Montenegrin Economic Citizenship: Development Programme Launched

By , 13 Jan 2019, 03:12 AM Business
Montenegrin Economic Citizenship: Development Programme Launched Copyrights: Government of Montenegro

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11 January 2019 - The development programme that provides the possibility for persons to acquire Montenegrin citizenship by investments in the following three years is launched, based on a maximum of 2,000 applications.

The Decision on criteria, method, and procedure for selection of persons who may acquire Montenegrin citizenship by admission for the implementation of a special investment programme of particular importance for the business and economic interest of Montenegro began to be applicable on January 1, 2019.

The decision of the Government was adopted with the aim of developing Montenegro, i.e. with the goal of attracting foreign investments that will intensify development projects in the sector of tourism, agriculture and processing industry in the entire area of Montenegro, both in the north and in the south, as well as faster development of under-developed municipalities of Montenegro.

The model of the particular programme is GRANT + INVESTMENT.

A grant shall refer to the amount intended for development of under-developed local self-government units. The amount of the grant shall be 100,000 EUR per application of an applicant, which is a total of  200 million EUR for 2,000 applications, that being an amount that will be intended for development of under-developed local self-government units.

On the other hand, the investment shall refer to the amount intended for investment in one of the development projects from the Development Projects List that shall be defined by the Government at the proposal of the line ministries, while the amount that a legal entity shall be obliged to pay is as follows:

- at least 450,000 EUR, to invest in one of the development projects in the Capital City of Podgorica or the coastal zone of Montenegro; or

- at least 250,000 EUR, to invest in one of the development projects in the northern or central region of Montenegro, not including the Capital City of Podgorica.

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