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Montenegro

DEVELOPMENT OF AGRICULTURE 19. 07. 2019.   >>  19:06 0

DEVELOPMENT OF AGRICULTURE

Montenegrin citizenship for investments worth two millions

A foreigner who invests two million euros in primary agricultural production, 3.5 million in the processing of agricultural and fish products or four million in wood processing, can apply for Montenegrin citizenship.

The Government adopted the Information on the conditions that should be fulfilled by development projects in the field of agriculture and wood processing in the procedure of selection of persons who may acquire Montenegrin citizenship by admission for the purpose of implementation of special investment programme of particular importance for the business and economic interest of Montenegro. The discussion stated that, in order to diversify the economy and balanced regional development, the scope of the sectors covered by this Programme is expanding in the fields of agriculture and wood processing.

"It is stipulated that the development project can be realized only if the investment in primary agricultural production amounts to at least €2.000.000, in the processing of agricultural and fish products at least €3.500.000 and in wood processing at least € 4.000.000 andthat the development project will employ at least ten people in the primary production of agricultural and fish products, at least 20 in the processing of agricultural and fish products, or at least 20 in the wood processing sector,"the government states.
In addition, based on the provisions of the adopted Rulebook, the Ministry of Agriculture and Rural Development, when drafting the List of Development Projects, will appreciate whether the developmentproject is to be implemented in the municipalities, whose development level is below 100% of the average value of the development index determined in accordance withthe law regulating regional development.

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