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The government eases conditions for investors in 4- and 5-star hotels

2024-02-07 19:12:00, Ekonomi CNA

The government has eased the conditions for investors who receive special status for their investments in 4 or 5 star accommodation structures.

A recent decision approved this Wednesday determines that investors with special status who must have an investment value of 8 million euros and 15 million euros according to the category in which they invest do not have the obligation to submit documents on the management of the same structures in the past. .

According to the old decision, the government had imposed conditions such as:

-If applying for the special status for 4 stars, to have invested in the construction and/or manage at least 5 (five) accommodation structures in the field of tourism, which are licensed with 4 and/or 5 stars by the competent authorities for this licensing of the countries where the accommodation structures are located and if applying for the special status for 5 stars to have built and/or manage at least 5 (five) accommodation structures in the field of tourism, which are licensed with 5 stars by the competent authorities for this licensing of places where accommodation structures are located;

II) These accommodation structures are directly owned by the applicant and/or the managing operator or are administered by them through management, lease, franchising or similar contracts; and

III) Accommodation structures are located in at least 3 countries of the European Union; OR

IV) In cases where the accommodation structures are not located in at least 3 countries of the European Union, then the applicant must have invested in the construction and/or manage at least 8 (eight) accommodation structures in the field of tourism, which are licensed with 4 or 5 stars (as the case may be) from the competent authorities for this licensing of the places where the accommodation structures are located, which are located in international tourism destinations.

In the new decision, these conditions are no longer present, but have been summarized in point (a), reformulating that the structure to be built by the investor must be "managed by a managing operator, registered as a trademark or an internationally recognized "brand name" with 4 and/or 5 stars, from the competent authorities of the countries where they are located, linked to the applicant with a valid agreement during the duration of the status"

The guarantee for the agreement is facilitated

All investors who manage to obtain the status by subsequently concluding an agreement for the development of the project must pay a guarantee. Earlier, with the old decision, the guarantee was at the level of 10 percent of the investment value.

"The insurance of the agreement is done as follows: a) For hotels with 4 stars, 10% of the value of 8 million euros (800 thousand euros); and b) For 5-star hotels, 10% of the value of 15 million euros (1.5 million euros)" says the old VKM of 2018.

In the new decision, the government sanctions that "The insurance of the agreement is done as follows: a) For 4-star hotels for the value of 240 thousand euros (3% of the floor value for 4-star hotels of 8 million euros); b) For 5-star hotels for the value of 450,000 euros (3% of the floor value for 5-star hotels of 15 million euros)"/ Monitor Magazine