Our colleagues at CMM Investment Consulting Group, the newest addition to the Chestertons Global Network, have written this helpful guide to the real estate buying process in Montenegro.

Steps 1 to 3: Property Selection, Enquiry and Viewings

Once you have chosen the properties that you are interested in viewing in Montenegro, please contact our colleagues at CMM Investment Consulting Group to arrange viewings for you.

Step 4: Property Reservation

In order to reserve the property you have chosen to buy and to start the Purchase and Sales Process, the reservation deposit has to be paid at the moment of signing of the reservation agreement.

Step 5: Documents

The Purchase and Sales procedure in Montenegro is quite simple. To sign a Purchase and Sales Contract, a passport is the only legal document you need.

Step 6: Document Registration

The following documents are signed and registered:

• Purchase and Sales contract, which can be signed either personally, or by power of attorney (POA)
• Clausula Intabulandi: Permitted Property Registration Clause

Purchase and Sales payment schedule is described in the Purchase and Sales contract. The amount can be paid straight away or can be paid in stages through a certain period pf time, depending on the agreement between the parties.

Step 7: Property Tax Payment

After signing the Purchase and Sales contract, there is an obligation to pay tax from evaluated price of the property.

The buyer doesn’t pay tax in the case when the property is bought from a developer.  If the property is a resale property, then purchase tax applies.

The value of the property is estimated by Governmental Tax Office.

The buyer is obliged to pay the tax within two week after signing the Contract, as interest rate will be charged for every day of delay.

Progressive taxation on real estate transactions if being introduced as follows:

• Real estate transactions up to €150,000 are taxed at a rate of 3%
• Real estate transactions between €150,000 and €500,000 are taxed at a rate of 4.5% +5% to the amount over €150,000
• Real estate transactions over €500,000 are taxed at a rate of 22,000 +6% to the amount over €150,000

Step 8: Ownership Registration Process

After the total amount of the Purchase and Sales contract has been paid and the Clausula Intbulandi issued, the next step is to apply for registration of the real estate to be named after the new owner in the municipality administration.

After that, the new owner receives an ownership title deed.

The whole process usually takes 1-3 months to be finished.  Our colleagues at CMM Investment Consulting Group will manage the process for you.

CMM VIP Club

By purchasing a property with our colleagues at CMM Investment Consulting Group, you gain membership to the CMM VIP Club – offering a personal assistant to support your stay in Montenegro.  The assistant addresses all requests related to real estate and personal matters, guiding you through CMM Investment Consulting Group’s aftersales services, such as renting, managing, renovation etc.

Our colleagues at CMM Investment Consulting Group will also arrange a meeting with their Management Department if needed.

View the contact details of our colleagues at CMM Investment Consulting Group here

To view properties to buy in Montenegro, click here