Recently, two countries disclosed residence and citizenship programs. «In the future I think we can see more European countries joining the trend,» Philippe May from Arton Capital said.
The government of Montenegro decided to start its own citizenship program, after several years of consideration and calibration. The small former Yugoslav republic has already joined NATO, its citizens travel visa-free to 117 countries – including Russia, Schengen, UAE, Singapore, Hong Kong and many more – and its beautiful coastline is quickly turning into something like the «Monaco of the Adriatic Sea».
The cornerstones of the program are already confirmed: potential new citizens are expected to hold permanent residence for six months before naturalization, although a physical presence is not required.
Most Sought-After Project
Besides a donation of 100,000 euros ($115,475), every main applicant shall purchase an approved property for a minimum amount of either 450,000 euros (for properties in the more developed south) or 250,000 euros (in the less-developed north).
The Westin Hotel in Kolasin is widely considered to become an approved property and will be one of the most sought-after projects among punters in the north.
Visa-Free Access to Mainland China
The second country to join the party was Anguilla, a British overseas territory in the Caribbean, which signed a memorandum of understanding in September with Arton Capital and Latitude, two of the leading consulting firms in order to set up a new residency program. The details of the program shall be announced within the coming weeks.
Further south in the Caribbean, Grenada, a well-established citizenship-by-investment destination for discerned high net worth individuals – the only one with visa-free access to mainland China – has decided to permit adult, but unmarried, siblings to join a family application.
Pressure on the Caribbean
In the past families with adult siblings usually had to file two more separate applications (at multiple costs), but this can be done away with now – regardless of the age and number of siblings (at least, as long as they are not married).
«In the future, I think we can see more European countries joining the trend, putting additional pressure on Caribbean players to amend or update their programs,» Philippe May (pictured above), head of Asia Pacific at Arton Capital in Singapore.
