The first holder of a Montenegrin passport obtained under the “Citizenship of Montenegro by Investment” program was a Russian citizen. As reported by the Investment Agency Apex Capital Partners, several applications have been approved to date, but passports have not yet been issued due to the closed borders. However, as soon as Montenegro opened its borders after the quarantine, the Russian citizen was able to visit the country, submit the required biometric data, and receive his passport. Note that the names of Montenegrin passport holders will not be disclosed. Montenegro’s personal data protection law prohibits publishing this information. The implementation of the project to grant Montenegrin citizenship in exchange for investment began on October 1, 2019. The program is valid for three years. Interested candidates must invest from 250,000 euros in one of the projects in the north of the country or from 450,000 euros on the coast or in the country’s capital, Podgorica. The list of priority sectors includes infrastructure, tourism, agriculture, and the processing industry. The program quota is 2,000 people. The application fee is 100,000 euros. This money is non-refundable to the candidate regardless of the decision made, whether positive or negative. Buying real estate in Montenegro does not provide an opportunity to obtain citizenship. Citizenship applications can be submitted remotely; applicants need to come to the country once. At the same time, investors and their family members will not need to renounce their original citizenship in favor of Montenegrin citizenship; both can be retained. View the full list of authorized projects participating in the “Citizenship of Montenegro by Investment” program.
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