There are issues to consider when purchasing a property here in Malta, and these issues and conditions should be addressed with your Notary. The requirement for a Permit that covers the Acquisition of Immovable Property, essentially a permit that allows you to buy a property.
- If you have lived in Malta or Gozo for 5 continuous years and you are a citizen of a European State – then you will have no need for a permit.
- If you have not resided in either Malta of Gozo for 5 years – but are however planning on the purchase property to be your prime (main) residence then again you will have no need to have a permit.
- If you have not lived on the islands for 5 years continuously, and are a citizen of a european state, but the property is for a 2nd residence then you will need an A.I.P permit
- If you plan to buy a property in Malta or Gozo but are not a member of any European State then you will be unable to purchase property. Unless – you qualify under the terms of chapter 246 to the Maltese Law.
- Discuss with your Notary as there are exceptions; for example if granted a permit the property must have a minimum price of €103,000 for maisonettes and apartments, and minimum of €173,129 for all other property types.
- You will not be allowed to rent this property out and if you do decide to sell the the new purchases must be Maltese.
This is by no means a conclusive list of conditions and we recommend that you access the Inland Revenue Website or clarify with your Notary prior to making any offer.
EXCEPTION TO THE A.I.P. PERMIT FOR NON EUROPEANS
Special Designated Areas
Special Designated Areas are designed to be the exception to any A.I.P rules. These areas have been built to cater to E.U and Non E.U alike; offering the purchaser to buy freely as if they were a Maltese National. There are no restrictions on purchase or sale and can be leased.
Current Special Designated Areas are;
- Cottonera Development, Cottonera, Malta
- Ford Cambridge Zone, Tigne, Malta
- Madliena Village Complex, Malta
- Metropolis Plaza, Gzira, Malta
- Pender Place, St Julians, Malta
- Portomaso Marina Development, St Julians, Malta
- Portomaso Extension 1, St Julians, Malta
- Smart City, Malta
- Ta’Monita Residence, Marsascala, Malta
- Tas-Sellum Residence, Mellieha, Malta
- Tigne Point, Tigne, Malta
- Gozo Special Designated Areas
- Fort Chambray, Ghajnsielem, Gozo
- Kempinski Residences, San Lawrenz, Gozo