Visa-free travel for Russians and $200,000 citizenship offer set to boost Albania in 2013

by Kate

Over the past decade, Albania has been one of the fastest-growing countries in Europe enjoying impressive average annual real growth rates of 6%. In 2008 the Balkan nation graduated from IDA,  the World Bank’s concessional lending arm and now joins the ranks of the world’s upper-middle income countries deemed creditworthy for the International Bank for Reconstruction and Development (IBRD).

 

Indeed Albania is currently cooperating with several neighbouring countries (Hungary, Serbia, Romania, Bulgaria, Bosnia and Herzegovina, Montenegro, Macedonia and Croatia) on various issues including tourism and announcing unilateral visa-free travel for Russians as well as a draft law granting citizenship to anyone who invests $200,000 in the country.
Peter Walshe, Marketing Director for 5* Lalzit Bay Resort and Spa, Albania, comments,
“Albania is focused on growing tourism and FDI throughout the Balkan region and beyond, across its varied landscape. Whether it´s hiking, white water rafting or relaxing on the Adriatic coast at stunning locations such as Lalzit Bay, we must ensure that we cater to the needs of Albania´s growing tourism industry and make it as easy as possible for people to visit and indeed invest.”
With this in mind and taking lessons from the past, the country’s Ambassador to Russia, Sokol Gioka, introduced a 90-day visa free stay for Russians four years ago and saw a great surge in the number of Russian tourists hence the decision to repeat and extend the offering for 2013’s summer months (June to October).
And going one step further, Russian and indeed investors from other nations with $200,000 can make their visit more permanent by being granted citizenship if the Albanian government passes this draft law.
With Albania boasting Europe´s last undeveloped coastline and a Mediterranean climate, that $200,000 threshold should ensure any prospective investor a prime beachfront location.
Lalzit Bay Resort and Spa offers such a premium, exclusive beachfront product to investors who want the benefits of villa ownership including private gardens and terraces, exclusive services and more privacy as well as a range of facilities including private swimming pools, a BBQ area, tennis courts and superb restaurants. Prices range from €30,000 for a studio apartment to €200,000 for a 3 bed villa.
For more information please contact Lalzit Bay on 0845 125 8600or visit www.lalzitbay.com .