Help

For clients who have purchased property through us it is free of charge. Otherwise the fee is 250 EUR (stamp taxes are included in this amount). We can help you with the obtaining the residency permit in Kotor, Budva, Tivat and Bar.

Once you submit the paperwork, the authorities have 40 days to issue the permit (id document). Once the paperwork is submitted you will receive the confirmation that the process has started.

As the permit is being renewed annually, the property owner has to spend in Montenegro at least eleven months. If you need to spend more than one month out of Montenegro during this year you have to officially inform the Police and you can spend up to three months abroad.

The permit is issued for one year and it can be renewed annually as long as you still own the property.

According to the new law, the applicant has to have co-ownership over the property with at least A 50% share in order to obtain A residence permit. Basically, it means two people can obtain the residency permit based on the ownership of one property.

Only residential or commercial properties such as houses, apartments, commercial units, hotels, restaurants and holiday homes. The purchase of land plots, ruins or other non-residential buildings would not qualify you for A residency permit. But once the property is renovated/built and registered in the land registry you would be able to obtain the permit based on the property ownership.

Yes – based on the ownership of a property in Montenegro (regardless of its value) foreign citizens can obtain A residency permit.

A real estate broker is an agent who is authorized to open and run his/her own agency. All real estate offices must, by law, have one principal broker. A seller’s agent is a real estate agent that works solely on behalf of the seller and owes duties to the seller, which include utmost good faith, loyalty, and fidelity. However, the agent must disclose to potential buyers all adverse material facts about the property, which are actually known by the broker. A buyer’s agent is a real estate agent that works solely on behalf of the buyer and owes duties to the buyer, which include the utmost good faith, loyalty and fidelity. The buyer is legally responsible for the actions of the agent when that agent is acting within the scope of the agency. The agent must, however, disclose to potential sellers all adverse material facts concerning the buyer’s financial ability to perform the terms of the transaction. A transaction broker is a real estate agent that assists the buyer or seller or both throughout a real estate transaction with communications, advice, negotiation, contracting and closing, without being an agent for either party. When you are talking to a Realtor to help you purchase or sell your home, be sure to discuss the subject of agency.

Square footage includes finished, heated space, also known as “livable space”. Garages, unfinished basements and attics, for example, are not included when calculating a home’s square footage. Hallways and closets are included when determining a home’s square footage, however.

A debt-to-income ratio is important to your lender. To figure out where you stand on the ratio, you must first understand the meaning of the figure. Lenders use various ratios, but the most common is 28/36. The first number, (also known as the front-end-ratio) is the percentage of your gross monthly income that you could comfortably afford to spend on your housing payment. This figure includes escrow for taxes and insurance. The second number, (also known as the back-end-ratio) is the percentage of your gross monthly income that should be spent on all long-term monthly debts combined.

The best answer is “as many as it takes to find a home that works for you”. Purchasing a home will most likely be the single largest investment you will make, so it is important to make sure you find a home that meets your current and future needs. It’s best not to look at just one home, but also not to look at more than 6 or 7 in one day. It’s common to confuse the features if you view too many in one day. Bring a notepad and pen and take notes on your likes and dislikes of each home.

You can build equity in three ways. First (and easiest) is from market appreciation. Second, when making your monthly mortgage payment, try to send a little bit more. This will go directly to the principal of the loan, rather than the interest. Be sure your lender knows to put the extra toward principal, and not the next month’s payment. Even an extra $50 per month can quickly build equity, as well as knock years off of your loan. The third way to build equity into your house is to make improvements. There are a variety of ways to remodel and make positive changes to the interior and exterior of your home. One of the best ways is to add square footage/living space.