For many foreigners who fell in love with Montenegro for its unusually beautiful nature, the acquisition of real estate in Montenegro becomes an opportunity to legally live in this country without any problems and enjoy all its charms without time limits.
Since April 2015, after the entry into force of the new Law on Montenegrin Aliens, it has become possible to obtain a residence permit in Montenegro (boravok) to stay in the country for more than 90 days on the basis of ownership of real estate in this country. However, due to the fact that initially the Law did not specify the procedure for obtaining a residence permit in detail, it really began to act only after the adoption of a number of amendments, which entered into force on November 03, 2015. The procedure for obtaining a residence permit for real estate was maximally simplified and provided for the possibility of obtaining a residence permit in Montenegro for a period of up to 1 year with an unlimited extension in the future.
What nuances should be taken into account when making this type of legalization of residence in Montenegro?
1. A residence permit is issued on the basis of the following set of documents: passport of a property owner, medical insurance with a validity of at least 30 days at the time of processing documents, a certificate of absence of a criminal record, certificate of ownership of the property (List Nepokretnosti), receipt of payment of state duty. You also need official confirmation that the property owner has funds in the account with the Bank of Montenegro that are necessary for living in the country for a year at the rate of 10 euros per day (i.e. at least 3650 euros in the account), or a guarantee that your expenses will be covered from another faces.
2. Based on amendments to the Law that entered into force on November 3, 2015, a clear list of types of real estate objects is determined, the acquisition of which gives the right to obtain a residence permit in Montenegro: apartment, villa, family house, country house (weekend), hotel (property, intended for the provision of hospitality services), an office-residential building, an office building without any restrictions on the cost of real estate purchased.
3. The maximum period for consideration of documents for a residence permit is 40 days. The Confirmation of delivery of documents sets the date according to which you must come in person with the Confirmation within 5 days and receive a residence permit document in the form of a plastic card, otherwise the permit will be canceled. It should also be borne in mind that the property owner must be present in person both at the bank in order to open an account and at the police when applying for a residence permit.
4. A residence permit for real estate gives the right to reside in Montenegro without time limits, but does not guarantee in the future obtaining a permanent residence permit and citizenship. It is also necessary to consider that if you left Montenegro for a period of more than 30 days a year (or are absent from the country for more than 90 days in total for a year), your residence permit will be canceled.
5. A residence permit can only be issued by owners whose names are registered in the Certificate of Ownership of the property, regardless of the size of their share in the property. Family members subsequently apply for a residence permit under the right of «family reunion» (spouse and minor children).
Montenegro is one of the few countries where you can become a full-fledged resident fairly quickly and without unnecessary difficulties.
If you have any questions regarding the preparation of a package of documents for a residence permit, we are always ready to help you with the preparation and submission of documents in accordance with the current legislation of Montenegro. Send your request to our e-mail: info@montebase.com and our manager will contact you within 24 hours.
