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Montenegro - How To Get A Second Passport

3 min read

Montenegro - How To Get A Second Passport

Montenegro is known as a stunning summer and winter destination because of its sun-drenched beaches, amazing mountains and right now, the best place to get citizenship by investment.

And if you're thinking, why Montenegro, it's not in the EU, then you'll be happy to hear that in only a few years from now, they will be part of the EU. Today, you can purchase a CBI for a fraction of the cost of other EU countries that offer this type of program.

But only for another few months...

 

montenegro

Montenegro is a small country in the southeast of Europe, next to Croatia and opposite Italy on the Balkan Peninsula and is known for its natural beauty. Montenegro sits on the Adriatic Sea with a Mediterranean feel, meaning people are loud and love to show their affection openly. The terrain ranges from high mountains along its borders with Kosovo and Albania, through a small part of the Karst region of the western Balkan Peninsula, to a narrow coastal plain that is only 1 to 4 miles (2 to 6 km) wide.

One of the main reasons why so many of my clients chose Montenegro is the climate. The lower area has a Mediterranean climate, with dry summers and mild, slightly rainy winters. The capital, Podgorica, is at sea level and has the most beautiful weather during the summer and the mountain regions receive more rainfall than most other countries in Europe.

Due to its physical position within Europe, the ethnic composition is wide and varied. 45% are Montenegrin, 29% are Serbians, and 12% are Bosniak/Muslim. The small remainder are split between Albanian and undeclared. 

 

Map of Montenegro

Map of Montenegro

facts

  • Montenegro gained its independence in 2006;
  • Member of NATO;
  • Uses the euro as its currency;
  • The population is 628,00 people;
  • Capital is Podgorica.

     

what is citizenship by investment

Perhaps you are wondering how to acquire citizenship in a country without having any blood or territorial connection and that's a valid question. The citizenship by investment program exists for this purpose.

A citizenship by investment program is a legal process that enables individuals to acquire citizenship or residency in another country by investing a specific amount of money into the country's economy. The investment could be in the form of a business investment, purchase of real estate, or making a donation to a government fund.

These programs are typically offered by countries to attract foreign investment and can have varying requirements and benefits. The benefits of obtaining citizenship through such programs include a new passport, the opportunity to live and work in the country, and potential tax benefits. Some investment citizenship programs allow you to include your family members in the program as well, but to be sure, you need to consult the legislation of each country.

 

why a montenegro cbi

The Montenegro passport has visa-free access on arrival to 123 countries and 13 territories, making it the 43rd most powerful passport worldwide. It means you will be able to enter these countries without any restrictions for a short stay. 

Montenegro is a leading candidate for EU accession; at that point, all its passport holders will get visa-free access to all Schengen countries. Not only will they be able to travel there, but also settle, work and study in any European country.

Although geographically in Europe, Montenegro is not part of the EU. Accession into the EU is expected soon, around 2025.

Other reasons to obtain a Montenegro CBI:

  • Rare 1-time limited opportunity for citizenship;

  • Citizenship and passport can be obtained within as little as 3-6 months;

  • Extremely affordable real estate;

  • No physical residence requirements needed.

The Government launched the Montenegro Citizenship by Investment Program in 2019 as part of its ongoing efforts to attract foreign direct investment (FDI) and increase economic activity in the country.

Montenegro will terminate its Citizenship by Investment program as of December 31st, 2022; however, they will continue to receive applicants for the program until the set date only.

 

Town of Kotor, Montenegro

Town of Kotor, Montenegro

how to get a second passport in montenegro

You can receive a CBI in Montenegro by:

One investing in one of several government-approved real estate development projects.

The investments range from €250,000 ($264,862 USD) in the northern and central region, excluding Podgorica, to €450,000 ($476,752 USD) in the coastal region or in the capital city of Podgorica. 

Plus an additional government donation of €200,000 ($211,890 USD) is required, plus application and due diligence fees.

The government contribution of €200,000 ($211,890 USD) looks like this:

  • €100,000 ($105,945 USD) to a fund for the advancement of local underdeveloped, self-government units;

  • €100,000 ($105,945 USD) to the Innovation Fund of Montenegro.

*Legal Fees and additional expenses are not included in these Investment Options

 

main applicant requirements

To submit the application for citizenship by investment, you, as the main applicant, must make sure that you meet all the requirements and that you have some mandatory documents, which are as follows:

  • Main Applicant can include their spouse and all dependent children under 18 years of age;

  • Dependent and unmarried children above 18 years of age can also be part of the application;

  • Clean criminal record;

  • Hold a valid passport or travel document;

  • Provide documentation to the source of funds;

  • There is no minimum stay requirement;

  • Application takes an average of 4-6 months to be processed.



Related content: Antigua & Barbuda - How To Get A Second Passport

 

CONCLUSION

If you are interested in a paradise to rest, work or invest, Montenegro's citizenship by investment program may be the good fit for you. There are many advantages of living in the country and acquiring its citizenship, and luckily, the country allows you to have dual citizenship, so you won't need to give up your current citizenship to officially become a citizen of Montenegro.

 

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Mikkel Thorup

Written by Mikkel Thorup

Mikkel Thorup is the world’s most sought-after expat consultant. He focuses on helping high-net-worth private clients to legally mitigate tax liabilities, obtain a second residency and citizenship, and assemble a portfolio of foreign investments including international real estate, timber plantations, agricultural land and other hard-money tangible assets. Mikkel is the Founder and CEO at Expat Money®, a private consulting firm started in 2017. He hosts the popular weekly podcast, the Expat Money Show, and wrote the definitive #1-Best Selling book Expat Secrets - How To Pay Zero Taxes, Live Overseas And Make Giant Piles Of Money, and his second book: Expats Guide On Moving To Mexico.

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