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Citizenship by Investment: Montenegro

(Source: Government of Montenegro)

Montenegro CBI


Montenegro is a country located in the west-central Balkans at the southern end of the Dinaric Alps. It is bounded by the Adriatic Sea and Croatia (southwest), Bosnia and Herzegovina (northwest), Serbia (northeast), Kosovo (east), and Albania (southeast).


Montenegro’s administrative capital is Podgorica, though its cultural centre is the historical capital and older city of Cetinje. For much of the 20th century, Montenegro was a part of Yugoslavia, and from 2003 to 2006 it was a component of the federated union of Serbia and Montenegro.


Montenegro has a strategic geographic location in Europe with direct access to Adriatic Sea. Porto Montenegro is one of the world’s finest yachting marinas. Montenegro is an outstanding holiday destination.



Why the Montenegro CBI program different from the others and why is it so important now for international investors.


Montenegro is in a special position at the moment, as the EU accession is expected to happen in 2025. Montenegro recognized its opportunity to accelerate its economic development by attracting investments with a citizenship program for up to 2,000 foreigners.

Investors are aware that the net cost of obtaining citizenship in Montenegro is the lowest compared to other European programs.



The Montenegro Economic Citizenship Program (MECP), also known as the “Special Investment Scheme” was launched in 2018 and it allows investors the opportunity to obtain the citizenship of Montenegro in exchange for investment in the country.

The Montenegro economic citizenship program (ekonomsko državljanstvo), allows foreigners to be granted the citizenship of Montenegro at the discretion of the Ministry of Interior Affairs and Public Administration through a designated investment.


Montenegro announced new citizen by investment scheme for acquiring Montenegrin citizenship by admission on the basis of a special investment programme based on a special decision published in the Official Gazette of Montenegro 34/10, 40/16 and 62/18.
The scheme was announced on Oct 1, 2018 and will run for only for three years offering investment citizenship to 2000 foreign investors.


To qualify for residency or citizenship, applicants must fulfill one of the investment options below in addition to meeting the following criteria:

  • Possess a valid passport or another foreign travel document.
  • Provide documents supporting the source and origin of invested funds
  • Hold no criminal record.
  • Attest the power of attorneys and the investment agreement.


Montenegro benefits

The major advantages of Montenegrin citizenship are:

  • EU citizenship in the near future. Both Montenegro and the EU aims to have full EU membership in 2025.
  • No requirement to live in the country. Unlike most citizenship programs in Europe, applicants are not obliged to live in Montenegro on a continual basis, not even for one day
  • It is fast to obtain. The application timeframe is only 3 months.
  • Different investment options to choose from which can be liquidated after five years.
  • No requirement to know the Montenegrin language.
  • No requirement to renounce your current citizenship.
  • A favorable taxation regime. Montenegro offers one of the lowest personal income tax rates in Europe starting at 9% and one the best conditions for freely doing business in the EU – the corporate tax rate is only 9%.
  • Valid for life and can be passed to future generations.
  • E-2 Treaty Program signed between Montenegro and the United States which allows citizens of Montenegro to reside and work in the U.S. under an E-2 Investor Visa.
  • Dependents under 18 years of age are also granted citizenship with main applicants.




  • Ability to visit, visa-free, the countries of the Schengen zone as well as Bulgaria, Cyprus, Romania, Russia, Turkey, Hong Kong, and Singapore (121 countries total).
  • After accession to the EU, Montenegrins will have the freedom to live, work and study anywhere in the 28 EU member states.




Government Fund Donation

Applicants must make a contribution of €100,000 in the form of a government fund donation.

Montenegrin house

Real Estate Investment

In addition to the donation, applicants are required to invest in approved real estate projects in the country. Depending on where the selected projects are, applicants will have the choice of the following investment levels:

  • €250,000 investment in an undeveloped region (north of the country), or
  • €450,000 investment in a developed region (south of the country at the seaside) or in the capital city of Podgorica.




The process takes a total of six months.


One month is needed for:

  • File preparation
  • Qualification approval
  • Applications
  • Submission of documents
  • Project selection.

Four months are needed for:

  • Application processing from file submission.

One month is needed for:

  • Naturalization
  • Citizenship Certificates
  • Issuance of passports
  • Clients need to travel to Montenegro to submit biometric and collect passports.




The following is a list of fees that will be incurred when obtaining citizenship by investment in Montenegro. Contact GLI for the current cost for each item below:

  • Advisory Fees
  • Processing Fees
  • Due Diligence Fees

IMC Member

Investment Migration Council (IMC) is the leading global association for investment-related migration. As an IMC member, GLI stays up-to-date on the latest trends and developments in this field through continuous education and training courses. We are committed to the highest professional standards and enhancing the respectability of the industry overall.

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