How to buy property in Montenegro

STEP 1 Property selection

During the first stage the company monitors the market and a selection of property units is made according to the investor’s preferences.

Regarding terms and conditions and characteristics of property being sought.

STEP 2 Arranging a visit

The next step involves arranging a visit to Montenegro in order to view the properties.

This will include an arrival meeting and a property viewing itinerary.

STEP 3 Signing of the Preliminary contract and property reservation

After signing the preliminary sales contract, the buyer has to pay deposit of 10% of the total property price. This will secure a reservation.

This procedure secures the buyers interests and ensues that the owner of the property will not sell it to other purchaser. If the buyer breaks the agreement, the money does not return.

STEP 4 Signing of the Contract purchase – sale

All documents has to be notarised.

The contract should be signed in a notary office in the presence of a certified court interpreter.

STEP 5 Final Payment

Buyer covers the remaining amount within the deadlines of the Contract.

Way to this step takes around 3 months.

STEP 6 Property registration

The bank payment confirmation and the contract – are the main documents on the basis of which the re-registration procedure will begin.

Upon receipt from the buyer cash seller, in the presence of a notary, issued a receipt confirming the receipt of the full amount from you due to the Contract.

Re-registration of ownership in the Cadastre lasts around 2-3 months.

After that the buyer is given the certificate of ownership, where he/she will be registered as the new owner.

STEP 7 Tax payment

According to the amount in the Contract and to other evaluation criteria, experts of the tax office determine the value of the object and calculate the tax 3% from this sum, which you will need to pay.

Taxes and maintenance check list