The Montenegrin government has approved the Bill on Foreigners, which allows property owners to obtain a residence permit, reports ee24.ru citing gov.me.
At the meeting on 31 July, the Government of the young country, which gained independence eight years ago, has approved the Bill that for the first time comprehensively regulates the stay of foreigners in the territory of Montenegro.
Interior Minister Abid Crnovršanin noted that the law would result in increase of investment in real estate in Montenegro. Previously, the owners could not stay in the country for more than 90 days: they had to travel to neighboring countries and then go back to Montenegro. Now the owners of property in Montenegro will receive a residence permit for up to 1 year, with a possibility of extension every year as long as the real estate remains in the property.
The good news is also for those who are going to work in Montenegro: such property owners will receive a residence permit and a work permit as a single document - ID with biometric data.
"The law was approved and it means that it will come into force. Perhaps from the beginning of 2015, or from the date of publication in the Service bulletin of Montenegro. In the latter case it may come into force in the beginning of autumn 2014. Now we have to wait a bit for further details. Probably there will be installed a minimum amount of the value of property, which gives a right to obtain a residence permit. Anyway, the law significantly simplifies the procedure for obtaining a residence permit valid for one year," Anton Shamarin, managing partner at real estate and investment consulting company Value.One (Montenegro), told the ee24.com.
Portal ee24.com was one of the first to follow the fate of the Bill and we'll continue to acquaint our readers with further changes in the rules of issuing a residence permit in Montenegro.
Read also:
Timeline of issuing residence permits for housing purchase in Montenegro