Residence permit in Montenegro
Obtaining a residence permit is quite popular among many foreign investors, property owners, businessmen and freelancers. Foreign citizens who want to spend a long time during the year on the territory of Montenegro are also often interested in obtaining a residence permit or so-called “boravak” (Montenegrin).
Grounds for obtaining a residence permit
There are several reasons for obtaining a temporary residence permit in Montenegro.The main ones are:
- family reunion,
- real estate ownership
Temporary residence permit for property owners
Obtaining a residence permit in Montenegro on the basis of ownership of real estate became possible after the adoption of the “Law on Foreigners” back in 2015. According to this Law, real estate owners acquired the right to receive a temporary residence permit for up to 1 year, with the possibility of extension. This made it possible to stay in Montenegro for an unlimited amount of time during the year and made the purchase of real estate even more attractive
The minimum real estate price threshold for obtaining a residence permit in Montenegro
A residence permit in Montenegro could be obtained upon the property purchase without any price threshold for the acquired real estate. That is, unlike many countries with similar programs, a residence permit in Montenegro can be obtained by a buyer of real estate of any value, even the cheapest one
Property types approved for obtaining a residence permit
The list of real estate types, approved for obtaining a residence permit is quite wide, which gives additional flexibility to the buyer.
It includes the following types of real estate:
- single family houses,
- summer cottages,
- hospitality business facilities,
- mixed use buildings,
- commercial premises
Thus, you can get a residential permit in Montenegro by choosing any of the above.
Minimum ownership fraction for obtaining a residence permit
According to the latest version of the Law on Foreigners (of March 2019), owners of ½ or more shares of a property are entitled to a residence permit.
Permanent residence in Montenegro based on real estate ownership
A temporary residence permit for real estate gives the right to apply for a long-term residence permit (so-called “stalni boravak”) in Montenegro, after 5 years of uninterrupted stay in Montenegro from the date of the first residence permit.
At the same time, within 5 years, an applicant for permanent residence should not be absent from Montenegro for more than 6 months continuously, and no more than 10 months in total. An additional condition is also absence from Montenegro for no more than 1 month during each year. Otherwise, the temporary residence permit will not be extended at the end of the year, and, accordingly, the grounds for filing documents for permanent residence will not be fulfilled.
Real estate-based residence permit for a family
This procedure takes place in 2 stages: first, a residence permit for real estate is received by the owner / owners of real estate, and then their closest relatives (spouses and minor children) can receive a residence permit on the basis of family reunion.
Documents for obtaining temporary residence for property owners:
- Registration in the tourist office (to be done on the first day of arrival)
- Copy of the first page of passport (with foto). The passport must be valid for at least one year from the date of application.
- Copy of the property title deed (List Nepokretnosti) of not odler than 6 month prior to application.
- Health insurance policy (covering minimum 30 days from the application date)
- Proof of funds in the form of bank statement from a montenegrin bank of at least EUR 3,650 per person per year (EUR 10 per day)
- Proof that a foreigner has not any criminal record in his country of origin (for applicant of 16 year old and above)
- Proof that the application fee (EUR 5+40) for temporary residence is paid
All documents must be submitted and received in person.
Our company works with legal advisors that provide assistance in obtaining a residence permit to our clients – real estate buyers at favourable rates.