Opting for a property-based permit requires you to purchase real estate in Montenegro, and have it registered in your name in the Land Registry. It is important to note that a property purchase tax of 3% is applicable. As part of our commitment to assisting you, we offer comprehensive support in selecting the right apartment. We’ll check all legal due diligence, who built the apartment, are there any issues with water and electrical installations, is the building being managed properly (you have to pay 0.20C per m2 per month for cleaning and managing the building- bad management can lead to low budget and that will lead to many issues with the roof and facade of the entire building). We’ll also check how friendly is the neighborhood, if there is a lot of noise in the building, are there any issues with the neighbors, is there any issue with loud music from nearby bars, and much more.
We provide access to legitimate websites where you can review property listings, and we will negotiate on your behalf to secure the best possible price, as it can go down from 3-5% if the intermediary is removed, which can happen by finding and contacting the landowner directly. If we successfully manage to lower the price for example 2000EUR, our fee will be 10% out of that amount (200EUR). Our service includes all expenses related to property based residency permit:
Before your arrival: We’ll provide you with all legitimate website offering real-estate. We’ll give you suggestions regarding which city would suit you the most. We can also scout and negotiate the price of apartments even before you arrive. If you find an apartment you like, we’ll put a down payment to reserve it, or manage everything in your name via PoA.
Day 1: You’ll arrive in Montenegro, and register your stay at the local tourist agency. We’ll collect all documents, translate them in the office of official court translator. We’ll start the process if you already reserved the apartment, otherwise we’ll go together to find the apartment you like the most, and negotiate the best price possible. We can also try to remove intermediary agencies by finding and contacting landowners directly.
You found the apartment you’d like to purchase: We’ll check EVERYTHING, starting from the building license as that is the most important thing to have everything in order. We’ll check all legal due diligence, and ensure you have 1/1 apartment that won’t bring any issues in the future. We’ll also check water and electric installations, and management of the building. Having a good building management is crucial to the whole building, as roof and façade needs to be renovated every 5-10 years. There are many cases where people on last floor and even on 4 th and 3 rd floors (out of 5-6) have issues with water leaking due to bad roof isolations. We’ll check how friendly the neighborhood is, is there is a lot of noise in the building are there any issues with the neighbors, is there any issue with loud music from nearby bars, and much more.
Once we finish our inspection, we’ll go together to the notary office to sing the property transfer contract. Once you sing it, you’ll pay the previous landowner, and we’ll start registering the property under your name. It can take from 2-3 weeks to even 2-3 months for the Land Registry to process new transfers. The delays come from the state institution, holidays, too many workers on the paid absence, large number of property transfers and purchases. We work closely with state administration to speed up the process, and make sure everything is completed as soon as possible.
Your apartment is registered at the Land Registry: We’ll apply for residency permit based on property ownership. The residency permit registration is usually done in 5-10 work days. There can be delays with the state institution, holidays, too many works on paid absence, or a sheer volume of applications, especially in some coastal towns.
Residency application is completed: We’ll start the same day residency applications based on family reunification for your family. We’ll open a personal bank account for you.
Your family residency applications are completed: We’ll open a personal bank account for your spouse.
We’ll open a company in your name, cover all registration related expenses and taxes, advise you regarding business activities, tax, regulations, accounting, business environment and competition in different branches. Our accountant will make sure your business meets all legal and regulatory requirements.
We’ll apply for your residency permit. We have experience in processing residency permits for all nationalities, especially for those who live in countries which don’t have visa agreement with Montenegro. Our lawyers have more than 30 years of experience and will ensure efficient, straightforward process, and expert legal assistance in even the most complicated cases.
We’ll open personal and business bank accounts. We keep track about any changes in the tax, administrative and immigration law. You’ll be promptly notified about any changes in the law and tax.
Note: You’ll also have to pay yearly property tax, with rates ranging from 0.25% to 1.00% per year, calculated based on the city and estimated current value of the property. The real estate transfer tax rate is 3%, but starting from January 2024 they will be progressive and are as follows:
Expert guidance & Fast processing
Our seamless guidance will navigate you through government requirements, eliminating confusion and offering clarity in what might otherwise be a prolonged process when initiating an apartment purchase and applying for residency permit. We attentively consider your requirements and collaborate with you to develop a process and timeline that aligns with your needs. This approach ensures that we meet your expectations without compromising on thoroughness and maintaining the highest standards of compliance.
We attentively consider your requirements and collaborate with you to develop a process and timeline that aligns with your needs. This approach ensures that we meet your expectations without compromising on thoroughness and maintaining the highest standards of compliance.
Focus on prices
Our main focus is achieving the right balance to make the service affordable but professional and fast.
Respectful collaboration
At ResidencySolutions, our experts work closely with you to establish and nurture a relationship built on trust and mutual respect. Our forte lies in being a reliable partner, especially skilled at cultivating trust even in scenarios involving remote collaboration.
Not sure where to begin?
How much does it cost to purchase an apartment in Montenegro?
The price of apartments depends on the location and size.
The apartments in the coastal area tend to be more expansive, and you can expect to pay from 2000EUR to 3000EUR per m2. The exact price will depend on how far the apartment is from the sea.
In the central and northern area of Montenegro you can expect to pay from 1000-2000EUR per m2. The northern area is less developed and scarcely populated, and you’ll easily manage to purchase a property for around 1000EUR per m2.
The central area is the spot most of foreigners look for, as you can get to the sea and mountains in around 2-3 hours. Podgorica is the best choice, as that is the biggest city in Montenegro. You can expect to pay around 1500EUR per m2 for apartments in the suburbs(10 minutes from the center of the city), and from 2000-2500EUR for the best locations.
The intermediary charge over 5%! Can you find the landowner and negotiate the price directly?
Yes! We’ll discreetly contact the landowners, avoid the intermediary, and lower the price for around 5%. There is an additional possibility of negotiating the price with the landowners furthermore, leading to even lower price.
My country doesn’t have a visa agreement with Montenegro. Can you purchase an apartment in my name and do everything without my physical presence?
Yes, it’s possible, but we always prefer conducting business face-to-face, and our recommendation is to secure a travel visa (Category C-we’ll assist with the process). This allows you to be physically present as we thoroughly assess and facilitate the purchase process. If you still want to do everything remotely, we’ll assist you in preparing the PoA (Power of attorney), and provide the same service as if you were here. We’ll use online platforms and local listings to help you find the right apartment and check it out in real time via pictures and video call. We’ll perform comprehensive inspection and negotiate the price in your name. If everything is to your liking, we’ll close the deal.
Can my family come with me?
Yes, your spouse and underage kids can come with you. They’ll apply for residency through family reunification.
When can I get permanent residency? How can I get permanent residency?
You’ll need to spent 5 consecutive years in Montenegro to be eligible for the permanent residency. You can spend 30 days per year outside of country without notifying anyone. If you intend to stay over 30 days ( up to 90 days) you’ll have to provide valid reasons and proofs for the extended stay. If you don’t really care about the permanent residency, you can stay abroad as much as you want, but once you’re back, you’ll have to apply for the residency again, and you won’t be eligible to “extend” the residency.
I want to use my new apartment as a summer/winter resort, and rent it out the rest of the year. Can you rent out the apartment in my name while I’m not in Montenegro?
Yes, we can manage the property for you throughout the year. We’ll prepare it for the rent, sign the contract, collect the fees, pay the tax, utility bills, perform repairs and furnishing, submit the tax returns and notify you of any changes in laws and taxes.
Not sure where to begin?
Schedule a free 30-minute discovery call to discuss purchasing your apartment & obtaining the residency permit in Montenegro.