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Real Estate & Property Law > conditions for buying property in Malta

Conditions for Non-Residents Purchasing Property in Malta

     

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An AIP Permit for the Acquisition of Immovable Property will be granted subject to the following conditions:

1. Minimum value of property:

  • Villa or house: €169,850

  • Apartment, flat, maisonette: €101,938

  • if in shell form / unconverted, finish costs included in total amount.

2. Property of historical interest or situated in historical area  cannot be bought. Architect to inspect property and decide whether of historical importance or not. (does not apply to Houses of Character or Farmhouses, which can be bought).

3. Property purchased must be destined:

  • for personal residential use of applicant only
    (private guests may stay when the owner is present)

  • for other purposes approved by Government,

  • for an approved industrial or touristic project, or

  • for any other project or purpose which is considered to contribute to the development of Maltese economy.

4. Documentary evidence of foreign origin of funds transferred to Maltese bank account, satisfactory to Central Bank of Malta, must be produced before signing the final contract.

5. Maximum property that can be purchased in Malta and Gozo: 1

Except in Special Designated Areas e.g. Portomaso (St Julians), Chambray (Gozo), Tigné, Manoel Island and Cottonera – property purchased by company or trust.

6. Resale of property is allowed only to Maltese resident.

 

 

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