From October 1, Montenegrin citizenship can be acquired by investing money in development projects, it was decided at the session of the Government of Montenegro.
"At the 87th session, which was presided over by Prime Minister Duško Marković, the Government of Montenegro considered and adopted the Information on the program for acquiring Montenegrin citizenship by admission on the basis of a special investment program and ordered the competent institutions to make all the necessary assumptions so that the program could begin to be implemented 1 . in October 2018. The economic citizenship program will be available to a maximum of 2.000 of the most qualified applicants from countries that do not belong to the European Union during a limited period of three years," the Government announcement states.
The government states that interested individuals will have the option to invest 250.000 euros in one of the development projects previously approved by the government in an underdeveloped area of Montenegro or 450.000 euros in one of the development projects previously approved by the government in the developed area of Montenegro.
"In addition, the government will charge a fee of up to 100.000 euros per submitted request. The fee will be directed to a special fund for the development of underdeveloped areas. The program will be managed by a special government agency that will hire pre-approved marketing agents. Marketing agents will be in charge of successful promotion of this program and attracting interested investors.The Government will also engage renowned Due Diligence agents specialized in vetting interested applicants as well as one of the renowned audit firms / legal advisors to perform all other necessary vetting of interested applicants.
This new program is part of the Government's ongoing efforts to attract direct foreign investment. The government expects that this program will lead to an increase in economic activities and capital movements. The Government passed the Decision on amending and supplementing the Decision on the criteria for determining the scientific, economic, economic, cultural and sports interests of Montenegro for the acquisition of Montenegrin citizenship by admission. The amended Decision stipulates that the criteria, method and procedure for selecting applicants will be proposed by the state administration body responsible for economic affairs and the state administration body responsible for sustainable development and tourism within 120 days from the date of entry into force of this decision," it is added. in the announcement.
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