We have compiled the most important questions about Montenegro citizenship by investment scheme.
1. Does Montenegro have EU membership?
No. Montenegro has currently candidate country status for EU membership. Likely to join European Union in 2025
2. What is the legal background for CIP?
Montenegrin Citizenship by Admission scheme was published in Official Gazette of Montenegro 34/10, 40/16 and 62/18 which was adopted at the session of 22 November 2018
3. Can i apply now for citizenship scheme?
Yes, Currently open for applications from Oct 3, 2019, officially announced by Government
4. How many citizenships will be granted under CIP?
No yearly quotes, a total of 2000 investors and their family members will be admitted as citizens.
5. Are you an authorized agent?
We work with the trusted authorized agent appointed by the government.
6. Is Montenegro in Schengen area?
No, but Montenegrin passport holders can travel to EU schengen countries without visa. Likely to join schengen area in 2025.
7. How much is the minimum investment required?
EUR 250,000 in real estate + EUR 100,000 (donation) + Additional fees is required
8. How to become permanent resident?
Permanent residency is included in the citizenship scheme. It is issued within 3 weeks after investment
9. Can i travel to UK and Ireland using Montenegro passport?
No. Montenegro passport holders including investors require a visa to travel to UK and Ireland.
10. Can i submit applications directly to Government?
NO. The special citizenship program applications shall only be submitted by the applicant for himself and members of his family to the Competent Body through an intermediary agent.
11. Is dual citizenship allowed?
Yes. Please check your home country allows dual citizenship. Eg. China, India, Singapore, Malaysia, UAE and other middle east countries may not allow becoming dual citizens. In this case we ask you to seek legal advice.
12. Who administers citizenship by investment scheme?
The Government of Montenegro has appointed Secretariat for Development Projects (srp.gov.me) responsible for administering and overseeing special citizenship by investment program. The office is located at Bulevar Revolucije 7, 81 000 Podgorica. The citizenship scheme is designed within government institutions without any involvement of third party providers.
13. What is the official currency of Montenegro
14. How applicants are vetted?
First the agent performs initial due diligence checks. Later the government appointed third party due diligence firms conduct a detailed vetting process on the applicants, who must be free from criminal record, must have no visa denials from EU schengen states, clear from sanctions and clear source of funds. Only passing these checks will be granted passport.
Applicants should not have been sentenced in Montenegro or another state by a final and binding court decision to an unconditional prison sentence of more than one year for a criminal offense prosecuted ex officio or the legal consequences of the conviction for such criminal offence have ceased
15. Can i include family members as dependents?
Family members shall be considered to be:
- a married spouse;
- applicant’s children who turned 18 years of age, who are dependent on the applicant
- applicant’s children under 18 years of age, who can acquire Montenegrin citizenship by coming of age.
16. What documents are required?
– certified copies of passports and ID cards,
– birth certificates,
– marriage certificates,
– insurance policies valid in Montenegro, which cover health insurance,
– Health certificate from doctor confirmation that they do not suffer from contagious diseases, issued in accordance with the regulations of the country in which the applicant is a national.
Please note some documents need an apostille to be valid in Montenegro. Montenegro is a member of Hague convention of apostilles. You can check where to get apostille in your country here
17. What are the restricted countries?
The CIU may restrict some country nationals. Please contact for more clarification and eligibility criteria.
18. How is the real estate market?
Montenegro real estate offers an excellent investment opportunity at currently prevailing low prices. Montenegro has the lowest property prices in europe. Property prices of flats in new residential building in capital Podgorica, Montenegro is 1,200 EUR per square metre. Budva is coastal resort and Venetian port-city, with sandy beaches and a diverse nightlife, welcoming over half a million visitors annually.
19. Is the citizenship reported to other countries?
20. Can i vote as citizen of Montenegro?
21. How is Montenegro compared with other EU investor citizenship schemes?
Montenegro has the cheapest citizenship by investment (CBI) program in Europe. It is a great future investment considering Montenegro joining EU and Schengen area in six years by 2025 giving you a chance to become EU citizen in the future. Once Montenegro joins EU prices will soar and also citizenship could be difficult to afford.
Here is the current prevailing prices for CBI schemes in Europe.
- Montenegro – EUR 250,000
- Malta – EUR 900,000
- Cyprus – EUR 2,150,000
- Bulgaria – EUR 1,000,000 (closed)
- Moldova – EUR 100,000 (suspended/closed)
22. Does CIP have donation option?
No, the CIP is a part of DONATION + INVESTMENT model. This means you have to invest in real estate plus pay a EUR 100,000 donation to fund to become eligible for citizenship.
23. Can i visit US and Canada with passport of Montenegro?
No, a visa is required
24. Can Montenegro revoke citizenship for investors ?
Yes, the decision passed by Montenegro may revoke citizenship anytime for concealment, fraud, interpol wanted person and national security threat. If the citizenship is revoked, there will be no refund of the investment.
25. Is Montenegro is a member of UN and NATO?
Montenegro is a member of the UN, NATO, the World Trade Organization, the Organization for Security and Co-operation in Europe, the Council of Europe, and the Central European Free Trade Agreement. It is a founding member of the Union for the Mediterranean.
26. Where is Montenegro?
Montenegro is in south east europe near adriatic sea. Take a look in the map
Montenegro is a Balkan country with rugged mountains, medieval villages and a narrow strip of beaches along its Adriatic coastline. The Bay of Kotor, resembling a fjord, is dotted with coastal churches and fortified towns such as Kotor and Herceg Novi. Durmitor National Park, home to bears and wolves, encompasses limestone peaks, glacial lakes and 1,300m-deep Tara River Canyon.
27. What are some quick facts about Montenegro?
The name Mont + Negro means Black mountain. Hence Montenegro or Crna Gora as it’s called in Montenegrin
- Montenegro has 622,000 population of which 70% are christians and 20% are muslims
- Montenegro has GDP of $12 billion in 2019
- Montenegro’s beauty attracts close to 2 million visitor arrivals for tourism
- Montenegro has 117 of them along 293 kilometers of coastline.
- Montenegro’s Lake Skadar is one of the biggest bird reserves in Europe home to 270 bird species.
- Montenegro’s capital city Podgorica existed since 1326.
28. How to travel to Montenegro by Air?
a tiny country, there are two international airports: one in the capital, Podgorica, and one on the coast in Tivat. To save money on flights to Montenegro, consider flying into Dubrovnik airport in Croatia, which is just 20 minutes from the Montenegrin border
29. Can i open bank account in Montenegro?
Foreigners can open bank account in Montenegro. There are 15 commercial banks in Montenegro have the license to do financial business in Montenegro.
- Erste Bank,
- The First Bank of Montenegro
- Hipotekarna Bank
- Lovćen Bank
- NLB bank
- Societe Generale Bank of Montenegro
- ZIRAAT Bank
- Montenegro Commercial bank (CKB)
30. Is Montenegro listed in OECD blacklist of CBI/RBI schemes?
NO, Montenegro is not blacklisted.
31. Do banks in Montenegro exchange tax information with other countries under CRS?
Montenegro is the only country among CBI countries that does not participate in CRS.
Montenegro is not in the CRS list of tax exchange. Banks in Montenegro currently do not participate in the Automatic Exchange of Information (AEOI) or Common Reporting Standards (CRS) schemes. It may happen in the future.
32. Does Montenegro have an official Golden visa scheme?
No, there is no official golden visa scheme, only golden passport scheme. There is a possibility to obtain residence permit against investments. We dont assist with this process.
33. Do i have to make a personal visit?
Yes, once to receive residence permit, finalize investments, signing and biometric data process.
34. Are there any residency requirement for fast track citizenship?
None. There is no requirement to visit Montenegro after getting passport
35. What is the validity of passport issued?
All Montenegro passports issued to Investors are valid for 10 years.
36. Does Montenegro require military service from investors?
37. Is Montenegro safe country?
Montenegro is generally a safe country
38. How much it costs to renew the Montenegro passport?
39. Does Montenegro issue Biometric passport?
Yes, e-passport valid for 10 years.
40. How can the scheme benefit hotel investors?
Hoteliers can invest €5m in new four or five star hotels and resorts considering 2 million tourists visit Montenegro every year.
Lets say you build a 50 room hotel, you can sell the hotel equity shares or hotel room for €250,000 to citizenship seeking investors . Within 2 years you will raise the entire capital invested, plus share/room owners eligible for passport.
These are the minimum investments for citizenship.
- €250K (rural or north)
- €350K (Podgorica / coastal areas)
41. Where are the most popular places to buy property in Montenegro?
The most popular place to buy a property is along the coast of Montenegro between Herceg Novi and Petrovac. The Bay of Kotor and the Budva Riviera are the most sought-after destinations for both buyers and holiday-makers.
Foreigners can expect €1,800 a square metre in Tivat and Herceg Novi, and €2,250 in popular towns like Kotor and Budva. In the Capital Podgorica prices average around €1,200 a square metre
- The Land Registry extract (“katastarska skica”) provides all the information on the land’s use, regulation (building restrictions) and structure.
- Planning permit (“dozvola za projektovanje”) shows development has been approved from the local municipality (town hall).
Once the citizenship scheme kicks in, expect significant increase of property prices in Montenegro.
42. Can i invest in real estate through a company?
There are no restrictions but foreigners can only buy land through a company.
43. Can i buy residential properties for citizenship?
No, you must invest in approved commercial projects that creates jobs.
44. How much it costs for Montenegro investment citizenship?
Montenegro special citizenship by admission program requires €250,000 in approved hotels or resorts in Northern Montenegro or €450,000 in Southern Montenegro (capital and coastal areas). There is a €100,000 Govt application fee per application, which goes to donation fund for development of Montenegro.
45. What makes Montenegro citizenship super interesting?
Montenegro has candidate status to join EU by 2025 (negotiations are on) and later in schengen. Montenegro is a beautiful country, low tax jurisdiction, NATO member. Montenegro has the lowest rock bottom property prices in Europe. Don’t forget Montenegro uses Euro.
46. When Montenegro CBI program was launched?
The Special citizenship by investment program was announced on Oct 1, 2018. Official Gazette of Montenegro 34/10, 40/16 and 62/18 which was adopted at the session of 22 November 2018. The CIP opened for applications on Oct 3, 2019
47. How many visa free countries i can travel with Montenegrin passport?
Montenegrin citizens have visa free access to 124 countries and territories as of 2020. These countries include Schengen, Israel, Russia, Turkey, South Korea, Ukraine, UAE. A visa is required to enter UK, Canada and USA.
48. Can i apply for E-2 visa becoming a Montenegrin citizen?
Yes, Montenegro has both E-1 investor and E-2 trader treaties with United States.
49. Are there quotas for Montenegro CIP?
The special citizenship by investment is limited to only 2000 foreign investors (first come first served). It will only run for 3 years since inception.
50. Can i get permanent residency along with citizenship?
Yes, you can get permanent residency in a matter of weeks and citizenship/passport in 2-3 months after completing the investment and passing background checks.