Real Estates F.A.Q.

Yes you do, and it is very important. There are several things you need to check regarding property you want to buy, real ownership, permits for all buildings, possibility of registering in Montenegro real estate authority. For some of them you would need to make several checkups in several governmental authorities.

2. What are conditions for foreigner to own real estates in Montenegro.

Signing up the contract will always protect your ownership of every kind of real estate, problem is that there are some limitations in registering your ownership in Real estate authority. Apartment, or house with yard is easy and possible to register. With bear land there are some limitations, you can register parcel of bear land if it is connected with parcel which is already registered as yours, or if it is urbanized, covered with Detailed urban plan (DUP) and determined for construction by it.

3. Taxes in Montenegro

Base for all real estate taxes is estimated, by officials, value of real estate. You cannot avoid it with putting lower price in contract or making contract of gift. First is trade tax, which you have to pay after signing a contract and it is 3% of estimated value, and it will be delivered on your address (apartment or house), if not you have to check it in municipality. Second is regular annual tax which is 0.1 to 1% of estimated value, and it varies from in different Municipalities. All unpaid taxes will be registered as burden to your property for that amount.

4. Notaries in Montenegro

From middle of 2011. Notaries services are available. They are only ones officially recognized by Real estate agency to notarize real estate trade contracts, also they are only authorized to make those contracts, and the price of their services is connected to estimated value of real estate like this: 5000-20000 125e; 20000-50000 250e; 50000-80000 350e; 80-120000 450e; for additional 50000 50e more, but maximum 5000e.

5. Construction permits in Montenegro

Building permits are usually issued only if there is Detailed urban plan (DUP) covering land you own. In some Municipalities they issue permits according to General urban plan (GUP) or Spatial urban plan (PUP). Sure, in all plans your land should be determined for construction. If everything is as above, you can apply for technical conditions and after they issue them (usually 1-2 months) you can start making project with licensed agency. With finished project and a lot of clearances from various governmental authorities you apply in Municipality for your permit.