In an interview with newspaper Dnevne Novine, Armand Arton, now back at the helm of Arton Capital after erstwhile CEO John Hanafin’s unexpected departure last week, says the economic benefits of Montenegro’s heralded Special Investor Programme (MSIP) will be “measured by billions”.
Arton points to the country’s relative proximity to Africa, Russia and the Middle East as a chief competitive advantage over Caribbean programs.
“This country has a lot to offer to the investors, especially in the field of real-estate. Average flight duration from Russia, Middle East, Africa to Montenegro is 4 hours, while to the Caribbean it is 16 to 20 hours. It is clear that investors will rather come to Montenegro than fly to the Caribbean,” said the Canadian who – perhaps strategically – has scheduled his firm’s star-spangled flagship event to take place in Montenegro this October.
Arton is also encouraging Montenegrin authorities to keep investment requirements lower in less developed areas than on the country’s Adriatic coast, a region already favored by foreign investors.
“In addition to the coast, the north is equally important. Our advice is that the investments in the north be half of those in the coast, which will create more choice for clients,” said Arton, and added that the program would also encourage wealthy Montenegrins living abroad to increase their holdings in the country.
Asked for comment on recent unfavorable media coverage of his company, as well as the negative views harbored by some politicians about the MSIP, Arton told the paper that “we did all we could to play fair in this country, and all other countries where we worked. We do not engage in politics. Certain media tried to discredit our company. It is a dirty game and we have already taken steps to legally protect ourselves from the fake news.”
Image via: Arton Capital
Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 14 years in the United States, China, and Spain.