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Development programme for acquisition of Montenegrin citizenship by admission for investment purposes launched

Published on: Jan 3, 2019 • 4:18 PM Author: PR Service
Podgorica, Montenegro (3 January 2019) -- It has been launched a development programme that provides the possibility for persons to acquire Montenegrin citizenship on the basis of investments in the following three years, based on a maximum of 2,000 applications.


The Secretariat for Development Projects has announced today the Public Calls for the following:



The applications to a call may be submitted not later than February 1, 2019.

A person submitting the application (hereinafter: the applicant) shall submit an application for acquiring Montenegrin citizenship by admission on the basis of a special programme, through an intermediary agent, while the assessment of his international due diligence shall be carried out by an international due diligence assessment agent, including evidence of the origin of the money.

The Secretariat for Development Projects shall decide on the selection of agents within 30 days from the date of the public opening of the applications and it shall be published on the Secretariat's website.

After the decision is made, the Government of Montenegro shall conclude a contract with the selected agents, on the basis of which the Secretariat for Development Projects shall issue the licences to them, and only on the basis of those licences issued, the agents may carry out their activities within the mentioned programme.

If it is subsequently established that a person who has acquired Montenegrin citizenship by admission pursuant to the decision has given false information or deliberately concealed facts and circumstances, as well as in case an international due diligence agent has given inaccurate information in its report referring to that person, a decision on citizenship cancellation will be adopted.

All procedures will be transparent and, as far as this stage of the process is concerned, the opening of applications will be public - the authorised persons or the authorised representatives of the legal etities shall have the right to attend the opening.

CONTEXT:

The Decision on criteria, method and procedure for selection of persons who may acquire Montenegrin citizenship by admission for the implementation of a special investment programme of particular importance for the business and economic interest of Montenegro began to be applicable on January 1, 2019.

The decision of the Government was adopted with the aim of developing Montenegro, i.e. with the aim of attracting foreign investments that will intensify development projects in the sector of tourism, agriculture and processing industry in the entire area of Montenegro, both in the north and in the south, as well as faster development of under-developed municipalities of Montenegro.

The model of the special programme is GRANT + INVESTMENT.

A grant shall refer to the amount intended for development of under-developed local self-government units. The amount of the grant shall be EUR 100,000 per application of an applicant, which is a total of EUR 200 million for 2,000 applications, that being an amount that will be intended for development of under-developed local self-government units.

On the other hand, the investment shall refer to the amount intended for investment in one of the development projects from the Development Projects List that shall be defined by the 
Government at the proposal of the line ministries, while the amount that a legal entity shall be obliged to pay is as follows:

- at least EUR 450,000, for the purpose of investing in one of the development projects in the Capital City of Podgorica or the coastal zone of Montenegro; or

- at least EUR 250,000, for the purpose of investing in one of the development projects in the northern or central region of Montenegro, not including the Capital City of Podgorica.

Contact:

SECRETARIAT FOR DEVELOPMENT PROJECTS

Phone: +382 20 220 030

E-mail: srp@srp.gov.me

Address: Bulevar revolucije 7, 81000 Podgorica

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