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The Maltese legal system is a developed and highly efficient mechanism, therefore, buying property in Malta is a safe proposition and further more there are few restrictions on foreigners purchasing property in Malta.

Once you have decided on a property to purchase and you have agreed a price with the seller, you will need to enter into a preliminary contract. This will be a legally binding document that will set out the various terms of purchase and the purchaser will usually be expected to pay a deposit of 10% to the notary. If the purchaser defaults on the sale, the seller will retain the deposit.

A notary will then be employed by the purchaser to complete the property searches and ensure that the correct titles are in place. They will also complete the necessary government paperwork.

Once the notary confirms that the documentation is in order, the final contract of sale will be executed by both the seller and buyer and the sale fees will be paid.

The following fees are representative of a property purchase in Malta:

Stamp duty - 5%
Notary fees - 1%
Deposit - 10% of the price of the property
Full payment - 90% of the remainder of the agreed price for the property
Searches and registration fees - 250

The seller of a Maltese property will be expected to pay estate agency fees.

There are some stipulations mandated by the Maltese government with regards to the purchase of Maltese property by foreigners, however, these are usually formalities that the notary will complete. Essentially the notary will need to apply to the Maltese Ministry of Finance requesting permission and the decision will usually be granted within 3 months. The property being purchased must cost more than 70,000 if it is an apartment and more than 120,000 if it is a house.

There are currently no restrictions on foreign property investors letting property in Malta.

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