Montenegro announces new prices for citizenship by investment

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Prabhu Balakrishnan
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Montenegro is relaunching its citizenship by investment program (CIP) once again after 2010. In 2010 Montenegro announced economic citizenship program for EUR 500,000

 

In 2019, the Government of Montenegro officially announced the decision to launch CIP from Jan 1, 2019 to Dec 21, 2021 to a limited set of 2000 applicants.

 

The new Montenegro Special citizenship by admission (MSCAP) will follow Grant + Investment model designed by Montenegro government.

 

1. Grant / Donation

 

A Grant shall refer to the amount intended for development of under-developed local self-government units. The amount of the grant shall be EUR 100,000 per application of an applicant for development of under-developed local self-government units.

 

2. Real Estate Investment 

The Investment shall refer to the amount intended for investment in one of the development projects from the Development Projects List that shall be defined by the  Government at the proposal of the line ministries, while the amount that a legal entity shall be obliged to pay is as follows:

  •  EUR 450,000, for the purpose of investing in one of the development projects in the Capital City of Podgorica or the coastal zone of Montenegro; or
  •  EUR 250,000, for the purpose of investing in one of the development projects in the northern or central region of Montenegro, not including the Capital City of Podgorica.

 

Additional fees

 

  • EUR 15,000.00 for the applicant;
  • EUR 10,000.00 for each family member, up to four members at maximum;
  • EUR 50,000.00 for each next family member.

 

The investments for Grant and Investment will be deposited in an ESCROW account for the development of Montenegro

 

The citizenship also possible for large scale investments in tourism and agriculture projects. These projects will be listed by government soon

 

 3. Tourism Investment projects

 

Development projects involve construction of five star hotels or mixed-type complex in the coastal region or the Capital of Podgorica or at least four stars in the northern or central region save for the Capital of Podgorica,  requiring atleast

  • Minimum of investment in the amount of EUR 15,000,000 in the coastal region or the Capital of Podgorica or
  • Minimum investment in the amount of EUR 5,000,000 in the northern or central region save for the Capital of Podgorica, and
  • Employing at least 80 employees in the coastal region or the Capital of Podgorica or at least 25 employees in the northern or central region save for the Capital of Podgorica,
  • Having at least 60 accommodation units in the coastal region or the Capital of Podgorica or at least 35 accommodation units in the northern or central region save for the Capital of Podgorica