Buying guide
Legal issues
Foreign citizens are allowed to purchase immovable properties in Montenegro, upon the principle of reciprocity shared between their respective countries and Montenegro.The reciprocity is in operation with almost all countries of the European Union, America, Canada, Australia, China, and Russia and with almost 30 countries more.
Sales tax (i.e., property sale tax and property rights assignment tax) amounts 2% of the related property’s market value.
A buyer shall be in obligation to pay the brokerage; court office fees for verification of related Memorandum of Understanding, Sale Contract or Annex(es); bank transfer commission of the authorized bank; property sale tax; as well as the fees for the assignment of the user rights (including the right to use connections to telephone, electric energy and water supply installations), and the fee for the registration of such immovable property under his / her name, if all requirements have been met therefore.
Once you have become a real estate property owner in Montenegro, you shall be obliged to pay an annual property tax, between 0.08% and 0.8% is applied on the book value (of the previous year) of real estate located in Montenegro.
The tax rate on buildings is typically 0.2%.
Here you can find quality home insurance.
Legal issues
Foreign citizens are allowed to purchase immovable properties in Montenegro, upon the principle of reciprocity shared between their respective countries and Montenegro.The reciprocity is in operation with almost all countries of the European Union, America, Canada, Australia, China, and Russia and with almost 30 countries more.
Sales tax (i.e., property sale tax and property rights assignment tax) amounts 2% of the related property’s market value.
A buyer shall be in obligation to pay the brokerage; court office fees for verification of related Memorandum of Understanding, Sale Contract or Annex(es); bank transfer commission of the authorized bank; property sale tax; as well as the fees for the assignment of the user rights (including the right to use connections to telephone, electric energy and water supply installations), and the fee for the registration of such immovable property under his / her name, if all requirements have been met therefore.
Once you have become a real estate property owner in Montenegro, you shall be obliged to pay an annual property tax, between 0.08% and 0.8% is applied on the book value (of the previous year) of real estate located in Montenegro.
The tax rate on buildings is typically 0.2%.
Here you can find quality home insurance.
