The Montenegrin government recently approved a report detailing the status of the Special Investment Program. As of September 2, a total of 1,113 applications for citizenship have been submitted under this program.
- Of these applications, 824 have received approval from the Ministry of Interior, and passports have been issued. Additionally, 17 applications are currently undergoing financial transfer verification by an independent auditor.
Up to this date, 235 applications have been rejected, primarily due to negative assessments from the international suitability agent and failure to meet established criteria.
- The Investment Agency reports that since the program began, a total of €243.3 million has been allocated to investors for tourism development projects. Currently, €11.2 million is held in ESCROW accounts for applicants whose cases are still under review by the relevant authorities.
Furthermore, for investments in agriculture and processing industries, investors have received €500,000 since the program’s initiation, which includes all funds held in ESCROW accounts.
According to data from the Central Treasury Account, the total amount collected for administrative fees since the program started is €43.57 million.
Additionally, the Innovation Fund has received €29.4 million to support innovation policy development. During this period, €2.5 million has been recorded in ESCROW accounts for applicants in review.
- Overall, records indicate that the total funds contributed to the Innovation Fund since the program began amount to €29.7 million. The Special Investment Program, which aimed to enhance the economic and business interests of Montenegro, concluded on December 31, 2022.
