On March 13, 2024, the Government of Montenegro officially issued citizenship approval for both the families of clients S.T.N and N.T.P.
Previously, in late December 2022, just five days before the Government of Montenegro closed the application period, SI Group successfully assisted these clients in completing their Montenegro citizenship-by-investment applications. As a result, both families have now officially been granted Montenegrin citizenship as of March 13, 2024.
Journey of Submitting the Application and Receiving Results from the Montenegrin Government
Montenegro, a beautiful country located in Southern Europe, is known for its scenic landscapes and UNESCO World Heritage sites. Compared to other EU countries, Montenegro has strong economic growth potential, driven by its focus on expanding business freedom and maintaining a stable monetary market. The Montenegrin government has successfully attracted foreign investors through its citizenship-by-investment program.
Aside from benefits related to healthcare, education, tax policies, and business investment opportunities, Montenegrin citizenship also allows easy access to the U.S. E-2 visa. This non-immigrant visa enables foreign investors to bring their families to the U.S. to live, study, and work by investing in a U.S.-based business.
In a context where obtaining a U.S. visa is increasingly challenging, Montenegro’s citizenship-by-investment program provides a “shortcut” for families seeking to relocate to the United States.
While the requirements for Montenegrin citizenship are less stringent than those of similar programs in the U.S., Australia, or other European countries, the process can still be complex and time-consuming. The greatest challenges are often the time constraints and procedural difficulties, especially during periods affected by the COVID-19 pandemic. As a result, many service providers have been reluctant to assist with Montenegrin citizenship applications or have returned such cases due to the difficulties involved.
SI Group’s comprehensive solution for the two clients included facilitating the necessary authorizations for a Montenegrin lawyer to open bank accounts and fulfill the required investments as specified by the government. Documents were consularized in a third-country intermediary before being submitted to Montenegrin authorities. Additionally, upon receiving citizenship approval, clients were required to disburse €250,000 in real estate investments and contribute €1,200,000 to the government to support an economic benefit program.
The successful citizenship approvals from the Montenegrin government for both families mark a significant achievement for the clients and SI Group after two years of effort. Next, SI Group will assist the families in traveling to Montenegro to complete the remaining formalities, including biometric registration and receiving their citizenship certificates and passports.
