Montenegro is one of the most beautiful corners of our planet
In the southwest of the Balkan Peninsula lies a small but truly amazing country - the Republic of Montenegro. The unique geographical location of this country in the central Mediterranean and favorable climatic conditions have long attracted the attention of investors from all over the world. And the number of people wishing to purchase real estate in Montenegro is increasing every day.
This is one of the most beautiful corners of our planet. The total area of Montenegro is only 13,800 sq km. However, here there is everything that a person who appreciates the beauty of nature and environmental safety could dream of: sandy, pebble and artificial beaches with a total length of more than 73 km, endless lakes, picturesque canyons and, of course, mountains. It is the mountains that gave the name to this magical country, which in English is pronounced as Republic of Montenegro.
Montenegro is considered both a coastal and a mountain country. The waters of the Adriatic Sea wash the western coast of Montenegro, which has a length of 293.5 km. It should be noted that this part of the country, which is so attractive for those who intend to purchase real estate on the sea coast, is a fairly narrow strip of land from 2 to 10 km wide, which on one side is caressed by sea waves, and on the other - protected by majestic mountains.
From the point of view of the political structure, Montenegro is a 'free, democratic, environmental state of social justice, based on the principles of the rule of law.' This definition is given in the Constitution. The official capital of Montenegro is the city of Cetinje, but the de facto capital is considered to be the city of Podgorica.
According to the current legislation of the country, both citizens of the country and foreign individuals and legal entities can acquire and sell land plots, as well as various real estate objects both residential and commercial in Montenegro. Moreover, paperwork for real estate can be completed quickly. The executed purchase and sale agreement is registered in the Court. This procedure, of course, is not free. A registration fee of 40-800 euros is charged for it. However, ownership of the newly acquired property occurs only after payment of a one-time real estate purchase tax, the rate of which is 2% of the property's value, after which the new owner receives a Decision on entry into the cadastre, and then an extract from the state cadastre - a List of immovability, for which you will also have to pay 30 euros.
In the future, the property owner will need to pay an annual property tax, the amount of which is determined individually depending on the location of the property, its size, condition and other factors. The range in which this tax varies is from 0.08% to 0.8%.