Montenegro president Milo Dukanovic, explained basics of the Individual Investment Program during the Henley and Partners 12th Global citizenship conference.
- Montenegro will accept citizenship by investment applications only from those who have credibility in both personal and professional terms
- Inflow of funds must have unquestionable legal origin
- Application process will be transparent and efficient
- CIP will be significant source of revenue and a platform for new investments
- Goodwill ambassadors will be established to promote the scheme
Our goal is to stimulate this mechanism further and generate the interest of new investors who can apply for Montenegrin citizenship by investing in Montenegro.
The vital national interest of Montenegro is to implement the Program in the way that, using the experiences of other countries, eliminates all the risks that its application can bring. The program will allow applications only to those individuals who have proven credibility in both personal and professional terms, and let the inflow of funds that have unquestionably legal origin. The credibility of investors and procedures affects the credibility of the Program and in the end Montenegro as a country.
Applicants will benefit from a favorable tax system, a visa-free regime towards countries in the Schengen zone and integration into the economic and political system of the country. Application of the Program will enable a more efficient and transparent procedure for granting citizenship to investors under Article 12 of the Citizenship Act. With the granting of citizenship, stronger connections between quality investors and Montenegro will be established, as they will, as “good ambassadors,” further promote its economic potentials and interests.
I expect the Program to have strong multiplier effects on the overall economy, to become a significant source of revenue and a platform for new investments. With a well-designed campaign, it’s possible to attract the attention of prominent business people who would accept to relocate the seat of their businesses. This would not only increase the amount of investment but also improve the image of our country and raise the standards of business.
Read the full speech here