When you buy a real estate as a foreigner in Montenegro, the government offers you a way to get residence permit in the country. So, you can stay your own property without worrying about your residency permit.
The law that determines the accommodation conditions for foreigners is published by The Ministry of Internal Affairs. This law features multiple ways for foreigners to get a residence permit. But based on Article 36 of this law, foreigners who buy a property in the country are also eligible for a residence permit.
Residence Permit Through Buying Real Estate in Montenegro
In Montenegro, the government determines if you are eligible for to residence permit based on Article 37 of the law that we mentioned earlier. This article contains the requirements you need to meet and the documents you need to provide.
To show that you bought a property in the country, you need to show a Certificate of Title regarding your ownership. This certificate will prove your eligibility for a residence permit through property ownership.
While similar practices to provide foreigners who buy real estate in the country is common in many other countries as well, there is often a minimum limit for the property value you need to meet in order to be eligible for this method. However, Montenegro is different in this aspect. Because there is no minimum limit for eligible properties here. Essentially, you can get a residence permit by buying the cheapest house or apartment you can find too. This helps people you want to have a home here but has a limited budget.
After you buy a property in the country, in order to apply for the residence permit, you will gather some fundamental documents too. Besides the Certification of Title, you will need to send documents that will show your health insurance details, your subsistence and livelihood mean, and of course your passport. Also, you will be required to provide your criminal record as well, which the country will use to ensure that you do not present a danger for the national security.
The easiest way to benefit this method of getting a residence permit after a property purchase is to work with a real estate agent who is knowledgeable about this subject. If you are planning to get this permit this way, be sure that you asked your real estate agent when you contact them before taking more steps about their knowledge and ability for helping you with it.