Residence permit for property owners in Montenegro

The Montenegrin parliament has accepted a new law concerning foreigners in Montenegro. The law will apply from 1st of April.
Foreign property buyers in Montenegro will be able to get a residency permit based on purchase of the property. The permit will be issued for one year.
The law has not yet defined the minimum value of a property, and this will be set by the government. Apart from proof of ownership, foreign buyers will have to have sufficient income for living, a place to live, medical insurance, a valid passport and proof of no criminal record in their home country or in Montenegro.