Set Up a Real Estate Business in Montenegro
Set Up a Real Estate Business in MontenegroUpdated on Saturday 08th December 2018
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Montenegro is a very sought investment destination among European countries. One of the most appealing investment sectors is the Montenegrin real estate sector because of the low prices compared to other European countries.
Foreign entrepreneurs are welcome to start businesses in the real estate sector, however, they must comply with the Montenegro legislation in this industry. Our lawyers in Montenegro explain the procedure for opening a business in real estate in this country.
Legislation applicable in the real estate industry in Montenegro
Both local and foreign entrepreneurs who want to set up companies for real estate activities in Montenegro must comply with the following laws:
- - the Law on Obligations, also known as the Contract Law in Montenegro;
- - the Montenegro Property Relations Act and the State-Owned Property Law;
- - the Land Registry Law and the State Land Survey Act of Montenegro;
- - the Housing and Maintenance of Residential Buildings Law in Montenegro.
Companies in the construction sector must also comply with the construction norms applicable in this country.
Registering a real estate business in Montenegro
No matter the type of activities the company will offer, the registration of a business form is mandatory in order to operate in the real estate sector in Montenegro. This implies choosing a legal structure, registering it with the Companies Registrar and applying for certain business licenses, depending on the activities to be completed.
Our law firm in Montenegro can guide foreigners who open companies for real estate activities.
Activities in the real estate sector in Montenegro
The following activities can be completed by a real estate business in Montenegro:
- - activities related to the sale and rental of residential and commercial buildings;
- - activities related to the construction of residential and commercial buildings;
- - real estate due diligence procedures and searches with the Land Register;
- - legal services related to litigation in real estate-related cases.
Foreign investors should know that they can be imposed with certain restrictions related to owning land plots in Montenegro.
For assistance in starting a business for real estate activities, please contact our Montenegro lawyers.