Malta — Property: Buying Process

Key facts

• The buyer must register with the Malta Individual Investor Programme (MIIP) if purchasing a property over €275,000.
• A 'pre-emption right' exists, which allows the Maltese government to purchase the property at the agreed price if the seller declines to sell it to a Maltese citizen or resident.

Steps

1. Step 1: Finding a property — Work with a reputable estate agent to find a suitable property. The agent will guide you through the sales process and ensure all necessary paperwork is in order.
2. Step 2: Making an offer — Once you've found a property, the estate agent will help you make an offer on the property. The offer must be in writing and will typically be accepted or rejected within a few days.
3. Step 3: Notarization — The sale of property in Malta is typically notarized, and the notary will conduct the necessary checks. This includes verifying the identity of the buyer and seller, as well as ensuring the property is free of any liens or mortgages.
4. Step 4: Registration — After the sale has been notarized, the buyer and seller must register the property with the Maltese authorities. This includes registering the transfer of ownership and updating the property's title deeds.

Costs

• Stamp Duty: 5% of the purchase price

Timelines

• Pre-emption period: 2-6 months
• Registration period: 2-4 weeks

Required documents

• Valid passport
• Proof of income
• Proof of identity
• Proof of address

Common mistakes

• Not registering with the MIIP if purchasing a property over €275,000.
• Not working with a reputable estate agent.

AI confidence note (remove before publishing)

The information provided is based on general knowledge and may not be up-to-date or accurate. It's recommended to consult with a local expert or attorney to ensure all necessary steps are taken during the buying process.