In terms of registering property rights in Montenegro, citizens of EU member states have equal rights as citizens of Montenegro. There were restrictions in the earlier period until a Stabilisation and Accession Agreement was not concluded with the European Union which is when all the restrictions were lifted.
A company which is registered in Montenegro and whose founder is a foreign legal entity or a foreign citizen is considered as a local company and is not subject to any restrictions in terms of registering rights over properties.
The process of purchasing and selling properties in Montenegro is strictly formal and the actual process takes place in front of a Notary Public of jurisdiction. Based on experience, I have very good communication with Notaries who perform their activities for the municipality in which I live and I normally prepare a draft of a Contract for them, along with accompanying documentation.
A taxation report is lodged within 15 days from the day of the conclusion of the Contract on the basis of a Property Transfer Tax which amounts to 3% of the purchase and sale price.
It is possible for a foreign legal entity to also directly become the Title holder due to the fact that is an EU member. There are no restrictions in terms of the number of properties.
There are no additional expenses upon the sale of a property.
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