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Montenegro will close its citizenship program by the end of the year.

The Montenegrin government will close the citizenship by investment program starting January.1.2022, according to the announcement made by the Montenegrin government at the end of March of this year.

The program was launched in 2018, which has many benefits for foreign investors, but the program faced many challenges that led to the start of receiving citizenship applications from investors only a year after the date of its launch, and given the lack of high demand for the program from foreign investors. With approximately 130 applications during this period and due to pressure from the European Union and its reservations on the program and its objectives, which may affect the accession of Montenegro to the European Union, it was announced that the program will not be extended for a longer period, giving interested investors a chance until the end of the current year to apply for citizenship, given that there are two paths. The first investment of 450,000 Euros in government-approved real estate in the coastal areas of the country, or 250,000 Euros in the north of the country, in addition to the 100,000 euros government contribution.

 

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