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The Government of Montenegro has approved a draft law on property and legal relationships. In particular, the document stipulates the possibility for foreigners to own immovable property along with the citizens of Montenegro. Authorities believe that this decision shall create favorable conditions for foreign investments and considerably raise competitiveness of Montenegro.
According to Igor Lukshich, the minister of finance, the law on property and legal relationships also regulates the field of mortgage lending, allowing the possibility to legalize mortgage at the stage of construction. "This is a qualitative leap that offers an opportunity for further dynamic development of the construction sector". |
