Find your home in Montenegro – Meet the Access Montenegro Team, create your portfolio and book your property viewing

  • Email the Access Montenegro team at info@accessrealty.com or call +382 69327435 if you require assistance with arranging your property viewing trip to Montenegro;

  • Advise our agents of your property requirements – let us know the type, area, features, amenities you are looking for from a property for purchase in Montenegro, as well as your preferred location and budget;

  • We will create a portfolio for you to match with your ideas of your perfect home/investment opportunity and an itinerary for the viewing trip;

  • Property viewing trip is an important and enjoyable part of the purchase process, where you will have an opportunity to get a feel of the properties in person, look beyond the photos and plans on paper and taste Montenegrin lifestyle;

Negotiate the purchase price and conditions

  • Once you find a property that matches with your requirements, negotiate the price and purchase conditions with the seller, with our assistance if needed.

Sign the reservation agreement and leave a deposit to reserve the property

  • When price and purchase conditions are agreed, the buyer usually signs a standard reservation agreement and places a deposit (usually €3.000 – €10,000) to take the property off the market, so make sure you have access to funds which allow you to place a reservation deposit when needed;

  • This deposit is a part of the agreed property purchase price

Lawyer and power of attorney

  • We recommend that you appoint a lawyer licensed in Montenegro to act on your behalf during the property purchase process. We can provide you with a list of lawyers with whom our clients have worked successfully in the past.

Property paperwork

  • Your lawyer’s duty is to carry out a detailed check of the documents relating to the property you wish to purchase and ensure the property is ready for sale from a legal perspective.

Sign the sales and purchase contract

  • Once your lawyer and the seller finalize the Sales and Purchase Contract, obtain your approval and have it translated into your preferred language, the contract is then signed either by the buyer personally or by the lawyer you appoint. Each contract must be signed and verified at an office of the Notary licensed in Montenegro. We can provide you with the costs of Notary services if needed.

Registering you as the new owner at the cadastre office

  • Once the Sales and purchase contract is signed, and the full price of the property is paid, the seller provides the client with a document, clausule intabulandi-which gives the right to register the client as the new owner of the property;

  • Your lawyer will follow this process through, until you receive title deeds in your name.

Financing your property

The banks grant loans only to foreign citizens who have residence permits and are hired under a labour contract.The applicant needs to be employed with a large and rather well-known organisation and have an indefinite labour agreement.Here is a list of banks in Montenegro where you can find their contact details. Please feel free to contact them for any specific questions you may have.1.Crnogorska Komercijalna Banka → For further details click here

2.Erste Bank → For further details click here

2.Lovćen Bank → For further details click here

3.Prva banka → For further details click here

4.Addiko → For further details click here

5.Hipotekarna → For further details click here

Temporary residence for foreigners based on property ownership in Montenegro

  • A foreigner who owns property in Montenegro can obtain a temporary Montenegrin residential permit, provided that the property in question is an apartment, house, condo, hotel or a restaurant;

  • There are no limitations in relation to the value or size of the property;

  • The permit is issued for a period of one year and can be further extended;

  • This type of residential permit does not give a foreigner the right to work in Montenegro;

  • Please contact us for further details and information on supporting documentation.

Purchase costs

Reservation deposit

  • Usually €3,000 – €10,000;

  • This deposit makes part of the agreed property purchase price.

Lawyer fees

  • Approximately €1,000 for a purchase of mid-size apartment;

  • Please make sure you agree lawyer’s fees before the appointment.

Power of attorney

  • Approximately €50 to €120 including the translation.

Notary fee for the verification of the sales and purchase contract

  • 0,00 – 5.000,00 = 70 €

  • 5.001,00 – 20.000,00 = 120 €

  • 20.001,00 – 40.000,00 = 170 €

  • 40.001,00 – 60.000,00 = 250 €

  • 60.001,00 – 80.000,00 = 300€

  • 80.001,00 – 120.000,00 = 350€

  • For the property valued above €120,000 for each increase of property price of €15,000 the fee is increased by €10;

  • The maximum Notary fee chargeable for the verification of the Sales and Purchase Contract is €5,000.

Translation of the power of attorney and contract

  • Translation of these documents must be done by a certified court translator. The average price per page is approximately €20, depending on the number of characters per page;

  • A standard agreement is usually written on 5 pages;

  • Any additional changes to the contract requested by buyers, are also chargeable;

  • Usually translation costs in total come up to approximately €100-€200.

Bank charges for the money transfer

  • Bank charges for the money transfer to Montenegro vary from one bank to another, and we encourage buyers to explore various options to see which fits them best.

Cadastre taxes and expenses

  • Cadastre taxes are €15 on average

Real estate transfer tax (RETT)

  • The Real Estate Transfer Tax for the purchase of a resale property is set at 3% of the value of the property and this is payable by the buyer;

  • The value of the property is determined by the Local Municipality Tax Authority and usually matches the price listed in the Sales and Purchase Contract;

  • This payment must be made within 15 days form the signing of the Sales and Purchase Contract;

  • Where the client is purchasing a property which has not been sold before, from a Developer who is a VAT paying legal entity, the client will be exempt from RETT on the full sales price and RETT is calculated on the portion of the land which the client is purchasing. Your lawyer will make sure that this is stated in your contract.

Annual real estate tax

  • The annual real estate tax rate can range from 0.1% to 1.00% of the real estate market value. The real estate market value is determined by the authorized taxation body of a Local Municipality and payable annually. The percentage is determined according to property specifications, age and location.

 

Prva Banka CG

https://www.prvabankacg.com/en/index.php

Addiko Bank Crna Gora

https://www.addiko.me/kontakt-centar/