ARTICLE
20 December 2017

Acquisition Of Immovable Property In Malta

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GVZH Advocates

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GVZH Advocates is a modern, sophisticated legal practice composed of top-tier professionals and rooted in decades of experience in the Maltese legal landscape. Built on the values of acumen, integrity and clarity, the firm is dedicated to providing the highest levels of customer satisfaction, making sure that legal solutions are soundly structured, rigorously tested, and meticulously implemented.
The acquisition of immovable property in Malta may be restricted for some individuals, due to nationality and certain conditions.
Malta Real Estate and Construction
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The acquisition of immovable property in Malta may be restricted for some individuals, due to nationality and certain conditions.

The Inland Revenue Department has drawn down the following chart to facilitate the interpretation of the rules when it comes to the acquisition of immovable property in Malta.

Maltese and EU Citizens – both with 5 years continuous residence in Malta Maltese and EU Citizens – without 5 years continuous residence in Malta Non-Maltese and Non-EU citizens
Primary Residence No restrictions – No need to apply No restrictions – No need to apply Prior authorisation is required*
Secondary Residence or any other immovable property No restrictions – No need to apply Prior authorisation is required* Prior authorisation is required*
Property in a Special Designated Area** No prior authorisation is required and no limit No prior authorisation is required and no limit No prior authorisation is required and no limit
Immovable Property required for the person's business activities' or supply of services by such person No prior authorisation is required and no limit No prior authorisation is required and no limit No permit granted unless required for an industrial or touristic project or as a contributor to the development of the economy of Malta

*A permit will not be granted if applicant has already acquired immovable property in Malta – an exception however lies with 'Special Designated Areas'

The easiest derogation from these rules is that of the Special Designated Area, whereby there is no restriction on the number of properties one can buy in a Special Designated Area and there is also no restriction on the nationality of the purchaser.

** The Special Designated Areas are the following:

  1. Portomaso Development, St. Julian's, Malta
  2. Portomaso Extension I, St Julian's, Malta
  3. Cottonera Development, Cottonera, Malta
  4. Manoel Island / Tigne Point, Tigne/ Gzira, Malta
  5. Tas-Sellum Residence, Mellieha, Malta
  6. Madliena Village Complex, Malta
  7. Smartcity, Malta
  8. Fort Cambridge Zone, Tignè, Malta
  9. Ta' Monita Residence, Marsascala, Malta
  10. Pender Place and Mercury House Site, Malta
  11. Metropolis Plaza, Gzira, Malta
  12. Fort Chambray, Ghajnsielem, Gozo
  13. Kempinski Residences, San Lawrenz, Gozo
  14. Pender Place and Mercury House Site, Extensions I, II, III, IV and V, Malta
  15. Vista Point, Marsalforn, Gozo

By means of Legal Notice 349 of 2017, the Quad Business Towers have been added to the list of the special designated areas. Therefore, non-residents wishing to buy property at the Quad Business Towers will not require a permit as in special designated areas there are absolutely no restrictions for acquisition.

The four Quad Business Towers are expected to cover an area of approx. 11,000 square meters, and the project will range from 13 to 19 storeys, organised around a central piazza.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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