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Retiring in Montenegro – Top 5 Reasons for Making Your Move

Retiring in Montenegro – Top 5 Reasons for Making Your Move


You’ve worked long and hard so now you deserve to retire in style! Have you considered Montenegro, if not then why not? It’s become one of the most popular places to visit in recent years, has highly favourable living conditions, is pushing for full EU membership, has low tax and cost of living rates, a competitive real estate market & a gorgeous landscape with a rich cultural history. Who wouldn’t want to be a part of that?

Here’s five reasons why Montenegro could be the perfect place for you:

Highly Favourable Living Conditions

Thanks largely to a rise in tourism over the last few years along with a massive push on economic stability the standard of living in Montenegro is just as high as many other European countries, and this will only continue to grow as foreign investment increases. Many countries such as Germany, the UAE, America, Austria and the Netherlands have decided to back projects with net foreign direct investment contributing a total of 623 million USD in the first three quarters of 2022, which is around a 70% increase on the same period of 2021. Main areas include Tourism, Real Estate, Energy, Telecoms, Infrastructure and Banking which have all received and will continue to receive significant interest.

The climate is also a big draw here, as it gets warm without getting overly excessive, reaching temperatures of around 27 degrees in the high summer and lows of around 4 to 11 degrees in the Winter.

Full EU Membership

Montenegro has long been pushing for EU ascendancy, and although they aren’t fully fledged members yet, they have started the process, especially as the Euro has been adopted as the official currency. Of course, this greatly eases the process for tourists and expats, as many will be familiar with the Euro already, especially those currently residing in Europe.

Along with the passport benefits (which will come as a result of joining the EU & the additional country access it will grant visa free) there will also be a huge uplift in trade, financial assistance, and support for development and on-going reforms.

Of course, there’s still a lot of work to do, but it does enjoy widespread support for it’s bid by other EU member states + there is a healthy amount of support for EU ascension from it’s citizens, many of whom will benefit greatly from new laws and treaties.

Low Tax & Cost of Living Rates

Montenegro has long been considered a ‘tax haven’ and attracts many foreign nationals to it’s shores because of it’s highly favourable tax conditions. Property purchase tax is between 0%-3% depending on who you buy the property from, Corporate and Personal Tax rates are between 9% and 15%, Capital Gains tax is also 9% and Inheritance and Pension tax rate is currently set to 0%. It also has in place double taxation treaties with many countries, so you won’t get taxed twice.

By European standards the cost of living in Montenegro is also relatively low with estimated monthly expenses set to be around €450 for a single person or €1500 for a family of four. This would probably equate to around 43% lower than the UK (probably more now given the situation there and the increase in rates). Rental prices are also significantly cheaper along with property sales prices, and you’ll also save on food, fuel and other commodities, especially utilities which can cost on average €110 per month. Notably, whilst it is cheaper, they don’t sacrifice on the quality, which is consistently high.

A Competitive Real Estate Market

If there’s one thing that foreign investment and tourism has done for Montenegro, it’s bought significant improvements in the Real Estate Market, with new developments being released onto the market almost daily, comprising of apartments, family complexes, resorts and villas. You’ll find loads of options on offer here and in some of the best places, including the likes of Budva, Bar, Kotor, Tivat and Ulcinj.

Whether you want something in the coastal areas, or in the more rural areas, there really is something for everyone, with all budgets catered for. A growing trend in Montenegro, is also to snap up a land plot and build your own home, complete with amazing views!

Much like anywhere else property prices will vary, and of course if you want to be in a more affluent neighbourhood you’ll pay for the privilege of doing so, however, it’s a fact in Montenegro, that many of the new builds you’ll find now will offer the luxury without the big price tag. As demand for Real Estate continues to grow here, if you do end up buying at the right time, it could be worth a small fortune in the years ahead. Another key point of buying here, is that as a foreigner it’s not that difficult as long as you stick with the official channels and choose a reputable Estate Agent like CMM Montenegro to help you.

A Gorgeous Landscape & Rich Cultural History

Montenegro is simply one of the most beautiful countries in the World with plenty of journalists and media outlets that will back up that statement. Kotor, for example, is on the UNESCO World Heritage list plus it’s Bay offers stunning views of the surrounding mountains and the Adriatic Sea. Steeped in History with Italian and Greek influences you’ve got the old town fortifications, the old town itself with it’s beautiful Cathedral, the many churches and of course the ‘Our Lady of the Rocks’ just off the coast of Perast.

On top of that, you’ve got the Ostrog Monastery, the Lipa Cave, Budva Old Town and Citadel, Sveti Stefan Island as well as all the National Parks at Lovcen, Durmitor and Biogradska. Don’t forget there’s also Lake Skadar along with the Black Lake, Piva Lake, Sas Lake and Bukumirsko.

Festivals also take place at several times throughout the year which really are a must see, including the Venetian style balls, concerts, performances and parades in Kotor, Tivat & Budva, along with the more modern Spring Break Festival at Kamenovo. The most popular festival is of course Boka Night in Kotor, with the boats sailing along the waterfront, and a huge open air concert near the old town.

Further Information

To be honest, it doesn’t just end there, and there’s plenty more reasons as to why you should consider Retiring in Montenegro. If you want further information, CMM Group Montenegro would love to help, please do contact us & we hope to see you here soon!

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  • In period May-August 2022 we sold our flats in St-Petersburg Russia and  have bought two  ones here in Montenegro, Becici. We decided to move here and make new home and business with my husband. Our agent Milica Zugic  is really became our angel - provider here in Montenegro. She is very reliable, responsible , professional  employee of CMM Budva department. She has developed intuition and found very fast necessary properties which we needed. Also she helped us to speed up the process of registration documents in MUP.( list nepokretnosti, etc). She was our real provider here. Very appreciated her and all staff of Budva department for there assistance. Separately to lawyer Ivan and his legal team. Very recommended choose Milica Zugic as real estate manager when you search for assistant in this complicated and important field as buying property in Montenegro.

    Liudmila Nosova St-Petersburg Russia , 13.09.2022 11:20:09

  • At the beginning of April 2022, our family living in Prague bought a house in Sutomore with the assistance of your company.
    Let me express my gratitude to the management of your company for the service provided, and especially to your employees - Anastasia Zeyak, Alexei Grachev and Elena Bozhovich for their attention, patience and even care for the whole time of buying real estate and the services provided after the purchase.
    I would really like all companies to work with the same quality of service. After coming into contact with this kind of attitude towards the client, all our environment, if necessary, will refer to your company only.
    With gratitude on behalf of our family.

    A.V. Ter-Gazaryan, 12.07.2022 12:32:19

  • Based on my experience with CMM in Budva, Montenegro, I can say that they are reliable, fast, and they deliver what they promise. They take really good care of their clients. For instance, I was offered a lift from the airport, and they would take me back and forth from Tivat to Budva and Becici to see various properties. They would answer all of my questions and respond promptly. They have an excellent team: Katarina, Alexander, Natasha, Martin and some other guys whose names I don’t remember. Katarina, my wonderful agent, went to every length to help me find a perfect home. Unfortunately, my situation changed and I had to postpone my relocation to Montenegro.
    I would strongly recommend this company to anyone who is looking for a property in Montenegro.

    Val , 13.05.2022 04:18:13

  • We were introduced to CMM by friends who had already done research on Montenegro and CMM. We purchased our apartment in Dobrota, just outside Kotor, all remotely from South Africa, during the lockdown. Everything was seamless without any problems at all. All the CMM departments work together well from the sales team, head office, legal, interior design and rental department. Every detail was well communicated with an abundance of zoom meetings, videos, emails etc
    We are thrilled with the outcome and enjoyed working with the CMM team. They were incredibly professional.
    After sales service is also excellent as we move into the rental phase of the apartment and over all management of the apartment including maintenance.
    We have been directly and indirectly involved with many houses/apartments all over the world and this was the up there with the best service we have received.
    Thanks to everyone we dealt with at CMM it has been an absolute pleasure dealing with you all. We look forward too many happy years working with you on our rental.

    Mandy and Antoine, 06.10.2021 10:56:22

  • Biz Montenegroda CMM komandayla  tanish olmushug. Snejana ve Milan bize cox  yaxshi destek olublar. Artig bizim burada evimiz de var. Bize gosterdiler cox yuksek service, ve artig butun bizim senedler de gaydasindadir. Boyuk hormetle onlara Cox sagol bildiririk!

    Dilara, 01.10.2019 08:17:27

  • Last year we decided to find a new home close to the sea. It was quite difficult in the beginning to make the right choice. Once we found CMM Company was a great luck! We immediately received detailed consultation on the country and purchase opportunities. Being attracted by Kotor - one of the most amazing parts of the coast, we decided to take a family trip and maybe make our dream of new home come true. As just discoverers of Montenegro, we were accepted like at home which was a one more pleasant surprise. The most important, we received all detailed information about country regions and procedure of buying property during the first few days. And how beautiful the car journeys were! Difficult choice, but when you find the home you want you can't refuse it. CMM did best to help us with this finding! All the purchase procedure passed well with CMM professional work! Now we are happy owners of a wonderful house with a Kotor bay view, being perfectly served by CMM Management company (of course, we've chosen CMM as professional house manager). Hope our friends and relatives would also move to Montenegro with the CMM help soon !!!

    Kate, 22.03.2019 13:06:21

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