If
you are planning to rent out your home in Malta as a holiday
let, you will have to apply for a permit to do this.
In most cases this is just a formality, but when looking for
a property you should check with your solicitor what the current
requirements are for rental permits to ensure that your property
will meet them.
Income earned through renting will be subject to Maltese income
tax of 15%.
Selling or Inheriting
There is no Capital Gains Tax or Inheritance Tax in Malta
but in the event that you do sell (or inherit) a property,
the transaction will be liable to Maltese Transfer
Tax.
Maltese
Transfer Taxes range from 5% to 35% depending on
the circumstances of the transfer - you should take professional
advice if you are concerned about the details of this tax.
Glossary of Key Maltese
Terms
AIP - Application of Immovable Property -
a permit to buy a property in Malta
Convenium - Preliminary Agreement - a initial
sale contract when buying a property
Konvenju - see Convenium
Lm - Maltese Lira, the currency in Malta
Lira - see Lm
Notary - A publicly-employed solicitor who
performs property sales in accordance with the law
