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Montenegro launches investment for citizenship programme

Montenegro has launched a development programme that offers the possibility for a maximum of 2,000 applicants to acquire Montenegrin citizenship on the basis of investments over the next three years.

“The government’s decision was made with a view to further accelerating the economic development of Montenegro and attracting investments that will create new tourism, agricultural and processing capacities, and new jobs, and improve the quality of life and the living standard of our citizens,” said Deputy Prime Minister Milutin Simovic.

Each applicant should donate 100,000 euros for the development of poor communities and invest either 450,000 euros in one of the development projects in Podgorica or the coastal zone of Montenegro or 250,000 euros for the development projects in the northern or central region of Montenegro, not including the capital. In addition, the applicant must deposit 15,000 euros for an application for themselves or 10,000 euros for up to four family members plus 50,000 euros for any other family member.

“This programme represents an answer to the real needs of our economy and the need for its diversification. By attaining these goals, besides our key domestic need, we are also fulfilling the demanding economic criteria from our European agenda. Our domestic needs are best reflected by the fact that Montenegro at this time is at the level of 46 per cent of average EU development. We must improve the living standards of our citizens as quickly as possible and bring them closer to European levels,” Mr Simovic added.