Since its independence in 2006, this tiny mountainous country located in the South East of Europe and along the Adriatic Sea, attracts more and more travellers. Montenegro has been the winner for outstanding destination in the prestigious World Travel and Tourism Council´s Tourism for Tomorrow, for its beautiful and diversified nature, quality of life and historical, cultural treasures. Montenegro is today one of the most competitive countries in Europe, a stable and safe state which has created attractive conditions for investors to easy and quick business start-up with the minimum capital of 1€ for a LTD company.
The attractive tax system such as company profit tax of 9%, low property taxation and attractive plots prices and location, equal treatment with locals whereby very similar regulations applied for domestic and foreign investors, legal framework following the European standards, Euro currency, assets, including profits dividends and interests, are transferable all that and more make of Montenegro a hot-spot today as a country where to invest in. For foreign investors, there is no limit on the amount of capital invested.
Some success stories of upscale residential and touristic projects, such as the mega-yachts marina Porto Montenegro, Qatari Diar, Lustica Bay all in the region of Tivat, Dukley Gardens in Budva, and others in the pipeline are all realized by foreign investors. The German notarial system insures a well-organized property purchasing process which is coordinated by the local property consultant and investor’s lawyer hand-to-hand. Excepted “off-plans” and first registration of an ownership, the property transfer tax is 3% and the Notary service cost is quite low, the foreigner with the freehold ownership, the Ltd or foreign company is also allowed to own properties. By owning the property, one year of residency permit can be delivered on request; in general the local consultant can help.
Montenegro, is 2 hours flight time from the main capital of Europe, can be reach by three airports Tivat, Podgorica, and Dubrovnik in Croatia. Low-cost flights such as Ryan Air and Easyjet exist and the direct transportation connections are increasing.
While a picture tells a thousand words, check Lord Byron’s words in the early 19th century…
Article by; Leila Calic, Real Estate Consultant since 2007