Residency / Bank accounts / Companies in Montenegro
Montenegro Passport: Rank & Price (2023 update)
Ever wondered how the Montenegrin passport ranks in the popular passport indices? Want to find out how many countries give visa-free access to Montenegro passport holders?
Montenegro is a small country bordering Croatia to its North with a population of just 628,000. The official language is Montenegrin, almost identical to Serbian and very close to the Croatian Language. The official currency in Montenegro is the Euro.
In the following article, I will discuss how powerful the Montenegrin Passport is, what options are available to move from a residence permit in Montenegro to Citizenship, and what major destinations can be reached visa-free and with a visa on arrival.
How powerful is the Montenegro passport?
According to the Arton Capital Passport Index, the Montenegrin passport ranks 33th on the Global Passports Power Ranking Scale. Andrew Henderson over at the Nomad Capitalist has a different ranking method and attributes it Nomad Rank 39, above countries such as Russia, Turkey, South Africa, and Qatar.
In the Henley Passport Index, the Montenegrin passport is ranked 46th with 124 destinations that can be accessed visa-free. Montenegro passport holders have visa-free access to all European countries, most of South America, as well as Russia and Turkey.
In the Guide passport ranking index, the Montenegrin passport appears at position 46, the same as in the Henley Passport Index.
Montenegro Passport Rank
The Montenegrin passport ranks 46th in the Guide Consultants and Henley & Partners passport indices. Nomad Capitalist and Aarton Capital rank it slightly better at positions 39 and 33.
No wonder, it has been on the radar of affluent businessmen and international travelers alike as a viable alternative to many hard-to-get European passports.
Can Montenegro citizens travel to the EU?
Montenegro passport holders have visa-free access to all countries of the European Union, the Schengen Area, and the European Economic Area. Visa-free destinations thus also include Switzerland, Norway, France, and Germany.
Montenegrins can stay up to 90 days visa-free in the above-mentioned European countries. If they plan to stay longer than that, they will need to regulate their residency status by applying for a visa or temporary residence permit.
A visa is still required in other countries that are not part of the EU, such as the United Kingdom of Great Britain and Northern Ireland.
Montenegro Passport Visa-Free Countries in 2023
source: Wikipedia
Montenegrin passport holders can enter the following countries visa-free:
- Albania, Andorra, Argentina, Armenia, Austria, Belarus, Belgium, Bosnia and Herzegovina, Brazil, Bulgaria
- Chile, Colombia, Costa Rica, Croatia, Cuba, Cyprus, Czech Republic, Denmark, Dominica
- Ecuador, Estonia, Eswatini, Finland, France, Gambia, Georgia, Germany, Greece
- Haiti, Hungary, Iceland, Israel, Italy, Kyrgyzstan, South Korea, Latvia, Liechtenstein, Lithuania, Luxembourg
- Malta, Micronesia, Moldova, Monaco, Netherlands, North Macedonia, Norway
- Panama, Peru, Poland, Portugal, Romania, Russia, Saint Kitts and Nevis, Saint Lucia, Saint Vincent, and the Grenadines
- San Marino, Serbia, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland
- Trinidad and Tobago, Tunisia, Turkey, Ukraine, United Arab Emirates, Uruguay, Uzbekistan, Vatican City, and Zambia.
Montenegro Passport Visa on arrival countries
Montenegro citizens can get a visa on arrival right at the airport of the following countries.
- Bangladesh, Bolivia, Burundi, Cape Verde, Comoros, Grenada
- Jamaica, Jordan, Laos, Lebanon, Madagascar, Malawi
- Maldives, Mauritania, Mauritius, Mozambique, Nepal, Nicaragua
- Palau, Somalia, Timor-Leste, Togo, Tuvalu.
Montenegrin passport holders need to formally apply for a tourist visa for all nations that are not on the list of either visa-free countries or visa-on-arrival countries. Roughly twenty of them offer fast electronic visas.
Can you buy Montenegro citizenship?
***Important Update: The Montenegro Citizenship by Investment program officially closed in December 2022.***
The Montenegrin Citizenship by Investment Program launched on the 1st of Oct, 2018. The Montenegrin government will be issuing up to 2000 Montenegrin passports to everyone who fulfills the requirements of the program.
The CIP model of economic citizenship requires a (non-refundable) donation of 200,000€ to the Government’s development fund plus an Investment of 250,000€ in government-approved projects in the underdeveloped northern region of Montenegro, or an investment of 450,000€ in the developed southern area. The Administration wants to spur economic activity and job creation.
Montenegro passport price
The total price to obtain a passport in Montenegro through the Citizenship by Investment scheme for one person amounts to 472,000 Euros including fees. Each additional family member adds another 20,000 Euros to the bill.
Adding the Grant to the investment amount brings the total required Investment capital to 450,000€ (650,000€). There is an application fee in the amount of 15,000€ for the applicant and 10,000€ for each family member (4 members at maximum). Furthermore, the applicant needs to prove that he has not been sentenced to more than one year for a criminal offense conducted in Montenegro or another state.
Luckily, this program does not require any language tests or prior business experience from the applicant. Also, he does not need to serve in the Montenegrin military. And, what makes this offer particularly appealing to non-European citizens, is the fact, that it guarantees free movement within the EU countries and the whole Schengen area.
All in all, it is an interesting offer for especially non-European wealthy investors that want to safely bet on Montenegro’s EU accession in 2025, which would add even more strength to its passport.
Passport through Residency
If you can be patient, there is a less expensive way to obtain Montenegro citizenship. What you need to do, is first obtain a one-year temporary residency permit. A temporary residence permit can be approved if the applicant wants to work in Montenegro, take on studies at a local university, or rejoin his family. This temporary residency can be extended until the foreign citizen qualifies for permanent residency.
Permanent residence is given if you have spent more than 5 years in Montenegro, and have been married to a Montenegrin citizen for more than 3 years. Alternatively, you can prove your Montenegrin origin or are the offspring or close relative to a Montenegrin.
After 5 years of being a permanent citizen, you can apply for citizenship. The process is straightforward and well-structured.
Ten years is not a small time frame but still, a good option if you do not have close to half a million in cash.
Montenegro’s EU accession in 2025
Montenegro is set to become the next EU member state as early as 2025. Large economic and social progress following the separation from Serbia in 2006 has made Montenegro’s economy the most stable economy in the Western Balkans. The GDP growth rate for the year 2022 was 12.7% (one of the highest in Europe).
As things stand now, it is almost given that it will join the EU between 2025 and 2030. The full membership no doubt will make its passport even stronger and vary people from abroad are eying on a full EU passport within 6 years for a relatively cheap investment amount.
Benefits of a 2nd passport and residency in Montenegro
Having a second passport holds nothing but advantages for the passport holder. Citizens of politically unstable countries often undergo discrimination due to their nationality. Immigration officers and embassy employees look very closely if you are on their list of “flagged countries”. This can mean enormous stress to you and your family. Dual citizenship will make you stand in another light and it will be easier to pass the airport and immigration controls. It gives you control, protection, and stability.
Summary
Though being a small country, Montenegro has a relatively strong passport with visa-free travel to 124 countries and freedom of movement in the Schengen area. Foreign citizens interested in obtaining a Montenegrin passport need to be aware that it takes 5 years of temporary residency and another 5 years of permanent residence to qualify for citizenship. Alternatively, the CIP scheme grants citizenship to affluent investors who invest at least 472,000€ in Montenegro.
Now, that the investment program is closed, your only option to work towards becoming a citizen of Montenegro one day is to take advantage of the Residency by Company Formation program. You can establish a company in Montenegro and receive your temporary residence permit immediately.
Then, after renewing it for 5 years, you can apply for permanent residency. After 10 years in total, you can apply for citizenship.
You might also be interested in reading our other posts about Montenegro: