In Montenegro, 81 individuals hold deposits of one million euros or more in local banks, according to official data from the Central Bank of Montenegro (CBCG). These deposits account for about half of all bank deposits in the country, totaling around €3 billion. Among the millionaires, 33 are Montenegrin citizens and 48 are foreign nationals. The largest single deposit, €26.5 million, belongs to an Indian national.
The number of millionaires and their deposits has been growing steadily over the past five years. Compared to August 2020, deposits held by individuals with over one million euros have increased by 149%. Experts attribute the rise to international financial trends, Montenegro’s upcoming EU membership, and its NATO membership, which provide security for investors.
From 2019 to early 2023, Montenegro’s economic citizenship program granted citizenship to over 2,000 foreigners who invested approximately €250 million. Analysts suggest that the country could benefit more by encouraging these wealthy individuals to invest in the real economy, supporting sustainable economic growth.
A recent global wealth migration report indicates that Montenegro has seen the fastest growth in the number of millionaires worldwide over the past decade, with an estimated 2,800 millionaires, considering both bank deposits and overall assets.
