04 Jan Montenegro Extends its Citizenship By Investment Program by One More Year
In view of the recent news announcing extensions to citizenship by investment programs for the new year 2022, Montenegro’s government has decided to extend its citizenship by investment program, which was initially set to expire by the end of December 2021. The Montenegrin Cabinet decided to extend the citizenship by investment program by one more year, along with implementing some adjustments to the terms of the program. This includes holding new approvals of development projects during the extension period and demanding additional bank guarantees for approved projects.
New Year, New Terms!
The Montenegrin government has announced that program applicants will therefore be required to contribute EUR 100,000 to the state budget, in addition to another EUR 100,00 for regional development. The new decision also included raising the total capital outlay required to qualify to EUR 450,000 and EUR 550,000.
Going Against The Flow
The extension decision was put into action despite the criticism of the Minister of the Interior and Foreign Affairs. But, on December 30, Montenegrin Ministry of Economic Development Jack Milatovic reported that the program is helping the development of the country and that it positions Montenegro as a regional leader with regard to allocating funds for innovation.
The Montenegro Citizenship by investment program was introduced by the Montenegrin Government within its continuous efforts to expand economic activity in the country and encourage foreign direct investment.
The Montenegrin passport provides visa-free travel to over 122 countries around the world, including Schengen Area, Russia, Singapore, and Hong Kong. Whilst not yet an EU county, the program is considered as an interesting alternative to the Caribbean citizenship programs (similar to North Macedonia).
The Montenegrin passport brings competitive investment and business opportunities into its progressive real estate market. With the help of its attractive geographical location that makes it an easy-to-reach destination from anywhere in Europe, this program serves as a golden opportunity for those planning to purchase elite real estate for personal use.
Apply today for Montenegro Citizenship by investment program through Huriya Private and obtain your European passport within 6 months.