One of the well-known hotels on the Montenegrin coast — Plaza in Herceg Novi — will be put up for public auction on September 14. The property together with the land plot has been valued at €30.742 million, the Serbian business portal Parametar.rs reports.
At the first auction, the hotel cannot be sold for less than 80% of its appraised value, so the minimum price will amount to about €24.6 million. To participate, potential buyers were required to pay a deposit of €3.074 million.
The sale is connected with a years-long dispute surrounding the company Vektra Boka, which managed the property. The proceeds from the sale of the assets are to be used to settle the claims of former employees and other creditors. Among them are the municipality of Herceg Novi and the local Water Supply and Sewerage company. CKB banka also has separate claims against Vektra Boka.
If no buyer is found at the first auction, at the second one the minimum price may fall to 50% of the valuation — approximately €15.37 million.
The package being sold includes land worth €7.01 million and buildings worth €23.73 million. The area of the main hotel property is about 5.44 thousand sq. m.
Source — Parametar.rs
According to “Serbian Economist”, Montenegro expects to join the European Union as a full and equal member and does not agree to a model under which new member states would be granted limited rights, Minister of European Affairs Maida Gorčević stated on September 9.
According to her, Podgorica is prepared to adopt additional safeguards against a potential democratic backslide following EU accession, but does not want to become a “second-class member” with limited voting rights or other temporary restrictions.
Various models for future enlargement are currently being discussed within the European Union, including the possibility of temporarily restricting certain rights of new members regarding the budget, foreign policy, or the exercise of the veto. Gorčević emphasized that Montenegro is prepared to accept the strictest mechanisms for monitoring the rule of law, but considers the equality of members to be a fundamental condition.
At the same time, Podgorica is trying to dispel Brussels’ concerns about possible vetoes in advance. Gorčević stated that Montenegro has no intention of using the veto as a tool for exerting pressure and sees itself rather as part of a group of small and predictable EU members, such as Slovenia, Malta, or the Baltic states.
Montenegro remains the most advanced candidate for EU accession in the Western Balkans. Negotiations have been ongoing since 2012, and all 33 negotiation chapters have been opened. Following the closure in July of the chapters on competition and the customs union, the number of provisionally closed chapters reached 18.
The government expects to close the remaining chapters by the end of 2026 and is aiming for EU accession in 2028. Back in the spring, Gorčević stated that the country’s goal is full membership, rather than an interim or simplified form of integration.
For Ukraine, Podgorica’s position is also of interest as a potential precedent. If Brussels does indeed decide to impose transitional restrictions on new EU members regarding the right of veto or other powers, such a model could potentially be applied to other Western Balkan countries that join later. This model could also be applied to other EU candidate countries.
According to Serbian Economist, Montenegrin police have deported six Ukrainian citizens suspected of establishing a network of cooperation with one of the “high-risk organized crime groups” (OCGs) operating in the country.
According to police, the operation lasted several days and was aimed at identifying foreigners whose presence and activities could pose a threat to the country’s internal and national security. As a result of the investigations, police reported uncovering links between six Ukrainians, aged 28 to 33, and one of the organized criminal groups.
Following the investigation, the police initiated the revocation of the temporary protection previously granted to these Ukrainian citizens. Subsequently, a decision was made to deport all six individuals and ban them from returning to Montenegro for a period of five years. They were forcibly removed from the country via Podgorica Airport and the Božaj border crossing on the border with Albania.
Another Ukrainian citizen, who is currently outside Montenegro, was barred from entering the country on the same grounds. Thus, the measures affected seven individuals: six were deported, and one was barred from entry.
During the operation, various communication devices, GPS tracking devices, drones, devices for interpersonal communication, and other items were seized from those inspected. The police stated that they will continue to inspect foreigners as part of measures to counter threats to national security.
At the same time, it is important to clarify the legal aspect of the report: the police are specifically referring to suspicions of collaboration with an organized criminal group and the results of operational checks. The official statement contains no information about a court verdict that has taken effect regarding these citizens or about criminal charges brought against them. Therefore, it is currently incorrect to refer to them as members of a criminal group based on the published data.
Since 2022, the Ukrainian community has become one of the largest foreign communities in the small country of Montenegro. The actual number of Ukrainians with valid temporary protection can now be conservatively estimated at 6,000–7,000 people.
The situation is less clear regarding regular residence permits and permanent residency. The most recent complete breakdown by nationality from the Ministry of the Interior showed that as of October 31, 2023, 5,208 Ukrainian citizens held regulated temporary or permanent residence permits in Montenegro. The Ministry of Internal Affairs has not yet released any more recent official public data specifically regarding Ukrainian temporary or permanent residence permits for 2026. Therefore, it is not possible to state, for example, that exactly 5,000 or 7,000 Ukrainians currently hold regular temporary residence permits. In 2025, local media, citing registration data from the Ministry of Internal Affairs, estimated the total Ukrainian community at 10,000 people. This represents about 1.6% of the country’s population. For comparison, the latest census indicates that Montenegro’s permanent population is 623,633.
According to the “Serbian Economist,” on September 3, Montenegro’s Skupština (parliament) unanimously supported a proposal to amend the Constitution, which would remove the immunity of the country’s president, prime minister, and members of the government in cases of crimes against official duties, including corruption offenses.
All 66 deputies present at the session voted in favor of the proposal; there were no votes against or abstentions. A two-thirds majority of parliamentarians was required to initiate the constitutional amendment process.
This specifically concerns abuse of office, accepting and offering bribes, as well as other corruption-related crimes. The government explains these changes as necessary to address situations where the immunity of a high-ranking official becomes an obstacle to criminal prosecution.
The initiative was drafted by the government back in the spring of 2026. The Cabinet of Ministers proposed amending Article 86 of the Constitution to explicitly revoke immunity for the president and members of the government in cases of crimes against official duties. The government links this reform, in particular, to the implementation of recommendations from the Council of Europe’s anti-corruption group GRECO and Montenegro’s progress under Chapter 23 of the EU accession negotiations.
However, formally, immunity has not yet been abolished. Parliament has instructed the Constitutional Committee to prepare a draft of the amendments within four days. According to Article 156 of the Constitution of Montenegro, after the draft is approved by two-thirds of all deputies, it must undergo a public consultation lasting at least one month, after which the final text must again receive the support of two-thirds of Parliament.
According to “Serbian Economist”, in the first half of 2026, Serbia became the largest source of foreign capital directed toward real estate purchases in Montenegro, according to data from the Central Bank of Montenegro (CBCG).
From January through June, foreign investors invested 237.77 million euros in Montenegrin real estate, which is 3.89% more than during the same period last year. Overall, gross foreign direct investment inflows into the country totaled 457.37 million euros, meaning real estate accounted for about 52% of all FDI inflows.
Serbia took the lead with 55.75 million euros, or 23.45% of all foreign investment in Montenegrin real estate.
Germany took second place with 22.9 million euros, and the United States came in third with 20.84 million euros. Switzerland contributed 18.5 million euros toward real estate purchases, and Turkey contributed 16.34 million euros.
Against this backdrop, the continuing decline in the role of Russian capital is particularly noticeable. In the first half of the year, only 5.37 million euros came from Russia for the purchase of Montenegrin real estate, placing it in tenth place. Poland and Belgium, among others, now rank higher than Russia in the list.
This trend began to take shape as early as last year. In the first quarter of 2025, Russia fell out of the top five largest markets for real estate buyers in Montenegro for the first time and ranked sixth. For 2025 as a whole, the volume of Russian investment across all sectors of Montenegro’s economy fell to 33.98 million euros, of which approximately 17.8 million euros went to real estate. By comparison, in the years 2020–2024, Russian capital was traditionally among the country’s largest sources of foreign investment.
However, it is not entirely accurate to refer directly to “Serbian citizens” or “Russians who purchased real estate” based on these figures. The CBCG methodology considers the country from which the payment originated, which may not correspond to the citizenship of the ultimate buyer or beneficiary. For example, a Russian citizen may pay for a property from an account in Serbia, the UAE, or another country. Therefore, the data primarily reflects a shift in the geography of financial flows in the real estate market.
According to “Serbian Economist”, Ukraine ranked sixth among Montenegro’s foreign tourism markets in July 2026 in terms of the number of overnight stays in collective accommodation facilities, as evidenced by new MONSTAT data published on August 27.
Ukrainian tourists spent 43,400 nights in hotels, tourist complexes, hostels, and other collective accommodations. In total, approximately 7,350 tourists from Ukraine stayed at such accommodations during the month.
Serbia, Bosnia and Herzegovina, Poland, the United Kingdom, and Russia ranked ahead of Ukraine in terms of the number of overnight stays. Ukrainians accounted for about 4.4% of all overnight stays by foreign guests.
At the same time, the flow of tourists from Ukraine remains fairly stable. The number of tourists from Ukraine has remained virtually unchanged compared to July of last year, while the number of overnight stays decreased by approximately 3%.
Serbia remains the leader in Montenegro’s tourism market, accounting for about a quarter of all foreign overnight stays. At the same time, the influx of Russian tourists rose sharply in July: the number of overnight stays by Russians increased by more than 60% year-over-year.
In total, 244,800 tourists and 1.08 million overnight stays were registered in Montenegro’s collective accommodation establishments in July. Foreigners accounted for over 90% of overnight stays.
However, the actual role of Ukrainians in Montenegro’s tourism sector is greater than what the July hotel statistics indicate. MONSTAT does not include private apartments and vacation rentals—which Ukrainian tourists actively use—in this monthly report. As of 2025, Ukraine accounted for 4.7% of foreign overnight stays in Montenegro’s private sector.
