Montenegro has approved the first citizenship case under the newly launched special citizenship by investment program in Montenegro after supposedly three months of submitting the application.
“The approval was received within just after three months of submitting the file. After 95 days of receiving approval, investors and their family members can receive their passport”, said Arton Capital in a statement.
The first CIP investor made investment in Kolasin hotel project to receive his citizenship, according to Arton capital.
Arton Capital is one of the authorized agents appointed by Government of Montenegro for the Special citizenship program.
The Montenegro Government since the launch of the economic citizenship scheme, has announced efficient streamlined and transparent application process for citizenship investors.
“We were excited to submit the first ever application under the new program and we are humbled to obtain the first approval for a client of ours as well,” said Armand Arton, Founder and President of Arton Capital in a statement released yesterday.
The Special citizenship by investment program is limited to only 2000 investors and will only run for three years.
As per new CIP rules, investors must pay €250,000 in a development project and pay €100,000 fee per application. The investment threshold increases to €350,000 in Podgorica, and coastal towns. Prospective investors must keep in mind that only investing in APPROVED hotel projects will qualify for passports of Montenegro
So far, there are currently 4 approved development projects and least month the Government announced 5 applications have been received for Montenegro CIP.
Montenegro remains one of the exciting citizenship by investment programs for future investments. The country is a candidate country for EU membership and negotiations underway. Montenegro expressed interest to join schengen area on or after 2025 after becoming a EU member state.
The real estate prices in Montenegro remains lowest in Europe at the moment, making it desirable to invest in the property sector of Montenegro.
The Montenegro CIP has been ranked as the third best citizenship by investment program in the world in the recently released Best citizenship by investment rankings for 2020
The Montenegrin passport is also a very good travel document was ranked 58th best passport in the world in the Best Passport Rankings for 2020. As of 2020, the passport had visa free access to 127 countries in the world including EU schengen area, Russia, Turkey etc.
