According to current immigration policy, real estate ownership does not automatically lead to obtaining long-term residential permit in Montenegro.
There are two grounds for getting a residential permit in Montenegro (an authorization for uninterrupted stay on the country’s territory for a term of 1 year):
- Registration of a company or buying a going concern business in Montenegro
- Signing an employment contract with a local company
For a foreigner registering a company in Montenegro a residential permit (so-called “boravak”) is issued by the local police station for a term of 1-year and could be prolonged each consecutive year. After 5 years of residential permit prolongation, a foreigner may apply for long-term residence for 3 and then for 5 years.