Opinion
The Newly launched Montenegro Special Citizenship by Admission program (MSCAP) is widely anticipated to commence by March 2019 and the official announcement on this will be made soon.
The Government has invited Agents and Due diligence providers to submit applications by deadline Feb 1, 2019. The Public opening of applications will take place on February 11, 2019 (due diligence agents) and Feb 12, 2019 (authorized agents) at the premises of the Secretariat by 9.am
Within 30 days by March 12, 2019 , the Government will reach a decision on appointing Due diligence providers and Authorized agents. Once the appointment of these providers is complete, Montenegro citizenship by investment will be open for applications.
Montenegro may also appoint a Special Citizenship by Investment Unit (CIU) to oversee the applications.
Montenegro mad official announcement that CIP will start by end of 2019 for first applications
The Montenegro CIP will be limited to 2000 applications and will only run for three years from 1 January 2019 until 31 December 2021 according to the Government decision.
Investment conditions for MSCAP
1. EUR 100,000 deposited in Escrow account for development of less developed local self- government units
2. EUR 250,000 for the purpose of investing in some of the development projects in the northern or central region of Montenegro, save for the Capital of Podgorica
OR
EUR 450,000 for the purpose of investing in some of the development projects in the Capital of Podgorica or the coastal region of Montenegro
3. Payment of additional application costs
– EUR 15,000.00 for the applicant;
– EUR 10,000.00 for each family member, up to four members at maximum;
– EUR 50,000.00 for each next family member.
The MSCAP scheme also has provisions for large scale investments in development projects in tourism (hotels, resorts), agriculture, manufacturing with creating jobs.
All applicants shall file an application for the implementation of a special program through appointed intermediary agent, and vetting of the applicant shall be carried out by an international due diligence agents.
The Government expects the CIP to create economic development in Montenegro bringing high quality of life for citizens, including creation of more jobs through the implementation of MSCAP.
