After visiting Montenegro for the first time, the idea of coming back chases you like persistent ads on websites.
However, this is about a feeling that, unlike annoying ads, you don’t want to get rid of.
You came looking for a vacation, but you got much more than that. A feeling of being at home. Yes, this might sound like a typical marketing phrase, but the facts show otherwise. In recent years, the legal system in Montenegro has undergone numerous reforms that make procedures easier for foreign nationals, especially when it comes to buying property in Montenegro, starting a new business, obtaining a residence permit, etc.
- Montenegro is open to foreign investors. According to this year’s World Bank report ranking countries by ease of doing business in 2017, Montenegro ranks 42nd (out of 190 countries), with continuous progress in this area over the years.
- Real estate tax ranges from 0.25% to 1%
- Montenegro is a signatory to the Double Taxation Avoidance Agreement with, so far, 41 countries (Russia, Turkey, Belgium, UAE, Azerbaijan, Cyprus, Italy, Norway, Switzerland, the UK…)
- According to the 2018 White Book by the Council of Foreign Investors, net foreign investments in Montenegro in 2016 amounted to 755 million dollars, and investments per capita were among the highest in Europe.
- Montenegro, as one of the fastest developing destinations and a signatory of the Free Trade Agreement, is ranking higher among foreign tourists on the list of countries to visit. This is confirmed by MONSTAT’s 2017 report, which shows an increase in the number of foreign tourists by 10.3% compared to 2016 (with a total of 11,953,316 overnight stays).
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Whether your new home is in Podgorica or Tivat, both cities are easily accessible by plane. Montenegro has two airports – one in the capital city and one in the coastal part of the country, in Tivat. In addition to the national airline, Montenegro Airlines, other carriers also operate flights to Montenegro: Turkish Airlines, Air Serbia, Ryanair, WizzAir, Alitalia, Adria Airways, Austrian Airlines, Arkia Israeli Airlines, Israir, EasyJet, Globus Airlines, Aeroflot. The number of airlines flying to Montenegro is constantly increasing. Montenegrin airports also offer services for private and business jet landings and handling.
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When planning your life in Montenegro, you might also consider starting or continuing your business. According to the 2018 Doing Business report, Montenegro scored 90.62 out of a possible 100 (representing best practice) for starting a business. The procedures are becoming more efficient, and the number of required permits has been significantly reduced.
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Your new home is in Montenegro, but your stay is legally limited to 90 days? Not anymore! According to the Law on Foreigners (Article 38), if you own real estate in Montenegro, you can obtain a residence permit for up to 12 months. The residence permit is issued by the competent Ministry, based on your completed and signed application, personal identification, and documentation proving ownership of the property (Property List issued by the cadastral office).
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Buying a new apartment often marks the beginning of an entirely new life — in a new city, in another country. Montenegro is truly a foreigner-friendly country for those who wish to start a business. Accordingly, legal regulations are the same for all legal and natural persons, whether Montenegrin or foreign nationals.
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Corporate income tax in Montenegro is 9%.s
After all the mentioned figures, percentages, and laws, we must not forget the most important factor — the one that will help you feel at home in your new neighborhood: the PEOPLE.
Montenegrins are very open to making friendships and communicating, and they will gladly share with you all the secrets of how to truly experience Montenegro and the lifestyle that defines it.
Montenegro offers the best conditions for your lifestyle and a genuine feeling of home.
Before undertaking any legal procedure, consult the relevant state institutions and the official website of the Government of Montenegro.
