We offer you professional services for real estate consultancy, project development, real estate management and legal advice for real estate. Getting a residency permit in Montenegro is the most popular method second to obtaining a residence and working permit by establishing a company. If you want to get a residence permit from Greece with the same method, you have to spend a minimum 250.000 Euro or more. However, there is no minimum limit In Montenegro, so every building you get for residential purposes gives you the right to obtain residence and work permits in Montenegro.
Why is it Advantageous to Buy Real Estate in Montenegro?
Montenegro has become a favorite country for real estate investors since it is one the few countries in the Balkans with a Mediterranean climate and turquoise coast. Russia, Azerbaijan, Serbia and Turkey are almost in competition with each other for real estate investment.
Featured Property Benefits in Montenegro:
• Your Montenegrin real estate investments will pay off in a short time and gain significant value.
• You can get a residence and work permit by purchasing real estate.
• The Montenegrin government is planning to invest 200 million euros in road and transport services in the southern regions to improve the tourism sector. This will have a positive impact directly on the values of the real estates in the region.
• The country's unique natural beauties and climate; mountain lakes, turquoise beaches, winter and sea sports.
• High living standards, small population (637,000).
• Rich ethnicity, historical values.
• Low crime rates (Montenegro has one of the lowest crime rates in Europe).
• Economic freedom and stable system.
• Montenegro attracts intensive foreign investment (FDI).
• The summer tourism sector is very active, apartments are in high demand as they are rented by tourists for 4 months.
• Property transfer tax is only 3%.
• You do not pay taxes if you buy directly from the construction company.
The number of tourists are increasing regularly each year and this has a positive effect on the country's property values. This information is also shown on the Central Bank of Montenegro's property values data. Kotor and Bar have luxury marinas worldwide. When all these effects are combined with foreign investments from abroad, the value of real estate investments in Montenegro, which is a small country with 13,812 km2 area, eventually inreases.
Another important factor is the decreasing interest rates. According to the data of the Central Bank of Montenegro; banks are able to provide services at low interest rates to investors and also to those who want to buy real estate with loans due to the low interest rates in the country.
Montenegro Interest Rates by Years
Receiving Citizenship from Montenegro by Purchasing Real Estate
As mentioned earlier, there is no minimum rate for purchase of residential real estate in Montenegro to obtain residence and work permits. But if you want to get Montenegrin citizenship and get a Montenegro passport then there are investment rates set by the government. According to a recent law that has passed in October 2018, Montenegrin citizenship will be granted for a period of 3 years (until the end of 2021), via purchase of real estate at set prices. This special right is limited to two thousand people. The following table shows the minimum amounts for the mentioned law.
If you get a passport with real estate investment from Montenegro, you can continue to hold your current citizenship because dual citizenship rights apply in Montenegro. You will receive a residence and work permit in Montenegro 21 days after the necessary procedures are completed and the Montenegro passport will be provided within 6 months. If you wish to obtain citizenship by obtaining Montenegro State Stocks, you will be charged EUR 10,000 per person (up to 4 persons) for each additional family member.
You can travel to 123 countries, including Germany, Italy, Denmark, Belgium, France and Switzerland without a visa when you have Montenegro passport.
There is no foreign language proficiency requirement for Montenegrin citizenship applications. Other requirements; you cannot be a citizen of the European Union, you must not have a criminal record, a copy of your passport and financial documents that proving the source of necessary income for your investment (such as company, heritage, partnership, financial investment, etc.).
You must make an initial application to the Montenegrin state before investing in this limited opportunity. The quota is unfortunately limited to 2000 people.
If you are planning to buy investment property in Montenegro, you should check our after sales services. We provide you with a wide range of services with our experienced staff in finding tenants, real estate maintenance, housing security in Montenegro.
The cities of Kotor, Budva and Podgorica are the most suitable regions to buy real estate and convert into rental income. Tourists are renting seasonal homes in Montenegro, because the touristic facilities are not sufficient. The most in demand regions are in southern Montenegro.
Montenegro Commercial Real Estate Investment
The economic environment for commercial real estate investment in Montenegro is very convenient and is constantly supported by the state. Government incentives, affordable land prices and the underdeveloped construction sector offer foreign investors attractive opportunities with high revenue conversion in the construction field.
If you plan to invest in Montenegro to obtain a residence permit, this investment must be a residential building according to the applicable laws. However, the profit potential of commercial real estate investments multiplies the values in the residential market. Many construction companies from foreign countries such as Russia and Turkey are drawn to invest in Montenegro.
Montenegro Property Rights for Foreign Investors
Montenegro's property rights is one of the main concerns of commercial investors. The investments you have made in the country are protected under international laws. The right of foreign investors to acquire property in Montenegro is determined and fixed by law.
The Montenegrin government can only buy the property of a foreign investor when it becomes public interest under very rare circumstances. It is very difficult to create such conditions (such as the emergence of natural resources on the land, etc.), and if so, the Montenegrin Government pays the landlord at rates above the market value.
Your property rights in Montenegro will be transferred to your heirs by inheritance under the same conditions as the inheritance rights of permanent citizens. You will lose your permits (residency) if you resell the property that you have purchased for a residence or work permit.
Montenegro Real Estate Incentives
In Montenegro, there are significant amounts of real estate incentives determined by local authorities. Some of them are designed as employment support and some as tax-free rights. Similarly, there are various other incentives such as free application, discounted infrastructure service and rent support.
Podgorica Municipality Real Estate Incentives
• Exemption from real estate tax
• Exemption from municipal taxes and 50% discount
• 1 Euro per m2 when renting land, provided that the contract does not exceed 30 years
• Priority in issuing construction permits
Ulcinj Municipality Real Estate Incentives• Plot of land for rent or sale at special prices (long term)
• Discount on real estate taxes
• Discount on personal income taxes
• Decisions specific to each project and additional incentives
Niksic Municipality Real Estate Incentives
• 50% discount on infrastructure service fees
• 70% discount on real estate tax
Rozaje Municipality Real Estate Incentives
• Free infrastructure service operations for agriculture and woodworking sectors
Bijelo Polje Municipality Real Estate Discounts
Under market value rental fees
• 50% discount on infrastructure service fees
• Additional discounts on personal income and real estate taxes
Cetinje Municipality Real Estate Incentives
• Free support for consulting services such as business plan preparation
• Free assistance in the preparation of any application documents
• 50% to 100% discount on real estate taxes (first 4 years only)
• Maximum 0.02 Euro for land rental fees per m2 per year for the first 5 years (maximum 0.02 Euro in the following years)
• Free 1 trainee support for every 10 employees employed
These incentives are effective for increasing commercial real estate investments and they provide many advantages to foreign investors. The Russians, one of the largest foreign investors in the country, slowed their investments in Montenegro for several years due to the 70% devaluation of the Russian Ruble in 2014, but this situation has been reversed in recent years. When Russians sold their houses at under market values it created a small turmoil. This issue reduced real estate prices to a certain extent, but today, especially in the port cities, minimum m2 prices start from 7000 Euros.
Real Estate Services We Offer
• Real estate market analysis
• Land purchase and sale notary transactions
• Title Transfer Procedures
• Architectural services
• Interior design services
• Housing reports
• Strategic Consultancy
• Infrastructure research
• Market research, price evaluation
• Risk analysis
Contact us to find real estate that meets your criteria. We convert your residence, detached house, office or apartment needs into smart investments thanks to our experienced staff and professional contacts in the real estate market. We ensure that your commercial or residential real estate investments are evaluated at the most accurate prices.