Many foreigners are looking to invest in Malta thanks to the island’s natural beauty and growing economy. No matter what your reason is for your interest in Malta property, the purchase of a home or commercial property is a big transaction to deal with. For many, it is the most important transaction of their life. When it comes to property conveyancing, we offer our clients assistance throughout the entire process to ensure things go smoothly.
The procedure of property conveyancing can be summed up to two general steps:
the creation of the promise of sale, then the final contract agreement of property conveyance. This process must be followed when purchasing stationary property in Malta to ensure property title transfers are made securely. Especially in the case of acquiring property as a non-resident, many considerations need to be made.
Property Conveyancing Without Residency
Maltese law governs that certain procedures need to be conducted in order to allow an immovable property to be attained by those who are non-residents. Certain circumstances need to be met as well. An exception is if a citizen of the EU has resided in Malta for a period of over five years (continuously), then the non-residency restriction is removed.
Property Permissions in Malta
When it comes to property located in certain locations known as Special Designated Areas (SDAs), non-residents are able to acquire property freely here without the aforementioned restriction.
Those who are citizens of the EU are not required to obtain a permit when purchasing a home for residency. No matter what your specific circumstance is, we will take you through the process of negotiation in order to ensure your interests are protected and that the requirements are met.
Turn to Us for Assistance in Malta Property Conveyance
Our real estate experts are experienced with drafting & negotiating the deeds of sales and sorting through the required documents in order to have a smooth transaction.
The transfer of property titles, particularly to non-residents, requires great attention to detail to ensure the legality of the agreement. If any permits are required for you to obtain your property, whether it be residential or corporate, we will help you with getting those permits so you can qualify for the title transfer.
Before we allow the process to go through to the final step of property transfer, we always make sure the property in interest is well inspected to rule-out any structural defects and that Maltese planning and sanitary requirements are met.
Proper steps will also be taken to ensure that the property has a good standing title and no third-party claims. This is in your best interest so any problems can be addressed before the property becomes your responsibility.
Loan Financing Assistance
If you are in need of a loan in order to acquire property in Malta, we can help you through this process as well. The loan will typically be financed through a bank and you will be required to provide information such as:
Official documentation of your identity
Recent paycheck or pay slip
Form FS3 completed
Estimated property value
Copy of preliminary agreement
Contact PDC Malta Today
Here at PDC Malta, we offer people like you assistance for many different activities in Malta. Whether you are looking to obtain residential property, commercial property, or want to open a business, we can help you out.
Get in touch with us today and we can discuss how we can assist in reaching your goals. +356 9932 2300