RESIDENCES & ESTATES
Investment
As Montenegro marches towards EU membership , foreign and EU-funded investment in the country has flowed . Almost EUR3 billion has been invested in the 10 largest coastal developments , giving this part of Montenegro the moniker “ the next French Riviera ”. This has caught this attention of high net worth individuals who are attracted to the country ’ s low corporate tax rate . According to Knight Frank 2019 Wealth Report , the number of UHNWIs in Montenegro is expected to increase by 36.1 per cent over the next four years .
Property transfer tax , inheritance and estate tax are set at a highly competitive 3 per cent . This transfer tax compares very favourably to many other parts of Europe like Portugal where the rate is 6.5 per cent and up to 10 per cent in Spain . Overall , tax regimes in the country are amongst the most competitive in Europe , with a rate of 9 per cent being applied to company profits , capital gains and personal income .
Portonovi offers a unique Rental Programme for those wishing to attain an income from their waterfront investment . Guests benefit from a 24-hour concierge service , in-residence dining as well as an expert lifestyle team eager to assist with any queries or requests .
28 The Art of Luxury Issue 46 2021