The Montenegro Citizenship by investment program is doing well despite Covid-19 and remains unaffected and ten passports are ready to be delivered after all approvals to investors, PM Duskovic announced in a recent interview.
Asked if he was afraid that the project of economic citizenship could be endangered, Prime Minister Marković emphasized that everything is endangered, when it comes to the economy.
“The programme of economic citizenship, in spite of everything, is ongoing and there are several applications but also projects, such as hotels in Kolašin, which have started to be built under this programme.”, said PM Duskovic.
He also specified that about 10 passports are ready, after the complete procedure has been passed and the necessary approvals have been obtained.
The Citizen by Investment program opened for applications during the end of 2019, to develop northern areas of montenegro through inflow of funds from foreign investors. This is a limited investment opportunity for 2000 investors to acquire passports. So far six development projects mostly hotels have been approved. The Government has also authorized agents and due diligence service service providers.
The program last month began to yield results. This program is also open to significant investments in five star hotels, agriculture, manufacturing and other areas.
Since Sunday 24 May, there are no COVID-19 cases in Montenegro. Montenegro is fully open for visitors and investment post Covid-19. As of 1 June, foreign nationals can enter Montenegro without quarantine/self-isolation.
The OECD said in its report, Montenegro will have economic impact on short term
“It is expected that the COVID-19 outbreak may precipitate a recession in the economy, which heavily relies on tourism and remittances coming from EU countries such as Austria, Germany and Italy. For instance, the tourism sector’s direct contribution to the economy accounts for 11.7% of the GDP , when indirect contributions are added, such as yachts and cruise ship related spending, tourism receipts account for around 25% of the GDP3 . In addition to the high volume of the tourism sector in general, remittances, which account for 10.7% of the GDP, are likely to diminish as well due to travel restrictions.”
Montenegro is the leading candidate country towards its accession path to the EU. In a recent meeting Croatian minister of foreign and european affairs, offered full support for Montenegro on its European path. We want to see Montenegro in the EU as soon as possible. We are actively advocating for the policy of enlargement of the Union, as well as for the opening of the last negotiating chapter – Minister Grlić Radman pointed out.
Montenegro and the Republic of Croatia cherish comprehensive and friendly relations, as evidenced by frequent political contacts, intensive cooperation within the European agenda, but also the alliance in NATO.
Montenegro now celebrates third year of NATO membership. Citizens can feel benefits of Montenegro’s membership in NATO.
Prime Minister Duško Marković noted, congratulating the citizens on the third anniversary of our country’s membership in NATO, that the alliance of Montenegro with 29 countries ensured the safety of our country. In addition to security, our citizens already feel benefits of foreign investments and growth in tourism and the economy.
