Buying property in Montenegro - FAQs

Are there any taxes to pay?

The most important is purchase tax, which is 3% of the value of your property – valued by the tax office regardless of the purchase price on the contract. Purchase tax is payable as soon as the main contract is signed. It is recommended that you pay the tax immediately as interest rates will charged for every day of delay….

Purchasing a property in Montenegro (how to)

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Purchasing a property in Montenegro is a simple process and we do everything we can to ensure your purchase runs as smoothly as possible. An outline of the process is set out below: Once you decide which property you wish to buy, we help negotiatingthe price acceptable to you and the vendor. Then we recommend to appoint a lawyer (licensed…

The cost of buying property in Montenegro

Apart from agreed purchase price the main costs of the purchase are: 3% purchase tax and the legal fees. We advise our clients to add 4-5% on top of the purchase price for the overall costs. Here are more details: Purchase tax or title transfer tax is 3% of the value of the property which is determined by the tax…

How do I get a residency permit?

How do I get a residency permit in Montenegro? (Details about our service on the bottom of this page) A foreign citizen can obtain a residency permit in Montenegro based on a property purchase or work permit. There are other ways such as studying in Montenegro but the above two are the most common. A temporary residence permit is issued…

What are the bank charges for money transfers in Montenegro?

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Bank transfer charges to and from abroad to an individual’s private account in Montenegro are as follows: CKB bank FX inflows (loro remittances) The fees charged by the Bank to receive the funds from abroad depend on the inflow amount, and they are as follows: –  amounts up to EUR 3,000 – 1% of the amount –  amounts from EUR…

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…