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Purchase a Property in Malta

Purchase a Property in Malta

Updated on Tuesday 19th April 2016

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Malta is one of the islands that attract tourists every year due to the beauty of the Mediterranean Sea. The island country is attractive not only as a touristic destination, but also as a business location. Foreigners choose to purchase a property in Malta both for their own personal use and as the headquarters for their business in Malta.  
 
Our lawyers in Malta are ready to offer you the necessary assistance to find the perfect property for your needs.
 
Steps for purchasing a property in Malta
 
When looking for a property, the buyer needs to search for specific locations and buildings that will fulfil all his requirements. Preparation is important and although the process may take some time, with the right help, it does not have to be stressful. Real estate agencies can advise and help you find the best real estate options in Malta.
 
The first step when buying a property in Malta is agreeing the price and signing a preliminary agreement with the seller. By signing this agreement, both parties undertake to complete the purchase transaction in due time. A deposit is usually requested when the preliminary agreement is signed. The percentage may vary, but a usual amount is 10% of the property’s price.
 
A notary in Malta will then draw up all the necessary documents and he will verify if the property is in ready to be sold (the property must not have debts or mortgages). The buyer may need to complete certain forms and obtain legal permits, if it is necessary and if it is stipulated in the preliminary agreement.
 
The final deed is signed at a date agreed upon by both parties. This is usually done in front of a notary. According to the Maltese law, the owner will have to register the property at the Lands Registry within 15 days after signing the final deed. The registration is mandatory, even if the property was previously registered. Our Maltese lawyers can help you throughout the registration process.
 
 
Other information about properties in Malta
 
Before buying a property in Malta, it is recommended that you perform a real estate due diligence. This will guarantee that your investment is safe and that you will not encounter any problems during the purchase process. Our lawyers in Malta recommend starting this procedure immediately after signing the preliminary agreement.
 
Our law firm in Malta offers complete assistance for various legal procedures. Our Maltese lawyers can help you open a company in Malta. Please contact our attorneys in Malta for more information.
 
 
 

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