ECONOMIC CITIZENSHIP SOLUTION SERBIA - GENERAL FACTS

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General facts Serbia

Serbia's economy is forecasting growth of just over 3 percent in 2018. The engine of this development is domestic demand in the form of private households willing to buy and robust investments. The latter are supported by continuous foreign direct investment. The increasing exports also give impulses.

Overall, economic confidence has increased since 2017 in the form of increased investment from domestic and foreign sources. The business climate has improved noticeably and the environment should continue to develop positively in 2018. In addition to sound economic growth, Serbia can point to a stable state of public finances. For the first time in ten years, the government achieved a budget surplus last year. Inflation is also tamed.

Serbia's foreign trade should continue to gain noticeably. According to the European Commission, both imports and exports will increase by 9 to 10 percent in 2018. Rising investment, higher consumption and a fixed dinar are boosting imports. As in 2017, stronger foreign direct investment from abroad is expected to increase demand for machinery and equipment as well as intermediate products in 2018 as well. The largest import items in the first quarter of 2018 were electrical engineering, automotive parts, oil and products, and medical and pharmaceutical products.

Exports benefited in 2017 and early 2018 from the good economic situation in the main consumer countries - especially in the EU. In particular, Serbian manufacturing supplied more goods abroad in the first quarter of 2018. The longer-lasting trend of higher growth in imports than in exports is likely to continue in 2018, with the result that the trade deficit will continue to widen.

Serbian Citizenship Program

We are the inventors of the Serbian Very Important Investor Program (VIIP), to search for companies, managers and business people who want to invest in Serbia and support the emerging Serbian economy. We have planned, developed and proposed this program to the Serbian government. This program is currently under development, but there is the possibility for investors to apply. We submit applications from our investors to the Ministry of Economic and Interior Affairs. The decision on accepting a foreigner to Serbian citizenship is in jurisdiction of the Government in case of national interest. That is why we can only submit a limited number of applications. The recognition of the citizenship of the applying foreign investors will be based on Article 19 of the Serbian Citizenship Law. Article 19 of the Serbian Citizenship Law states: "a foreigner, whose admission to citizenship of the Republic of Serbia would be of interest for the Republic of Serbia, can be admitted to citizenship of the Republic of Serbia. The Government of the Republic of Serbia, on a motion of the competent Ministry, decides about admission to citizenship of the Republic of Serbia in line with para. 1 of this Article." Those who are interested in Serbian citizenship must accept that the process can last longer than 90 days in the start-up phase.