Montenegro Announces Rules for Investment in Agriculture, Fisheries, Wood Processing
Montenegro is one of the latest Citizenship by Investment (CIP) programmes in Europe. As for property investment, it has just approved one development project - a ski resort. That said, Montenegro has now come up with formal requirements that apply to CIP applicants investing in agriculture, fisheries and wood processing.
Montenegrin officials have voiced the following requirements:
- The investment should be made in the primary production or processing of agricultural products (EUR 2,000,000 min.), fishery products (EUR 3,500,000 min.) or wood processing (EUR 4,000,000 min.)
- The project should employ at least ten people in primary production of agricultural/fishery products, at least twenty in the processing of agricultural/fishery products, or at least twenty in wood processing
- The project must stick to the subsidies authorised by the Montenegrin government policy and EU pre-accession funds, and cannot be subsidised by international funds.
Developers are required to submit a business plan featuring investment size and ROI, and a proof of ownership (title deed or lease contract of 10 years min.)
The Montenegrin government reserves the right to select projects based on many factors. Among them are the ability to lessen import dependency, potential for innovation, potential for land development and more.
The official document remains silent on whether applicants may co-invest in these projects. We’ll keep an eye on the updates from the government of Montenegro.
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