Acquisition of Immovable Property
Citizens of all European Union member states, including Maltese Citizens, who have not resided continuously in Malta for a minimum period of five years, may only purchase their primary residence or any immovable property required for their business activities or supply of services without the necessity of obtaining a permit under Chapter 246 of the Laws of Malta.
Citizens of all European Union member states, including therefore Maltese Citizens, who have not resided continuously in Malta for a minimum period of five years, require a permit under Chapter 246 of the Laws of Malta to acquire immovable property for secondary residence purposes.
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 Chapter 246 of the Laws of Malta.
There are defined zones in Malta, referred to as special designated areas, where there are absolutely no restrictions to acquisition. There is also no restriction on acquisition through inheritance and there are also several other special exemptions. Different rules apply to the acquisition by bodies of persons.
Applying for the Permit
All applicants need to:
The immovable property is to be used for residential purposes only.
The minimum price is:
As a non-resident, you are allowed to purchase only one immovable property in Malta unless it is situated in a Special Designated Area e.g. Portomaso Development Complex, Tigne' Point Development, Tas-Sellum Residence, St Angelo Mansions, Pender Gardens, Metropolis Plaza and Fort Chambray.
In accordance with a Quality Service Charter, the AIP Section is committed to issue the requested permit within 35 days subject to application submitted being correct.
Source of Information
All the above information is an extract from The Capital transfer Duty within the Inland Revenue division under the Ministry of Finance of the Government of Malta.
For further information visit the official government site about the Acquisition of Immovable Property.