The Government of Montenegro announced that it has received 934 passport applications through the Citizenship by Investment Program. The program officially started on 1 January 2019. but due to some technical issues, the applications started in 2020. So, in the last two years, Montenegro accepted 409 applications and issued passports for 126 applicants and 283 family members. It’s stated that there are 522 applications in the procedure, of which there are 152 applicants and 370 family members.

This means that only 126 slots out of 2,000 available are filled. The Montenegro Citizenship by Investment Program offers a total of 2,000 slots, meaning that one slot means a passport for the applicant and his/her closest family. The program allows you to obtain a Montenegro passport for a total real estate investment of €250.000 or €450.000 and €100.000 for a Government fund for innovations. Besides investment, there are the additional agent and Government fees of at least €30.000 or more, depending on the number of family members.  

The Program had its “birth pains” as it took over a year and several changes to finally start the implementation. And it has brought tremendous benefits to the northern part of Montenegro, as there are now several large 4 and 5-star hotel developments in Kolašin and Žabljak, which I’m sure would not be built if it weren’t for the Program. However, the Government announced possibilities of changes or ceasing the program several times, something I find unserious. I surely understand the political reservations for this kind of program, but the financial benefits we get out of investment and free capital flow should beat that. After all, economic migration has been around for a long time and citizenship of a preferred country should not be so hard to get.