Economic citizenship programs are not unknown for a long time and many countries have been successfully applying them for many years. From 2019, investors can participate in this program in Montenegro as well.
According to the criteria prescribed in the citizenship by investment program, a Montenegrin passport can be obtained after payment of 100.000 euros to the state account. These funds are used for less developed areas in order to encourage their development. The minimum amount of investment is 450.000 euros in Podgorica and on the coast, while applicants choose 250.000 euros for projects in the north of Montenegro.
In a promising tourist destination such as Montenegro, it is not unusual for investors to choose projects from the field of tourism. If they decide on the coast, their project must have five stars, 60 accommodation units and 80 employees, and the minimum investment value is 15 million euros. In the north, the minimum investment is 5 million euros in projects that will have a minimum of 4 stars, 35 accommodation units and 25 newly employed workers.
The arrival of foreign investors undoubtedly means the arrival of new ideas. In addition to financial, they also bring intellectual capital, which, in cooperation with local experts, they develop through projects that are manifold beneficial for our country. Especially important is the fact that legal and administrative frameworks in the state and local communities are developed through such projects, which help to facilitate these processes and to bring a certain project to an end in the shortest possible time, respecting laws and procedures. In this regard, there is also a very important dimension in this exchange of ideas, which is that foreign investors, by obtaining a passport, with which they can enter more than 120 countries of the world visa-free, to their home countries but also through other trips, carry the voice of In Montenegro, they become ambassadors and promoters of our country, especially in the richest strata of society, who then themselves become potential investors.
By building new hotels, Montenegro's tourist offer is being enriched. In order for the destination to remain current and fight for guests in the competition of much more developed countries from our environment, it is necessary to constantly create new contents, bring innovations and find ways to convey the offer to interested clients. The private sector develops and expands through investment processes, and through investment programs, the number of those who move the entire society forward grows.
Investments in tourism are in most cases 5* hotels, and it is not uncommon for investors to choose hotels of a world-famous brand. Because of such projects, Montenegro separated itself from the region in terms of the number of high-quality hotels, which operate under the names of the most famous chains. Not even much more developed destinations can boast of such a number of successful brands. Hilton, Marriot, One and Only, Aman, The Chedi, Radisson and many others have found their place in the tourist offer of Montenegro.
The tourism industry is one of the biggest generators of income that flow into the state budget. In the name of taxes, millions are collected annually from such projects. And that is one of the reasons why economic jubilance is important for our country, because by increasing the number of taxpayers, the system develops and additional funds are obtained, which are directed to those sectors that need them.
Recruiting local workforce and affirming local staff by giving them the opportunity to work in one of the respectable hotel chains is certainly one of the main arguments for accepting projects that are implemented through the economic citizenship program. In this way, young people are given the opportunity to continue their careers outside the borders of the country, as part of larger, international teams. On the other hand, people who work in large hotel corporations send their employees to all destinations where their hotels are located, including to Montenegro, which also creates multinational business environments in which our future hoteliers develop in a modern and professional manner.
Acquiring citizenship through investment represents one of the models of economic and economic development of the country. With all the benefits that such projects represent for the state, in addition to intellectual and creative development, certainly the financial benefit is the clearest benefit, and it cannot be denied that the effects of such an arrangement are visible at first glance and can be easily measured. In the long term, this is a program that provides the country with a stable source of income, development of the local community and a better quality of life.
ALK Montenegro
