Ecovis Global > AIP permit Malta: Buying property in Malta as a Foreigner
AIP permit Malta: Buying property in Malta as a Foreigner
9. November 2023
The Maltese government welcomes applications from non-residents to purchase property in Malta by applying for an Acquisition of Immovable Property (AIP) permit. The rules for this have been simplified, as the Ecovis consultants explain.
With the property price index increasing by 6.6% in the first quarter of 2023, compared with the same period in the previous year, the possibility of acquiring immovable property in Malta provides an interesting opportunity for investors. To facilitate such acquisitions and attract foreign residents to acquire property in Malta, while at the same time preventing adverse effects on local demographics, the government welcomes AIP applications.
European Union citizens
Under Maltese law, citizens of EU Member States, who have resided in Malta continuously for a period of five years, may freely acquire immovable property without the need for an AIP permit. Those who do not meet the minimum 5-year residence requirement will not require a permit when purchasing their primary residence or immovable property for their business activities or the supply of services. However, they must obtain an AIP permit to acquire immovable property for secondary residence purposes.
If you have any questions about purchasing property in Malta and the required permits, please feel free to contact us. Dr Roberta Avellino Pulé, Senior Legal Consultant, ECOVIS Malta, Mosta, Malta
Non-EU citizens may only acquire immovable property in Malta if they are granted an AIP permit under Maltese law. The law, however, stipulates that there are no restrictions on the acquisition of immovable property in zones defined as ‘Special Designated Areas’ (SDA) where individuals may purchase their second property without the need to apply for a permit.
SDAs are areas of property development that are usually found in exclusive locations boasting properties of very high standards. These provide ideal investment opportunities for both EU and non-EU nationals alike.
For further information please contact:
Dr Roberta Avellino Pulé, Senior Legal Consultant, ECOVIS Malta, Mosta, Malta Email: firstname.lastname@example.org