Commercial real estate in Montenegro: how to buy or rent premises for your business

According to statistics for 2023, the country is experiencing economic growth due to foreign investment: the influx amounted to 428 million euros, of which 50% was in the construction of apartments, hotels and residential buildings. Regions with high demand: Budva, Kotor, Bar, Tivat, Podgorica. The advantages of such investments are, first of all, low taxes and ease of doing business.

1. How to choose and buy commercial real estate in Montenegro

1. Select an area: city center, tourist area, residential area, business area, suburb. Look at the catalog on our website: https://gomonte.me/

2. Study the infrastructure: proximity to parking, cafes and restaurants for lunch breaks, post office for sending and receiving registered letters, banks.

3. Analyze your competitors, their prices, study customer reviews, and determine your advantages.

4. Make an external and internal inspection of the building or specific premises. Pay attention to communications, Assess the level of lighting and noise insulation, Make sure you have the necessary permits. Also check the technical specifications: Electricity supply, Water supply, Heating, Ventilation, Air conditioning system, Security systems.

Questions to ask before concluding a transaction:

• Cost and payment terms
• Availability of additional payments or deposits
• Possibility of renovation and redevelopment (some historical buildings have restrictions)
• Availability of additional services

2. How to check the legal purity of a transaction

1. Request the necessary documents: cadastral passport, certificate of absence of encumbrances, extract from the Unified State Register, technical passport, consent of the spouse (if required)

2. Check the authenticity of documents

3. Make sure there are no legal disputes or encumbrances

4. Check the legal capacity of the seller

Our company GoMonte helps not only in selecting and concluding a deal, but also checks them for legal purity. You will not only save time, but also avoid the stress of communicating with government agencies. If you have any questions, ask our specialists: +382 69 777 680 Viber/WatsAap/Telegram.

3. Rent of commercial real estate in Montenegro on the coast

Many entrepreneurs choose this country to open restaurants, cafes, shops or hotels, and there is a wide choice when looking for suitable premises - from small areas in historical buildings to modern shopping centers. Prices depend on location, size, technical equipment, availability of furniture or equipment. On average, the cost of renting an office in Montenegro on the first line is from 1000 euros/month for an office or cafe with an area of 43 m².

View this lot and find out more: properties/r3600

Advantages of renting on the coast:

• High tourist flow during the season from May to September
• Developed infrastructure
• Prestigious location

Questions for a landlord:

• Terms, annual price, payment terms, deposit amount
• Cost of utility bills
• Availability of Internet, cleaning, parking space

4. How to buy commercial real estate in Budva

Purchasing warehouse, production or office space can be a good solution for investing in the future for the purpose of resale, as demand is constantly growing.

5 steps for a successful transaction:

1. Define your goals and budget
2. Conduct market research, analyze prices and development prospects for areas.
3. Contact the professionals of our company GoMonte. They will help you with your choice and check the legal purity of the transaction.
4. Consider local laws and regulations.
5. Consider the potential of the site. Consider the possibilities of renovation or modernization to increase its value and profitability.

Top offers by the sea:

1. Office in the city center, 70 m², up to 10 workstations. Floor 3, terrace. Details: follow this link

€315,000

To open a business and generate income:

2. Hotel, 320 m2, 2 floors. 5 parking spaces, 300 m from the beach, 6 rooms and 3 apartments, reception, restaurant, kitchen, laundry. Details: follow this link

€1,599,900

3. A building overlooking the sea for a casino, restaurant, hotel. 752 m², plot: 1813 m². 5 floors. Parking. Alarm system, video surveillance, heated floors, furniture. Details: follow this link

€1,800,000

5. Office rental in Budva

In addition to tourism, Budva is an attractive place for conducting any activity, trade or provision of services, due to its strategic location and developed infrastructure. Here you have the opportunity to enjoy beautiful views of the sea and the city panorama directly from the windows of your workplace. This not only creates a positive work environment, but also helps increase employee productivity and attract new clients.

A large selection of options for various areas of business activity: from small offices in the city center to spacious commercial premises on the first lines by the sea. Available with or without furniture, allowing tenants to choose the best option according to their budget and requirements. Every entrepreneur will be able to find a suitable option for their needs. If you want to open a restaurant, a beauty salon, or a hotel, then you won’t have to worry about equipment or furniture; everything you need may already be there and you won’t have to waste time searching.

By choosing the right location based on your needs and goals, you can create a comfortable environment for your team to work, attract visitors and reach new heights in your activities, regardless of whether you are a startup, small or large company.

View the catalog of our offers here: here

6. How to complete a transaction and what conditions should be taken into account

1. Make sure that all documents and transactions comply with local laws and requirements.

2. Make sure that the property has no encumbrances, debts or disputes.

3. Specify the cost, payment terms, procedure and form of payment.

4. It is important to determine the duration of the contract, the possibility of its extension, and the conditions for termination.

5. It is necessary to clearly state the responsibility of the parties for violating the terms of the transaction, the procedure for resolving disputes and possible penalties.

6. Make sure that you have written down all the necessary conditions regarding the rights and obligations of the parties, the procedure for using the object, the terms of lease or purchase and other important points.

Concluding an agreement requires care, professionalism and knowledge of the local real estate market. Our specialists will help you comply with the above conditions and avoid unpleasant surprises. View the catalog on our website: here or leave a request: +382 69 777 680 Viber/WatsAap/Telegram, email: gomonte3000@gmail.com

7. What documents are needed to register a business in Montenegro:

1. Application for business registration to the tax office or authorized body.

2. The charter of the company, which contains information about the name of the company, its goals and type of activity, as well as its legal form.

3. Passport details of the founders and directors.

4. Receipts for payment of state duty.

5. Decision on the appointment of a director of the company.

6. Depending on the type of activity of the company, additional documents may be required, such as licenses, permits, etc.

Read more about the cost and requirements in the section “Registration of a company in Montenegro and obtaining a residence permit”: services/residence-permit

8. Taxes and fees

1. Purchase tax

• If the cost of the property is up to €150,000 - 3%. The exception is those lots that were purchased from the developer, in which case no tax is paid.
• From €150,000 to €500,000 - flat tax €4,500 and another 5%
• From €500,000 - fixed €22,000 and 6%

2. Tax on rental income

• If you plan to make a profit from rent, a mandatory tax of 15% is required.

3. Value added tax (VAT)

• The VAT rate of 21% is already included in the price.

4. Annual tax

• 0.1-1% of the market price.

5. Utility payments

• Depends on the readings of control and metering devices. On average, maintenance of a small office is up to 50 sq.m. can cost 100-200 euros/month. This includes: water supply, garbage removal, electricity.

If you have any questions, get a free consultation from our specialists +382 69 777 680 Viber/WatsAap/Telegram, email: gomonte3000@gmail.com.

Read other articles on this topic: Ideas for a profitable business and obtaining a residence permit in 2024 blog/post/28. Relocation of the company and employees: blog/post/12.