New Law: Long-Term Residents in Malta No Longer Need AIP Permits
If you're a long-term resident in Malta, you're in for some good news. The Maltese government has updated the law in your favour!
📣 Heads Up, Long-Term Residents! The Immovable Property Act (Acquisition by Non-Residents) Act was updated.
The law now states that long-term residents, also known as Third Country Nationals (TCNs), no longer need an AIP permit to acquire property in Malta.
What Was the AIP Permit?
The AIP (Acquisition of Immovable Property) permit was a requirement for non-Maltese residents to buy property in Malta. It was a lengthy process involving paperwork and waiting times.
Why It Matters?
- Simpler Process: No more paperwork for AIP permits.
- Time-Saving: You can focus on finding your dream property.
- More Opportunities: Easier to invest in the Maltese property market.
Who Can Buy Property Now?
- Residents of Malta: No permit needed.
- Citizens of Malta or EU Member States: No permit needed for secondary residence purposes.
- Long-Term Residents (TCNs): No permit needed, thanks to the new law!
What to Do Next?
- Check Your Eligibility: Make sure you qualify as a long-term resident.
- Consult Legal Advisors: Other legal requirements may still apply while the AIP permit is gone.
- Start Property Hunting: With the legal hurdle cleared, you're free to explore the property market.
Final Thoughts 🌟
This change is a big win for long-term residents in Malta. It simplifies the property acquisition process and opens up new opportunities. If you're a long-term resident, it might be time to look for that dream property!
Feel free to reach out with any questions or for more information!