A snap shot of the various Residence Programmes currently accommodated by Malta’s strategic legislative framework.
Malta’s accession to the EU and subsequent establishment as a European domicile of choice across various key industries (including financial services, remote gaming and e-commerce), has directly contributed to the jurisdiction’s increasing popularity as a place of permanent residence and a hub for international business transactions, resulting in the cumulative demand for the taking on lease of both residential and commercial property in Malta.
On the 1st January 2017, the Family Business Act (Chapter 565 of the laws of Malta) came into force in Malta with the aim of, inter alia, encouraging the regulation of family businesses, their governance and the transfer of the family business from one generation to the next, thereby assisting family businesses to enhance their internal organisation and structure with a view to working towards a seamless and effective succession of the family business.
Townhouses, farmhouses, penthouses, houses of character, villas, bungalows, maisonettes, country views, sea views. You want it, Malta’s got it.
Citizens of all European Union member states, including therefore Maltese Citizens, who have resided in Malta continuously for a minimum period of five years at any time preceding the date of acquisition may freely acquire immovable property without the necessity of obtaining a permit under the Immovable Property (Acquisition by Non-Residents) Act – Chapter 246 of the Laws of Malta (the “AIP Act”).
Citizens of all European Union member states, including therefore Maltese Citizens, who have not resided continuously in Malta for a minimum period of five years may only purchase their primary residence or any immovable property required for their business activities or supply of services without the necessity of obtaining a permit under the AIP Act.