Montenegro: Citizenship by investment in Montenegro

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2026

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Montenegro: Citizenship by investment in Montenegro

intl-updates-small.jpg

The recent geopolitical situation in the Middle East has motivated a significant number of Asian high-net-worth individuals to consider moving westward towards European markets, contributing considerably to the development of so-called 'rich immigration'.

As such, the government of Montenegro has been working on an attractive citizenship-by-investment programme that is expected to provide a significant boost to the economy by allowing the expansion of various forms of business from abroad. For three years, starting from October 2018, the government of this NATO-member country will grant citizenship by naturalisation to 2,000 qualifying entrepreneurs from non-EU countries.

Per the scheme, foreign investors will be considered eligible for naturalisation by exception if they meet one of the following investment criteria:

  • Invest €250,000 ($292,000) in projects in non-developed areas of Montenegro (mainly located in the north of the country), provided that these projects have prior government approval; or

  • Invest €450,000 in projects in developed areas of Montenegro (the southern region), again with prior government approval.

An additional €100,000 (government fund donation) will be required by the government for each submitted application. This amount will be used for regions under development in Montenegro.

The government has stated that the application procedure will be speedy, allowing for permanent residence status within three weeks and subsequently citizenship being granted within six months.

We advise non-EU nationals thinking about investing in Europe to consider seriously the option of investing in strategically-located Montenegro, which is expected to be a full EU member by 2025. Coupled with the skilled workforce, stable tax system and general safety and stability, the new naturalisation incentives make this small coastal country a very attractive European investment destination.

more across site & shared bottom lb ros

More from across our site

As pillar two reshapes global tax competition, the UK faces a crucial challenge: how to remain attractive to multinationals without sacrificing tax revenues
Pillar two may be raising less than expected, but professor René Matteotti says the regime is still changing multinational tax behaviour
Multinationals importing goods into Brazil may need to align TP files and customs documentation more closely as authorities gain new tools to challenge related-party transactions
The private equity-backed deal hands Grant Thornton immediate and impressive US scale, but World Tax data suggests the firm still has work to do to gain recognition
From Instagram content to £100m transactions, the founder of Thomas & Co International discusses building a modern tax and accounting firm for business founders
Growing GAAR scrutiny is driving taxpayers to look beyond legal form and demonstrate the commercial rationale underpinning tax-efficient structures
Pillar two has been clients’ ‘biggest headache’ but also a driver of growth for MHA, which believes it has the edge over its big four rivals
Public country-by-country reporting is exposing multinational tax data to investors, journalists and competitors, creating fresh risks for businesses
Pillar two compliance is creating unprecedented data demands for multinational tax departments, making closer collaboration with FP&A teams essential for accurate reporting and audit readiness
Among the arrivals is Andrew Howell, who leaves scandal-hit PwC Australia after representing PepsiCo in a high-profile TP dispute
Gift this article