A Guide to Purchasing Real Estate in Malta
A common adage is that buying a property can be one of the most stressful things and your most costly purchase in life. Oyster Christie’s International Real Estate agents can help take some of the pressure off by helping you carefully set out your goal.
Individuals who are not citizens of a European Member state may not acquire any immovable property unless they are granted a permit in terms of Immovable property unless they are granted a permit in terms of Immovable Property (Acquisition by Non-Residents) Act Chapter 246 of the Laws of Malta.
The AIP Section of the Capital Transfer Duty Department is responsible for the processing of applications by non-residents to acquire immovable property in Malta.
Main Conditions Imposed on the Permit
- Immovable property is to be used for residential purposes.
- That the immovable property may not be sold in part
- Property acquired by AIP permit cannot be rented out
- As a non-resident, you are allowed to purchase only one immovable property in Malta unless it is situated in a ‘Special Designated Area’
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