Montenegro
Montenegro is a small European state
located on the Balkan peninsula overlooking the Adriatic Sea.
With an area of 13.450Km2 and 628,000 inhabitants,
Montenegro has a very low population density
and ranks 168th in the world list.
It's slightly smaller than Connecticut
but has almost six times fewer inhabitants.
The population is 37.9% Orthodox, 19.1% Muslim,
3.4% Roman Catholic, 5.4% other.
After the fall of former Yugoslavia, the Republic of Montenegro was united with the Republic of Serbia
under the name of Serbia and Montenegro,
since 2006 it has become an independent state.
It is a member of the UN and of NATO since 2017.
Montenegro is a parliamentary republic.
Although not part of the European Union, since 2002
Montenegro has adopted the Euro as its official currency.
The capital is Podgorica with 190,000 inhabitants located in the southern inland 40km from the coast.
Is Montenegro safe?
Taxation.
Residents are taxed on their worldwide income.
An individual is considered resident in Montenegro
if he has a place of residence there, a habitual abode,
a center of vital interests,
or he stays in the country for more than 183 days in a year.
Married couples are taxed separately.
Income tax is levied on the following:
All forms of income, if not taxed at source,
they are generally aggregated and taxed at a flat rate of 9%.
Income from employment earned by resident individuals is subject to income tax at progressive rates, from 9% to 11%.
located on the Balkan peninsula overlooking the Adriatic Sea.
With an area of 13.450Km2 and 628,000 inhabitants,
Montenegro has a very low population density
and ranks 168th in the world list.
It's slightly smaller than Connecticut
but has almost six times fewer inhabitants.
The population is 37.9% Orthodox, 19.1% Muslim,
3.4% Roman Catholic, 5.4% other.
After the fall of former Yugoslavia, the Republic of Montenegro was united with the Republic of Serbia
under the name of Serbia and Montenegro,
since 2006 it has become an independent state.
It is a member of the UN and of NATO since 2017.
Montenegro is a parliamentary republic.
Although not part of the European Union, since 2002
Montenegro has adopted the Euro as its official currency.
The capital is Podgorica with 190,000 inhabitants located in the southern inland 40km from the coast.
Is Montenegro safe?
OVERALL RISK : LOW
Overall, Montenegro is a safe country to visit.
Its crime rate is fairly low and as a tourist, you should only be worried about petty theft in destinations frequented by tourists. Otherwise, Montenegrin people are very warm and friendly.
https://www.travelsafe-abroad.com/montenegro/Taxation.
Residents are taxed on their worldwide income.
An individual is considered resident in Montenegro
if he has a place of residence there, a habitual abode,
a center of vital interests,
or he stays in the country for more than 183 days in a year.
Married couples are taxed separately.
Income tax is levied on the following:
(1) employment income,
(2) business and professional income,
(3) investment income (dividends, interest, and royalties),
(4) income from immovable property.
All forms of income, unless taxed at source, are generally aggregated and taxed at a flat rate of 9%.
Income from employment earned by resident individuals is subject to income tax at progressive rates, from 9% to 11%.
All forms of income, if not taxed at source,
they are generally aggregated and taxed at a flat rate of 9%.
Income from employment earned by resident individuals is subject to income tax at progressive rates, from 9% to 11%.
ANNUAL INCOME TAX ON INCOME FROM EMPLOYMENT | |
| TAXABLE INCOME, € | |
| Up to €9,000 | 9% |
| Over €9,000 | 11% |
| Source: Global Property Guide | |
Income and capital gains earned by companies
are taxed at a flat rate of 9%.
Income-generating expenses and operating expenses
are deductible when computing for the taxable income.
Income from leasing out real estate property is included in aggregated taxable income and taxed at a flat rate of 9%. Costs incurred to generate income are deductible from the gross rent. A lump-sum deduction of 40% of the gross rent in lieu of actual itemized costs is also allowed.
Capital gains realized from sale of real property
in Montenegro are taxed at a flat rate of 9%.
Taxable capital gains are calculated by deducting
the following from the selling price:
acquisition costs and related expenses,
and improvement costs.
The title transfer tax charged to the buyer is 3%.
A property tax is levied on real estate property
in Montenegro.
The owner of the property, or the individual with rights to use the property, is liable to pay this tax. The tax is levied on the market value of the property at rates ranging from 0.1% to 1%. In some cases, property tax may be levied up to 5.5%.
There are no restrictions for foreigners
on the purchase of real estate.
Houses, villas and apartments
can be named after non-resident physical persons,
but the purchase of land can only be done
through the establishment of a locally domiciled company
but after the construction of one or more buildings
the title of ownership can be transferred to one's own name.
https://www.globalpropertyguide.com/Europe/Montenegro/Living-There
Inheritance tax 3%.
21% VAT, in neighboring Croatia is 25%.
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Montenegro has a very varied but mostly mountainous landscape. The coast on the western side has a Mediterranean climate
with dry and hot summers and mild but rainy winters.
The mountains also characterize the coast
which extends for 293km of which only 52km are beaches.
To the east, inland, plains and plateaus alternate with a continental climate with cold, rainy winters and torrid summers.
In the high mountain areas, the climate is sub-alpine,
with abundant winter snowfalls.
In general, the landscape is very reminiscent of Norway,
in Montenegro there is the only fjord in the whole Mediterranean, Boka bay.
At the following links,
a video introduction to the beautiful landscapes of Montenegro
Since the construction and opening in 2009 of "Porto Montenegro",
a project by Canadian billionaire Frank Stronach
with the support of LVMH president and Lord Rothschild,
a marina with 650 berths
of which 25% are dedicated to super and mega yachts up to 150m
and related real estate project,
tourism and the real estate market have boomed.
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Here below are some videos on the real estate market
in Montenegro.
Tour of cheap land for sale in Montenegro
Luxury property tour on Montenegro's coast.
Real estate investment in Montenegro
In Montenegro the average value of real estate
is around € 1,100 per square meter
although in the case of luxury projects like the Lustica Bay
prices can reach and exceed € 7,000.
https://foreignbuyerswatch.com/2019/05/14/montenegro-property-prices/
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The average occupancy rate of 4* hotels is 42 - 44%
while 5* is 49 - 51%.
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By 2030, 180,000 people will live in the coastal municipalities, there will be 230,000 beds, and the number of overnight stays would be over 24 million, which is two times more than now.
This is stated in the Draft of Innovative Spatial Planning of Special Purpose for the Coastal Area, which is in a public hearing.
As stated, this would mean that if the planned concept is consistently realized, the total gross domestic income, compared to the 2011 census results, would increase more than four times, the number of overnight stays more than three times, unemployment would be reduced to a minimum, and the income per citizen would be more than four times higher.
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Tourist arrivals in Montenegro show growth in the last ten years.
The trend of domestic arrivals has been slightly stagnant,
while international arrivals were booming.
With 69%, international tourism arrivals
grew between 2006 and 2014.
The strongest growth in international arrivals
was from 2010 to 2011.
Arrivals increased by 10%, or 113,305.
In 2014, Montenegro was visited by 1,350,297 foreigners
tourist and 167,079 Montenegrins.
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Useful links
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Montenegro videos
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