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Montenegro: govt attracts investors by offering citizenship

Required to inject up to 450,000 in development projects

27 July, 21:27

(ANSA) - BELGRADE, 27 LUG - Montenegro wants to attract new investments by 'selling' citizenship to people willing to invest between 250,000 and 450,000 euros in development projects approved by the government. According to a government statement, the program for offering "economic citizenship" will be available to up to 2,000 most applicants from non-EU countries for a period of three years and it should be officially launched in October. Applicants can choose to to invest 250,000 euros in development projects previously approved by the government in an undeveloped area of Montenegro, or to invest 450,000 euros in projects in the developed area of Montenegro, the government said. Applicants will also have to pay a fee of up to 100,000 euros per application.

"This new program is part of the effort to attract foreign direct investment," the government noted, adding that it expects from it an "increase in economic activities and capital movement." (ANSA).

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