Hongkongers, mainland Chinese struck on Montenegro’s passport-for-investment scheme with EU allure in 2025

Hongkongers are most interested in citizenship plans offered by Malta, Portugal and Montenegro, consultants say

Montenegro, St Lucia and Malta ranked as the top three for mainland Chinese investors thinking of emigrating

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The old town of Montenegro. Photo: World Imagery

Published: 9:30am, 21 Oct 2020Updated: 10:06am, 21 Oct 2020

The property market of Montenegro, which is seeking membership into the European Union, has gained attention from Hongkongers and mainland Chinese drawn to the Balkan country’s immigration by investment programme.

One project called Boka Place in Porto Montenegro, beckons wealthy investors where a piece of the residential and commercial neighbourhood west of the capital of Podgorica starts from 190,000 euros (US$223,740).

Since its launch in 2019, the Montenegrin programme has become the third most popular scheme among Hongkongers, after similar offerings from Malta and Portugal, according to immigration consultancy Henley & Partners. Mainland Chinese were most interested in Montenegro.

“Based on the enquiries we have received from Chinese this year, Montenegro was the top interest programme, followed by St Lucia and Malta,” said Dominic Volek, group head of private clients and head of Asia.

Boka Place offers 213 private residences in Porto Montenegro. The project is eligible for purchase under the Balkan state’s citizenship by investment programme. Photo: Handout

Montenegro, which covers 13,812 sq km, borders five countries including Croatia, Bosnia and Herzegovina and Serbia. About 75 per cent of its 623,000 population are Christians by faith, and about one-fifth Muslim. It’s set to join the EU in 2025.