Frequently asked questions
- Can foreign citizens purchase property in Montenegro?
- I have some investment capital and want to buy a home overseas. Why should I choose Montenegro?
- Is the region stable?
- What is the political situation in Montenegro?
- What is Montenegrian currency?
1. Can foreign citizens purchase property in Montenegro?
A. Yes. In order for foreign purchasers to complete a sale, their country of origin must have a reciprocal agreement with Serbia & Montenegro. In the case of UK and Ireland such an agreement exists. The selling and buying of properties is without restriction in Montenegro and is regulated by law and legally secure. Ownership is guaranteed and in that respect there are no specific limitations, the only exceptions being public property i.e. streets, squares, public objects of special importance etc of which the sale and purchase is not permitted.
« Back to the top2. I have some investment capital and want to buy a home overseas. Why should I choose Montenegro?
A. Property is very affordable, the best value you can get in this part of the Mediterranean. It is still a new and undiscovered market for foreign investors. However, this is expected to change over the coming years as prices are expected to follow the boom in neighbouring Croatia. This is the fantastic time to invest in Montenegro. Please refer to our About Montenegro section.
« Back to the topA. Formerly a part of the Federal Republic of Yugoslavia. Spared much of the devastation faced by other Former-Yugoslav countries during the civil war of the 90’s, it nevertheless suffered considerable economic hardship. It is now going through a period of rapid change and economic growth. Being a little rough around the edges adds much to Montenegro’s charm, but it is a safe and welcoming country.
« Back to the top4. What is the political situation in Montenegro?
A. Following the referendum on the status of Montenegro, on 21 May 2006, the state union of Serbia and Montenegro was dissolved and Montenegro has become an independent and sovereign state with full international legal personality.
On 31 May 2006 the Republic Referendum Commission confirmed the results, according to which 55.5% of voters expressed their support for independence and the turnout reached 86.5%, the highest rate recorded in Montenegro since the country has been organizing free and democratic elections.
The Democratic Union of Socialists (DPS) led by Prime Minister Milo Djukanovic and the Albanian Democratic Union (DUA-UDSh) were in favour of independence whilst the Popular Socialist Party (NS), the Serb Democrat Party (DSS) and the Serb Popular Party (SNS) were in favour of maintaining the union with Serbia.
On 3 June 2006 the Montenegrin Parliament adopted the "Declaration of Independence" stating that the Republic of Montenegro became independent with full legal personality under international law. Recognising legitimacy of the whole process the EU Council adopted on 12 June 2006 Conclusions where the EU and its Member States decided to develop further their relations with the Republic of Montenegro as a sovereign, independent state.
The first parliamentary elections since Montenegro split from its union with Serbia were held on 10 September 2006. At stake were 81 parliamentary seats, seen as especially crucial since the new parliament is going to adopt a constitution for Montenegro. Mayoral elections were also held in 13 of a total 21 municipalities in Montenegro on 10 September.
5. What is Montenegrian currency?
A. Montenegro has adopted the Euro as its own currency.
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