Why buy real estate in Montenegro?


Montenegro, the small Balkan state has a well-developed infrastructure, world-class hotels, a mild climate, beautiful nature and a steadily growing economy. Its tiny territory is covered with mountains, forests, rivers and lakes. More than 8% of the territory falls on nature protection zones, which makes this place one of the best for those who love ecological tourism. The country`s main natural asset, of course, is the sea. The swimming season lasts more than 7 months – from the end of April to the end of October, and the total length of the beaches is 73 km. Montenegro is a relatively inexpensive country to live with excellent growth potential. The growth of GDP in recent years confirms this statement: in 2017 it amounted to 4.7%, in 2018 – 5.1% and 5.5% in 2019.

The Citizenship by Investment Program launched in late 2019 is the undoubted advantage of investing in real estate in Montenegro. The program will last until 2022 and is limited not only in time, but also in quantity – as of today the Government of Montenegro allocated only 2,000 quotas.

Montenegro is a candidate for EU membership in 2025. Under the legislation of Montenegro, upon obtaining citizenship, there is no obligation to renounce citizenship of other countries. In addition, the holder of the Montenegrin passport gets the opportunity to freely travel around 120 countries of the world, including the Schengen zone. Assessment of the application and delivery of the passport takes time from 3 to 6 months. The applicant may also include the spouse and children who are dependent on him in the application.

The conditions for issuing a Montenegrin passport are as follows:

  • purchase of real estate from € 250 thousand when buying in the northern part of the country and from € 450 thousand in the coastal part;
  • making a non-refundable payment of € 100 thousand to the state fund.

Important note: the selected investment property must be in the register approved by the Government of Montenegro.

When buying real estate in the amount of less than specified thresholds or not from the government register, the investor receives the right to a residence permit. There is no need for a permanent or minimum temporary stay in the country in order to maintain citizenship. Another interesting point here is that citizens of Montenegro can get non-immigrant investor E3 visa in the USA, which allows to live and do business in the USA.

The transaction expense, in addition to the cost of the purchased property, includes additional costs:

  1. government fees: € 15 thousand for the main applicant, € 10 thousand for each family member, if the application includes no more than four dependent persons, and € 50 thousand for each additional family member;
  2. security check fees: € 7 thousand for the main applicant, € 10 thousand for a family of four (including the main applicant) and € 1,5 thousand for each additional family member;
  3. fees for a biometric passport.

Montenegro also has a low tax burden. Real estate tax ranges from 0.1 to 1% calculated based on the cadastral value of the property. The specific rate depends on the type, location, quality and age of the property. Utility costs are the lowest among Western European countries. The average size of utility bills for 80 m2 apartment is € 120 per month.

According to the World Tourism and Travel Council (WTTC) in the next 10 years, Montenegro will become the second most popular tourist destination in the world. Today, in addition to the mentioned above advantages, Montenegrin real estate also has a relatively low-price tag among European countries. Affordable housing formats start at € 1000 per 1m2. So it is actually a good time to buy real estate in Montenegro.


Please contact us to receive more details on real estate and the Citizenship by Investment of Montenegro.


By Zainudin Makhachev

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