Published at: 13/08/2020 10:00 am
There are now seven qualifying real estate investment projects for the Montenegro Citizenship by Investment Program. Five from the seven projects are in the northern region of the country, where investors may invest more affordably in exchange for Montenegrin citizenship.
The Covid-19 virus did not intervene in the development of investment sites. Moreover, it looks that attracting the affluent foreigners through the citizenship by investment program is one of the most important objectives of the Montenegrin government:
"Despite the epidemic-induced challenges, all construction sites in northern Montenegro, which have been preserved during the winter period, continue to operate. …. At the construction sites of all three ski resorts in the area of Bjelasica and Komovi - Kolašin 1600 in Kolašin, Žarski in Mojkovac and Cmiljača in Bijelo Polje. I would like to point out that the value of the investment in these three locations, according to the Investment Studies, amounts to EUR 70 million," said Prime Minister Duško Marković.
The real estate investment projects of the Montenegro Citizenship by Investment Program
Five of the seven investment projects are located in the beautiful ski resorts of Kolašin and Žabljak, in the northern region of Montenegro (Crna Gora). The sixth project is in the charming historical city of Budva on the Adriatic coast, while the seventh is in Boka Bay.
According to the Prime Minister's answers, they did not suspend works in North Montenegro. They tried to keep investors interested in further investment. Moreover, the government also announced that" the programme of acquiring Montenegrin citizenship began to yield results. The total value (of the tourism projects related to the CIB) will amount to over EUR 74 million and putting these five hotels into operation will create preconditions for the creation of over 400 new jobs. Accommodation capacities will be more significant for 525 high-class rooms – in 4 and 5 stars. Now more than ever before, we are aware that the implementation of such projects increases the value of the entire space of our country, primarily for ourselves, to whom this country is the only home", said Duško Marković.
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