Montenegro consists of medieval villages, rugged mountains, Adriatic coastline’s narrow strip of beaches. Montenegro’s terrain ranges from high mountains and along the borders of Albania and Kosovo. The Balkan country is known for multiple tourist destinations like the Bay of Kotor, forming an unusual double-bay. The most remarkable mountain ranges are Mount Orjen, Mount Lovcen, and the Durmitor range.

Montenegro’s economy is shifting into a market system. Most state-owned companies are privatized. In fact, 100% of oil distribution, banking, and telecommunications are now private. Tourism has a big contribution, accounting for more than 20% of the countries GDP. The tourism industry brings visitors that’s three times their population every year. Many tourism complexes are developed along the coast while some are offered connection with yachting and boating facilities nearby.

The estimated population of Montenegro this 2020 is 627,952. The country is fairly low on population density with its 45 people for every square kilometer, ranking in the world’s 168th. Montenegro’s capital is Podgorica that has 30% of Montenegro’s population. The population is made up of 45% Montenegrins, 29% Serbs, 8.6 Bosniaks, 4.9% Albanians, 1% Roma, 1% Croats. The remaining groups like Egyptians, Serbo-Montenegrins, Montenegrins-Serbs have less than 1% rate in the population. The official language spoken in the country is Montenegrin. However, the Croatian, Bosnian, and Serbian are also easily understood.

Serbian Orthodox Christianity is recognized to be one of the most popular religions in the country. There’s also Islam, representing 19% of the population.

Montenegro has a parliamentary representative democratic republic. The head of a multi-party system and the government and is the Prime Minister. The government exercises executive power. The Parliament of Montenegro and the government holds the legislative power while the Judiciary is independent of the legislature and the executive.

Montenegro Citizenship by Investment

The new economic citizenship scheme announcement for foreign investors happened on Oct 1, 2018. On January 1, 2019, the decision about the program came and set to apply until December 31, 2021.

The government took a step to attract direct foreign investment and launched the Montenegro Citizenship by Investment Program. The government aims to increase activities in the economy by requiring the applicants for a defined contribution to their economy. The applicants are granted citizenship given that they make an investment in designated projects.

Conditions of Eligibility

Applicants must make a deposit of 15,000 Euros for themselves and 10,000 Euros for up to 4 members of the family. It would take 50,000 Euros for the next family member. The estimated minimum investment would be EUR 350,000 plus the extra passport fee.

You can invest $450,000 for developed areas or make the investment of EUR 250,000 on approved under-developed areas. The government designates capital fund contributions to improve the underdeveloped areas. The application will undergo a process, stringent vetting, and background checks. You’ll also have to pay a government fee of EUR 100,000.

Among the benefits of obtaining a Montenegrin Citizenship is the full citizenship to the applicant and family members. You can also have a visa-on-arrival or visa-free access to 124 destinations including the Schengen Area in Europe, Turkey, and Russia. Montenegro has a stable economy backed by a business-oriented government.

Applicants may expect the instant Montenegrin passport and citizenship within 3 months. The country is also an EU future candidate, joining the Schengen area by the year 2025. The beautiful country does not require a physical residence and has the cheapest prices for European properties.

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