“Montenegro’s government adopted a regulation last week which allows granting of citizenship as part of a programme to spur investments in the country. Expected to come into force on October 1, the plan would enable up to 2,000 nationals of non-EU countries to apply for citizenship, during the next three years.

In order to apply for citizenship, interested individuals can either invest €250,000 ($292,327) in some of the government-approved projects in underdeveloped areas of the country, or €450,000 ($526,190) in projects in better developed locations around Montenegro, business daily Poslovni Dnevnik reported on Monday, citing Montenegro’s daily Vijesti.

The government also plans to charge a €100,000 ($116,931) fee to process each application, with fees collected going towards the government’s special development fund.” (N1)