Why Malta?            Сhoice of properties here!

One of the safest investments in Malta is property.
But there are number of other reasons why foreigners are purchasing a home and taking up residence in the Maltese islands:

• Friendly and safe environment
• A pleasant climate & English –speaking people
• Comfortable standard of living
• Freedom of movement into & out Malta
• No minimum stay requirements
• Tax-friendly procedure for moving your possessions to Malta
• Malta has a well regulated economy
• Malta became a member of the EU in 2004

Some important information for foreign buyers

• Property purchase price must not be less than 105 000 Euro in terms of Purchasing an Apartment or Maisonette and not less than 175 000 Euro for any other type of residential property.
• Non-EU citizens will still only be able to buy one residential property and always subject to an AIP permit being granted.
• There are certain areas in Malta(Portomaso, Tigne project, Fort Cambrigde,TAs-Sellum,Chambrai and other upmarket developments) where no AIP is necessary and thre are no restrictions on the number of properties that can be purchased.

Procedure

Once you have chosen a property and agreed on the price with the owner, a Preliminary Agreement of Sale is signed between you and the seller. This is normally valid for three month, but a longer period can be agreed upon. WE can appoint an independent Notary Public on your behalf and if required arrange a meeting prior to Preliminary Agreement. The agreement must be subject to the acquisition of the A.I.P Permit.

This 1st Agreement binds both parties to purchase/sell the property under the terms and conditions agreed upon, subject to legal title and the issue of any relevant permits to purchase. Normally 10 % of the purchase price is deposited with notary when the agreement is signed.

Once the notary has verified that all is in order and the permit has been issued, then the final deed of transfer of the property is signed and the balance of the purchase price is paid to the seller and also notary will transfer to the seller the remaining 10 percent of the price which was deposited before.

Expenses

1. Preliminary Agreement

Buyer pays

• 10 % deposit
• 1 % stamp duty (Property Purchase Tax) Initial payment of the 5 percent

2. Final Deed of Transfer

• 90 % of purchase price
• 1-2% Notary Public for legal services provided.
• 4 % stamp duty Balance remaining and due.
• 233 Euro - Acquisition of Immovable Property - Permit required for non-residents.

  We will organize tailor – made program for you starting from abroad ( all your travel arrangements ) to final and post final deed supervision (any language per request). 

  We are working only with professional and experienced Real Estates agencies and developers ; Public Notaries, Lawyers and Auditors.

Sunlight Inter Team will be happy to assist you during the whole process of buying or renting your future home!

 Welcome to reside in Malta!