AIP Permits | Buying Property in Malta
An AIP permit is a Government authorization required by non-residents looking to purchase property in Malta. An AIP permit for the acquisition of immovable property is granted subject to the fulfillment of the following conditions, namely:
1. The immovable property must have a minimum value, which is categorized as follows:
- House or villa:- €169,850;
- Apartment/flat or maisonette:- €101,938.
Where the property is still in shell form or unconverted, completion costs shall be inclusive of the total amount.
Properties of a historical interest or properties which are located in a historical area cannot be purchased. To this effect, an architect shall be inspecting the property and deciding whether it is of historical importance or not.
2. The purchased property must be intended for:
- Personal residential use of the applicant exclusively;
- Other purposes approved by Government;
- An approved industrial or touristic project;
- Any other project or purpose which is considered to contribute to the development of the Maltese economy.
3. Documentary evidence relating to the origin of foreign funds having been transferred to a Maltese bank account must be produced before the final signing of the contract.
4. One property only can be purchased in Malta and Gozo. An exception however lies with ‘Special Designated Areas’.
Buying a property in a ‘special designated area’ means that foreign purchasers buy under the same conditions as Maltese Nationals. In other words, they may let out the property, buy in the name of individuals or a company, and purchase more than one unit.
5. Resale of the property located in 'Special Designated Areas' is only allowed to a Maltese Resident.