Buying property in Montenegro - the main stages of the procedure
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The laws of Montenegro are such that a citizen of another country can freely purchase housing or commercial property throughout the country.
Thanks to the simplified procedure for registering the property, buying a property in Montenegro will not take long. Here, do not require a large number of permits for registration in the property of the vending object. Local lawyers immediately after inspecting the site or premises will help to draw up a detailed preliminary contract, which will guide the client at the conclusion of the final contract.
When the contract is signed, it is possible to pay for real estate in Montenegro even in cash - the form of payment here is of no significant significance. It is especially convenient that you can import into the country any amounts of cash and funds on bank cards, there are no restrictions.
The right of ownership on the basis of the contract must be formalized in court.
In general, the whole procedure takes less than a week (in the absence of any non-standard complications).
The state fee for the registration of the contract of sale will cost you 2 percent of the total value of the property. In general, tax on real estate in Montenegro is low - about 0.25% of the market price.
If you are planning to rent out a property in Montenegro for rent, it's better to do it officially - the tax on such commercial operations here is symbolic, but there will be no problems with local authorities.
Up to 3 months of stay in Montenegro visa is not required. To obtain a permit for a longer stay in Montenegro, present documents on the registration of the enterprise as a source of income. After five years of living in the country, one can qualify for citizenship.
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