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Montenegro submitted 31 applications for citizenship for investments

Ten applications for citizenship have been verified and are at the final stage of consideration, the Ministry of Internal Affairs said. So far, no passports have been transferred under the program.

The implementation of the project for the granting of Montenegrin citizenship in exchange for investment began on October 1, 2019. The validity period is three years. Interested candidates must invest 250 thousand euros in one of the projects in an undeveloped region of the country or 450 thousand euros on the coast.

The list of priority sectors includes infrastructure, tourism, agriculture, processing industry. The quota for the program is 2 thousand people.

The entrance fee upon application is 100 thousand euros. This money is not returned to the candidate, regardless of the decision made - positive or negative. Buying real estate in Montenegro does not provide an opportunity to obtain citizenship.

Among the projects submitted to the Investment Agency are the condo hotels Kolašin Resort & Spa, Breza, Bjelasica 1450 and K16 in Kolasin, the Kraljičina plaža hotel near Sveti Stefan and the Durmitor Hotel and Villas in Zabljak. Detailed information about the objects can be found in the section "For citizenship" on our website.

The pandemic slowed down the implementation of the program, explained in the Ministry of Internal Affairs of Montenegro. In February, Russian media reported that the first application approved by an investor from the UAE.

Even after the issuance of passports, the names of their holders will not be disclosed. The Law on the Protection of Personal Data in Montenegro prohibits the publication of this information.

Source.

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