Benefits of Property Purchase in Malta by Non-residents
Benefits of Property Purchase in Malta by Non-residents
Benefits of Purchasing Property in Malta
1. Resale of property is allowed at any time. Property being resold after being used as the sole and ordinary residence for three years will be exempt from property tax or taxation on any capital gains arising on the sale.
2. Malta imposes no restrictions on the repatriation of capital. Indeed, Malta doesn't have any exchange control restrictions for quite some time now.
3. Mortgages are available at internationally competitive rates from leading local and international banks present on the island. Home loans are available for the purchase of property Maltese residents and non-residents for holiday homes, investment properties, rental property, commercial property or first home property as long as adequate guarantees can be provided and a viable case for repayment is provided to the bank.
4. Renting out of property purchased is allowed in some cases.
5. Fast process leading to granting of AIP Permit (permit required for the acquisition of property in Malta by non-resident non-EU nationals.
6. More than one property can be purchased in Malta in Specially Designated Areas.
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