Montenegro foreign investments between January and May 2023: Russian investors are leading. Explore top foreign contributors from Serbia, Switzerland, Turkey, and Germany.
Russian citizens have become the leading foreign investors in Montenegro during January to May of the current year, with investments totalling 52.5 million euros. Despite strained diplomatic relations due to the Ukrainian crisis and sanctions, Russians are actively investing in Montenegro, with significant amounts directed towards real estate purchases (28.9 million euros), investments in local companies and banks (12.3 million euros), and loans to their Montenegrin companies (13.2 million euros).
Notably, despite the ongoing tensions, Montenegro issued a substantial number of work permits to foreigners, including 34.3 percent (7,410) to Russian citizens. Interestingly, Russian investors have had a limited withdrawal of funds from Montenegro, with 11 million euros taken out, mainly through property sales.
Serbia ranks as the second most valuable investor with 48 million euros, followed by Switzerland, Turkey, and Germany, each contributing to Montenegro’s foreign investments landscape.
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