Buy a House in Malta - Property Lawyers in Malta
Purchase a Property in MaltaUpdated on Wednesday 21st December 2022
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|Can expats buy properties in Malta?||No restrictions are imposed for foreigners wanting to buy a property in Malta, except state-owned properties.|
Legislation for property purchase in Malta
- Immovable Property Act in Malta,
- Malta's Property Code and Regulations
Types of properties you can buy as a foreigner
- residencial properities,
- office spaces,
- hotels etc.
|Property inspection before purchase (YES/NO)|| |
|Pre-sale agreement required|| |
A preliminary agreement, signed at a public notary, is mandatory for buying a property in Malta. This documents must be signed by parties involved in the transaction.
|Documentation verification made by our law firm in Malta|| |
Our Maltese lawyers can verify the documents of the property about to be purchased. Among them, the Title Deed, Land Register extracts, preliminary agreement.
|Content of a sale-purchase contract of a property|| |
- property information and description, with details about former and future owners,
- terms of acquisition,
- payment method,
|Real estate tax in Malta|| |
- 8% tax rate for property sale in Malta,
- 5% tax rate for property acquisition
|VAT for property purchase in Malta|| |
No VAT imposed for sale and purchase of a property in Malta
|Can a lawyer in Malta represent you with a power of attorney?|| |
We can represent clients from abroad who want to buy a real estate property in Malta.
A power of attorney allows us to sign varied documents.
|Possibility to buy without visiting Malta|| |
Yes, property purchase is possible for overseas citizens without traveling to Malta.
|Residence permit issued for buying property in Malta|| |
Malta Residency and Visa Program are dedicated to foreigners who want to buy properties in this country in exchange for residence.
The minimum value of the property to enter the scheme is EUR 220,000.
|Citizenship application permitted|| |
Yes, through Malta Citizenship by Investment. Financial implication starts at EUR 600,000.
|Buying a property in Malta through mortgage|| |
Applicants can be helped by mortgage brokers. It is mandatory to open a bank account in Malta and then wait for the approval of the Maltese Central Bank for your loan.
|Legal services offered for buying a property in Malta|| |
- preparation of preliminary agreement,
- sale-purchase contract,
- real estate due diligence,
- power of attorney for clients from overseas
The main steps to buy a property in Malta
- ask for the services of a real estate agency in the case of foreign buyers who are not acquainted with the market;
- verify the property first – this implies a real estate due diligence process during which the property is checked with various institutions;
- reach an agreement with the seller and sign a pre-sale contract by paying an advance on the property;
- complete the purchase of the property and register it with the Maltese Land Register.
Due diligence before you buy a house in Malta
Foreign citizens buying real estate in Malta
The procedure of purchasing a property in Malta
Registering the property after the purchase
Obtaining residency in Malta
Purchasing a property as a retire in Malta
How to buy an apartment in Malta
A short guide for foreigners - How to buy a house in Malta
- The first thing you need to do is apply for AIP in Malta. The Maltese authorities will provide you with the necessary permit.
- It is recommended to hire the services of a property lawyer in Malta to be able to make the necessary legal checks related to the house.
- The next step is to look for the real estate property you wish for, either by calling an agent or searching on dedicated platforms.
- Once you find the property you want, you can negotiate the price and talk to the seller. And here you can be helped by condominium lawyers in Malta.
- After checks and negotiations, it is possible to sign a preliminary agreement with the help of which to establish the dates of the transaction.
- Next is the payment of 10% of the value of the house in Malta, to ensure that you will come into possession of it.
- The sale-purchase documents will be signed in front of the notary, following which they will also be submitted to the Land Registry in Malta.
- Once the transfer of the rest of the money is done, the new owner can take possession of the house.
Applying for a house loan in Malta
FAQ about property purchase in Malta
Various aspects related to buying Maltese real estate
- upon the signing of the pre-sale agreement, a 10% advance payment is usually made in order to retain the property;
- 1% of the value of the property must be paid to the public notary as a stamp duty when buying the property;
- the other 4% of the stamp duty must be paid after completing the purchase (no later than 15 days after buying the property);
- the value added tax for real estate transactions in Malta is set at 18%;
- a real estate agent fee representing 3.5% of the value of the contract should also be paid (if the buyer used such services).