Idyllic Montenegro - the Latest Property Hotspot
An Adriatic Gem:
Located on the meeting point between Europe and Asia, Montenegro’s 295km of unique coastline is peppered with islands, secret coves and glistening ports. It’s mountainous backdrops reveal turquoise waters, ancient walls, secluded beaches and lush forests. Home to two UNESCO World Heritage Sites, this tiny European state is safeguarded by strict laws against over-development to preserve the local heritage and outstanding natural beauty.
An Enticing Destination
A Multicultural History
Thanks to its long and colourful history, Montenegro is a country of fascinating tradition, myth and archaeological treasures. Illyrian, Roman, Byzantine, Venetian and Ottoman cultural influences coalesce to create a historic tapestry that is particularly compelling in the country’s ancient coastal towns of the Boka Bay.
5 National Parks and 4 UNESCO World Heritage Sites, a diverse landscape and unique natural and cultural offerings make Montenegro one of the few remaining undiscovered countries in the heart of Europe.
Within the Bay lies the beautifully preserved town of Perast, once home to a Venetian fleet of 1,000 ships. A little further along is Kotor, one of the ancient jewels of the region with 4km of city walls.
Rich Naval Heritage
For centuries, the home of Porto Montenegro, the ‘Boka’ Bay as it is known locally, was a bustling harbour servicing Venetian merchant ships on their way east towards the Orient.
Europe on Your Doorstep
No more than a few hours from most major European cities, Montenegro’s central Mediterranean location is easily accessible by three international airports, directly connecting residents with London, Paris, Rome, Munich, Vienna, Moscow, Zurich and Warsaw, amongst other popular destinations.
Stable Democracy with an Open Economy
The last few years have seen Montenegro’s economic performance improve dramatically through the adoption of the Euro as the legal tender. Inflation is low at 3.6% whilst Real GDP growth has averaged 3.4% since 2004.
A Business-friendly Environment
Montenegro has one of the lowest corporate, personal and capital gains tax rates in Europe (9%), low entry barriers for new businesses and secure property rights. There is also a 0% tax1 on inheritance or free of charge transfers to immediate family members, with 3% tax on all other transfers.
Record Inflows of Foreign Investment
Overall economic activity has shown strong growth with the tourism industry as the major vehicle, creating €3.5 billion of Foreign Direct Investment. Elite tourism projects involve the likes of Aman Hotels and Resorts, Orascom of Switzerland, One&Only Resorts and SOCAR’s Azmont Investments.
Nautical Tourism Tax Incentives
Tax rates are currently at 7% for marine and tourism services. Tax and duty-free fuel is approximately 45% cheaper than in other European countries.
Major Spending in Infrastructure
International bodies such as the World Bank, the European Investment Bank and the EBRD are partnering with the Government of Montenegro and foreign engineering firms to enhance the country’s infrastructure.
KOTOR OLD TOWN
Nestled in the embrace of a rocky mountain landscape, this ancient jewel hides 4km of city walls, cobbled lanes and beautiful stone churches.
LOVCEN NATIONAL PARK
The home of Mt Lovćen, the black mountain that gave Montenegro its name, this stunning park enjoys views that stretch as far as Albania and Croatia.
A tomb of folklore and the final resting place of legends, this fairytale location has outstanding views over old Montenegro.
Set in a mountain wall, the white monastery is Montenegro’s holiest site decorated with frescoes and a sacred atmosphere.
DURMITOR NATIONAL PARK:
One of Mother Nature’s true showpieces with dramatic canyons, glacial lakes and nearly 50 limestone peaks soaring to over 2000m.