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The former Communist regime of Montenegro prohibited owning private property, but records were kept from before this tricky era making restitution of land to the original owners easier in Montenegro than in some of its Eastern European neighbours. However, in a few cases the establishment of land ownership still proves to be difficult. The purchase of residential property by foreigners in Montenegro is not restricted providing the buyers’ country of origin holds a reciprocal arrangement with Serbia and Montenegro. The UK and Ireland hold this agreement. Property transactions are regulated by law and legally secure. Investors wishing to purchase land for development must operate through a company registered in Montenegro. The country has a comprehensive master plan for developments and construction, including ‘change of use’. Your lawyer should make sure your potential off plan investment falls within these strict guidelines which ultimately will also protect your investment from inappropriate developments being built nearby. Unfortunately for the time being mortgages are unavailable.
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