How to Buy Property in Montenegro
16.07.2020
Over the last few years Montenegro has become more and more popular not just with tourists but also for people who wish to take advantage of the low purchase tax system here, among with the many other benefits on offer, and buy a property whether it’s for use as a holiday home, permanent home or as rental investment, so, we thought we’d put together a simple ‘how to’ article for you on the process of buying in Montenegro.
It’s actually really simple buying a property here, so that’s good news, and really all you need is a valid passport. Once you’ve been shown around by your agent, and settled on a property, we can carry out the rest.
Reservation Deposit
As with most other countries, you will need to pay a reservation deposit, to secure the property and for it to be taken off the market. This also starts the sale & purchase process, and the amount is usually an agreed percentage of the total sales price. This is paid at the same time of the reservation agreement being signed.
Vendor Information
If the vendor of the property is a private individual, the next step is for them to provide firstly legal proof of ownership via the title deeds, and secondly their ID card or passport. If, in some circumstances, it’s owned via a company in Montenegro they would need to provide confirmation of the companies registration (as per the Montenegrin Central Register) together with a company stamp.
Associated Documentation
Once proof of ownership has been provided and checked over by the legal representative, the next step is the purchase and sales contract which can be signed personally or by power of attorney, then the Clausula Intabulandi (Permitted Property Registration Clause) and lastly the purchase and sales payment schedule, which can be paid all at once or via an agreed schedule by both parties.
Purchase Taxes
After the associated documentation stage comes the purchase tax, and that is 3% of the evaluated price of the property, which is due within 2 weeks after the contract has been signed. There is however no tax due if the property is bought direct from the developer.
Property Registration
The final step left is just to apply for the registration of your new property in Montenegro in the name of the new owner and be issued with the title deed! Then it’s a congratulations, all around, and a celebration.
The whole process for buying a property in Montenegro is around 1-3 months, but of course CMM Montenegro will be here to help you all the way.
Once you’ve bought your new home here, we can also put you in touch with our Management Department and they can help with renovation, furnishings or the rental of your new property in Montenegro.
We hope this helps – but if you have any further questions, please do contact us, and we’d be happy to assist. We look forward to welcoming you to Montenegro soon.
Reviews
In period May-August 2022 we sold our flats in St-Petersburg Russia and have bought two ones here in Montenegro, Becici. We decided to move here and make new home and business with my husband. Our agent Milica Zugic is really became our angel - provider here in Montenegro. She is very reliable, responsible , professional employee of CMM Budva department. She has developed intuition and found very fast necessary properties which we needed. Also she helped us to speed up the process of registration documents in MUP.( list nepokretnosti, etc). She was our real provider here. Very appreciated her and all staff of Budva department for there assistance. Separately to lawyer Ivan and his legal team. Very recommended choose Milica Zugic as real estate manager when you search for assistant in this complicated and important field as buying property in Montenegro.
Liudmila Nosova St-Petersburg Russia , 13.09.2022 09:20:09
At the beginning of April 2022, our family living in Prague bought a house in Sutomore with the assistance of your company.
Let me express my gratitude to the management of your company for the service provided, and especially to your employees - Anastasia Zeyak, Alexei Grachev and Elena Bozhovich for their attention, patience and even care for the whole time of buying real estate and the services provided after the purchase.
I would really like all companies to work with the same quality of service. After coming into contact with this kind of attitude towards the client, all our environment, if necessary, will refer to your company only.
With gratitude on behalf of our family.A.V. Ter-Gazaryan, 12.07.2022 10:32:19
Based on my experience with CMM in Budva, Montenegro, I can say that they are reliable, fast, and they deliver what they promise. They take really good care of their clients. For instance, I was offered a lift from the airport, and they would take me back and forth from Tivat to Budva and Becici to see various properties. They would answer all of my questions and respond promptly. They have an excellent team: Katarina, Alexander, Natasha, Martin and some other guys whose names I don’t remember. Katarina, my wonderful agent, went to every length to help me find a perfect home. Unfortunately, my situation changed and I had to postpone my relocation to Montenegro.
I would strongly recommend this company to anyone who is looking for a property in Montenegro.Val , 13.05.2022 02:18:13
We were introduced to CMM by friends who had already done research on Montenegro and CMM. We purchased our apartment in Dobrota, just outside Kotor, all remotely from South Africa, during the lockdown. Everything was seamless without any problems at all. All the CMM departments work together well from the sales team, head office, legal, interior design and rental department. Every detail was well communicated with an abundance of zoom meetings, videos, emails etc
We are thrilled with the outcome and enjoyed working with the CMM team. They were incredibly professional.
After sales service is also excellent as we move into the rental phase of the apartment and over all management of the apartment including maintenance.
We have been directly and indirectly involved with many houses/apartments all over the world and this was the up there with the best service we have received.
Thanks to everyone we dealt with at CMM it has been an absolute pleasure dealing with you all. We look forward too many happy years working with you on our rental.Mandy and Antoine, 06.10.2021 08:56:22
Biz Montenegroda CMM komandayla tanish olmushug. Snejana ve Milan bize cox yaxshi destek olublar. Artig bizim burada evimiz de var. Bize gosterdiler cox yuksek service, ve artig butun bizim senedler de gaydasindadir. Boyuk hormetle onlara Cox sagol bildiririk!
Dilara, 01.10.2019 06:17:27
Last year we decided to find a new home close to the sea. It was quite difficult in the beginning to make the right choice. Once we found CMM Company was a great luck! We immediately received detailed consultation on the country and purchase opportunities. Being attracted by Kotor - one of the most amazing parts of the coast, we decided to take a family trip and maybe make our dream of new home come true. As just discoverers of Montenegro, we were accepted like at home which was a one more pleasant surprise. The most important, we received all detailed information about country regions and procedure of buying property during the first few days. And how beautiful the car journeys were! Difficult choice, but when you find the home you want you can't refuse it. CMM did best to help us with this finding! All the purchase procedure passed well with CMM professional work! Now we are happy owners of a wonderful house with a Kotor bay view, being perfectly served by CMM Management company (of course, we've chosen CMM as professional house manager). Hope our friends and relatives would also move to Montenegro with the CMM help soon !!!
Kate, 22.03.2019 11:06:21