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Montenegro Set to Launch its Citizenship by Investment Program in January 2019

12-03-2018 12:00 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: HF Corporation

HF Corporation has welcomed the announcement regarding the launch of Montenegro citizenship-by-investment program.

Montenegro, a sovereign state in the Southeastern Europe, with a beautiful coastline on the Adriatic Sea is fast becoming the new hotspot for the affluent individuals.

The Government of Montenegro, in the 99th session of the Cabinet, adapted the decision on eligibility criteria, method and procedure for acquiring Montenegrin citizenship through the Special Investor Program (citizenship-by-investment program) of Montenegro. Montenegro Citizenship Program, termed the Special Investor Program, is designed to offer citizenship to eligible non-EU nationals who will make qualified investments in to the country. The program is capped at 2,000 applications and will be run for a limited period of three (3) years.

Applicants may acquire citizenship in Montenegro provided they make qualified investments and clear the rigorous background checks.

The investment requirements set by the government, under this program, which may be exclusively available to 2,000 bona-fide applicants, are as follows:

1- Donation of EUR 100,000 into a Government Fund, plus investment of EUR 250,000 in approved development projects in undeveloped regions (north and central region, except Podgorica);

OR

2- Donation of EUR 100,000 into a Government Fund, plus investment of EUR 450,000 in approved development projects in developed regions (Podgorica or coastal areas).

In addition, the applicants would have to pay government processing fees starting from EUR 15,000 for a single applicant, and EUR 10,000 for each additional dependent up to a family of four, after which a fee of EUR 50,000 for each additional dependent would apply.

‘’Montenegro is already emerging on the global map as an investment- and tourist-friendly destination,’’ said Dr. Hussain Farooq, President and CEO of HF Corporation, a citizenship advisory firm which advises its discerning clientele on the global citizenship programs and constantly monitors the development of such programs around the globe, in addition to publishing one of the most comprehensive rankings of citizenship programs.

‘’The strategic position of the country, pro-business environment, guaranteed equal treatment of foreign investors by law, and its membership of Council of Europe and European Free Trade Agreement are few of the features that add to the investors’ confidence – while the presence of one of the most spectacular coastline in Europe, and development of remarkable tourist facilities, has helped the country in setting new records in tourism. In the first nine (9) months of 2018, more than 2 million tourists visited the country. This year alone, 25 new hotel facilities have been opened in Montenegro, of which more than a half are 4 or 5-star hotels. There are some world-class real-estate projects in south of the country, and prospective citizenship applicants can invest in the projects that will be approved by the government, as eligible projects, under the citizenship program. Development of north of the country is also a special focus of the government, and this presents a great opportunity for sagacious investors,’’ concluded Dr. Farooq.

HF Corporation is a citizenship- and investment-advisory firm which, on one side, advises high net worth individuals on acquisition of second citizenship and residence, by way of citizenship-by-investment; while on the other hand it runs a governments advisory practice that liaises with different governments to build up strategies that could help in bolstering foreign direct investment, in their respective countries, through (re)structuring and promotion of such programs.

HF Corporation
31, A1, Johar Town, Lahore, 54000.

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