Thursday, September 19, 2024

Cabinet adopts conditions for development projects to acquire citizenship

During the 115th cabinet session, the Montenegro government adopted the information on activities on the implementation of the Decision on criteria, method and procedure for selection of persons who may acquire Montenegrin citizenship by admission for the purpose of implementation of special investment programme of particular importance for the business and economic interest of Montenegro.

 

Within the framework of the implementation of the Decision, a public call for expressing interest for qualification of projects on the List of Development Projects in the field of tourism was announced, actively working on defining the conditions for development projects in the fields of energy, information and communication technologies and industry, as well as conditions for development projects in the fields of agriculture and manufacturing.

 

It was emphasised during the session, that the Citizenship program should contribute to the development of less developed local self-government units and intensify development projects in the field of tourism, agriculture and manufacturing and will be available to up to 2,000 most relevant applicants over a period of three years.

 

The Government already announced public call for Expression of Interest (EOI) for  list of Development projects

 

Applications for the qualification of projects in the List of development projects in the field of tourism may be submitted by interested parties including applicants for acquisition of Montenegrin citizenship by means of acceptance for the realization of a special investment program of particular importance for the economic and economic interest of Montenegro which meet the criteria for the construction of a hotel mixed complex:

 

1. A Five-star in the coastal region or the capital city of Podgorica or at least four stars in the northern or central region, except the capital of Podgorica;

2. A minimum investment of €15,000,000.00 Euros is required in the coastal region or the capital of Podgorica or a minimum investment of €5,000,000.00 euros in the northern or central region, except the capital of Podgorica;

 

3. Employing at least 80 employees in the Primorje region or Podgorica capital or at least 25 employees in the northern or central region, except the capital of Podgorica;

 

4. Have at least 60 accommodation units in the coastal region or the capital of Podgorica or at least 35 accommodation units in the northern or central region, except for the capital of Podgorica.

 

 

The List of Development Projects in the Field of Tourism is determined by the Government at the proposal of the Ministry of Sustainable Development and Tourism.

 

Applications for development projects can be sent to the address of the Ministry of Sustainable Development and Tourism, starting from 26 February 2019 until 31 December 2021.

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment Journal. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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