Buying and registering property in Montenegro
Montenegro, the little explored ‘gem of the Adriatic’, has ancient cities and bays nestled in the coastal folds of its majestic mountains. With reasonable prices and many locations to choose from, there’s property in Montenegro for everyone.
How it works in Montenegro:
1. Find a property. A local real estate agency offers properties that match your preferences as a buyer. The city, district and your budget are the main things to take into account. Once you have found one or more options that interest you, the agency will arrange viewings. Don’t hesitate to ask your real estate agent any questions about the property, payment procedures or potential discounts.
The real estate agent's fee is
2. Negotiate the deal. The parties decide the details, terms and conditions of the proposed transaction. You can also check out the land registry records to make sure your future property has been erected with the correct construction permit, that the property rights are valid and there are no encumbrances or tax arrears. You will need a valid passport and the seller should be able to provide a property title (list nepokretnosti) and excerpts from the local land registry. A sale by a legal entity will also require the documents of incorporation. All these documents need to be translated by a certified court translator. Fees for interpretation services are about €50 per hour and translations cost €20 per page.
3. Sign the preliminary sales contract (predugovor). You are expected to make a down payment (kapara) amounting to 10% of the purchase price. Your deposit is
4. Sign the final sales contract (glavniugovor). The sale is executed by a notary who certifies the sales contract and other transaction documents while the seller confirms their property rights with local authorities. A court (osnovni sud) seals the signatures on the document. We advise you to make an appointment with the notary well before the transaction and submit the documents for review at least three days prior to the signing.
5. Pay off your property. Full payment is generally made within one month of finalizing the deal, but it is not uncommon in Montenegro to stage the payments by installments over a long period of time.
Once the payment has been accepted, you will also need to get proof of the transaction (clausula intabulandi). This receipt acknowledging the payment and the sales contract will allow you to record the property title transfer with the land registry, becoming the official owner of your new home. Registration can take up to 60 days to complete.
6. Pay the property tax. The notary will send a copy of the sales contract to the tax authorities who will evaluate the property based on the contract and market prices. You will then have to make a
7. Get the property deed. Once you have registered your property, you or your legal representative can apply for the transfer deed. It takes
|up to 5,000||70|
|up to 5,000||70|
*Prices are quoted net of VAT (19%)
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