In recent years, Turkish investors have increasingly preferred Montenegro as a secure, EU candidate, and investment-friendly country in the Balkans. Attractive real estate prices, ease of company formation, and tax advantages make Montenegro appealing; however, as of 2025, significant changes in visa and citizenship policies have emerged. This article comprehensively explains the current legal framework and strategic recommendations for Turkish citizens regarding investment, residence, and citizenship in Montenegro.
1. The Status of Turks in Montenegro
As of 2023, in Montenegro’s population of 623,633, Turks constitute approximately 0.29% of the total population. While Turks form a small minority demographically, the picture becomes more striking in terms of business and investment. According to various sources, there are around 10,000 Turkish-capital companies in Montenegro, accounting for roughly 20–33% of all foreign-owned businesses in the country.
This table demonstrates that Turkish investors have become significant actors in the Montenegrin economy. Turkish capital is particularly concentrated in the construction, tourism, real estate development, restaurant management, logistics, and retail sectors. Turkish companies are investing in hotel projects in tourist destinations such as Budva and Kotor, while focusing on office, residential, and commercial projects in Podgorica. These investments bring millions of euros of capital inflow into the Montenegrin economy and create employment opportunities.
At the diplomatic level, Turkey has also become one of Montenegro’s most important trade partners. The trade volume between the two countries has steadily increased in recent years, and Turkey is now among Montenegro’s top ten trading partners. Financial projects supported by Turkish Eximbank, Turkish Airlines’ flight networks to Podgorica and Tivat, and infrastructure projects by TİKA have strengthened the economic and institutional cooperation between the two nations.
From a sociocultural perspective, the Turkish community has also become visible in the urban life of Montenegro. Turkish restaurants, educational institutions, cultural centers, and Turkish-language signs have become widespread, especially in Budva, Podgorica, and Bar. Ramadan events, Turkish film screenings, and joint cultural projects have deepened the social and cultural interaction between the peoples of the two countries. This has also reinforced the long-term settlement tendency of Turkish investors and their families living in Montenegro.
2. New Visa Regime: Visa Requirement for Turkish Citizens
On the evening of October 25, a stabbing incident in Podgorica, Montenegro’s capital, involving Turkish citizens left one person injured. Following this event, protests and acts of violence targeting Turkish citizens and their businesses were reported in local media. Police detained two suspects (a Turkish and an Azerbaijani citizen) involved in the incident, as well as 45 Turkish and Azerbaijani nationals suspected of lacking valid residence permits.
Prime Minister Milojko Spajić announced that the visa-free regime for Turkish citizens would be temporarily suspended. According to Turkey’s Embassy in Podgorica, the decision took effect on October 30, 2025. Holders of ordinary (red) passports can no longer travel visa-free. However, Turkish citizens holding valid multiple-entry Schengen, US, UK, Canada, Australia, Japan, or Ireland visas or residence permits can still stay in Montenegro for up to 30 days without a Montenegrin visa.
This policy was introduced as part of Montenegro’s EU accession process, aligning its visa regime with European Union standards.
3. Citizenship by Investment (CIP) Program Is Now Closed
Under the Citizenship by Investment Program (CIP) launched in 2019, Montenegro granted citizenship to foreign nationals who made real estate investments of a specified amount. However, the program officially ended on December 31, 2022. Applications submitted before this date were processed throughout 2023, and as of 2025, no new applications are being accepted.
The decision to terminate the program was largely influenced by pressure from the European Union, as well as concerns about security and transparency. The EU viewed such “golden passport” programs as potentially risky, suggesting they could be exploited for purposes such as evading sanctions or laundering money. In line with its EU accession process, Montenegro decided not to extend the program and placed individuals who had already obtained citizenship under review.
During the period the CIP was active, approximately 1,100 applications were submitted, of which around 400–500 were approved and resulted in citizenship being granted. Although the possibility of obtaining citizenship through direct investment no longer exists, Montenegro still offers foreign investors residence permits and long-term residency options.
4. Residence Permit for Investors Still Possible
Although the citizenship-by-investment program has ended, investors can still obtain residence permits in Montenegro to live and conduct business.
Under the Law on Foreigners (Zakon o strancima), foreign nationals may obtain a temporary residence permit if they establish a company, purchase real estate, or meet income and health insurance requirements. Article 36 and related provisions of the Foreigners Act regulate the conditions for temporary residence, stating that a foreigner may be granted a residence permit if they can prove a legitimate purpose of stay—such as business activity, property ownership, or sufficient means of subsistence and health insurance coverage.
A temporary residence permit is usually issued for up to one year and can be renewed annually, provided the initial conditions remain valid. Applicants must provide documentation including a valid passport, proof of accommodation (rental contract or property title), proof of sufficient financial means, health insurance, and a clean criminal record certificate.
Foreign investors can obtain residency through several routes:
- Company formation: By registering a company in Montenegro and beingemployed or appointed as a managing director within that entity.
- Real estate ownership: By purchasing developed (habitable) real estate in Montenegro — land or unbuilt property does not generally qualify.
- Financial stability: By demonstrating adequate and legal sources of income to cover living expenses during the stay.
After five years of continuous temporary residence, a foreigner may apply for a permanent residence permit, as provided under Article 40 of the Foreigners Act. This allows long-term residence rights similar to those of Montenegrin nationals, though it does not automatically confer citizenship.
a) Residence Through Company Formation
An investor may establish a company in Montenegro and appoint themselves as a manager or employee. The company must remain active and comply with tax obligations. The initial residence permit is issued for one year and can be renewed annually. After five consecutive years, the investor becomes eligible for permanent residence.
b) Residence Through Property Ownership
Investors who purchase property in Montenegro may also obtain residence permits. The law does not prescribe a minimum investment threshold; what matters is that the property is registered, habitable, and under the applicant’s use.
c) Common Requirements
Applicants must demonstrate sufficient financial means, provide proof of accommodation, obtain health insurance, submit a clean criminal record, and pose no threat to public order or national security.
5. Alternative Paths to Citizenship
Although direct citizenship through investment is no longer available, several legal pathways to Montenegrin citizenship remain:
a) Long-Term Residence (Naturalization)
Foreigners who have legally resided in Montenegro for at least 10 consecutive years may apply for citizenship. Applicants must demonstrate knowledge of the Montenegrin language, adequate income, and social integration. Dual citizenship is generally not permitted, though exceptions exist.
b) Descendants of Montenegrin Migrants
Individuals who are descendants (up to the third degree) of Montenegrin emigrants can apply for citizenship after at least two years of legal residence in Montenegro. This rule creates a significant opportunity for Turkish citizens of Montenegrin descent.
c) Marriage or Adoption
Foreigners married to Montenegrin citizens may obtain citizenship after a certain period. Children adopted by Montenegrin citizens also acquire citizenship rights.
6. Impact of the New Visa Regime on Investors
Montenegro’s new visa policy, which came into effect in 2025, has not only technically restricted investors’ access to the country but has also transformed the overall investment environment. Entry into the country, the execution of investments, and residency procedures now require more documentation, planning, and time. This shift has compelled investors to adopt a long-term residence and sustainable investment model, rather than pursuing short-term citizenship or quick-return objectives.
The new regulation emphasizes the condition of “continuous presence and active operation,” particularly in real estate and small-scale business investments. Merely owning a property or establishing a company is no longer considered sufficient; investors are now expected to demonstrate their economic contribution to the country, compliance with tax obligations, and long-term commitment. This approach encourages investors to maintain a physical presence in Montenegro and to continue their business activities actively.
Additionally, the verification process for residence permits and renewals has been tightened, with greater scrutiny placed on the legitimacy of financial resources, the accuracy of income documentation, and the fulfillment of tax liabilities. This requires a higher degree of transparency and institutional compliance from investors.
Consequently, the era of acquiring citizenship solely through capital inflow has ended, giving way to an EU-aligned system that prioritizes investors’ lasting contributions to Montenegro’s economy.
This new framework also creates an opportunity for Turkish investors who are committed to genuine, job-creating, and economically beneficial investments. While the Montenegrin government is developing policies to support such investors, it is limiting residence permits based on short-term or speculative investments.
Conclusion
Although Montenegro has changed its visa policy and closed the investment citizenship program in line with its EU accession process, it continues to offer significant opportunities for investors. For Turkish investors, the most realistic path is to invest to obtain residence and eventually qualify for citizenship through long-term residence.