The largest foreign investors in Montenegro for the period January-May this year are Russian citizens who invested 52,5 million euros. They invested 28,9 million euros in the purchase of real estate, 12,3 million euros in companies and banks in Montenegro, and 13,2 million euros in intercompany debt - loans to their companies in Montenegro.
This is shown by new Central Bank data on foreign direct investments.
This confirms that regardless of the damaged diplomatic relations between Montenegro and Russia, due to the Ukrainian crisis and the introduction of sanctions against Russia, Russian citizens continue to come to Montenegro in large numbers and bring their capital to invest. That this is so, is also shown by the fact that Montenegro issued 21,5 thousand work permits to foreigners for the period January-June this year, of which 7.412 or 34,3 percent of the total number refer to citizens of Russia.
Investors from Russia have a very small outflow of investments from Montenegro, unlike others. Of the 52,5 million euros invested, Russian citizens withdrew 11 million euros from Montenegro in these five months, mostly through the sale of real estate for six million.
The second most valuable investors are citizens and companies from Serbia who invested 48 million euros, of which the most 26,1 million euros were in the purchase of real estate, 10,5 million euros in loans to their companies in Montenegro and 8,2 million in investments in companies. and banks registered in Montenegro. In the same period, investors from this neighboring country withdrew 25,3 million euros from Montenegro, the most through the sale of real estate, 12,4 million euros.
Investors from Switzerland are in third place, having invested 39 million euros in Montenegro over the past five months. They invested the most through loans to their companies in the amount of 27,2 million euros, direct investments in companies and banks were worth 6,6 million, and in the purchase of real estate 5,1 million euros. In the same period, investors from this country withdrew 17,7 million euros from Montenegro, of which a maximum of 10,5 million through sales - reduction of shares in companies and banks registered in Montenegro.
In fourth place in terms of value of direct foreign investments are citizens and companies from Turkey with an investment of 32,1 million euros. They spent the most on buying real estate, 21,6 million euros, and then on loans to their companies in Montenegro, nine million euros, while they invested 815 thousand euros in companies and banks. Investors from this country had the largest outflow of investments from Montenegro in the amount of 31,8 million euros, so their influence in the net inflow of foreign investments is only 300 thousand.
Turkish citizens and companies took the most money out of Montenegro through the sale of shares in companies of 18 million euros, as well as the repayment of loans of 12 million euros.
Only in fifth place in terms of the amount of foreign investments is a country that is a member of the European Union, namely Germany with 28,3 million euros. Citizens and companies from this country invested the most money in the purchase of real estate, 18,5 million euros, 5,6 million euros in domestic companies and banks, and 9,7 million euros in loans to their companies operating in Montenegro. Investors from this country had an outflow of investments worth 7,6 million euros, of which XNUMX million refers to the withdrawal of money from domestic companies and banks.
After these big five in terms of investments in Montenegro, Cyprus follows with 24 million euros, the United Arab Emirates with 19,8 million, the United States of America with 18,9 million and Austria with 13,5 million euros.
In tenth place are investments from Ukraine of 9,4 million, of which 8,6 million were invested in the purchase of real estate.
For these six months, investments were recorded from 45 ranked countries or territories, and the least amount of money came from Jordan 308 thousand euros, Slovakia 315 thousand, Monaco 362 thousand euros, Moldova 365 thousand, Malaysia 400 thousand, Bulgaria 408 thousand,...
Fall of foreign investments by 16 percent
Total foreign investments for these five months amounted to 361 million euros, while in the same period last year they were worth 428 million euros. That's a drop of about 16 percent.
When outflows are taken into account, net foreign investments were worth EUR 193 million and were EUR 101 million less.
The decrease in investments was influenced by the end of the economic citizenship program at the end of last year, through which foreigners could acquire the right to Montenegrin citizenship with certain investments, including the purchase of real estate.
In the whole of last year, net foreign investments amounted to 782 million euros, and this was the second highest amount since independence in 2006. The largest net foreign investment was 2009 billion euros in 1,06, mostly due to the then sale of Elektroprivreda for 434 million euros.
Since 2019, Russians have bought real estate for 208 million
In the past five years from 2019, Russian citizens were the largest investors in Montenegro in three years, and in the other two years they were in second place. Last year they were overtaken by investors from Serbia, and in 2019 from Azerbaijan.
In this period, the Russians invested 534 million euros in Montenegro, of which the most was 208 million euros in the purchase of real estate.
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