The Law on Proprietary and Ownership Rights of Montenegro which regulates proprietary rights in Montenegro since 2009 prescribes as general principle that foreigners may acquire immovable properties in Montenegro as Montenegrin citizens. However, the Law also prescribes the following exemptions in respect to acquiring ownership rights by foreigners:
- Goods in generaluse;
- Forest and forestland;
- A cultural monument of great and special importance;
- Immovable property in a land-border area to a depth of one kilometre and islands;
- Immovable property which is located in an area which is to protect the interests and security of the country, legally declared an area in which a foreign person cannot have a property right.
Note: Exceptionally, a foreign person may acquire the right of ownership of agricultural land, forests and forest land with area of 5.000 m2 only if the contract on alienation (purchase and sale, gift, exchange, etc.), residential building located on that land.
What we can offer:
We will be glad to help you with
- The negotiation about the purchaseprice and conditions
- Arrangement the Lawyer & Power of Attorney
- Signing of the reservationagreement
- Leaving a depositto reserve the property
- Property Paperwork*
- Signing the purchasecontract
- Registering you as thenew owner in the cadaster (Ownership registry)
We are domestic, we are in this business more than 10 years and we know how it functions.
We are together with you at all stages of your property purchase in Montenegro - as well as afterwards.
*Before you complete your property purchase you should make sure you have seen:
- The Land Registry extract (“katastarskaskica”) which provides all the information on the land’s use, regulation (building restrictions) and structure.
- For the properties which are not included into the Land Registry (not available for all areas) a Municipality Sketch is issued.
- Planning permit (“dozvolazaprojektovanje”): you must ensure that when buying off-plan from a developer, the development has been approved from the local municipality (town hall). It is also worth having a look at the Urban Plan which will state whether or not the plot you wish to buy has any building restrictions, is in a green zone or includes a public pathway or similar.
- The paid-up receipt for the previous owner’s annual property tax. It is also wise to make sure that there are no unpaid fees and taxes from previous years.
- The Cadastral certificate giving the exact boundaries and square metres of your land
- The Use Permit which is issued by the town hall for new buildings or restructured ones and certifies that the property is habitable. You will need this document to connect to electricity and water companies.
- It is wise to require from the seller of the property to provide evidence for absence of any liabilities concerning the property (taxes and other statutory costs and fees) or its use (consumable expenses). Ask the property agent for information regarding any costs the owner has not paid. You should be aware that if you later find that there are any outstanding debts, as the new owner, you assume the debts for the current and previous year. For this reason it is strongly advisable to ensure that you have a copy of an affirmation stating that the previous owner has no debts.
- A property survey: this is not obligatory but it is wise to get a chartered surveyor to check the property before you complete.
- If you are buying an off-plan property, confirm that there is an architectural plan for the property approved by local municipality. Ensure that the developer/constructor has the necessary insurance to cover build defects.
- The preliminary contract – this contract is not obligatory but is usually signed between the buyer and the seller before the public deed is granted. You should make sure that you fully understand the contract before you sign it - if you are not fluent in Montenegrin the public notary shall require presence of official interpreter to ensure that you fully understand the terms of the contract.
- The title deed – it is important to check that there is an accurate description of the property in the deeds.