Planning to purchase immovable property in Malta? What is the common procedure for buying real estate for foreigners? What are the benefits of investing in Malta? Find out the detailed information right here.
How to buy real estate in Malta?
Purchasing immovable property in Malta is absolutely safe and easy. If you are looking for the best place to invest your money, the European island might become your number one option. The matter is that when investing in Maltese real estate market, you will not face with any language barrier since most Maltese speak English fluently. Moreover, investing in Malta with significant sums of money makes you eligible to obtain a country’s citizenship by investment. For more details, visit https://imperiallegal.uk/immigration/citizenship-by-investment/malta-passport/
Buying real estate in Malta for foreigners
- Choose the property and sign the Promise of Sale, also called Konvenju. This agreement is legally bidding seller and buyer.
- Pay 1% of the 5% provisional stamp duty
- Pay a deposit (as a rule, the deposit is around 10% of the sales price)
- Visit Notary Public to do all the paperwork
- Pay taxes and apply for certain permissions, depending on which type of property you are going to purchase
The process of buying real estate in Malta might seem confusing for some investors. Imperial&Legal is ready to assist you with buying your immovable property in Malta easier and quicker.