Division of www.OverseasRegistry.com

Montenegro

Montenegro
	Capital	Podgorica
	Population	672,180
	Area	13,812 sq km
	Language	Montenegrin
	Currency	Euro (EUR)
		1.000000€ (EUR) = 1.340502$ (USD)

One of the newest countries in the world, Montenegro is slowly gaining steam as one of the hottest tourist destinations in Eastern Europe. Declaring its independence from Serbia in May of 2006, Montenegro is now a sovereign nation, member of the United Nations and currently in the process of gaining membership into the European Union. This makes it a great time to buy while the real estate market is still in its infancy.

Montenegro has clean, fresh air and wild intoxicating beauty that has not gone unnoticed by other European travelers who have dubbed it the “Pearl of the Mediterranean.” Montenegro is one of Europe’s oldest states, filled with winding cobblestone streets full of Balkan history just waiting for you to explore.

Top 3 Places to Live and Invest

Now is a great time to invest in Montenegro as prices and property values in the last few years keep increasing. From a tourist perspective it’s a great European location and the tourism industry is just starting to boom. For foreigners, it’s easy to purchase property in Montenegro and as a self-proclaimed ecological state, the beauty of the mountains, beaches and forests will speak for themselves come re-sell time. Below are three great places to live and invest in Montenegro.

Zabljakis located in the center of the Durmitor Mountains, making it the city with the highest altitude in the Balkans. The skiing center of Montenegro, a large mountain house with a picturesque view is on offer at $190,000 and plots of land start at $50,000.

Sveti Stefan (Budva) is the proverbial Mecca for tourists in Montenegro due to its large number of beaches, bay islands and historic monuments. The Budva coast is 13 miles long and filled with 17 beaches. Needless to say this is not the cheapest area in Montenegro to buy real estate, but there are some good deals to be had. A small apartment in the center of town goes for $85,000 and a two-year old, 2-bedroom apartment with a sea-view start at around $350,000.

Boka Kotorska (Bay of Kotor) is a UNESCO World Heritage site and has earned this prestigious title by its beautiful towns in the four bays. One-bedroom apartments overlooking the bay start at $40,000. Bigger apartments further from the waters edge start at $60,000 and a 4-bedroom mountain villa is on offer for $310,000.
 
Health and Senior Benefits

Getting your own private health insurance before moving to Montenegro is a must since foreigners are not allowed access to the domestic national healthcare system unless working locally and making national insurance contributions. There are an increasing number of private clinics in Montenegro and many doctors speak English and are educated overseas. Health care is generally of a high standard in Montenegro (but still under American standards) and there are many private, well-stocked pharmacies that sell most major medicines. Ambulances are very few in number and usually reserved for only the most severe cases, so be prepared to find your own transportation to the hospital for minor emergencies. 

The Montenegrin government does not currently offer any senior benefits or incentives. The visa process for moving to Montenegro has changed many times since this small nation became independent in 2006. Currently they offer Long Stay and Short Stay visas depending on the length of time you plan on staying in Montenegro. It is unclear if a tourist or short stay visa can be renewed more than once.
 
Safety and Infrastructure

Montenegro is relatively safe for expats. Violent crime is very rare and most crimes are robberies and petty thefts. The Montenegrin police have English-speaking staff available to take police reports; so don’t let the language barrier be a reason for not reporting crimes. Threats against Americans are rare and even during the occasional political demonstration there is a very low level of violence. Public transportation is older and not very well maintained so exercise caution when using buses and trains.

Roads in Montenegro are often poorly maintained, especially those in rural areas. Roads leading to the coastal regions of Montenegro are in much better conditions. As part of Montenegro’s perpetual “diamond in the rough” persona, water and electricity supplies can be unreliable in the summer and telephone and Internet communication is also at times a bit unstable.
 
Culture and People

The young country of Montenegro has had its share of problems with its Slavic neighbors, stretching as far back as the 6th century. “Crna Gora or the black mountain” as Montenegro is locally known has a very distinct culture. The national language is Serbian, although English is not far behind. The term Montenegrins denotes both the nation and ethnic group of South Salvic people. The two major ethnic groups are Montenegrins and Serbs, although many censuses have shown difference in how Montenegrins identify themselves. Some say they are Montenegrin Serbs, others just Serbs and since independence the name preferences have changed almost every census.

Montenegro prides itself on being a country with religious freedom and equality. The population is divided into Orthodox, Islamic and Christian religions. Friendly, hard-working and fiercely independent people, Montenegrins are welcoming of foreigners and all they bring to their new country.
 
Average Monthly Budget for a Couple in Budva, Montenegro

Rent for a 2-bedroom apartment in a nice part of town: $600
Daily maid service (Monday-Friday, 8 hours, cook and clean): $300
ADSL Internet: $30
Telephone (1 landline, 2 cell phones): $50
Cable TV: $35
Water: $10
Electricity: $30
Gas: $10
Private Health Insurance: $200
Food: $350
Transportation (2 taxi rides a day, averaging $4 a ride): $240
Total: $1855 monthly cost