Montenegro economic citizenship program has provisions for granting citizenship against investment in four or five star hotels

 

The development projects must have minimum investment of EUR 5 million – EUR 15 million

 

To get government approval for development projects, the hotel project must submit applications to Ministry of tourism and sustainable development.

 

The conditions for approval are

 

1. A Five-star in the coastal region or the capital city of Podgorica or at least four stars in the northern or central region, except the capital of Podgorica;

 

2. A minimum investment of €15,000,000.00 Euros is required in the coastal region or the capital of Podgorica or a minimum investment of €5,000,000.00 euros in the northern or central region, except the capital of Podgorica;

 

3. Employing at least 80 employees in the Primorje region or Podgorica capital or at least 25 employees in the northern or central region, except the capital of Podgorica;

 

4. Have 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, except for the capital of Podgorica.

 

Hotel projects can raise investment from Citizenship by investment (CBI) applicants

 

Once the development project approved by government, foreign investors and their families can buy a share for EUR 250,000 in the development project plus donate EUR 100,000 to fund in exchange for investment citizenship in Montenegro.

 

CBI programs running in the Caribbean have funded several five star hotels and resorts catering to tourism sector. Montenegro will be able to attract more investments in the hotel sector to cater the tourism needs.