Montenegro Introduces Economic Citizenship Program

Montenegro has introduced an economic citizenship program that Canada’s ambassador to the region – John Morrison – has said was modeled after Canada.

Under the program, an individual can obtain Montenegrin citizenship if she/she invests at least EUR 500,000 (CAD $662,650) in the country.  Part of the money will go straight to the government, while part of it will remain with the applicant to invest directly into the economy. Applicants will be checked to ensure that  funds were acquired legitimately. International advisers will be consulted for this purpose.

Montenegro, which became independent from Serbia in 2006, has approximately 670,000 people. It is the first country in the region to introduce such a program.

Citizens of Montenegro can travel to the EU without a visa.