Below you will find answers to some of your initial questions regarding purchasing property in MALTA
Despite the fact that real estate purchase in Malta is a relatively easy process, there are some definite restrictions that apply to foreign nationals who are interested in purchasing real estate in Malta.
Generally speaking, a foreign national can purchase a residence in Malta that is going to be used either as a holiday home or a purchaser's primary residence in the future. In addition to this general restriction, there are some more specific requirements when it comes to a foreign national investment in real estate in Malta.
First of all, the value of the real estate that is being purchased must not be less than €116,500. Secondly, the real estate purchased cannot be rented out to anyone else unless it is in one of the many “designated areas” around the islands or it has a private swimming pool.
On resale, a foreign national can repatriate the funds generated from the sale to his or her own country of origin.
Once these restrictions are appreciated and understood, the actual process of buying and selling real estate in Malta is simple. The initial phase involves the execution of a contract for sale. At this time, the buyer is obliged to post a deposit that is normally 10% of the overall purchase price of the real estate.
There are a multitude of answers to this question, depending on exactly what you are looking to benefit from in Malta. It could be the highly favourable tax regime known as the Permanent Residency Scheme, the warm climate, the safe, English speaking laid back island-life environment, the excellent schooling and medical facilities or even a profitable business or retirement decision. Whatever your motive, Malta is a central, well served, politically and financially stable European state and suits the criteria of many international investors and homebuyers alike.
The Maltese Islands are located just 60 nautical miles South of Sicily, right in the centre of the Mediterranean Sea and just over 150 nautical miles North of Tripoli (Africa) and has always been the ideal stepping stone for trade between the two continents. It is therefore well served by an abundance of major airlines. (Alitalia, KLM, Lufthansa, British Airways, Emirates, Airmalta, Ryanair, Easyjet – to mention a few)
There are also boat transfers twice a week between Malta & Sicily.
Third-country nationals may enter and travel within the territory of the Member States applying the Schengen provisions for a period not exceeding three (3) months (90 days) in any six-month period (180 days), provided they fulfill the entry conditions laid down in the Schengen acquis, now integrated into the EU. Special rules apply to non-EU national family members of EU citizens, with differing travel rights according to whether they are travelling with the EU citizen or travelling alone. In addition, a valid residence permit issued by an EU Member State applying the Schengen provisions can permit a non-EU national to travel to other Member States in the Schengen area without a visa.
CENTRAL AFRICAN REP
DEM REP OF CONGO
NORTHERN MARIANAS (IS)
PAPUA NEW GUINEA
SAO TOME & PRINCIPE
ST LUCIA ST VINCENT
TRINDAD & TOBAGO
UNITED ARAB EMIRATES
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