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Non EU Buy apartment Malta

Last activity 07 January 2014 by Spiridonov

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EM12

Hi I just wonder if anyone can answer my question. If a non eu person (from costa rica) wants to buy an apartment ¨
here in Malta and reside is he allowed to do so? And not like now ..he got that schengen visa..
If he buys can he apply like for normal residence in malta and is it gonna be easier to get it approved since he owns an apartment in malta? thx EM.....

GuestPoster566

Personally, I would never buy property out here and never advise anyone to do so, unless they were very rich and can afford to do without the money as it would be very difficult to be able to sell on.

EM12

Hi again..i c... but will that make it easier to get approved to stay in Malta more than the 3 months..?

GuestPoster566

I don't know, just offering generally agreed advice.
Have a look around these topics, perhaps the answer may be there?
https://www.expat.com/en/guide/europe/m … ities.html

I expect Ricky or another senior member may be able to help.

ricky

Hi EM12,

the answer is no.

Unless the non-EU person applies under HNWI where a certain amount of capital is required and quite high yearly minimum tax payments in Malta.

Maybe there will be the chance to buy a Maltese passport soon. THe price will be upwards of 1 Mill. Euro's. But the details have not been decided on yet.

A non-EU foreigner can only buy in certain designated areas ( like Portomaso,Fort Cambridge and others) but it does not give any residency rights. These will have to be applied for on their own merits.

Cheers
Ricky

georgeingozo

Anyone can buy an apartment, but no residency rights result from the purchase

Spiridonov

You can buy an apartment without any problem (you can even obtain the mortgage loan from the local bank for it), but there is no any benefits from this ownership. Even for visa - you still will apply for schengen visa exactly on the same basis as every other tourist (except of hotel booking requirement).

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