The countdown to the end of the program “Citizenship of Montenegro for Investment” has begun. There are weeks left to apply. Before completing the program, you need to go through the first stage — prepare a package of documents and make the necessary transfer of funds. To do this, you need to contact the licensed agent of the program, Apex Capital Partners, no later than December 10, 2022.
The candidate will need to open the necessary accounts, namely 3 escrow accounts: the first to transfer an investment in the selected authorized real estate project (from 250,000 euros), the second to contribute to the state fund (100,000 euros), the third to another state fund (100,000 euros). Fees for passing due diligence and others are also paid (request a full calculation from APEX).
“Citizenship of Montenegro for Investment” program is about to be closed for the second time. At the end of 2021 year, the predetermined term of the Montenegrin program expired. But on December 30, 2021, the Government suddenly decided to extend this CIP for another year. Basically, there was a reason for it – program was in fact open for applications for 2 years, not 3 as it was planned by law.
Citizenship of Montenegro
Authorized projects on the North:
Breza 5*, Bjelasica 1450 4*, Grand Chalet 4*, Montis Mountain Resort 5*
Authorized projects on the in the coastal area of Montenegro:
Boka Place (Porto Montenegro) 5*, Amma Resort 5*
Key procedure for making a decision on an application for investment Citizenship of Montenegro. If approved, the customer is informed through a licensed agent (APEX). After approval, about a month and a half later, the state issues a certificate of naturalization of the investor and his family members included in the application. And then you can already plan a trip to Montenegro to pass biometrics and obtain passports on the spot.
Time to invest in Montenegro
Preliminary data from the Central Bank of Montenegro show that in January — September 2022 period, net Foreign Direct Investments inflow amounted to 599.03 million euros or 70.03% more than in the comparative period last year. The total inflow of FDIs amounted to 847.83 million euros (growth of 41.32%) due to an increase in equity investments.
The level of investor confidence in Montenegro is high, the local market for residential and commercial real estate is growing. New infrastructure, both general and private, is being built. Such marinas as Portonovi and Porto Montenegro and more have already gained world fame.
At the moment, Montenegrin citizens can travel through the Schengen zone 90 days every six months. Montenegrin citizens can also apply for an E2 non-immigrant USA visa (this is a separate program, there will be an additional costs). By the year 2025, the process of Montenegro’s integration into the European Union should be completed, then the holders of this passport will become full-fledged EU citizens.
«Of course, there are parties that are interested in lobbying for an extension of the Citizenship of Montenegro program. These are those developers who did not have time to recruit the necessary number of investors to close construction costs. In the outgoing year, the management of the country was in a zone of turbulence, in fact, now in Montenegro there is a “technical” government and new elections are expected. The change of officials gave rise to a bureaucratic crisis of six months, which also affected the work of the Agency responsible for the program. Approval was delayed – and with them funds in escrow accounts. Not all developers of authorized projects were able to cope with this situation. Nevertheless, this does not give reason to predict any decisions on the part of the Government of Montenegro. The situation is as follows — the program is close to completion regarding the acceptance of applications. That is the fact and we work on the basis of it», — comments Nuri Katz, Founder and President of Apex Capital Partners.