Montenegro is preparing a new model of “Golden Visa” and plans to present it to the EU. Recall that 1.5 months ago, the country cancelled the “Citizenship for Investment” program due to EU recommendations.

What will the new program look like to attract investors? The Government of Montenegro plans to adjust a number of points in the concept of “golden passports,” including: 

1) The minimum investment amount will increase to €650,000, whereas before it was €250-450 thousand. 

2) All investors will be checked. More precisely, the sources of their funds will be checked for trustworthiness and legitimacy. 

Another important point: all the funds will be used only to repay the loan that China gave to Montenegro for the construction of the highway between the cities of Podgorica and Kolašin. 

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The authorities of the country hope that all these changes will suit the European Union and will not be an obstacle to the country’s accession to the Union in 2–3 years. 

By the way, the previous Montenegrin program, “Citizenship by Investment,” lasted four years and netted the government approximately €310 million. During this time, 800 investors, mainly from China and Russia, obtained Montenegrin passports. But this is not the final number: there are 240 more applications that were submitted until the end of 2022 and are waiting for a decision.