Residence Permit in Montenegro

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 EUR deposit into a bank in Montenegro
3. Valid medical insurance for a period of not less than 30 days
4. Copies of each page of a valid passport
5. Certificate of no criminal record from the country of origin (not older than 6 months).
Also, within 24 hours of your arrival in Montenegro you need to register your arrival with the local police branch or with the closest tourist office (turisticka organizacija). You will need to be registered there in order to receive the permit.
Fees : 25 EUR (10+10+5)
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.
Foreigners with residence permits will be obliged to notify  the local police office each time they leave and return to Montenegro.