In general, Montenegrin legislation does not prohibit dual citizenship. However, for some categories of foreigners, this small Balkan country makes an exception.
Montenegro, with a population of about 660,000, is a small state in the West of the Balkan Peninsula. The 2008 Citizenship Act governs issues related to citizenship.
According to the law, in most cases, a foreigner must renounce their former nationality to get Montenegrin citizenship. The naturalization process also requires the applicant to live in the country for ten years and know the local language.
Nevertheless, in some cases, dual nationality is still possible.
Privileges for the citizens and international treaties
The country gained complete independence on June 2006. Those who were dual nationals at that moment could retain their status.
Montenegro dual nationality is also possible for residents of those countries that have agreed on the mutual recognition of both citizenships. So far, only Macedonia has concluded such a treaty. The talks are now underway with Serbia.
Special citizenship program
Despite the strict naturalization rules, Montenegro is one of the few European countries that offer a citizenship by investment (CBI) program. Article 12 of the 2008 Citizenship Act regulates this rule.
The authorities launched the Montenegrin passport by investment program in 2010. But after a series of passport issuance scandals, the country suspended the program under pressure from the EU. However, after a few years, authorities reactivated the program to increase the country’s well-being. It allows foreign citizens to obtain a passport of a citizen of the country within six months and immigrate.
According to Immigrant Invest expert Elena Ruda, the conditions of participation in the program are as follows:
Investment through the purchase of real estate and donation
EUR 450,000 property investment in the coastal region or to the capital Podgorica. The investment amount for northern and central areas is smaller — EUR 250,000.
Additionally, an applicant has to make a EUR 100,000 donation to the Regional Development Fund and another 100,000 to the state budget of Montenegro.
Investment in agriculture or processing industry
The applicants can also become Montenegrin citizens by investing EUR 2,000.000 in primary agricultural production and creating at least ten jobs for residents.
As an alternative, there is a possibility to put funds into wood processing or fishing EUR 4,000.000 and 3,500.000, respectively, generating at least twenty new workplaces.
All the applicants also must pay a EUR 15,000 government fee. Any additional dependent requires an extra EUR 10,000 per person (for a family of four).
The advantages of Montenegro dual citizenship
There are a lot of benefits of having dual citizenship in Montenegro.
Low taxes
This sunny and hospitable Balkan country offers one of Europe’s lowest income tax rates. Thus, the personal income tax rate starts from 9%.
Visa-free travel
Montenegrin citizens have the right of free entry to more than 120 countries, including Schengen countries, Israel, and Turkey.
Possibility to obtain a second passport anonymously
The authorities do not reveal the names of the recipients of Montenegro dual citizenship.
In conclusion
With all that said, the answer to the question “Does Montenegro allow dual citizenship?” is “yes.” But interested investors should hurry. Under the relevant national legislation, the reception of applications for Montenegrin citizenship for investments will finish when the limit reaches 2,000 successful requests.