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Yes, foreigners are allowed to buy houses, but not bare land. However, foreigners are allowed to form Montenegrin
companies without Montenegrin participation, which may purchase bare land. That is what many international property investors have done last year.
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Yes of course. EU citizens can enter Montenegro without a visa and remain here for three months at a time. By obtaining an entry stapm in your passport you can stay indefinitely in Montenegro. If you want to came by car you should obtain a green insurance card.
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Buying and selling properties in Montenegro goes without restrictions and is regulated by law. Property ownership is guaranteed and without specific limitations. The buying process itself is very straightforward and without complications:
- You negotiate an acceptable price and verbaly reserve the property. In many cases deposit is required.
- The contract is drawn between vendor and our client, that is, you.
- A bank account has to be set up in order to transfer money.
- Once the contract is signed and purchase tax of 2% is paid the documents are taken to Cadastre and it takes between one and ten days to register new owner(s)
The whole buying process can take up to 30 days.
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