Project for Montenegrin investment-for-citizenship candidates approved

The Montenegrin cabinet has approved a 4-star condominium project development in Kolasin that's been proposed under the auspices of the country's citizenship through investment program. The developer, Kolasin Resort & Spa (also the name of the project company) is expected to make a €11.3m investment in order to complete the hotel, which will offer 93 units and a total of 380 beds and create 66 jobs. The founder of the company is Malaysian based Oriental Management INC. By investing at least €250,000 in the project, foreigners can qualify for Montenegrin citizenship.