Can any foreign national buy immovable property in Malta?
Yes, all foreign nationals can buy immovable property in Malta
Do foreign nationals need a permit to buy immovable property?
All citizens from a non-EU country need a permit to buy immovable property. Citizens buying a holiday home (secondary residence) from an EU country including Maltese citizens who have not resided in Malta for at least 5 years require a permit (AIP – Acquisition of Immovable Property Permit) from the Inland Revenue Department. This permit is granted within 6/7 weeks.
Are there any exceptions when a permit is not required?
EU citizens may only buy 1 property unless:
- They have been resident in Malta for a continuous period of at least 5 years
- They buy in a specially designated area.
- The second property is required for the person's business activity or supplying of services.
Can a foreign national buy more than 1 immovable property?
EU citizens may only buy 1 property unless
- They have been resident in Malta for a continuous period of at least 5 years
- They buy in a special designated area
- The second property is required for the person’s business activity or supplying of services.
Those EU citizens who have already lived in Malta for a continuous period of 5 years may purchase another property, without the necessity of a permit, immediately.
Can non-EU citizens buy more than 1 immovable property?
Yes, however it is only possible in special designated areas.
Can any foreign national buy 3 immovable properties in a special designated?
Yes, this is possible as there are no restrictions on special designated areas.
Which are the special designated areas?
- Madliena Village
- Fort Cambridge
- Pender Gardens
- Portomaso
- Tigné Point
- St. Angelo Mansions
- Tas-Sellum
- Ta' Monita
- Chambrai - Gozo
- Kempinski Residences – Gozo
Can an immovable property be purchased in the name of a Company?
Yes, if the property is in a special designated area. Yes, as long as 75% of the share capital is held by persons who are citizens of the EU and who have resided in Malta continuously for 5 years. The company operates in an EU state and all directors must have 5 years residence qualifier. In other cases, a permit will only be granted if the property is required for an industrial or tourist project or as a contributor to the development of the economy of Malta.
Are there any permits required if a foreign national inherits an immovable property “Causa Mortis”?
No permits are required in this case.
What are the conditions in the AIP permit?
The condition are the following;
- The value of the immovable property has to be not less than €110,000 in case of Apartments/Maisonettes and €183,500 in case of houses.
- The property has to be used solely as a residence for applicant and his family.
Can a foreign national buy below the threshold of €110,000 and €183,500 if the immovable property is shell or unconverted?
Yes, as long as an architect’s certificate can be produced to illustrate that the cost to finish the property and make it habitable add up to the minimum thresholds
Can these thresholds be revised in the future?
Yes, these are linked to the property price index, which is published in the Government Gazette every year. In fact these have lately been revised to €110,000 and €183,500
Can a foreign national rent an immovable property?
Yes these may be rented as long as;
- It is in a special designated area.
- It is issued with a licence from the Ministry of Tourism Authority under “Superior” and “Comfort” category.
Can 2 couples buy 1 immovable property between them?
Yes, joint ownership is possible as long as the purchasers are in agreement
Does a non-EU citizen married to an EU citizen require an AIP permit?
No, a permit is not required
What documents need to be presented with an AIP application?
The following documents need to be presented together with the AIP application;
- Two passport sized photos.
- Copy of convenium (Preliminary Agreement of Sale).
- Photocopy of passport showing details.