The Government of Montenegro has accepted a proposal to include a 4-star hotel and seven villas in Zabljak in the list of projects of the Citizenship by Investment Program. Currently on this list 14 projects on the basis of which you can obtain economic citizenship of Montenegro.
Durmitor Development from Niksic has submitted an application for a public tender to the Ministry of Sustainable Development and Tourism. The application was accompanied by accompanying documentation - a business plan, certificates of available funds for financing the project, constituent acts and so on.
“The documents say, among other things, that it is planned to build a hotel in Zabljak according to the classic four-star business model, including 35 residential units (24 in a hotel and 11 in villas) for 88 beds (46 in a hotel and 42 in villas).
The project cost is EUR 20,47 million. In addition, the investor intends to open 43 new jobs on the territory of the complex, ”the government explained.
To confirm the availability of funds for the project, the applicant submitted an irrevocable bank guarantee in the amount of 2,5 million euros.
Let us remind you that the implementation of the project for the granting of Montenegrin citizenship in exchange for investment began on October 1, 2019. The validity period is three years. Interested candidates must invest from 250 thousand euros to one of the projects in the north of the country or from 450 thousand euros - on the coast or in the capital of the country - Podgorica.
Applying for citizenship can be done remotely, applicants need to come to the country once. At the same time, investors and members of their families will not need to give up their initial citizenship in favor of Montenegrin, it will be possible to maintain both.
Read more about how to obtain Montenegrin citizenship, what payments are required, as well as the procedure for obtaining citizenship, read our article.
