Although real estate and cars in Montenegro can legally be purchased with cryptocurrencies, such transactions are rarely recorded within the country’s tax or legal system, according to a BIRN investigation.
The investigation found that many real estate agencies and vehicle sales websites in Montenegro accept cryptocurrencies like Bitcoin (BTC), Tether (USDT), Ethereum (ETH), and Litecoin. Luxury real estate complexes such as Dukley Gardens and Dukley Residence in Budva have accepted cryptocurrency payments since December 2017, although the company has not disclosed how many properties were bought this way.
Most crypto-based property buyers in Montenegro are reportedly citizens of Russia, Ukraine, Cyprus, the UAE, Israel, and the U.S. Popular locations for these purchases include Budva, Kotor, Bar, Herceg Novi, and Ulcinj.
The President of Montenegro’s Notary Chamber, Darko Ćurić, said only three notarized crypto real estate transactions were unofficially recorded by the end of 2024. He noted that contracts are typically denominated in euros, while crypto transfers happen privately between digital wallets—meaning such deals are rarely formally documented.
Montenegro still lacks a legal framework for digital assets. While the government announced plans to draft a cryptocurrency law in 2020, it has not yet proposed one. In September 2024, the Ministry of Finance confirmed it was working with the central bank and the capital market commission to develop such legislation.
