Croatia could make EUR 300 million yearly, if citizenship by investment program runs in the country according to Novcanik publication of Croatia.
The government of Zoran Milanovic has discussed CIP in 2015 that major investors have been allowed to acquire citizenship, but has quickly given up on such an idea.
Croatia is a EU member country since 1 July 2013, not a part of schengen area, committed to adopt euro currency one it fulfills necessary conditions.
In 2019, Croatian passport had visa free travel to 168 countries ranked 20th best passport in the world, according to Henley
According to the publication, Henley & Partners Agency, proposed a similar program for Croatia that provided a non-refundable donation of 300,000 euros and the purchase of a new property worth at least 350,000 euros.
Globus’s interlocutor argues that looking business opportunities croatian blue passport is most likely to businessmen from Asia and Russia, and also large number of Britons who will want EU citizenship to appear in Brexit .
In business circles there are plenty of people who think that it is time for Croatia to soften such a rigid attitude, because by selling a certain number of passports, it would not have lost anything and could get a lot of benefits.
The number of people who can be granted citizenship can be limited by each country or set quotas. Globus’s source believes that a quota of the first thousand passports offered for sale will be completed within a year to a year and a half. This would mean that 300 million euros would be directly into the state budget. Additional 80 million euros per thousand immigrants would be taxed by real estate sales taxes. Depending on the other countries, a special national fund could be established in which the money would be paid and spent on purpose.
For all issues related to the acquisition of citizenship, the Ministry of the Interior is responsible, pointing to the European Commission’s report of 23 January, stating that most Member States have in their legislation the discretionary procedures for naturalization. In such proceedings, the State may grant nationality to an alien based on a national interest, which mainly relates to outstanding achievements such as in the field of culture, science or sport, but may be equated to an economic or economic interest.
The Law on Croatian Citizenship, unlike Bulgaria, Cyprus and Malta, does not know the model of systematic granting of citizenship provided that the necessary investments are made.There is a legal possibility for a foreign entrepreneur or an investor to acquire Croatian citizenship in a privileged manner if the competent ministry – for example, economy, entrepreneurship and crafts, tourism – feels that there is an interest of the state.
The Ministry of Interior notes that the process of amendment of the Croatian Citizenship Act is in progress, but it does not foresee an amendment to Article 12 in order to facilitate the acquisition of citizenship for foreigners investing in Croatia.
