16.05.2021

Montenegro will give citizenship to investors

The Montenegrin government took the initiative to grant citizenship in exchange for investment in the country’s economy. Thus, the country hopes to replenish the budget by $ 4.8 billion.

The program should start on October 1 of this year. Its validity period is 3 years. During this period, 2 thousand people from countries outside the European Union will be able to obtain citizenship through investment. In total, the Montenegrin authorities intend to attract $ 4.8 billion to the country’s economy in this way.

Those interested in obtaining Montenegrin citizenship will have to invest from € 250 thousand to € 450 thousand in the country’s economy. In addition, an additional fee of € 100 will have to be paid, the Dan newspaper reports.

Contributions vary depending on what the potential citizen intends to invest. If the project, approved in advance by the government, is implemented in the undeveloped part of the country, the amount will be minimal. If the investor decides to invest in a project approved by the government that is being implemented in an economically developed region, the price tag rises by € 200 thousand. An additional € 100 thousand will be charged to replenish the development fund of the lagging regions.

According to the plan of the Montenegrin cabinet, a special agency will work with investors applying for citizenship. It will be engaged in advertising and promotion of the program, will carry out the search and selection of candidates.

At the same time, representatives of the Cabinet of Montenegro focus on the fact that the country does not intend to trade Montenegrin passports. “This is not a project for the sale of citizenship, not a project for indexing a Montenegrin passport, which has its value as a country having a visa-free regime with the Schengen zone, this is a project that should ensure the economic development of Montenegro. This is a project that, I believe, can significantly accelerate the implementation of economic criteria, which are also part of the conditions for joining the EU, ”said Deputy Prime Minister of Montenegro Milutin Simovic.

However, the EU’s arguments do not convince Podgorica. The EU is clearly not happy with the idea of ​​the Montenegrin authorities. The head of the EU delegation to Montenegro, Aivo Orav, has already advised the Montenegrin authorities to carefully consider this project, hinting that it could become an obstacle to the country’s accession to the EU. “The EU has been closely following this discussion in Montenegro. We heard about the government’s decision on economic citizenship, as far as we understand, this is not a final decision, but only a proposal to calculate the results of the project, a final decision will be made in October. Our position is that the government carefully consider this issue so as not to create any obstacles for Montenegro on the path of integration into the EU, ”the diplomat said.

Citizenship for investment

Meanwhile, many states give a passport in exchange for serious cash injections into the country’s economy. Depending on financial capabilities and preferences, you can choose a European country or, for example, an island state in the Caribbean.

Photo: Pixabay

According to the Bloomberg rating, Austrian citizenship will cost the most. Vienna gives the coveted passport only to those who are willing to spend $ 23.75 million on howling or housing. This is the maximum bar. But for that kind of money, citizenship information can be kept secret.

Becoming a Cypriot with a passport is 10 times cheaper: the republic issues citizenship with investments of at least $ 2,375 million. Malta is in third place: $ 1,065 million is enough to apply for island citizenship.

You can, of course, cheaper: Turkey’s passport is given in exchange for investments of $ 1 million, Vanuatu – $ 226.5 thousand, Grenada – $ 208.25 thousand. St. Kitts and Nevis are also happy with those who carry $ 150 thousand. The most economical option – Saint Lucia, Dominican Republic, Antigua and Barbuda. Caribbean Islands open their arms for $ 100 thousand

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