EU acquis is the term used to refer to the accumulated legislation, legal acts, and court decisions which constitute the body of EU Community law.
The ECP allows foreign nationals to acquire the citizenship of Montenegro in return for lump sum payments to the Montenegrin government and investment projects in Montenegro.
The CBM has already compiled data on trade in services by partner country for 93 percent of items in services (the EU’s minimum requirement is 85 percent).
The share of foreign direct investor is not available in the information from the tax authority.
The CBM’s report form is designed to collect data on operational profits and losses, and capital gains and losses separately.
There are no restrictions for non-residents’ investment in residential properties. The land registry keeps information on property owners without values of the properties. Montenegrin government has a plan to update it to include values of the properties. Once the update is completed, the information may be used to compile direct investment data.
Montenegro currently participates in the enhanced General Data Dissemination Standard.
The CBM and the MOF submit the core table to the World Bank’s Quarterly External Debt Statistics Database along with an encouraged table on payments schedules for the public and publicly-guaranteed private sector external debt.
The CBM and MONSTAT received two TA missions on services under EU’s Instrument for Pre-Accession Assistance Program until October 2019.
Due to budget constraints, the National Tourism Agency conducts a survey on tourists only in the coast area during summer. The survey results are not sufficient for the balance of payments compilation.
Hotels are required to report the number of guests and their stays and pay an accommodation tax to local tourism organizations. The MONSTAT aggregates the data from local tourism organizations and provide them to the CBM. Other statistics on tourism are also based on the same data source to provide consistent information.
The survey results in 2005 indicated that 30 percent of private accommodations were not registered.