Montenegro Residency Explained 2021 - Part 1 - Residency through Property Ownership
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- เผยแพร่เมื่อ 1 ก.ค. 2024
- Residency in Montenegro can be a confusing subject. Today we have an overview of the various types of Residency available in Montenegro in 2021: Residency by Property Ownership, Residency by having a business in Montenegro and Citizenship by Investment (CBI) in Montenegro.
I'm joined by Julie Karagod from Balkan Expert Consultancy and in this episode, we discuss the pros and cons of applying for residency by buying property. After watching this short series of videos, you should be able to understand much better the type of residency that would be best for you.
#Montenegro
#MontenegroRealEstate
#CitizenshipbyInvestment
You can Contact Peter Flynn
Email: sales@ntRealty.me
Web: www.rightmove.co.uk/overseas-...
Tivat Office: +382 (0)32 662424
Mobile (En): +382 (0)67 268805 (WhatsApp, Viber and Telegram)
Mobile (En,Mne) +382 (0)67 286525
You can contact Julie Karagod
BalkanExpert - IMMIGRATION & BUSINESS SUPPORT MONTENEGRO
tel.:+382 68 023 982 (Telegram&viber)
tel.:+7 926 533 83 55 (WhatsApp&Telegram)
e-mail:mneconsult@gmail.com
web-site: mneconsult.ru/
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If you would like to find out more about our property for sale in the Tivat Bay, Kotor Bay, Herceg Novi and Lustica Peninsula areas, please contact us today:
Email: sales@ntRealty.me
Web: www.ntRealty.me
Tivat Office: +382 (0)32 662424
Mobile (En): +382 (0)67 268805 WhatsApp, Viber and Telegram
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Skype 1: newterritory4u
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Great to get together with Juile to make this first video on Residency in Montenegro. More to come.
Peter, thank you for inviting me. And for your brilliant idea to make the videos about residency
@@balkanexpert.9776 hi. Can I have you’re contact email or WhatsApp?
@@salmanahmed7861 there are at the description to the video
awesome video thank you both very much
@@mercy2409 our pleasure. Glad you found it useful.
Beautifully shared
Julie looking great with the Glasses "
really useful to hear it explained so simply Peter. Really looking forward to the next one.
Thank you:)
Thanks for giving more information on the visas, really things that are important but not easy to find
Thanks. We didn't touch on Visas, it's a separate question for those who need it. Most countries, though, have Visa free entry to Montenegro.
I cannot wait to move to montenegro! Very helpful video. I'll be there in October
Looking forward to meeting you.
great chat with Julie. Nice location!
Thank you. It really is a great location. A hot day and we were melting so I’m glad we didn’t have to go for a 3rd take.
Sir, Thanks for this useful video. Kindly make the 2nd, 3rd & 4th parts of it, especially making company in Montenegro.
Very useful details … thank you
Thank you.
Great info. Thanks
Thank you for your comment
Thank you! 🤓
Thanks for the comment.
Wonderful video ❤️
Thank you.
Thanks for the great video. Do you have to submit a stamped criminal record check for each application of your yearly residence visa? Or will they just keep the old one on file?
You need to have the criminal record check for the first application. For renewal not. In case if you apply every year as it is a fisrt time (not renew), you need to have this paper for every application
I didn’t get that.
So if you own a property can you immediately apply site king term residency or yearly?
If I move to Montenegro fully retired and not making an income the only tax I will have to pay per year is my property tax correct ?
And do the banks charge you a monthly fee for having an account ? I saved your information as I plan on moving to either Montenegro or Serbia in 25 months precisely. Thank you
Hi very informative video.What is the minimum one needs to spend to purchase a 2 bedroom flat in Montenegro? I know it might differ by area but what could be the minimum one is looking at?
Not sure if you say the next video this Julie and I. But in general 11 months but can be extended to 10 or even 9 months with an average of 10 months minimum over 5 years. This is for residency through property ownership or owning a business. Find the other video for more information.
What about for job contracting services,
Job contracting and company limited are two distinct and separate things.
Imagine I come there by investment 'buying a property ' then I want to work in my own business, the question is, I am able to work?? Thank you
This was helpful, thank you! What if you don't want residency but would like to purchase a property & possibly spend 4 or 5 months there - would you need a Visa, or what would be the procedure?
You can stay only 90 days in half a year. In case if want to stay morw than 90 days (for instance from May to October), you have to apply for a res.permit. No any other way exists
Short stay visa (C) may be issued for one, two or multiple entries into Montenegro for tourist, business, personal or other purposes. Continuous stay or total duration of consecutive stays may not exceed 90 days in the period of 6 months, counting from the date of first entry. Validity period of Visa C for multiple entries is up to one year. Exceptionally this type of visa may be issued for a longer period of validity, but no longer than five year. Short stay visa may be issued to a group of foreigners (collective visa). The validity period of collective visa cannot exceed 30 days and it may be affixed to a group passport.
Long stay visa (D) may be issued to an foreigner for one, two or multiple entries into Montenegro, intending to stay in the territory of Montenegro over 90 days, but no longer than 6 months in the period of one year, counting from the date of first entry. This type of visa may be granted to a foreigner:
- intending to stay in Montenegro in order to perform business or other activities, provide advisory expert activities as agreed by the Agreement on business and technical cooperation, on a long-term production cooperation, and on transfer technologies and foreign investments;
- coming to serve to Montenegro as a member of foreign diplomatic and consular representative office to Montenegro or an international organizations accredited to Montenegro, member of economic and cultural representative office, as well as to the members of his family, i.e. members of his household holding diplomatic or official passports.
In certain cases, a permission for temporary residence in Montenegro may be considered a long stay visa, which may be granted to a foreigner intending to stay longer than 90 days in Montenegro, for the purpose of:
1) employment and work, performing economic or business activity;
2) seasonal work;
3) secondary education and studies
4) participation in student exchange programmes or other youth programmes;
5) specialisation or professional training and acquisition of practical skills;
6) scientific-research work;
7) medical treatment;
8) family reunification;
9) humanitarian reasons;
10) other justified reasons specified by law or international agreement
@@MontenegroRealEstate Thank you, that's helpful!
I’m excited to learn about this beautiful place. Does foreigner need to pay property in full or financing option is possible?
Finance is extremely rare. Most buyers are cash buyers or raising finance in their home country.
Hi, thanks for the informative video, i plan to visit Herceg Novi next month to view some properties. I am from the UK and have a valid DBS Certificate that was issued 4 months ago. Would this be of the correct type or does it need to be more recent, i know in the UK that companies/employers etc can view these checks online is that what they do?
Hi
Thanks for the comment.
You can contact Julie about those specific details. Her contact information is in the video description.
Hi
Thanks for the comment.
You can contact Julie about those specific details. Her contact information is in the video description.
Hi. Is the Balkan Consulting website or info available in English? I only see Russian.
No idea! But you can call Julie directly.
It's very similar to your sibling Serbian's immigration law. MN is perhaps more interesting, but Serbia has got perhaps more legacy from the former Yugoslavia
All ex Yu countries have similar legislation more or less.
All depends on your preference.
Did I understand correctly that I need to set up a Montenegrin bank account with the 3650 EUR? If so, do I go to the bank and set it up easily there?
Thanks
In general, you will apply for residency with 1 of 2 main options: owning a property or having a business. Once you have established a company or have a residential property in your name (minimum 50% ownership) then you can take the ownership paper to the bank and set up your account. In some cases, a bank will allow you to set up an account with the purchase contract. Then along with your passport, a bank account is easy to set up and then you can transfer or deposit the minimum funds to progress your residency application.
Thanks for the useful info, just to make it clear for me. If a property owner does not plan to get the PR, what’s the absence restriction in a year? Is there any at all? Can the owner only stay 1 month per year and still renew the residency yearly?
Thanks for the questions. From my understanding, yes you can repeat your application for the annually renewable residency. This would achieve permanent residency after 5 years of qualifying residence in Montenegro as described in the video. If you go outside of the length of stay requirements, I believe that you start your journey of the 5 years to permanent residency from year 1 again. So, is applying for permanent residency the right thing for you. You can stay for up to 6 months in Montenegro on a Tourist Visa. Many homeowners use this option rather than PR when visiting their homes in Montenegro. For advice on the best option for you personally, I suggest that you contact Julie directly, her contact details are in the description.
Additionally, you may find that residency is not the right option for you. You can also take advantage of the 90 out of 180 days rule, whereby you can stay in Montenegro for up to 6 months. As the rule suggests, you’re allowed up to 90 days in this 180 day period and can of course do this twice. Out of interest, we’ve just released another video giving important updates on many aspects so may want to consider subscribing to our channel. Peter
Thank you Peter and Julie. Perhaps I missed it here - on another video with Julie I think I recall there is no minimum property value for residency? Is this true?
No minimum for residency. If you want Citizenship (Passport) by Investment then there’s a minimum investment of €250k + €100k donation to the government if buying in the North (mainly Kolasin) and €450k + €100k if investment on the coast.
@@MontenegroRealEstate Thank you Peter - love your content. You did very well on timing your move to Montenegro several years ago. By the looks of TH-cam activity I think I know your response ... but, do you see significant appreciation in the Kotor Bay development region over the next 5 years? I am also quite interested in the water-borne live aboard marina facilities of the region. Thank you again Peter! Cheers Mate!
@@mountaingoat6393 you probably correctly guessed that I see significant growth over the next 5 years and good growth for the following 5 years too. The momentum is so strong as more and more people discover, come and return to this little gem. If, at it looks, EU accession happens in 2025, then we will probably see significant rises in real estate values.
I heard we can buy property and yacht with bitcoin in Montenegro, would buy a home or a yacht with cryptocurrencies made me qualify for a residence permit?
Thank you very much if you answer this question.
There are properties in Montenegro that you can but with cryptocurrency. There are also yacht brokers that will accept crypto around the world, so regardless of where it's bought or registered, you can have a berth in Montenegro. Currently working with 1 client who has bought 1 property using crypto and is looking at buy a 2nd property. So, all doable. Residency can be given by property ownership. Currently, you cannot use crypto for Citizenship by Investment.
You can get temporary residence permit (TRP) by buying a property in ME but that TRP will not allow you to apply for Permanent residence permit even if you live consecutively for five years in ME.
I'm on my 2nd 5 year permanent residency permit. As long as you follow the rules, you can get permanent residency after 5 years of residency in Montenegro
@@MontenegroRealEstate was it based on property purchase alone? what were the rules that time when you applied? immi. rules change...they are not fixed.
I would like to residence..in this beutyful place...plz inform me..if any problam of..safty..security...or language problam..?? .and how much investment will be batter for citizenship...
Hi Rajesh
Thanks for your comment. The easiest way to get residency in Montenegro is by buying property. Anyone from any country apart from 3 in the world can buy in Montenegro and get residency. However, residency is one thing and Visa requirements are another, so you may need to check with the Montenegrin Embassy to see whether you can qualify for a visa to Montenegro.
You can also get Citizenship By Investment (CBI) but this requires a significant investment of circa $500K-750K+ in Government approved developments in Montenegro. This scheme ends 31st December 2021.
Montenegro is a peaceful, safe, secure country which has a low cost of living by European standards.
Where is Juile's contact info? Website or??? We have multiple homes and could never spend 9 months in a single country. Makes no sense.
Julie's info is as mentioned, in the description below. Sounds like CBI or opening a company I'd the route for you.
Hello. I am interested in getting information on some properties near Kotor bay area.
Looking for an investment apartment up to 2 bedrooms. Budget is 140KUSD. Thinking of
eventually moving to Montenegro.Thanks
HI Albert
Can you send me an email with your contact details to sales@ntrealty.me so we can start a dialogue. Peter
My important query is can i just buy a property, get it registered in my wife and my name as per law, then rent it out to an official renting agency and move away to my country of origin. I can visit Montenegro either once a month in a year or once in 2 years without the idea of obtaining permanent residency. The rental income that is generated, how much tax i need to pay annually to the government. Is this possible to do? please advise, thanks!
It is possible. You pay annualy tax for property posession (ask Peter for the sum ) as well as profit tax for renting
Tax is charged at 9% of 50% of the rental income, so if you take €10k pa, your taxes 9% of €5k.
Your annual property tax is usually calculated at 0.25% of the value per annum. Example, property value €100k, in general you'd pay €250 per annum. Terms vary in each Municipality, but this gives you a good general idea.
Is there any price value of the property need to purchase in order to get the residency?
Not currently. The property just needs to be residential.
If I live in Montenegro and work is it possible to get citizenship please give me honest opinion?
No.
But you can get residency. There are different levels of residency. I think we explained everything in this video or the previous one.
Is it possible to buy property with a Montenegro mortgage?
Yes, provided that you can provide evidence of a regular income. Usually LTV 50% and interest rates 6-7%
What’s changed for residency requirements in 2022?
The same as 2021. If there are some changes, we'll make an update video. Best to subscribe for the latest videos.
@@MontenegroRealEstate already subscribed 😂👋🏻🥳
How would I transfer money to a Montenegro bank?
It depends on where you're sending funds from, how much, to whom, reason for sending etc. We have clients sending funds from all around the world. If you like, you can give more details in our email in the video description.
@@MontenegroRealEstate Ok Thanks
Can we get 1st TRC on getring job. Thank you
Not sure what you mean by TRC
@@MontenegroRealEstate i mean first temporary residence card
@@ajmalkhattak8353 I don’t think so. You need to speak with an immigration specialist on this point. You can get residency based on property ownership or through owning a company.
@@MontenegroRealEstate thank you for your valuable time. I will check on this with immigration. Have a wonderfyll day. I miss europe summer. As im in dubai
Awesome place ! Where are you exactly Sir ?
We were at Portun Restaurant in Dobrota, Kotor Bay, Montenegro
@@MontenegroRealEstate wow 🤩 thanks for share your videos