Montenegro is preparing legislation that would introduce its first unified system for reviewing foreign investment in strategically sensitive industries.
The rules would apply to investors from outside the European Union, as well as Montenegro or EU-registered companies controlled by third-country investors. Transactions could be reviewed when an investor acquires direct or indirect control, significant influence, or at least 10% of a company’s ownership or voting rights.
Screening would cover energy, transport and logistics infrastructure, ports, airports, railways, telecommunications, cybersecurity, water supply, healthcare, biotechnology, financial systems and the media.
Other protected areas would include election infrastructure, defence, artificial intelligence, critical technologies, agricultural land, food production, sensitive data and strategic raw materials.
The Ministry of Economic Development would draft the law, manage reviews and serve as Montenegro’s contact point for cooperation with the European Commission and EU member states. A specialised unit would receive applications, examine transactions and coordinate with other government bodies.
Montenegro currently screens investments only in the production and sale of weapons and military equipment. The government says the broader mechanism is intended to identify potential security and public-order risks—not restrict legitimate foreign capital.
The proposed law forms part of Montenegro’s alignment with EU rules during its accession process.
