Economic Citizenship: Mediation Agents Licence Costs 50.000 EUR

By , 09 Dec 2018, 03:28 AM Business
Economic Citizenship: Mediation Agents Licence Costs 50.000 EUR Copyrights: Cafe del Montenegro Photo

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07 December 2018 - A person who decides to be the mediation agent to persons applying for obtaining economic citizenship through investments, will have to pay 50.000 EUR for the licence. This was defined by the Government’s decision on the criteria, manner, and procedure of the selection of a person who can gain Montenegrin citizenship.

Licences are valid for one year and can be extended two times, at the request of a mediation agent.

Costs of issuing and extending the licence are borne by the mediation agent who must fulfill the following requirements: responsible person in that legal entity in Montenegro or in some other state hasn’t been sentenced to an unconditional prison sentence that lasted longer than one year, for a criminal offence that is prosecuted ex officio, and that he/she has been performing the same or similar activities in at least three states on the basis of the agreement, i.e. licence, and in at least one EU Member State.

Starting from the 1st January 2019, and in the next three years, maximum of 2.000 investors will be able to obtain Montenegrin citizenship.

An applicant for economic citizenship must deposit 450.000 EUR for the projects that are being implemented at the south of the state or in the Capital, 250.000 EUR for the projects in the north and central part of the state, and 100.000 EUR intended for the development of less developed areas.

Deposit for administration process per applicant amounts 15.000 EUR  and 10.000 EUR for every member of their family. If the family counts more than five members, 50.000 EUR tax is paid for each one.

The decision on economic citizenship was rendered with the aim of enhancing the economic development of the state and attracting investments.

Back in October, it was estimated that economic citizenship would bring more than 1 billion EUR to Montenegro. Read more about this here.

 

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