Buying Property Foreigners
Maltese or EU citizens which have resided in Malta for a period of at least 5 continuous years, at any time before the date of the final deed of transfer, can buy freely within the Malta.On the other hand, persons which do not fulfil the above minimum period of residency and non-EU citizens are subject to more onerous conditions when purchasing property in Malta.
In general, such persons can only purchase property in Malta after they obtain what is known as an Acquisition of Immovable Property (AIP) Permit. The office of Dr. Notary Spiteri Debono can take care of applications by non-residents for AIP Permits. A fee of two hundred and thirty three euro (€233) is payable for every AIP Permit issued.
In order for an AIP Permit to be issued the property to be purchased must meet certain minimum value thresholds. Currently these values are set at just over €100,000 in the case of apartments and just over €167,000 for any other kind of property. These thresholds are subject to revision, thus foreigners intending to buy property in Malta are encouraged to contact us or the latest thresholds.
Nevertheless, there are a number of up-market residential developments on the Maltese Islands, which are known as SpecialDesignated Areas. When purchasing properties in these areas non-residents do not require the abovementioned AIP Permit in order to purchase property in Malta.
Currently the Special Designated Areas are the following;
Fort Chambray, (Ghajnsielem, Gozo)
Cottonera Development (Cottonera, Malta)
Tigne Point (Tigne, Malta)
Tas-Sellum Residence (Mellieha, Malta)
Madliena Village Complex (Madliena, Malta)
Smart City Malta
Fort Cambridge (Tigne, Malta)
Ta’ Monita Residence (Marsascala, Malta)
Pender Place (St. Julians, Malta)
Metropolis Plaza (Gzira, Malta)
Kempinski Residences (San Lawrenza, Gozo)
Vista Point (Marsalforn, Gozo)
From time to time the Maltese Government makes available a number of schemes which offer the prospective foreign buyer a number of advantages. For this reason, any foreigner which intends to buy property in Malta is best advised to seek a Notary Public in Malta so that his position at law is explained.
At Notary Spiteri Debono all preliminary advice is not billed and is given without any obligation.
