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PODGORICA (Montenegro), March 14 (SeeNews) - Montenegro's government has hired citizenship and residency advisory firm Arton Capital as authorised partner for its new Citizenship by Investment Programme (CIP), the company said.
"The CIP will stimulate the construction of a number of luxury developments within Montenegro, particularly in the north of the country, a region with a higher-than-average unemployment rate," the president of Arton Capital, Armand Arton in a statement on Wednesday.
Montenegro’s CIP was launched at the beginning of 2019. It is limited to 2,000 applicants during a period of three years with an investment of 100,000 euro ($113,300) in the form of a government fund donation, of 250,000 euro investment in approved real estate in an undeveloped region in the north of the country, or 450,000 euro investment in approved real estate in the south of the country.
The Montenegrin passport is currently ranked 36th in the world by The Passport Index of Arton Capital, allowing citizens visa-free travel to 118 countries. Its value is expected to grow significantly following Montenegro's EU accession.
($ = 0.882507 euro)