MONTENEGRO ANNOUNCES KOLAŠIN HOTEL AS QUALIFIED PROJECT FOR MONTENEGRO’S CITIZENSHIP BY INVESTMENT PROGRAM
Would you like to be a citizen of a Southeast European country, close to Asia, with beautiful beaches on the Adriatic Sea, rugged mountains, a friendly climate, a growing economy, political stability, and cultural diversity? This country is Montenegro, and foreigners have the opportunity to become a citizen of Montenegro under its new citizenship by investment program. Throughout year 2019, Montenegro has made a number of important official announcements concerning its new citizenship by investment program in preparation for the program’s commencement (expected to begin by the end of year 2019, with the program fully operational by year 2020). On July 4, Montenegro made another such announcement, designating a hotel in Kolašin, Montenegro as a qualified project for Montenegro’s citizenship by investment program.
The hotel is the Kolašin Resort & Spa. The July 4 announcement follows a statement (released on June 20) from the 126th Session of the Government of Montenegro that “[t]he Government has established the List of Development Projects in the field of tourism and has included the construction of the condo hotel Kolašin Resort & Spa, Kolašin, submitted by Kolašin Resort & Spa AD from Podgorica. The first project submitted under the Governmental Decision on the criteria, method and procedure for the election of a person who can acquire Montenegrin citizenship by admission for the implementation of a special investment program of special importance for the economic and economic interest of Montenegro implies the construction of a four star hotel in Kolasin, a capacity of 93 accommodation units or 380 beds and an estimated investment value of 11,360,959 euros, and that the investment implies the opening of 66 jobs”. The original investors in the “Kolašin Resort & Spa” development were 3 persons from Malaysia, who each obtained citizenship in Montenegro based on their investment.
Kolašin is a town in northern Montenegro, with a population of approximately 3,000 residents. It is located at the foot of the Bjelasica and Sinjajevina mountains, making it a leading center of mountain tourism and skiing. Kolašin 1600, a brand new ski resort, was opened in February with 62 kilometers of ski trails. Biogradska Gora National Park is in the town’s vicinity and is considered a major tourist attraction. Kolašin is easily accessible by road and rail and is only 80 kilometers away from Podgorica Airport, which has regular flights to major European cities.
By investing 250,000 euros in the Kolašin Resort & Spa, and also donating 100,000 euros to a Montenegro government fund, a foreign investor can attain citizenship under Montenegro’s citizenship by investment program. As an alternative, a foreign investor can also invest 450,000 euros in approved real estate in a developed area in the south of Montenegro (the “Kolašin Resort & Spa” project is approved real estate in an undeveloped area in the north of the country, and thereby requires an investment of only 250,000 euros), and make a donation of 100,000 euros to a Montenegro government fund.
Montenegro’s citizenship by investment program is limited to 2000 persons and will close by December 31, 2021.
If you would like more information on Montenegro’s citizenship by investment program, please contact CitizenMatch, at info@citizenmatch99.com, or (773) 349-6693, for assistance.