On economic citizenship program the budget of Montenegro in the form of taxes received 29 million euros, according to the data of the investment agency, provided Then.
In addition, 22 million euros have so far been received into the account of less developed municipalities, and this money has not yet been spent, and almost twice the amount is in the ESCROW account - a special account for secure settlements between the buyer and the seller.
According to Mladen Grgic, Director of the Agency for Investments of Montenegro, if we take into account financial performance and the fact that investment projects have so far brought in a little over 46 million euros, we can be satisfied.
“However, it seems that with better administrative preparation and more consistency in the application of the decision, we could achieve better results. In preparing the analysis in the middle of last year, the Agency considered that the program should be extended for a period during which it was stagnant due to covid and a delay in issuing licenses.
“Due to the problems mentioned and the poor progress towards the program, there was little interest, which could lead to the suspension of investment projects in the north,” Grgic said.
A total of 753 applications for citizenship by investment and 2434 with family members were received.
“To date, 447 applications have been approved. Most of the applications are from citizens of Russia - 1211, China - 257, Lebanon - 81, Ukraine - 54, USA - 151, South Africa - 114, 57 from Saudi Arabia, 56 from India, while among the applicants there are also citizens of Australia, the United Arab Emirates, Japan, Kazakhstan, Mexico, Philippines, Canada, Poland, Turkey…” Grgich said.
