Montenegro government in Jan 3,  2019 has officially announced development model for the citizenship by investment program.

 

The authorized Agents application phase is currently underway until March and the application phase for investors will likely to commence in Q4 2019. The program will be fully operational by 2020.

 

The Acquisition of Montenegrin Citizenship by Admission was published in the Official Gazette of Montenegro 34/10, 40/16 and 62/18

 

 

The CIP model is designed by government without private institutions and will also be fully managed by citizenship commission of the government.

 

The CBI program is expected to raise EUR 1 billion euros to accelerate economic development of Montenegro by creating new tourist, agricultural and processing capacities and opening new jobs,

 

Montenegro Government passed a decision for economic citizenship at its 99th cabinet session held on November 22, 2018.

The model of the special programme is GRANT + INVESTMENT.

 

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,

 

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:

• at least 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
• at least 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.

Applications can only be submitted by international agents which the government will announce soon.

 

2000 Citizenship by Investment Decisions 

 

During the period of the special program, up to 2000 decisions on the admission to Montenegrin citizenship on the basis of a special program may be adopted at maximum.

 

If the person who has acquired Montenegrin citizenship by admission, in accordance with this Decision, is stripped of Montenegrin citizenship, h/she shall not be entitled to a refund of the funds he had paid in accordance with Article 10 of this Decision.

 

 

The Montenegro CIP will run from 1 January 2019 until 31 December 2021.

 

Stay tuned for more updates….