How to get a property in Montenegro? Consider the main stages of the acquisition (execution of the sale and purchase transaction) of real estate in Montenegro. According to the Law on Foreigners in Montenegro, foreigners have the right to acquire ownership of real estate, and also, on the basis of ownership of real estate, receive a residence permit.

Acquisition of real estate is executed in the form of a contract of sale and purchase on an established model with the attachment of other required documents. The contract of sale of real estate is certified by a notary authorized to do so. Preliminary documents verification and contract preparation is preferably carried out with a notary who will certify the contract.The acquisition (purchase / sale) of real estate is divided into several necessary steps:

1. The choice of the object and familiarization with it on the spot (or remotely with the consulting support of an experienced realtor manager in Montenegro);

2. Checking the necessary documentation together with the manager, owner and notary;

3. Coordination of the absence of arrears in the taxes payment and utility payments, the absence / presence of the need to legalize the object;

4. Pre-sale actions, including:
a) preliminary contract of purchase / sale of the object;
b) the removal of the object from sale and the imposition of restrictions on the alienation in the cadastral registry;
c) buyer prepayment of 10% (or full payment under the contract), which is a guarantee of the deal. Further, in the event of the seller’s refusal, the deposit is returned to the buyer, in the event of the buyer’s refusal, the deposit is not returned;

5. Payment of the object and the transfer of legal ownership. After full payment of the object – drawing up the main legal contract of purchase / sale with the signing of the seller, buyer, legal translator, notary.

Note: According to the law of Montenegro and the established practice, the contract of purchase / sale is drawn up in Montenegrin language (or in two languages on the request of the parties), read out aloud by a court interpreter, the notary informs the buyer and seller about all possible aspects of the transaction.
a) transfer of funds according to the main contract to the specified current account of the seller;
b) issuing a receipt (tabuljarna isprava) in the presence of a notary of receipt of funds;
c) the notary’s sending a copy of the purchase / sale agreement to the Cadastre agency for registration (usually 2-3 months) and to the tax authority to calculate the tax amount;
d) obtaining a Certificate of Ownership – list nepokretnosti, indicating the end of the legal transaction of purchase / sale;

6. Payment of taxes in accordance with the legislation of Montenegro, including:
a) registration in the tax authority of Montenegro and obtaining an individual tax number (matični broj), as well as opening an account in a local bank;
b) tax payment of the purchased property in the amount of 3% according to the conclusion of the tax authorities;

Note: When buying a new property from the developer (VAT payer), the buyer does not pay this tax.

The cost of services for registration of the sale of real estate.

The amount of the cost of services for registration of the sale and purchase of real estate depends on the availability of all necessary documents, the cost of the object itself, the rates of the involved organization, the need for additional inspection of the object or documentation for it.

Note: When buying property through our agency «MonteBASE», the initial verification of documentation, acquaintance of the buyer with possible real estate options, consultation and support of the transaction by the manager with knowledge of Montenegrin, English and Russian languages – FREE.

The main expenses of processing the transaction look like this:

1. Notary services for registration of the sale/purchase of real estate depend on the value of the object:

The cost of real estate according to the tax authority (euros)

The order of the costs of notary services (euros)

up to 50 000

up to 250

51 000 – 79 000

340

80 000 – 119 000

440

120 000 – 169 000

500

170 000 – 219 000

540

220 000 – 319 000

630

320 000 – 419 000

730

420 000 – 519 000

830

520 000 – 619 000

940

620 000 and more

from 1000 (negotiable price)

2. The services of a court translator who has the appropriate license:
– for interpretation at the notary – from 40 to 100 euros;
– for the written certified translation of the contract of purchase / sale – from 150 to 200 euros.

3. Payment of tax on the purchase of real estate – 3% of the estimated value of the object in accordance with the calculation of the tax inspection.

General note: MonteBASE works directly with property owners and buyers, without intermediaries, without additional fees, and also works directly with local institutions and specialists for reliable and prompt processing of contracts and preparation of necessary documents.

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