Non-EU Resident  Or Second home

  • Posted on:  Friday, 29 August 2014 00:00
  • Written by 
Rate this item
(0 votes)

Non-EU Resident  Or Second home

EU map todayBlue denotes EU Zone MembersIndividuals 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 (see separate tab), 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.

If you are from outside the European Union or if you are a Citizen of a European Union however the property you are purchasing is not for a prime residence in order to purchase a property in Malta there is a minimum price that one must pay for an apartment as well as for a house or a villa to be able to obtain an AIP (Acquisition of Immovable Property) permit which is granted by the Ministry of Finance and usually takes some 6-8 weeks. These prices are €169, 205 (Lm72, 640), for a house or villa and €101, 551 (Lm43, 596) for flats or maisonettes.

Prices may change from time to time. It is best to verify these figures nearer the time of purchase.
Read 41450 times Last modified on Friday, 29 August 2014 19:04
Login to post comments
Contact!