A contract for the provision of public services for working out, implementing and internationally promoting the program on citizenship by investment was signed by Minister of Economy and Infrastructure Kiril Gaburici and the leader of the consortium MIC Holding LLC and Henley&Partners Government Services Ltd, which won the contest, on July 11. The minister noted the investments during the next five years are expected to rise to €1.3 billion, IPN reports.

According to the Ministry of Economy and Infrastructure, the goal of the program is to consolidate the perception and competitiveness of Moldova at foreign level so as to attract direct foreign investment to the strategic development areas set by the Government. The winner presented the best plan for implementing the program.

“The citizenship by investment is a form applied in many states, such as Latvia, Malta, Cyprus, Canada, and Australia. The Government of the Republic of Moldova worked out this instrument based on good international practices in the hope of identifying a good and reliable partner with international experience,” stated Kiril Gaburici, who headed the winner selection commission.

The consortium will cover the initial and continuous costs associated with the technical designing, implementation, training and promotion of the program with commissions paid by the applicants for citizenship by investment. This will focus on the growth of foreign direct investment, elaboration of a country brand and development of the real estate sector and will generate new economic opportunities and extension of the foreign sources of income for Moldova.

Citizenship by investment will be granted only to the applicants that fully meet the best international diligence standards. A rigorous four-level system was prepared for verifying the economic and financial reputation of persons who want to obtain Moldovan citizenship by investment.