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To the question: Can any foreigner buy a property in Malta? The answer is yes. Are there any restrictions on foreigners owning property in Malta? For citizens of an EU country, there are no restrictions and therefore one can purchase and own multiple properties without needing any specific permit. Restrictions on foreign nationals owning property in Malta depends mainly on citizenship.
When Is A Permit Required?
When are there some restriction on foreign nationals owning property in Malta?
Citizens from an EU country including Maltese citizens who have not resided in Malta for at least 5 years, who are buying a holiday home or a secondary residence require a permit (AIP – Acquisition of Immovable Property Permit) from the Inland Revenue Department.
This permit is normally granted within 7 weeks. This permit comes with some conditions, where the minimum purchase price needs to be over €137,000 for an apartment or maisonette and over €237,000 for a house or villa.
These price thresholds are periodically revised according to the property price index published by the State. The property should also only be used as a residence for applicant and his family.
When Is A Permit not required?
A permit is not required, when an EU citizen declares that he intends to purchase the immovable property as a primary residence.
A permit is also not required if any foreigner, even a non-EU citizen purchases a property in a ‘special designated area’ These specific projects where one can purchase a property in Malta without restrictions are listed here:
- Fort Cambridge, Sliema
- Piazzetta, Sliema
- The Quad, Mriehel
- Madliena Village, Madliena
- Southridge, Mellieha
- Trident Park, Mriehel
- Smart City, Kalkara
- Pendergardens, St Julians
- Portomaso, St Julians
- Tigné Point, Sliema
- St. Angelo Mansions, Vittoriosa
- Ta’ Monita Residence, Marsascala
- Tas-Sellum Residences, Mellieha
- Kempinski San Lawrenz, Gozo
- Fort Chambray – Gozo
- Vista Point – Gozo
Once an EU citizen has resided in Malta for at least 5 years they can purchase more than one property in Malta. Obviously since properties in Specially Designated areas have no restrictions, both EU and non EU citizens can purchase any number of properties here at any time.
Can a Foreigner rent a property owned in Malta?
Another question often asked is whether a foreigner (non EU citizen)can rent out his property once purchased. The answer is yes, when it is located in an SDE or when the property qualifies as a ‘superior’ and ‘comfort’ category to obtain a license from the Tourism Authority of Malta.
specific details for foreigners owning property in malta
For other specific details on what is required by a foreigner when purchasing a property in Malta, please contact us through our page link here : https://www.homesinmalta.com/contact/
