Statement by the Minister of Finance, dr Igor Lukšić, on occasion of adopting the Draft Law on Property Rights Relations

Draft Law on Property Rights Relation was established by the Government at the end of previous year, and the parliamentary procedure had determined that it is necessary to perform the additional public debate, which was done and the public debate had been finished end-April. According to the notes stated during the public debate, Draft law on Property Rights Relations was prepared, to once again enter the Parliament procedure. This law had offered the solutions to provide an additional impulse for the investments, as well as for Montenegro to be presented as a very attractive destination for continuation of investment in tourism, real estates and other, and on the other had to satisfy the primary interest of rational use of space, as a valuable resource.

For that reason, the rights of foreign persons are under special attention and, after comprehensive consultations made, in that sense, the key shall be Article 415 of the law, which stipulates that private and juridical persons cannot hold ownership rights in following situations on the natural wealth and goods for common use, agricultural land, forest, forest land, cultural monument of great and special importance, real estates located in the area which was, for the purpose of state protection and security, prescribed by the law as such that the foreign person cannot have property rights on it.

In this manner, we shall keep a certain type of individual demand in certain areas, especially mountain Zabljak, Kolasin, Plav etc. We had also proposed that the foreign person can acquire property rights on agricultural land, forests and forest land, providing that the area is not larger than 5 thousand m2, if the subject of contract on sale, purchase, gift, exchange and other is a dwelling located on such land.