Real estate in Montenegro will now get a temporary residence permit
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Real estate in Montenegro will now get a temporary residence permit
Since November 3, 2015, the owners of housing in Montenegro will be able to obtain a temporary residence permit for a period of 1 year.According to the Kommersant newspaper, all owners of residential properties in Montenegro now have the right to obtain a temporary residence permit.
According to the decree signed by Milo Djukanovic:
- the size of investment in real estate does not matter
- The type of housing can be anything (both residential and commercial real estate, including catering and offices)
- The residence permit will be issued for a period of 1 year (there are no restrictions on the possibility of its extension)
What do you need to obtain a residence permit under the new conditions?
- a document confirming the ownership of the residential property
- Montenegrin medical insurance policy (the minimum period of validity of insurance is 40 days)
- at least 3,650 euros in the bank account (or the guarantee of another person to cover the expenses of a foreign citizen at a rate of not less than 10 euros per day)
Official statistics, how many Russians today own real estate in Montenegro, no, but the average data indicate an amount exceeding 30,000 residential properties. This decree will greatly facilitate the life in Montenegro of both new investors and people already having housing on the territory of the country.
Experts suggest that the innovation was a response to the critical situation with a rush sale of real estate near the sea: prices fell by more than 30%, but even such a significant decrease did not greatly stimulate the massive demand for mansions and apartments. The most expensive and popular Budva is still at the level of 1600 euros per square, and well-equipped two-hundred-meter cottages with swimming pools are in no hurry to leave even for 250-300 thousand euros.
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