First Potential Project for Economic Citizenship Reported in Kolasin

By , 15 May 2019, 15:12 PM Business
Project for Economic Citizenship in Kolasin Project for Economic Citizenship in Kolasin

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The Ministry of Sustainable Development and Tourism has already announced a project for economic citizenship, said the state secretary in that government, Damir Davidovic, adding that he was particularly pleased with the project in the north in Kolasin.

He reminded at the festival of investment FREI 2019 in Budva that a public call for projects for obtaining economic citizenship in the field of tourism was announced in February and is open until the end of 2021.

"The investor is expected to meet strict criteria, primarily the size of the investment, the number of jobs and the financial capacity to carry out the project. The business plan for such projects requires serious and extensive preparation, so we do not rush with the applications," Davidovic said.

The Ministry said that he explained that the realization of such projects does not mean just new investments, but new knowledge, ideas, investor partners, and perhaps offers in tourism.

Tourism projects can be hotels with at least five stars, 60 accommodation units and at least 80 new employees in the coastal region and Podgorica. In the north, it is necessary that the hotel has at least four stars, 35 accommodation units, and 25 new employees. The minimum project value on the coast and in Podgorica is 15 million euros, and in the north five million.

Secretary of the Secretariat for Development Projects, Dejan Medojevic, said he expected the program to accelerate economic and regional development and attract new foreign investments.

Also, through new tourist, agricultural, and processing capacities, new jobs will be opened, which will also affect the increase in living standards in the country. By realizing these projects, Montenegro will also meet demanding economic criteria from the European Agenda.

Medojevic added that there are two criteria for applicants. If investing in projects on the coast or in Podgorica, the minimum investment is 450 thousand euros, and in the north 250 thousand. In addition to investment in the project, applicants are required to pay 100,000 euros in donations to the state account, which will be used for the development of less developed areas.

He said that the first applicants are soon expected when agents for mediation and verification of international capabilities are granted licenses.

Director of the Directorate of Civil Status and Identity Documents at the Ministry of the Interior, Milanka Bakovic, stated that awarding citizenship is always reflected in the interests of Montenegro, namely scientific, cultural and sports. However, it is not enough when it comes to business and economic interest, so the criteria for economic citizenship was established.

She explained that the discretionary right of the Minister for Interior for approval to institute administrative proceedings for acquisition of Montenegrin citizenship by admission, that all conditions have to be met and the necessary opinions of the competent authorities have to be obtained when the Secretariat for Development Projects is informed as well.

"In order to ascertain whether the applicant fulfills the prescribed conditions, the persons concerned are being checked through the National Security Agency, Interpol and Europol. If it is established that the applicant or the agent has provided inaccurate information on the basis of that knowledge the procedure for the loss of economic citizenship will be initiated and the applicant has no right to be repaid with the funds already invested," Bakovic said.

She said that only adults gain citizenship and did not have to renounce their primary citizenship, but also those who are not welcome in EU countries will not be welcomed even in Montenegro.

Davidovic, speaking on the results in tourism, said that according to current results and projections, he believes that Montenegro will exceed last year's results and will be visited by some 2.5 million tourists who will realize over 14 million overnight stays.

He recalled that in the first quarter there was a growth in collective accommodation of 40 percent or about 35 thousand more guests than in the same period last year.

Text by MINA Business, on May 14th, 2019, read more at Vijesti

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