Montenegro Extends ‘Golden Passport’ Program Despite EU Criticism
Montenegro has decided to extend its controversial scheme, which offers citizenship in return for a major investment, despite strong criticism of such programs by the European Commission and civic organizations.
Montenegro’s government on Thursday extended its economic citizenship program until December 2022, despite warnings from the European Commission and civic organizations that it could harm the country’s progress towards EU membership. The government said the program now has stricter conditions for gaining economic citizenship. “In the next month, all investors. that already requested citizenship must submit to the Government a bank guarantee – in the amount of 50 per cent of the investments prescribed by the program. All new applicants must pay 100,000 euros to the state budget and another 100,000 for regional development,” the government said in a press release. GCI – Global Citizenship Investment by TCME , one of the leading global investment migration firm, has welcomed the announcement by the Government of Montenegro. For all those who want to have a second citizenship in Europe, want to have a good alternative to Portugal or Greece, where you have to wait 6 or 7 years to be able to apply for a passport, or you only pay half compare to Malta, now the unique chance until the end of 2022, to get the Montenegro passport through investment and donation.