Henley & Partners [https://www.henleyglobal.com] is delighted to announce its 
milestone submission of 100 applications for the Montenegro 
Citizenship-by-Investment Program 
[https://www.henleyglobal.com/citizenship-investment/montenegro]. Of these, 33 
international investors and their families have already received both their 
citizenship and their passports, despite the ongoing disruptions caused by the 
coronavirus pandemic. The leading global residence and citizenship planning 
firm is one of only three government-appointed marketing agents for the highly 
sought-after citizenship-by-investment program, which is due to close at the 
end of this year. 

Rade Ljumovic [https://www.henleyglobal.com/about/key-people/rade-ljumovic], 
Director at Henley & Partners in Montenegro, says the program offers 
high-net-worth investors a significant opportunity in a dynamic regional market 
but there are only a few months left to apply. "One reason for Montenegro's 
success is that it caters for investors with a diverse range of interests and 
requirements. Investors can choose between glamorous seaside resorts where they 
can invest in new hotels that are being established by reputable developers, 
including cutting-edge options such as the SIRO brand by Kerzner International 
and InterContinental. Alternatively, they can opt for the northern parts of the 
country, where there are exclusive ski and mountain resorts in advanced stages 
of construction such as Swissotel."

Montenegro is currently on the EU's "safe list" of countries with relatively 
low rates of Covid-19 infection, and its passport ranks 45th on the Henley 
Passport Index [https://www.henleyglobal.com/passport-index], providing its 
holders with visa-free or visa-on-arrival access to 124 destinations worldwide, 
including Hong Kong, Russia, Singapore, Turkey, the UAE, and the countries in 
Europe's Schengen Area. As well as being a NATO member, Montenegro is a 
recognized candidate for future membership of the EU, with the government's 
chief negotiator, Zorka Kordic, recently giving 2024 as the target timeline for 
Montenegrin accession. Last month, the EU Information Centre in Montenegro 
published research findings showing that 73.8% of the population supported EU 
accession, and 86.9% would vote in favor of joining the EU should there be a 
referendum on the question. The EU ambassador to Montenegro, Oana Cristina 
Popa, recently noted that the trust of Montenegrin citizens is motivating to 
the EU and encouraging for Montenegro's accession. 

Applicants to the Montenegro Citizenship-by-Investment Program 
[https://www.henleyglobal.com/citizenship-investment/montenegro] are required 
to make a defined economic contribution to the country. In exchange, and 
subject to a stringent vetting and due diligence process including thorough 
background checks by specialized firms, applicants and their families are 
granted Montenegrin citizenship. The main applicant must be over 18 years of 
age, meet the application requirements, and contribute EUR 100,000 to the 
Government of Montenegro, designated for the advancement of local 
under-developed, self-government units. In addition, applicants can invest at 
least EUR 450,000 in an approved development project in the capital Podgorica 
or in the popular coastal region of Montenegro. Alternatively, they can invest 
a minimum of EUR 250,000 in an approved development project in the northern or 
central regions of Montenegro (excluding Podgorica). Additional government 
processing fees and other application fees apply.

CEO of Henley & Partners, Dr. Juerg Steffen 
[https://www.henleyglobal.com/about/key-people/dr-juerg-steffen], says the 
resulting increase in business activity and new employment opportunities 
created by the program will benefit all Montenegrins. "Investment migration 
enables sovereign states such as Montenegro to tap into a new source of 
sustainable revenue without becoming overleveraged. In the current pandemic 
environment, as in the wake of previous disruptions such as the 2008 financial 
crisis, residence and citizenship programs create significant value both for 
investors and for sovereign states in need of alternative revenue streams."

Source: Henley & Partners