment program. Therefore, because investments in Montenegrin citizenship in 2021 have not met expectations, the government has now decided to extend the program, which allows a maximum of 2000 applications.
Tighter rules
The Montenegrin Citizenship Investment Program (CIP) allows applicants to obtain the Montenegrin citizenship through a real estate investment and by making a donation. The program is especially popular with non-EU nationals due to the high probability that Montenegro will be a full EU member country by 2025. Holders of the Montenegrin passport can then stay and work visa-free in any EU country. Montenegro allows family reunification and dual citizenship to all investors.
The new rules require an applicant to invest €250,000 in an approved real estate project in less developed and populated areas, such as northern Montenegro, or €450,000 if the real estate project is located in one of the popular coastal regions. In addition, applicants must donate €200,000 to government development and innovation funds. Applicants are required to provide a bank guarantee for half of the investment amount.
Moreover, Montenegro will not approve any new real estate projects for this investment program, but this is good news for the existing projects that still have available units. Read more about Montenegrin citizenship-by-investment on this page, or fill out the contact form below.