Unlike many other European countries, there are no limitations in relation to the value or size of the property.
In accordance with the Law on Foreigners applicable as of April 2015 the Government of Montenegro, in November 2015, a foreigner who owns real estate on the territory of Montenegro is able to obtain a temporary Montenegrin residence permit, provided that the property in question is an apartment, house, condo, hotel or a restaurant. Unlike many other European countries, there are no limitations in relation to the value or size of the property. By law, the permit must be renewed annually.
We offer a complete package of below services below to receive residence permit through purchasing a real estate in Montenegro.
- Consultations on the choice of the region of the real estate;
- Personal selection and viewing of real estate;
- Examination of the property (state, market value, legal conditions), ,
- Consultations for the preparation of documents, purchase and registration of real estate;
- Management of the sales process; meeting with seller, notary & conclusion of the transaction;
- Acquiring the Ownership document.
- Organization of the Residence permit application process and
- Receiving the documents required for residence permit application
Step 1: Decide
First, please decide to start! Please review our site carefully and if you have any questions, please contact us. We ask you to proceed with the registration form as the first step to meet with you.
Step 2: Fill out the registration form
The form specifies the data that we need to process to be familiar with you prior to our meeting face to face, such as:
Personal and contact informations, main objective of your interest for Montenegro; business, living, etc., occupation and foreign mobility conditions.
Step 3: Agreement
As we receive your registration form, we call and set a meeting with you to settle an agreement on the contract of our services. Once we sign the agreement and receive our service payment from you, we start to serve you firstly by selecting process for the probable properties in accordance with your budget and preferences.
Step 4: Preliminary contract with the seller
We consult you on chosing the region and the real estate best fit on your budget and preferences to create a final shortlist.
Based upon the shortlist of the properties, we arrange your visits to the desired properties to reach a final decision of purchase.
Then the parties meet and sign a preliminary contract, which specifies the responsibilities and describes the acquired property, the price and terms of payment.
At this stage, buyer places a deposit (upto 10% of purchase price) to take the property off the market, and a reservation agreement would be signed by both parties.
Documents required to purchase a property in Montenegro:
From the buyer: Valid Passport.
From the seller: Certificate of ownership (nepokretnosti) which describes the property (footage, description of the site, information about the owner, inventory number etc.)
Step 5: Conclusion of the purchase of real estate in Montenegro
Signatures on the contract are assured by the official seal of the judiciary (Notary) in Montenegro. The local municipality fee is determined according to the value of the property.
After signing of the contract, the buyer pays the remainder amount (excluding deposit) specified in the contract.
Step 6: Registration of the ownership document
Once the seller provides a receipt that the payment is received in full, then usually the lawyer or the notary applies to land registry for the owner’s information of the property to be changed in the cadastre. At the final stage the buyer gets a list of Nepokretnosti (proof of ownership) upto one month later.
After making changes real estate tax is paid. In the transition of ownership of property the real estate tax rate of 3% (The value of the property is determined by the Inland Revenue office) of the appraised value of the property are paid by the buyer.
Step 7: Residence permit application
After having received certificate of ownership (Nepokretnosti) upto one month later, now you as the new owner of that property eventually become eligible to apply for residence permit. The documents required are as follows:
Valid health insurance issued by a local insurance company for a period of not less than 30 days
Copy of passport (passport has to be valid for the full duration of the granted residency)
Statement of Clear Criminal Record from the country of origin(not older than 6 months), translated into Montenegrin language
3.650 EUR deposit into a bank in Montenegro (can be withdrawn after transaction)
Cadastre Extract- (Certificate of ownership Nepokretnosti not older than 6 months)
Step 8: Obtaining the residence permit
Having completed all the required documents above, we help you to apply for residence permit. Residence permit issuance is usually completed by Montenegrin authorities within 30 days. We may receive your permit documents with the power of attorney on behalf of you. With your Residence Permit, you’ll no longer be bound by your visa restrictions and can stay in Montenegro as long as you wish.
The permit can only be obtained by owners of houses, apartments, commercial units, hotels, restaurants and holiday homes.
Ownership of a plot of land, ruin or non residential building would not qualify for the temporary residential permit.
The residence permit based on ownership of the real estate shall be issued for a period of one year and can be further extended.