Buy property in Montenegro and get a residence permit

1. Can Russians buy real estate in Montenegro?

As of May 6, 2024, there are no restrictions for Russian citizens on the purchase of real estate in this country. There are also no restrictions for other foreign citizens. Citizens of Kazakhstan, Ukraine, Turkey, European Union countries, Israel, as well as America or other foreigners can enter into a deal to purchase housing in this state.

2. The process of completing a purchase and sale transaction in Montenegro

1. Standard set of documents:

• international passport
• TIN
• Confirmation of financial solvency (account statement)

2. Tax on the purchase of real estate: 3% of the cadastral value 3. Registration of property rights: In the cadastral and registry authorities

Important:

• Before buying real estate
• Check the legal purity of the object
• Check for any encumbrances
• Conclude a purchase and sale agreement with the help of a lawyer

Our specialists will accompany you at all stages of the transaction with a translator and check the legal purity of the transaction. If you have any questions, ask us or sign up for a free consultation: +382 69 777 680 Viber/WatsAap/Telegram or send us an email: gomonte3000@gmail.com.

3. Where to buy the cheapest housing in Montenegro

You can buy cheap housing in Montenegro in such regions as: Bar, Petrovac, Dobra Voda, Ulcinj, Krimovica - if you want to live by the sea or, for example, in the north - these are Zabljak, Pljevlja, Niksic. The GoMonte real estate agency offers a large selection of housing at different prices, without commission. See our catalog with convenient search: gomonte.me

Prices in the regions depend on the distance from the sea, developed infrastructure, type of housing, its physical wear and tear, availability of equipment and furniture.

Advantages of the north: low prices, including for utilities, calm atmosphere, picturesque nature. Disadvantages: distance from the sea, electric or gas heating, less developed infrastructure, no job vacancies.

The advantages of living by the sea: developed infrastructure, a large selection of cafes, shops, there are job vacancies. Disadvantages: high prices and noise, especially during the tourist season

You can also choose apartments under construction and pay in installments. Find out more from our consultants: +382 69 777 680 Viber/WatsAap/Telegram or send us an email: gomonte3000@gmail.com.

4. What does buying an apartment or house in Montenegro give?

Owning real estate in Montenegro provides a number of advantages: residence permit, investment potential, business opportunities.

A residence permit gives the right to: reside in the country for up to 180 days a year, obtain a permanent residence permit after 5 years, the right to free medical care, educate children in schools and universities, obtain a Schengen visa.

An apartment, house or villa can be rented out, receiving passive income of 1000 euros per month and above. There is also an increase in prices and in the future you can resell the property if you bought in a favorable location.

5. What documents are required to obtain a residence permit based on the purchase of real estate

To obtain a residence permit in Montenegro for real estate, the following documents are required:

• International passport
• Original criminal record certificate
• Insurance for 30 days
• Bank account statement for at least 3650 euros

You can submit it yourself, or you can turn to our specialists for help. Read more about residence permit and cost here: services/residence-permit.

6. Real estate in Montenegro: pros and cons

The advantages of purchasing real estate in Montenegro include:

1. Low prices compared to other European countries
2. Ease of completing a transaction
3. Low taxes
4. Favorable climate for living
5. Security

Minuses:

1. Lack of central heating
2. High humidity on the coast, which can cause mold growth; it is necessary to monitor the ventilation and maintenance of the property

7. Real estate in Montenegro pitfalls

Despite the fact that every year the demand for the purchase of construction projects is growing, both residential and commercial, there are many nuances that need to be taken into account before deciding to make a deal. Pitfalls can await you in legal matters, when choosing a developer, location, and even a lawyer. Therefore, it is important to seek help from professionals who will help you avoid unpleasant moments and work only with specialists who have been proven over the years.

1. Illegal construction

Before purchasing a property, you must carefully check all documents to ensure that it was built legally. For example, there may be a discrepancy between the cadastral and real areas: in some cases, the cadastral area of a property may differ from the real one.

If you are purchasing property from heirs, you must carefully check all documents to ensure that there are no inheritance disputes.

2. Unscrupulous developers

Many do not meet construction deadlines, which can lead to financial losses for buyers. There is also poor quality of construction. Before purchasing a property, you should carefully inspect the property to ensure that everything complies with the technical requirements and construction documents.

3. Poor infrastructure

In some regions of Montenegro, the infrastructure is not as developed as in developed European countries. This may cause some inconvenience, especially for those who are accustomed to a high level of comfort. For example, there may be difficulties with accessing the Internet. It is better that it has already been carried out.

To avoid stress and take into account all the nuances, including checking for illegal construction, entrust the transaction to our real estate agency GoMonte in Montenegro. More than 10 years on the market, positive customer reviews, large catalog of properties on the coast and north: gomonte.me.

8. Tips for buying a home in Montenegro

• Determine your budget
• Select region and type of accommodation
• Study the market
• Compare prices
• Check the documents
• Engage a lawyer or contact the specialists of our agency.

9. About GoMonte

GoMonte company provides services:

• Receive a free consultation.
• Renting real estate for a temporary stay in Montenegro, drawing up rental agreements, notarizing the transaction, providing a free translator.
• Purchasing real estate for permanent residence, assistance in preparing documents for obtaining a residence permit. Read the list of documents required to obtain a residence permit in the section Residence Permit in Montenegro.
• Possibility to conclude an agreement online and pay for the rental or purchase of an object. Various payment options: a regular transaction through a bank or in the digital currency Bitcoin.
• Trust management of your property. More details here: services/estate-management

We legally check all transactions for security: whether the seller really owns the property, whether he has debts, whether the seller owns 100% of the apartment, not a share, and we also check his functionality. The realtor must provide information about the presence or absence of encumbrances on the apartment, and only after these checks do we create a purchase and sale agreement and be sure to have it certified by a notary. Transfer of payment to the owner for the purchase of real estate only after registration of ownership.

See our catalog of offers on the website: gomonte.me. Read also other articles on the topic of buying a home: Luxury real estate in Montenegro and its investment potential blog/post/21, How to choose and buy an apartment in Budva blog/post/22.