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INVESTMENT DESTINATION

the necessary precautions” to establish the investor program. “There is huge potential for Montenegro if it adopts a law on economic citizenship. The result should be a transparent model that will gain the credibility of the EU and other agencies, and allow [Montenegro] to start off on the right foot this time”, says Arton, who estimates that Montenegro could attract up to half a billion euros in the coming three years if the country can successfully position itself as a high-end tourism market on the doorstep of Europe. Montenegro’s passport already provides visa-free mobility to Schengen with access to a total of 101 visa-free countries. It ranks at number 41 of the most powerful passport’s in the world by Arton Capital’s Passport Index, the world’s most popular online interactive tool which collects, displays and ranks the passports of the world. With accession to the European Union anticipated this year, Montenegro might be the case study the rest of the EU needs in an increasingly complicated and tense region.

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Uskokovic is optimistic about the country’s future. “It has been a difficult economic time but we think being a small country, we are able to adapt to all new circumstances and economic challenges. “Since our independence in 2006, our GDP has had steady growth and has almost doubled in the last 10 years. “This year we will have a growth in GDP of 4.3 per cent. We hope this will continue and that we will manage all issues and challenges.” The economy will be further boasted with the launch of a citizenship investment programme (CIP) expected in the coming year. While previous attempts to get the Immigrant Investment Program up and running have stalled, Armand Arton, President of Arton Capital, a global immigration advisory firm which has helped several EU governments set up Immigrant Investor Programs believes that the situation in Montenegro “is very different” to how it was just six years ago. Arton says the Montenegrins were previously “ill-advised” and “failed to take

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JULY / AUGUST 2016

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