The government indicated the program’s economic benefits so far did not justify jeopardizing EU accession talks.
Following a cabinet meeting this week, the government of Montenegro issued a statement on the way forward for the country’s young citizenship by investment program. In it, cabinet proposed not to extend the CIP beyond its original three-year term, which is set to expire on new year’s eve.Program could “complicate and slow down” EU talks
The primary rationale was a concern that the continued operation of the program would imperil the country’s chances to join the European Union.
Having in mind the conclusions in the cases [of proceedings against Malta and Cyprus, as well as the European Commissions position on the Portuguese golden visa], the implications of the implementation of the Special Investment Program on the negotiation process of Montenegro with the European Union […] as well as other analysis covered by this document, prepared by Ministry of Economic Development, the following conclusion is proposed:
The Government of Montenegro will not extend the duration of the Special Investment Program from the special one importance for the economic and economic interest of Montenegro, after the expiration of the three-year period duration of the program as of December 31, 2021, provided by the Decision.
Read the full article in Investment Migration Insider