According to official data, as of April 30, 2026, Montenegro granted citizenship to 867 foreign investors as part of the "golden passports" program completed in 2022. Seven more applications are under consideration by the police, while 239 applicants were rejected. The total amount of funds invested amounted to 251 million euros, while the vast majority of 250.5 million euros were allocated for the purchase of real estate in tourist condo hotels, and only 0.5 million euros for agriculture and the processing industry.
The program, launched in 2019, allowed foreigners to obtain Montenegrin citizenship with investments from 250 to 450 thousand euros, depending on the region. In addition to the main applicant, passports were also issued to spouses and children, so the total number of new citizens may exceed two thousand people. In addition to direct investments, participants paid a fee of 100,000 euros, from which, after deducting agency and bank commissions, the budget received 43.5 million euros as administrative payments and another 31.2 million euros to the Innovation Fund.
The main beneficiaries of the program were tourism projects, including Porto Montenegro, PortoNovi, Luštica Bay, as well as facilities in Kolasin and Zabljak owned by local investors.
The vast majority of applicants, according to previous data, represented Russia, China, the United States, Ukraine, Vietnam and Lebanon.
The program was suspended on January 1, 2023 at the request of the European Union, which has repeatedly criticized Montenegro for selling citizenship, pointing to the risks of money laundering, terrorist financing and threats to national security. The government of Dritan Abazovich has officially notified the European Commission of the termination of the acceptance of new applications, but has committed to consider all applications submitted by December 31, 2022.
Despite the formal completion of the application process, the legal disputes surrounding the program have not subsided. At the end of November 2025, the Administrative Court overturned several decisions of the Ministry of Internal Affairs on the denial of citizenship, recognizing that the agency had incorrectly applied the law. We are talking about at least 25 applicants whose claims have been satisfied, however, according to lawyer Milos Vukcevic, the Interior Ministry has not yet executed the court decisions. The agency insisted that it reserves the right to additional inspections "at its discretion," referring to the negative conclusions of the National Security Agency, but the court found such arguments untenable.
The delay in the execution of decisions threatens the state with additional financial losses. About 8 million euros have been frozen in the transitional account as part of these disputes, and applicants may file new claims for damages due to the delay in procedures. Lawyers warn that the authorities' delay could lead to millions in payments from the budget, which is especially sensitive for Montenegro, which is striving to maintain macroeconomic stability ahead of further EU accession negotiations.From the very beginning, the European Union opposed such schemes and considered them as an obstacle to integration. Nevertheless, Montenegro tried to find a compromise that would satisfy both economic interests and the demands of Brussels. In the meantime, the program has actually been closed, but the unresolved court cases and frozen funds indicate that the consequences of the "passport sale" will be felt by the Montenegrin authorities for a long time to come. The final number of investors who have obtained citizenship may change if the courts oblige the Interior Ministry to review rejected applications, and there are almost 240 of them.
A source: Vijesti.me
