Montenegro Citizenship by Investment Program is starting to bring results/
The Montenegro Citizenship by Investment Program was launched in 2018 and has only just begun to show its results.
“Works in the North of Montenegro have not been suspended, nor have we considered it an option. On the contrary, we have tried to go a step further in these months, to try to keep investors interested in further investing in our North and in every other location across Montenegro. As we announced, the program of acquiring Montenegrin citizenship began to yield results,” said Prime Minister Dusko Markovic.
To date, six development projects for obtaining citizenship have been officially approved:
Kolašin Resort & Spa, Kolašin
Hotel Breza, Kolašin
Kraljičina plaža, Miločer, Budva,
Durmitor Hotel and Villas, Žabljak,
Bjelasica 1450 Kolašin
Five projects will be implemented in the north of Montenegro, and the total cost of the projects will be more than 74 million euros. It is important to note that commissioning will create more than 400 jobs for local residents.
“For this purpose, we will continue to implement capital projects in order to establish a balanced and sustainable development throughout the territory and provide a better life for every citizen and his family,” said Prime Minister Dushko Markovich.
The government will accept applications for the construction of hotels until December 31, 2021. In them, investors must invest at least 5 million euros and create jobs and housing units. The program was expanded with investments in agriculture, woodworking, and fisheries.
To date, Montenegro has received 5 citizenship applications, and the first application has been approved.
The country is also attractive because it occupies a high position on the path to EU accession in order to meet all the criteria by the date of accession in 2025.
The real estate market remains the most affordable in Montenegro, which makes the country super attractive for citizenship and real estate investments.