Arrange asset management
in Montenegro without travelling
Mirsatori&Partners supports management of property, accounts and corporate assets in Montenegro under a power of attorney, with regular reporting to the owner.
Who needs this service
Owning real estate in Montenegro and wishing to delegate day-to-day management.
Needing representation in company matters without travelling to Montenegro.
Needing a representative to liaise with banks and financial institutions.
What the service includes
Legal and organizational support for owning and managing assets in Montenegro. The representative’s authority is recorded in a power of attorney, while the services, reporting and remuneration are defined in an agreement.
Tenants, listings on Booking.com and Airbnb, cleaning, minor repairs, utility payments and municipal rental authorization.
Authorized representation, bank requests and notifications of material transactions. Payment and receipt-monitoring authority is agreed separately.
Participation in meetings, signing resolutions and dealing with the CRPS, tax administration and accountant.
Monitoring instruments and arranging contact with financial institutions under a power of attorney.
An agreed schedule of payments to the owner, reports on funds and assets, and tax returns handled by the accounting function.
Your assets, managed on your behalf
Support uses a general or special power of attorney and an agency or management agreement: punomoćje, ugovor o zastupanju or ugovor o upravljanju. The parties define actions, authority term, responsibilities, reporting and remuneration.
Lawyers prepare a draft power of attorney for execution in the client’s country. The client arranges foreign notarization, after which legalization and court translation are coordinated. Execution in Montenegro requires the client’s personal attendance.
By agreement, the owner is added to the Booking.com/Airbnb listing or account to view bookings and payments. The contract defines the payment schedule and regular property reports.
Municipal authorization is arranged for short- and long-term rental. Real estate transactions use a notarized power of attorney and notarial contract form, with each category of authority defined in advance.
Budget calculations consider 15% for long-term rental income and an indicative annual property tax of 0.25–1%, determined by municipality and property. We consider tax at 3% on purchases other than from a developer. Short-term rental includes a per-guest, per-night tourist charge at the municipal rate. An accountant determines applicable rates and prepares the individual calculation.
Notarial work follows the nationwide tariff for the document type. Management fees, translation, legalization and rental platform commissions are separate; preliminary budgets may use platform commissions of around 15% of revenue, with actual terms determined by the chosen platform.
The power of attorney specifies authority and its term; the agreement is updated when assets or tasks change. The representative confirms authority to the bank on request, while the accounting function prepares asset income returns.
Support takes account of laws on notaries, obligations, property and other real rights, business organizations, personal income tax, property, banking and administrative fees, together with CBCG rules.
Steps and timeframes
Identify the assets and the actions the owner delegates to the representative.
Timing agreed at consultation
Prepare the wording. Abroad, the client arranges notarization; in Montenegro, the client attends personally.
1–5 business days; depends on the country
Arrange court translation and agree the contract, authority, remuneration and reporting.
Translation: 1–3 business days
Arrange municipal rental authorization and carry out agreed asset actions.
Authorization: several days to several weeks
Provide reports and settlements, coordinate accounting and monitor the power of attorney.
Monthly/quarterly; renewal: 1–5 business days
Required documents
Documents needed during the engagement.
The list is derived from the service stages. Documents for each asset and the scope of authority are agreed at the consultation.
Discuss document preparationThe advantages of working with Mirsatori&Partners
We review the asset structure and agree which actions you wish to delegate.
A representative carries out the agreed actions in Montenegro.
We prepare the power of attorney and agreement defining actions and reporting arrangements.
We provide information on cash movements and asset status on an agreed schedule.
We monitor the power of attorney’s term and update the agreement when assets or tasks change.
Questions about the service
Real estate, bank accounts, company shares, and investment instruments. Each asset type is handled through a different format of support — from renting out property to representing your interests at company meetings.
The power of attorney is drawn up and notarized in your country of residence, then legalized — either apostilled (for Hague Convention countries) or given consular legalization; for documents from Russia, no apostille is required, as a certified translation by a court interpreter is used instead. The power of attorney is then translated into Montenegrin by a sudski tumač (court interpreter).
Legal assisntance with obtaining municipal authorization for lawful rental — in accordance with the Law on Property and Other Real Rights.
Through regular reporting — monthly or quarterly — on the movement of funds and the status of assets.