Malta is an ideal place to buy a property, especially if you are an EU citizen. Historic landmarks, great climate, world-class marina, and its rich culture are factors that make it an ideal destination for your second home.
However, it is important to ensure that you meet the following conditions when buying a property in Malta as a foreigner (non-EU citizen):
- The buyer should obtain an Acquisition of Immovable Property (AIP) permit from the Ministry of Finance in Malta.
- The property's minimum value should be €70,000 (if investing in flats) and about €117,000 in the case of other real estate properties.
- The buyer has to produce proof of the funds transferred from abroad.
- The buyer and family should use the purchased property and not rent it out to third parties.
Non-EU citizens are also allowed to buy real estate in Special Designated Areas (SDA’s) in Malta. If you are interested in these programmes, our experts can explain the eligibility conditions and pre-requisites for each of them.
Making the right investments to become a citizen
Property in Malta is a valuable asset. With the country’s thriving tourism industry, investors looking for rental returns are never disappointed.
Malta isn’t just a vacation destination, but it also favours retirees. The government offers retirement and residence programmes. Thousands of foreigners take up residence in Malta every year, ensuring stable growth of the real estate industry.
The Malta Global Residence Programme (MGRP) refers to applicants who can purchase a property with a value of a maximum of €275,000. This programme includes a series of benefits, like indefinite residence in Malta, free access to other European countries and a 15% tax rate on incomes registered outside and declared in the insular state.
Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment
The Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment issues Maltese passports for investors after making a qualifying investment in the nation. This programme suggests a direct investment with a minimum of €600,000 or €750,000 (in real estate), depending on the residence period selected (12 or 36 months). In addition to this, the investor has to donate €10,000 to a registered philanthropic, scientific, sport, cultural, artistic, or animal welfare non-governmental approved society or organisation.
Maltese citizenship is worth the effort as it comes with advantages, such as stability, privacy, comfort, mobility, security, and returns. It also provides visa-free access to the EU/Schengen area. Moreover, the tax system of Malta is particularly advantageous to foreigners with residential status as they are not taxed on foreign-sourced capital gains and foreign-sourced income not remitted to Malta.
If this intrigues you and you want to know more, remember we are just a call away..