New restrictions on property purchases for foreigners
26.06.2008
The Montenegrin government initiated the proposal of a new law which limits the rights of foreigners buying real estate in the country. According to the new law, foreigners can buy only 5 percent of the remaining unsold real estate in the country, Montenegro Times reports. The law also states that citizens of other countries will not be permitted to own any of Montenegro’s natural treasures, agricultural regions, forests and cultural monuments. Currently, Montenegro’s real estate regulations are fairly liberal, allowing foreigners to purchase and own land, houses and other real estate if they do so through a company registered in the country.