Montenegro.

Created by Government decision of 22 Nov 2018 (Službeni list CG 79/2018 of 7 Dec 2018), in force on the eighth day after publication (15 Dec 2018, the launched date) and applied from 1 Jan 2019 to 31 Dec 2021. It rests on art. 3a(2) of the Government decision on criteria for scientific, economic, cultural and sporting interest for naturalisation (Službeni list CG 34/10, 40/16, 62/18). Applicant pays EUR 100,000 into an escrow account for less developed municipalities and invests at least EUR 450,000 (Podgorica or coast) or EUR 250,000 (north/centre) in a government-listed development project (in practice condo-hotel units), plus fees of EUR 15,000 per applicant and EUR 10,000 per family member. From 31 Dec 2021 an extra EUR 100,000 to the Innovation Fund. Cap of 2,000 decisions. Applications only through licensed intermediary agents (Henley & Partners, Arton, Apex), with due-diligence agents. Originally to end 31 Dec 2021; extended on 30 Dec 2021 to 31 Dec 2022, then expired; pending applications still decided in 2026 (5 left on 1 Sep 2026). 1,113 applications filed nationally, 869 approved, 239 refused; the EC counts 556 main applicants with 1,281 family members. Over 70% of passports to 2022 went to Russian citizens (EC).

Montenegro's Law on Foreigners allows temporary residence 'for the use and disposal of rights to real property' a foreigner owns in Montenegro (houses, villas, flats, hospitality and business premises). Until 2026 the law set no minimum value (a 2015 decree on the type and value of such property, Sl. list CG 61/15, was repealed by the 2016 amendment). The amendment adopted on 31 December 2025 requires proof that the property's real-estate transfer tax base is at least EUR 150,000 (EU/EEA/Swiss nationals exempt); media reports of EUR 200,000 are not what the adopted text says. Launched 2015-04-01: the date the 2014 Law on Foreigners applies from (it enters into force on the eighth day after a publication date that isn't stored); the government's 2014 explanatory memorandum calls the property ground new; the 2026 entry-into-force date (eighth day after publication) is not stored, since the Službeni list publication is not stored, so the EUR 150,000 rule has no valid_from. Separate from the closed citizenship programme mne-cbi.