Frequently Asked Questions

1-1 What type of property can one rent?

One can choose from Apartments, Penthouses, Houses, House of Characters, Villas ( with or without pool), Maisonettes and Farmhouses.

1-2 What is considered to be a short let?

A short let is from 1 day up to 6 months.

1-3 What is the length of a long let?

The minimum period for long let is 6 months and over.

1-4 Are there any other charges when renting a property?

One can pay for extra commodities that are:
Cable Television
Internet
Telephone
Utilities

2-1 What is the current rate of stamp duty?

3.5% on first 116,468 euros and 5% on the rest of the amount and 1% of which on signing of Preliminary Agreement.

2-2 If I own my own residence and would like to buy a second property, what is the stamp duty?

5%

2-3 Can a foreigner buy more than one property?

No, Unless the property is found in the following designated areas: Manoel Island, Tigne Point, Pender Gardens, Tas-Sellum Portomas, Cottonera, Chambray. In EU nationals however one can buy a property after they have been residing in Malta for 5 years.

2-4 What is the procedure to purchase immovable property in Malta?

When the buyer identifies the immovable property that he wished to purchase, he should enter into a written agreement (convenium) a copy of which must be attached to the AIP application form obtainable from the Capital Transfer Duty Department of the Inland Revenue Division or downloaded from their website.

2-5 How long does the application take to be processed?

In accordance with a Quality Service Charter, the AIP Section is committed to issue the requested permit within 35 days subject to application submitted being correct.

2-6 What do I need to submit with an application to acquire property in Malta?

You need to attach the following documents with the relative application form filled in:

(1) two passport sized photos;
(2) a copy of promise of sale; (convenium)
(3) photocopy of passport showing details
(4) proof of income
(5) details of existing loans (if applicable)

2-7 What is an A.I.P permit and its fees?

Any non Maltese national who wishes to buy a property here in Malta needs to apply for an A.I.P that is an Aquisition of Immoveable Property. This permit is applied through the Ministry of Finance and the fee is 233euros.

2-8 After how long can a foreigner apply for his citizenship?

One can apply for citizenship in Malta after 5 years.

2-9 Can a foreigner obtain a loan in Malta?

Yes, banks in Malta grant loans up to 90% of the property value.

2-10 What is convenium?

Konvenju, Promise of Sale and Preliminary agreement all mean the same thing. It is an agreement made between parties and is usually signed under the Notar to undertake a sale or tranfer of property.