When the prospective buyer identifies the immovable property to be acquired, such buyer enters into a written agreement – promise of sale. Thereafter, the buyer needs to identify whether an acquisition of immovable property permit is required.
EU citizens who have resided in Malta continuously for a minimum period of five years preceding the date of acquisition of immovable property in Malta may freely acquire such property without an AIP permit. EU citizens who have not resided in Malta previously may acquire immovable property in Malta without an AIP permit if such residence is considered to be primary residence. In this regard, if such property is considered to be a secondary residence, an AIP permit is required. Non- EU citizens require an AIP permit when acquiring property in Malta Property situated in special designated areas or inherited property can be acquired without having an AIP permit. Companies operating within the EU may be acquired immovable property in Malta freely as long as this property is acquired for the purpose for which the company has been set up and is directly controlled by EU citizens. Commercial partnerships established and operating within the EU may acquire such property if such is acquired for the purpose for which the partnership has been set up and at least 75% of its share capital is held by EU citizens.
