BAZA Properties
1. Are there any restrictions for foreigners wishing to buy a property?
No, there are currently no restrictions on foreigners wishing to buy a property in Montenegro, all you need is a valid passport, and our devoted team of real estate experts and professionals will do the rest!
2. What’s the process when buying a property in Montenegro?
Once you've decided on the property you'd like to purchase, your personal sales manager and our in-house lawyer will negotiate all the terms and sort out the required documentation at the notary. The purchase and sales contract is signed in front of a notary who is assigned for the region where the property is located and the following documents are signed and registered:
* Purchase and sales contract, which can be signed either personally, or by power of attorney (POA);
* Clausula Intabulandi: Permitted Property
* Registration Clause
* Purchase and sales payment schedule - The amount can be paid straight away or can be paid in stages through a certain period of time, depending on the agreement between the parties.
* The advice on how to register your property in Montenegro
3. What are the costs I need to take into account when I decide to buy?
When you buy a property in Montenegro, it will consist of a deposit, the agreed sales price, as well as the taxes and legal fees.
There is a property purchase tax at the rate of 3% ( if it's a re-sale property) as well as the fees for drafting the agreement at the notary 's, which depending on the length of the contract will vary from €300 to €500 euros.
This rate depends also on the price. For instance, if the price is €100.000 euro, the fee could be approximately €350 euro +21% VAT.
According to the Montenegrin law, a court interpreter specialized in your native language shall be present during signing of the agreement.
4. How can I get the residence permit of Montenegro?
The temporary residence permit can be obtained through either purchasing a property in Montenegro or forming & starting a company here – both of which our consultants can help you with, guiding you through the process.
You can also gain Montenegrin citizenship and a passport which will enable you travel to 124 countries visa-free. You can apply for the Montenegro Citizenship by Investment Program, and further information can be found here.
5. How can I register my property in Montenegro?
The process of registering your property in Montenegro is rather simple. Our legal team know inside out all aspects of Montenegrin property registry regulations. For an affordable fee and through the given power of attorney, they will register your property for you and assist you in receiving your title deed.