How to buy?
The procedure is quite simple. If the buyer wants a property he simply pays for it at the same time as he signs a full sales contract with the owner(s) and that's that.
Alternatively he can pay a deposit, wait a month or so and then pay the rest. It depends on his agreement with the owner(s).
The buyer will have to give a copy of his passport together with power of attorney to our agent to do the conveyancing on his behalf.
The alternative is to open a company. This is a fairly simple process and can be done mostly by power of attorney to our agent who will be engaged to take care of everything. A company is opened for - you won't belive it - € 11 !!! (plus our costs).
Real estate transfer tax payable to the government by the purchaser is calculated at 2% of the value of the property.
Something that we have mentioned in case of BiH also aplly in Montenegro - "Foreign investors have the same owner's rights on real estates as Montenegro nationals". If you have already surfed through our website - you have noticed that mentioned sentence doesn't apply i.e. in Croatia. Therefore - it is sometimes very clever and much easier to purchase property in Montenegro.
Registration in the name of the new owner takes up to three months from conclusion of the sales contract during which time the new owner can take possession of the property.
Property can only be bought through a cash purchase given there are no mortgages available at the moment. Open a bank account upon arrival, this must be done in person(s), the only documentation required to open an account is your passport.
A visa is not required for all of EU citizens to visit Montenegro.
A buying process can be a very time consuming. Every step can be undertaken personaly. We advice all of our clients to use our services - because we are domestic, we are in this business, we know how it functions. We are together with you at all stages of your property purchase in Montenegro - as well as afterwards.
A bit complicated? With us - buying a property in Montenegro is a pleasure!