The Henley & Partners company announced that in October it will launch a citizenship acquisition program based on investment in Montenegro with the Government of Montenegro, for which they expect great interest from the United Arab Emirates (UAE).
This global investment migration company announced that they have been advising the Government of Montenegro for more than eight years on the possible introduction of the economic citizenship program and are very pleased that it has now been launched.
"The citizenship by investment program of Montenegro will be limited to only 2.000 candidates and will offer individuals several options, including an investment of 450.000 euros in projects in developed areas or an investment of 250.000 euros in projects in less developed areas. In addition, the government will charge a fee of 100.000 euros per application. The compensation will be directed to a special fund for the development of underdeveloped areas," Henly said in a statement.
The Montenegrin Ministry of Sustainable Development and Tourism, which is responsible for this program, referred "Vijesti" to the Prime Minister's Office for answers to questions about whether they chose the Henly company as a marketing agent for the implementation of the economic citizenship program, whether the program will begin to be implemented on October 1 and whether more detailed criteria have been determined. The answers have not yet arrived from the Cabinet of Prime Minister Duško Marković.
"Montenegro aims to develop a sustainable economic model, offering investment opportunities in various trade and investment sectors, and we believe that this latest citizenship-by-investment program is a step in the right direction. We anticipate significant interest from the UAE for citizenship through investment opportunities in jurisdictions such as Montenegro," said Marco Gantenbein, Henlei & Partners Global Executive Board Member and Henlei & Partners Dubai Managing Partner.
In October 2017, the UAE and Montenegro extended the visa exemption agreement to ordinary passport holders. After that, citizens of Montenegro currently have visa-free access to 123 countries.
The European Commission previously warned that, when granting citizenship to foreign investors, Montenegro will have to comply with strict European norms and criteria for preventing security risks.
The head of the EU Delegation in Podgorica, Aivo Orav, said in July, the day after the adoption of the program, that the Government should carefully consider the issue, so as not to create any obstacle on the way to the EU.
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