The Turkish company "Merit Montenegro" advertises the sale of luxury residential apartments in the "Merit Starlit" condo hotel, offering foreigners who buy a valuable property and obtaining a residence permit in Montenegro.
"Merit Starlit" was built on the site of the former "Zeta film" building, about a hundred meters from Budva's old town, and is a joint project of the Turkish company "Merit International" and the Budva company "Zeta film" of a businessman from Nikšić. Branislav Mićunović.
"Owners of 49 apartments can get a residence permit in Montenegro after obtaining the title deed. They, 49 privileged investors and their families "Merit Starlit Residence" will not only own real estate with high yields, but will also receive a "residence permit" from the European shining star of Montenegro. In this process, we will not only provide investors with the necessary legal support, but we will also help you to take advantage of the residence permit," says the website of this company that sells apartments in large quantities.
This condo hotel, as previously announced, will be opened on May 30 of this year.
"Merit Starlit hotel & residence opens the door to a privileged life in the heart of Budva, it has 44 hotel rooms and 49 residences, as well as two restaurants, a SPA and a fitness center that will provide top-notch service. Distinguished residents of "Merit Starlit" will be able to use the five-star privileges of our hotel," the company's website says.
They explain to future buyers that according to the law promulgated in 2015, foreigners and their family members who invest in real estate in Montenegro - regardless of the price of the real estate - can get a residence permit.
In August 2020, "Zeta Film" concluded a joint construction contract with the Turkish company "Merit Montenegro". By that time, "Zeta Film" had roughly erected a multi-story building, in order to entrust the completion of the works and the furnishing to "Merit Montenegro".
The Ministry of Sustainable Development and Tourism, headed by the minister at the time Pavle Radulović issued a building permit for the construction of a condo hotel with a total gross construction area of 2016 square meters in 15.123,32. Mićunović is also the owner of the old Post Office building across the street from the future condo hotel, which he bought three years ago for three million euros from the Atlas Group. Duško Knežević.
"Zeta Film" operated with a loss of 176 euros the year before last, and a loss of 143.819 euros the year before. Mićunović's company had a loss in business in previous years, so it ended 2018 with a loss of 1,3 million, 2017 with a loss of 33.751, and 2016 with a negative net result of 27.395 euros.
Ten days ago, Mićunović's "Zeta Film" paid 129.753,18 euros to the account of the Municipality of Budva and thereby paid the last installment on behalf of utilities for the construction of the future condo hotel and five-star casino.
"Zeta Film" has been paying its obligations on time for the past five years, as long as the utility bill settlement contract was concluded. Part of the interest remains to be paid, so that "Zeta Film" will fully comply with the contractual obligations.
In December 2016, the municipality of Budva and "Zeta film" concluded an agreement on the settlement of utilities in installments. In the contract, this company undertook to pay a total of 12 thousand euros in five annual installments for the construction of a luxurious 794-story condo hotel. Mićunović immediately paid a down payment of 2016 in 145.972,33, in order to pay a total of three annual installments of 2017 euros in 2018, 2019 and 129.753,18.
As a guarantee that he will settle the obligation by December 15, 2021, the businessman from Nikšić initially pledged an attractive land complex of 6.470 square meters in Reževići, on which the Municipality of Budva registered a mortgage in January 2017. However, after he sold the land complex two and a half years ago for 3,8 million to the company "Savana commercial retail", a businessman Veselin Mijača, Mićunović then gave the Municipality a bank guarantee in the amount of 453 thousand euros as a guarantee that he would pay off the remaining part of the debt for utilities, which was the amount he had left to pay off the annual installments with interest. On the other hand, the bank mortgaged Mićunović's real estate and that of his son Đorđe in Nikšić.
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