Montenegro, the sovereign state in South-eastern Europe, aims to boost its economy by offering citizenship to 2,000 people over the next three years through its long-awaited citizenship-by-investment program, launching in October.
The picturesque country, populated by 620,000 people, is situated on the Adriatic coastline and includes mountains, medieval villages and a narrow strip of beaches.
The Montenegro Citizenship-by-Investment Program will offer individuals several options, including a EUR 250,000 (R3.86 million) investment in projects in less developed areas or a EUR 450,000 (R6.95 million) investment in projects in developed areas.
The government will, in addition, charge a fee of EUR 100,000 (1.5 million) per application which will be directed to a special fund for underdeveloped areas.
Montenegro is ranked 42nd on the, offering citizens access to 123 destinations, including Hong Kong, Singapore, the UAE, and all the countries in Europe’s Schengen Area.
Amanda Smit, director head at Henley & Partners Central, East and Southern Africa, said that investment migration provides an additional source of investment liquidity that can create a healthy fiscal and economic environment in which the citizens and country can thrive.
“There is fundamentally no difference between citizenship-by-investment, foreign direct investment (FDI), or investment in government securities such as sovereign bonds. In participating in these programs, individuals are able to make an exceptional economic contribution to often smaller nations that require foreign direct investment in order to remain competitive and sustainable in the long-term. It is a mutually beneficial exchange, and it is also very much the direction in which the world is heading, as globalization becomes an undeniable feature of modern life.”
“The investment migration industry is maturing. There is both a growing demand from African investors for European options, just as developing European sovereign states understand the potentially transformative value of effectively managed citizenship-by-investment programs. It is a mutually beneficial exchange, and it is also very much the direction in which the world is heading, as globalization becomes an undeniable feature of modern life,” Smit said.