A new hotel and residential-business project called "Boka Place" in Porto Montenegro can enable foreigners who invest in it, that is, who are co-investors in the construction of a condo hotel, to obtain Montenegrin citizenship, a source close to the "Adriatic Marinas" company explained to "Vijesta" unofficially. which manages this tourist-nautical complex in Tivat.
On Thursday, the government accepted the request of the company "Adriatic Marinas" from Tivat to include this continuation of the construction of Porto Montenegro in the list of priority projects in the field of tourism, which was announced after the session.
In its explanation, the Government referred to the Decision on the criteria, method and procedure for selecting persons who can acquire Montenegrin citizenship by admission for the purpose of implementing an investment program of special importance for the economic and economic interest of Montenegro. Entry into the "List of Priority Projects" brings investors numerous administrative and fiscal benefits for the realization of those projects, and one of them is the possibility for those who invest their money in those projects to receive Montenegrin citizenship, which is known among foreign investors as CTBI ( citizenship by investment). The project was submitted by the company Adriatic Marinas, i.e. its daughter company "PM 4.1".
What are the Arabs building?
The government accepted the argument of "Adriatic Marinas" that their owner, the state investment corporation of Dubai - ICD, agreed to finance the construction of this hotel, the value of which is estimated at 43,67 million euros. The five-star hotel will operate according to the so-called mixed form of business (condo), and will have 240 accommodation units and, as they say, 96 new jobs will be opened in it.
"The submitted business plan stipulates that the investor, in accordance with the law, will offer for sale a maximum of 144 accommodation units within the investment program of special importance for the economic and economic interest of Montenegro. At the same time, it was stated in the application that 15.11.2019. signed a management contract with the company 'Kerzner International', a leading international company engaged in the construction and management of resorts, destinations, ultra-luxury hotels and innovative experiences in the field of entertainment and games of chance. The mentioned company is, among other things, the author of Brenda One&Only and Atlantis Resort in Dubai", it was stated in the decision of the Government. The list of priority projects in tourism, through which Montenegrin citizenship can be obtained, now includes four projects from Kolašin - the construction of condo hotels "Kolašin Resort&Spa", "Breza", "Bjelasica 1450" and "K16", as well as one in Žabljak - condo hotel "Durmitor Hotel & Vilas" and in Budva - condo hotel "Kraljičina plaža" in Miločer.
A development project in the field of tourism means the construction of a five-star hotel in the coastal region or Podgorica or at least four stars in the northern or other part of the central region. The necessary minimum investment is 15 million euros in the coastal region and the capital and at least five million in the northern or central region. The project must also employ at least 80 employees in the coastal region and the capital or at least 25 employees in the northern or central region. The hotel must have at least 60 accommodation units in the coastal region and the capital, or at least 35 in the northern or other part of the central region.
The hotel will be completed in 2023, return on investment in 8 years
"Adriatic Marinas" expects to start the construction of the new hotel by the end of this year, and finish it in the second quarter (April, May, June) of 2023. The business plan envisages the return of that investment within eight years from the day of the hotel's opening.
Hotel "Boka Place" is the central part of the entire new complex of residential and business buildings that "Adriatic Marinas" will build along the Adriatic highway, in the northern and northeastern part of the Porto Montenegro complex, and which, among other things, will contain apartments for sale on the market, shops , cafes, a cineplex cinema and a small shopping center, as well as a couple of swimming pools and a number of public facilities for sports and recreation
Bonus video:
