Opening a bank account

• While transaction settlements are usually not made in cash, direct payment is also possible. Money can be transferred from an account in one’s home country or from an account in a Montenegrin bank.

Preliminary agreement

• After selecting the property and agreeing on all payment terms, the buyer signs a preliminary contract and makes a reservation fee of 10% of the value of the property.

Conclusion of the purchase and sale contract

• The signing of both the preliminary and final agreement is to take place only on the territory of Montenegro, in the presence of both parties or their representatives by proxy. Signatures are certified by the official seal of the notary public.

State registration of the transaction

• After the final settlement, the notary public submits an application for the new owner to be added to the inventory register, after which the buyer is issued with the Cadastre Decision and the certificate of ownership.