Statement of the Finance minister, Igor Lukšić on adopting Amendments to the Provision on determining state administration bodies, authorized for offering clarifications and comments on real estate property rights acquisition by foreign

Changes regarding determination of state administration bodies, in charge of offering clarifications and comments on acquisition of real estate property rights by foreigners performing business activities in Montenegro, enable the treatment of foreign investors as they were local ones. Foreign investors, with companies performing business activities in Montenegro are taxation residents, since they do business here and therefore acquire profit and pay taxes. It would be absurd to treat the Bank of Podgorica, Montenegro or Montenegrin Commercial Bank, Aluminum factory, Trebjesa brewery, Telekom or Jugopetrol as foreign companies. According to the adopted amendments, problems regarding treatment of such companies are resolved, since, under the circumstances, an absurd situation has been created, where Montenegrin taxation residents may be treated as foreigners. Foreign investors, in accordance to the existing ownership laws, may achieve a national treatment through their investments and enterprises.