Economic citizenship programs are becoming vital for the development of smaller countries, with Montenegro and Malta as prominent examples. Vedrana Šašović, Executive Director of Amma Resort, emphasized that the European Commission’s recognition of such programs is crucial for Montenegro’s long-term growth. These initiatives attract foreign investments, enhance tourism, improve infrastructure, and create jobs.
Anthony Michael Collins, a lawyer for the EU’s General Court, supported Malta’s program by stating that EU law does not require a “real connection” between candidates and member states for citizenship acquisition. This allows Malta to continue its program despite EU pressures.
Šašović highlighted that Montenegro’s program maintains high transparency and rigorous checks, ensuring credible applicants contribute to development. The Amma Resort project is already attracting investors from over 15 countries, enhancing tourism quality.
David Margason, General Director of Porto Montenegro, noted that economic citizenship programs have improved investment attractiveness in less desirable areas and brought skilled individuals to Montenegro. He argues these programs can effectively attract foreign direct investments.
While the European Commission has expressed concerns about security risks associated with such programs, it has not prohibited them. Malta has reformed its program to address these concerns by increasing investment requirements and enforcing stricter controls.
Overall, economic citizenship programs are positioned as beneficial tools for economic development, with potential long-term advantages for countries like Montenegro and Malta.
