In Montenegro, it is possible to buy real estate using cryptocurrencies like Bitcoin and Ethereum, despite the absence of a formal law regulating crypto assets. Some real estate agencies, particularly in coastal cities such as Budva and Tivat, and luxury resorts, offer this option to attract foreign investors. By the end of 2024, three property transactions using cryptocurrencies were notarized, although detailed examples are not widely documented.
Transactions are conducted in euros, the official currency of Montenegro, with payments made via blockchain before notarization. Notaries rely on confirmation of receipt for property registration. Foreign buyers can also use cryptocurrencies under the same conditions as locals, though the lack of regulation introduces legal uncertainty.
Property tax and related fees must be paid in euros regardless of cryptocurrency use, including progressive real estate tax and VAT on new constructions. Capital gains from cryptocurrency are taxed at 15%, requiring detailed record-keeping due to crypto volatility.
Currently, Montenegro lacks regulated crypto exchanges or payment providers. Cryptocurrency funds are usually converted into euros through foreign platforms before being deposited into the seller’s account, with banks requiring proof of source.
Cryptocurrency purchases in Montenegro include apartments, houses, land, and vehicles, with popular locations for crypto transactions being Budva, Kotor, Bar, Herceg Novi, and Ulcinj. Most buyers are foreigners from Russia, Ukraine, Cyprus, the UAE, Israel, and the United States. Montenegro’s government is working on legislation to regulate digital assets, expected to be introduced in 2025.
