Notary fees for purchasing in an old property
| PRICE BRANCHES | NOTARY FEES |
|---|---|
| FROM 0 TO 5,000 euros | 70 euros |
| FROM 5,001 TO 20,000 euros | 120 euros |
| FROM 20,001 TO 40,000 euros | 170 euros |
| FROM 40,001 TO 60,000 euros | 250 euros |
| FROM 60,001 TO 80,000 euros | 300 euros |
| FROM 80,001 TO 120,000 euros | 350 euros |
| FROM 120,001 TO 135,000 euros | 360 euros |
| FROM 135,001 TO 150,000 euros | 370 euros |
| FROM 150,001 TO 165,000 euros | 380 euros |
From 120,000 euros, each additional 15,000 euros represents
an increase of only 10 euros.
However, there is a maximum ceiling for notary fees: 5,000 euros. Notary fees cannot therefore exceed this amount.
These notary fees are added to the purchase tax of 3% on the total price of the property.
Another parameter on which Montenegro is well placed.
Regarding transfer taxes, in France, the rate for old property is 8%. The country holds the sad record for the highest taxation in Europe and this is also reflected in transfer taxes.
The most taxed after the French are the Germans (6%) and the Portuguese (between 6 and 8%).
Things to know about acquiring real estate in Montenegro:
– You have full enjoyment of the property
– The property belongs to you without time limit unlike other countries where the State recovers full ownership of the property after 99 years
– You can pass the property on to your children
– The property tax represents a “ridiculous” amount
– Using an escrow account is an additional cost (175€)
– The notary registers the deed definitively after confirmation from the seller
regarding receipt of payment
-The purchase tax can be paid by the seller and the buyer (50/50)
or even by the seller entirely (only possible within the framework
of a sale between individuals)
To learn more about the real estate experience in Montenegro, you can discoverthe reference book (only in french)on this subject, soon.
