SoF advice for an investment at Montenegro

[yehavo]

Hello all,
I am a 3rd world country citizen, i've bought a property in there 3 years ago and now sold it for 300K EUR

Now i have property sales agreement that have signature of both seller and real estate company (stamped) with property acquisition price, and receipt of completion of sale with real estate company's stamp+signature plus acquisition price written.

The buyer sent 50K EUR to my bank account, rest of the amount delivered by cash.

So, i want to buy an land in Montenegro but i dont wanna involve my bank account at my home country.

After converting this money to cryptocurrency and get it as cash in Montenegro, can i show these documents to the bank as SoF so that i can deposit and use this money to acquire the land?

Or do you have any ideas that doesnt involve my bank account @ home country?

Thanks

 

[CyprusLawyer101]

Find a lawyer to carry out the transaction through their client's account

 

[wellington]

Find a lawyer to carry out the transaction through their client's account

Agreed, always use a lawyer...

 

[yehavo]

Find a lawyer to carry out the transaction through their client's account

Agreed, always use a lawyer...

You mean that a lawyer from my home country that does SWIFT to seller @ Montenegro or i need to find lawyer in MNE to handle transaction?

 

[CyprusLawyer101]

You mean that a lawyer from my home country that does SWIFT to seller @ Montenegro or i need to find lawyer in MNE to handle transaction?

I guess from anywhere would work. The Lawyer client's account recieves the funds from you and settles on your behalf and finalizes the transaction. You do not appear in montenegro as the sender of funds, however data on the transaction including your name may be disclosable to the recipient bank as part of their DD of the transaction, but the funds will appear coming from the lawyers account. Also an escrow arrangement could give you similar effect.

 

[yehavo]

I guess from anywhere would work. The Lawyer client's account recieves the funds from you and settles on your behalf and finalizes the transaction. You do not appear in montenegro as the sender of funds, however data on the transaction including your name may be disclosable to the recipient bank as part of their DD of the transaction, but the funds will appear coming from the lawyers account. Also an escrow arrangement could give you similar effect.

Talked to few lawyers. The issue is that lawyer needs funds in the account not cash, so i need to do wire transfer anyway so that involves money transfer from my home origin account.

Say if i come to Montenegro with money bag, with sales+receipt documents translated notarized. Can i show these documents to customs for declaration? Would they accept it?

 

[CyprusLawyer101]

Talked to few lawyers. The issue is that lawyer needs funds in the account not cash, so i need to do wire transfer anyway so that involves money transfer from my home origin account.

Say if i come to Montenegro with money bag, with sales+receipt documents translated notarized. Can i show these documents to customs for declaration? Would they accept it?

So the funds is in physical cash ? Or crypto ?
Νormally you can declare the cash at customs. But you should talk to some9ne in Montwnegro to confirm this. In Cyprus this is how it works. Did you pay taxes on those funds?

 

[Forester]

Say if i come to Montenegro with money bag, with sales+receipt documents translated notarized. Can i show these documents to customs for declaration? Would they accept it?

I wouldn't recommend coming to Montenegro with a money bag, even with documentation. Not only because of such a travel is a little bit dangerous/adventurous; but it can be easily interpreted as a very suspicious action and you can become suspected to be involved in drug trafficking, trade with woman and similar ugly businesses even if you are quite innocent. And explaining such an issue to LEOs is the activity that perhaps nobody wants to be unnecessarily engaged in.

1) If your money are clear (as it seems to be), generally I'd expect that you can be able to find a lawyer in your country who accepts cash (hopefully it's not illegal there).
2) If not, then from what I have heard, in many countries, hopefully also in Montenegro, you can find a real estate seller who is willing to accept crypto – it would solve your problem completely.

 

[yehavo]

I wouldn't recommend coming to Montenegro with a money bag, even with documentation. Not only because of such a travel is a little bit dangerous/adventurous; but it can be easily interpreted as a very suspicious action and you can become suspected to be involved in drug trafficking, trade with woman and similar ugly businesses even if you are quite innocent. And explaining such an issue to LEOs is the activity that perhaps nobody wants to be unnecessarily engaged in.

1) If your money are clear (as it seems to be), generally I'd expect that you can be able to find a lawyer in your country who accepts cash (hopefully it's not illegal there).
2) If not, then from what I have heard, in many countries, hopefully also in Montenegro, you can find a real estate seller who is willing to accept crypto – it would solve your problem completely.

Thank you, thinking out loud, is there any EMI with dedicated IBAN that i can apply with 3rd world passport and provide these said proofs, deposit crypto then transfer to Montenegro?

 

[Forester]

Thank you,

You are welcome.

thinking out loud, is there any EMI with dedicated IBAN that i can apply with 3rd world passport and provide these said proofs, deposit crypto then transfer to Montenegro?

Weel, “3rd world passport” is a quite broad term, with certain passports it is more complicated, with certain it is easier – if you share your country name, you'll probably get more founded answer.

Putting this aside, the answer is yes (if you mean deposit crypto and then transfer FIAT to the seller in Montenegro), I guess; there should be a few. As I am not dealing with crypto, at least not regularly, I recall only Nebeus at this moment (and it could not be the best bet). But some other fellows here can be definitely more knowledgeable
Feel encouraged to open a new thread in Offshore Bank Accounts & EMI Accounts dedicated to this question, here it probably would not attract the right attention.

Yet I am still following this line

2) If not, then from what I have heard, in many countries, hopefully also in Montenegro, you can find a real estate seller who is willing to accept crypto – it would solve your problem completely.

If crypto-based operations are not forbidden in Montenegro (I have no clue, I admit) but it would not seem well possible to find a real estate seller who is willing to accept crypto, what about to engage some middleman? Someone who is willing to buy a real estate for (his) fiat and then sell it for crypto to you (with some margin of course)...

 

[yehavo]

You are welcome.

Weel, “3rd world passport” is a quite broad term, with certain passports it is more complicated, with certain it is easier – if you share your country name, you'll probably get more founded answer.

Putting this aside, the answer is yes (if you mean deposit crypto and then transfer FIAT to the seller in Montenegro), I guess; there should be a few. As I am not dealing with crypto, at least not regularly, I recall only Nebeus at this moment (and it could not be the best bet). But some other fellows here can be definitely more knowledgeable
Feel encouraged to open a new thread in Offshore Bank Accounts & EMI Accounts dedicated to this question, here it probably would not attract the right attention.

Yet I am still following this line

If crypto-based operations are not forbidden in Montenegro (I have no clue, I admit) but it would not seem well possible to find a real estate seller who is willing to accept crypto, what about to engage some middleman? Someone who is willing to buy a real estate for (his) fiat and then sell it for crypto to you (with some margin of course)...

AFAIK Montenegro laws requires property price should be sent by wire transfer. Even if they allow this, i will do joint construction with that land, i dont want to end up with "ok how did you buy it" situation with these lazy Montenegrin officers

 

[Forester]

AFAIK Montenegro laws requires property price should be sent by wire transfer. Even if they allow this, i will do joint construction with that land, i dont want to end up with "ok how did you buy it" situation with these lazy Montenegrin officers

Oh well. It changes the game, of course; buying for crypto is a no-go.
So, see the answer above...