Buying property in Montenegro - FAQs

Residence Permit in Montenegro

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Foreign property buyers are able to obtain a one year residency permit based on the ownership of a property in Montenegro regardless of its value. The permit can be renewed annually. The following documents are required: 1. Proof of ownership of the property (List nepokretnosti) that is not older than 6 months 2. Proof from the bank of a 3.650…

What are the bank charges for money transfers in Montenegro?

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Bank transfer charges from abroad to an individual’s private account in Montenegro are as follows: (these are the charges of just the local Montenegrin bank.There are additional costs levied by the sender’s bank) CKB bank Up to 3.000 EUR – 1% or 3 EUR minimum From 3.000 EUR to 50.000 EUR – 0,5% From 50.000 EUR – 0,3% ERSTE bank…

Are there any loans available for non residents?

In cooperation with CKB bank we are now in the position to offer mortgages to our clients for buying a property in Montenegro.Typically the mortgages are 50% LTV (loan to value) at approx 8% interest rate over 1 to 25 years. For more information please contact us at info@montenegroprospects.com

Evaluation of second homes in Montenegro

There are three basic factors that we need to consider when talking about the value of properties on the coast of Montenegro 1.       Location 2.       State of the property 3.       State of the market Traditionally location is considered the most important factor in determining the value of real estate worldwide. In our market the proximity of the sea or beach…

What can I do to spruce up my property to help it sell?

There are a number of things you can do at no or little cost that will help to show your property in its best light. Here are a few of the basic ones: Clear clutter away Clear away most personal items (clothes, lots of photo frames etc) but important to leave the odd item ( eg. one coat hanging up,…

I understand it’s a buyers’ market so how do I make my property stand out?

First, do an appraisal of the market. What are similar properties on the market for and crucially, what are they selling for? Contact info@montenegroprospects.com for the selling prices in your area. Pitch your property at the right price but with enough room for negotiation. Find out who is buying in that area and approach a proactive agency who have the…

How do I register my vehicle?

Foreign citizens in Montenegro who have received a temporary residency permit may register a purchased car in their name. For this you need: • Copy of certificate of registration of the vehicle (on the previous owner’s name) • The contract of sale and purchase • Your passport and a copy of the photopage and the page with the residency permit….

Is there a double taxation treaty between Montenegro and my country?

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Montenegro has so far signed 42 double taxation treaties with various countries on income and property. 36 treaties (6 are pending) are now in force with: Albania, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Germany, Hungary, Iran, Italy, Korea, Kuwait,  Macedonia, Malaysia, Moldova, Netherlands, Norway, Poland, Romania, Russia, Slovakia, Slovenia, Sri…

How do I get a copy of the ownership list or deeds of my house?

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The easiest way to get a copy of the ownership list would be to contact your lawyer. You can also obtain a copy direct from the Land Registry office (usually in the Municipality office). For a stamped copy you would need to pay 13 EUR fee. Alternatively you can check it on line at http://www.nekretnine.co.me/uprava2/mne/Katastarski_podaci3.asp There are two ways to…

How do I pay utility bills?

All water, electricity, rubbish, phone, internet, cable TV bills can be paid in the local post office or bank. Alternatively, water and electricity can be paid directly to the company. Some banks offer the possibility to automatically pay your phone or electricity bills from your bank account. You can find more details regarding the price of electricity on this link…

Who offers property insurance in Montenegro?

There are many companies offering insurance in Montenegro, but we would recommend: Lovcen Osiguranje will insure your property for 1 EUR per sqm if the property is inhabited and 1,5 EUR per sqm if the property is only used occasionally.They have offices in all major towns throughout Montenegro. You will need to bring your Passport or some other ID, and…