Henley & Partners, the leading global investment migration firm, has welcomed the announcement by the Government of Montenegro that it will launch its long-awaited citizenship-by-investment program in October, sources said.
The firm has been advising the Montenegro Government for more than eight years on the possible introduction of an investment migration program. In the details, the Montenegro Citizenship-by-Investment Program will be limited to just 2000 applicants during a period of three years with a minimum investment of EUR 250,000. The government will, in addition, charge a fee of EUR 100,000 per application which will be directed to a special fund for underdeveloped areas. Montenegro is ranked 42nd on the Henley Passport Index, offering citizens access to 123 destinations, including Hong Kong, Singapore, the UAE, and all the countries in Europe’s Schengen Area.
Henley & Partners has accumulated over 20 years of experience working with governments in North America, the Caribbean, Europe, and Asia on the design, set-up, operation, and promotion of some of the world’s most successful residence and citizenship programs, raising more than USD 7 billion in foreign direct investment (FDI).
The Montenegro government passed the country’s citizenship by investment act in 2008, establishing the pathway for wealthy investors to obtain a Montenegro passport in exchange for an investment into the nation. Making the investment may qualify as an economic contribution for the purposes of the citizenship law. Montenegro requires the foreign investor to make an investment of at least 500,000 Euros before the applicant can apply for citizenship. Once the investment has been made, it must be reviewed by an independent consultancy agency and the investor must obtain a recommendation from the country’s Ministry of Finance. After the agency certifies that the investment was correctly made and the Ministry of Finance issues the recommendation, the investor may submit the citizenship application to the Montenegro immigration authorities.