Podgorica, (MINA-BUSINESS) – Michael Bader, President of the Foundation for the Future of Montenegrin Tourism, said Montenegro’s strategic goal must be the creation of a sustainable and market-oriented business environment, warning that the current situation could undermine the country’s reputation as an attractive investment destination.

He said that the implementation of amendments to the Law on Foreigners, which prescribe a minimum annual amount of €5,000 in paid taxes as a condition for extending the residence permits of entrepreneurs, has caused confusion and concern among foreign investors who see Montenegro as their business base.

“Although the intention to curb non-genuine business activity is legitimate, the way the new requirements are being interpreted in practice raises a number of questions to which we still do not have clear answers,” said Bader, who is also Chairman of the Tourism Committee of the German-Montenegrin Business Club.

As a forerunner in the European Union (EU) accession process, Montenegro must not allow administrative ambiguity to become a barrier for foreigners who register companies, employ workers, and tie their personal and professional advancement to the Montenegrin economy. 

“The current situation, unfortunately, sends a message that could damage the country’s reputation as an attractive investment destination,” Bader said.