Citizenship by Investment Montenegro
ALTERNATIVE CITIZENSHIP / 2ND PASSPORTS

Citizenship by Investment Programs (CBI) / (CPI)

Citizenship Legislation
Process
(months)
Latest/Important News Total
Investment¹
(Single)
Donation¹
(2+2 U18)
Donation¹
Real Estate¹ Govt. Bonds¹ Business Investment¹ Create Jobs?

ANTIGUA
 2012
4-6 Jan’18: PM calls Trudeau’s bluff, wants visa-free entry to Canada back
Oct’17: Antigua CIP Head arrested in UK bribery investigation
Oct’17: Antigua cuts NDF donation to $100k
Jun’17: Antigua passport holders lose visa-free entry to Canada


$100,000 $100,000 $100,000 $400,000 N/A $1.5M no
CYPRUS
 2011
3-6 Jul’17: Cyprus may “consider” cap on # of applicants; 1,000+ passports sold since 2013 (Finance Min. Georgiades)


€2M €2M €2M €500,000² €500,000² €2M no
DOMINICA
 2013
4-6 Jan’18: Japan MOD catches UN violation w/ N. Korea oil trading
Nov’17: Govt-owned DRMI violates US OFAC Iran sanctions
Sep’17: Dominica lowers citizenship fees amid Caribbean price war


$100,000 $100,000 $200,000 $200,000 N/A N/A no
GRENADA
 2013
4-6 Feb’18: USA EB5 visa fraud class-action lawsuit defendant USREDA still on Grenada’s approved agent list  
Jan’18: EU removes Grenada from its tax-haven blacklist
Nov’17: 5 Carib-CBI PMs meet to discuss price war after Grenada cuts NTF donation to $150K


$150,000 $150,000 $200,000 $350,000 N/A N/A no
MACEDONIA
 2012
9-10 Jan’18: Govt. press office confirms existing 2012 CBI directive
Jun’14: US State Dept. mentions rarely-publicized Macedonian CBI


€400,000 €400,000 €400,000 €400,000 €400,000 €400,000 10+
MALTA
 2013
18+ Nov’17: T/Rtrs says Malta should mentor Caribbean on due diligence
2014: 2013 legislation replaced by Malta IIP 2014


€1.15M €650,000 €725,000 €350,000 €150,000 N/A no
MOLDOVA
 2017
TBD Oct’17: Moldova State News Agency clarifies required investments
Sept’17: PM ratifies CBI, qualifying real estate only €250,000
Ministry of Justice official gazette: Russian version


€100,000 €100,000 TBD €250,000 €250,000 N/A no
ST. KITTS
 1984
3*-6 Nov’17: PM celebrates “award from investment conference in Russia sponsored by own govt. marketing agent, CS Global Partners
Sep’17: St. Kitts cuts required donation by 50%


$150,000 $150,000 $150,000 $400,000 N/A N/A no
ST. LUCIA
 2015
4-6 Jan’18: EU keeps Saint Lucia on tax-haven blacklist
Jan’17: Saint Lucia cuts donation to $100k


$100,000 $100,000 $190,000 $300,000 $500,000 $3.5M no
TURKEY
 2017
6+ Prime Minister’s ISPAT office clarifies Jan’17 gazette FDI amounts


$1M $1M $1M $1M $3M $2M 100+
VANUATU
 2017
3-4 Nov’17: Vanuatu Information Center publishes CBI promo video
Oct’17: Vanuatu re-launches “honorary citizenship” w/ global representative, HLG (ask for SITREP on HLG’s Asian virtual offices)


$220,000 $220,000 $280,000 N/A N/A N/A no
MONTENEGRO
 2008
TBD Feb’17: Govt. to reopen CBI; sells licenses to market CBI for €150K
2010: CBI suspended after fugitive ex-Thai PM scandal
2008: Citizenship Act of 2008 includes CBI provision


€500,000 €500,000 €500,000 €500,000 €500,000 €500,000 no
 ¹excluding: due diligence fees and/or govt. processing fees and/or application fees and/or authorized agent fees and/or passport issuance fees


 ²Cyprus CBI: govt. bonds up to maximum €500K can be included in €2M combined investment total; if included, RE must be valued minimum €500K


*must pay extra for St. Kitts “60-day accelerated process”

ALTERNATIVE CITIZENSHIP / 2ND PASSPORTS

CBI / CIP Requirements

WHAT ARE THE REQUIREMENTS FOR OBTAINING A 2ND PASSPORT? 

Each country has a different set of requirements that applicants must fulfill for its citizenship by investment program. For example, some programs require medical examinations and proof of good health, while others do not. However, some requirements are common to all citizenship by investment programs, often called “CBI”, or “CIP”:

  • pass a due diligence background check indicating no criminal activity nor any questionable financial, familial, or social ties
  • show the legal source of the investment funds
  • make one or more of the required CBI / CIP investment options:
    • donating directly to the government or a government-owned economic development fund (almost always the cheapest and easiest way to qualify)
    • purchasing local real estate (often with restrictions requiring you to hold the property for at least 3 or 5-years before selling)
    • buying non-interest bearing government bonds
    • investing in an approved enterprise project
      • or having your startup business plan approved (very difficult to do)
    • creating jobs for the local economy (rarely found in the industry, currently only in Macedonia and Turkey where an applicant must create at least 10 or 100 local jobs, respectively, to qualify for CBI)

All requirements must be met in order for citizenship applications to be approved by the host government.

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