Buying real estate in Montenegro can take your time, because it is much better than buying an existing agency that knows the rules, has many contacts and connections. The agency will try to give you maximum ease of buying and selling process, will guide you into all segments of the process and will be always at your disposal: by showing the property, obtain and review documentation and make an appointment for making an agreement with the selected notary.
Agency commission is 3% of the total purchase price.
The legislation of Montenegro adopted the principle of constitutionality of registration in respect of acquisition of property rights and other rights over real estate. So, for the acquisition of property rights and other rights to real estate on the basis of legal work you need to have fulfilled three conditions: a valid legal basis (valid legal work, iustus titulus), valid consent registry predecessor (clausula intabulandi) and enrollment in the real estate ( acquirendi mode).
The legal basis or instrument of transfer or acquisition of the most common contract. That the contract was valid in real estate, it is necessary that it be made in due form. Here is a notary record or record of the confirmation of a private document. Legal Affairs on the basis of for the flow or acquire property rights or other rights to real estate are: the contract of sale, contract of exchange, sharing agreement, gift agreement, agreement establishing the easement, mortgage, pledge statement, the contract of fiduciary transfer of ownership, contract for life support, the contract of assignment and division of property for life, etc.. Common to all these legal issues when the subject is real estate, is to focus on the transfer or acquisition of property rights and their enrollment in the real estate.
Also, real estate subject to tax on turnover, but it's not a prerequisite for enrollment in the real estate, but must pay. The rate of transfer tax is proportional and is 3% of the tax base.
The rate of annual real estate tax is proportional and can range from 0.08% to 0.80% of the market value of real estate Annual property tax is paid in two equal installments, the first of which due on 30June 30th and the other November of the year the tax is determined.
A foreigner, an individual can buy real estate, apartment, detached house, office space and is credited as the owner (with identification documents-passport). A foreigner can buy natural resources, goods of common use, agricultural land and forests. A legal entity may purchase an unlimited area of land and is credited as the owner.