• Repatriation of Sale Proceeds
• Selling Procedures
• Services to Sellers
• Capital Gains Tax

The sale proceeds including all profits can be repatriated in whatever currency and to whichever country the seller chooses. Following the signing of the final deed of sale, 1 STOP Property Services Ltd., will be able immediately repatriate the sale proceeds to vendor’s account overseas. Furthermore, through special arrangements that we have with leading foreign exchange brokers and financial institutions, we are able to secure favorable rates of exchange prevailing at the time. 

We, 1 STOP Property Services, will help you step by step of the way before, during and after the property sale in all aspects of the property sale including the searching for prospective clients, negotiating the price and terms on your behalf, advise you on the procedures and steps to ensure a smooth transfer, from the sale of your property to the purchase of another property.

Once you have found a buyer for your property and have agreed on the sale price, terms and conditions, you sign a promise of sale agreement (preliminary agreement) with the buyer.

This agreement, which is drawn up by the Notary, binds both parties until the signing of the definite deed (contract).

On signing of the promise of sale agreement (preliminary agreement) a deposit (normally 10%), on account of the price, is normally lodged with the Notary by the buyers. This deposit will be forfeited in your favour should the buyer fail to sign the definite deed (contract) for no valid reason at law.

The term of validity of the promise of sale agreement (preliminary agreement) is agreed between the parties concerned.

During the term of the promise of sale agreement (preliminary agreement) and the definite deed (contract);

• The Notary (employed by the purchaser)  must register the said promise of sale agreement (preliminary agreement) with the Commissioner of Inland Revenue
• The Notary carries out all the necessary searches on the property and verifies clear legal title, to check that there are no outstanding debts, hypothecs or liens on the property and also has to apply for any AIP (Acquisition of Immovable Property) permits if necessary.

You have no restrictions whatsoever on what price to sell your property. In the case of Foreign Nationals, the entire sale price, including the sale of movables, may be repatriated abroad, in which case, the Notary would apply for clearance from the local Tax authorities, prior to signing the definite deed of sale (contract).

We, 1 STOP Property Services, will help you step by step of the way before, during and after the property sale in all aspects of the property sale including the searching for prospective clients, negotiating the price and terms on your behalf, advise you on the procedures and steps to ensure a smooth transfer, from the sale of your property to the purchase of another property.

• We will give you a FREE market valuation of your property
• We will include your property details, information and pictures on our database
• We will feature your property details on our Website and advertise it abroad to make your property also accessible to potential foreign buyers.
• We shall market and promote your property through local and overseas media
• We will promote your property through our Real Estate partners abroad
• We will advertise your property through our Newsletter therefore accessing thousands of local and foreign buyers
• We also organize inspection visits by prospective foreign purchasers who specifically come to Malta to look at property
• We will bring prospective clients to view your property.
• We will forward you ALL offers from any prospective clients
• We will help you negotiate the best possible deal to achieve a successful sale
• We shall inform you about related laws and proceedings should you require
• We will liaise with architects, notaries and legal advisors, financial and tax consultants, on your behalf in order to conclude the property sale at the most favorable conditions
• We will assist your property buyer should he require bank finance.
• We promise to do whatever we can to help you make your property transaction as smooth as possible.

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Should you require additional information please contact us

Capital gains tax is not applicable when the property being transferred has been the owner’s own residence for at least 3 consecutive years immediately preceding the date of transfer and has been disposed of within 12 months of vacating the property.
If the property being transferred has not been the owner’s own residence then the seller is liable to pay capital gains tax up to a maximum rate of 35% on the net profit made (this applies even to Maltese Nationals).

If the property being transferred has NOT been the owner’s own residence and is sold within 5 years from date of acquisition, then the vendor has the option to choose to be taxed (A) a capital gains tax based on the gains realized after taking into consideration the cost of purchase, contract  expenses , as well as any improvements carried out on the property or (B) a final withholding tax equivalent to 12% of the total sale price of the immovable property.

If the property being transferred has NOT been the owner’s own residence and has been owned by the vendor for a period exceeding 5 years, Capital Gains Tax is charged at a final withholding tax rate of 12% of the sale price of the immovable property.

Capital gains tax on the sale of the property acquired through inheritance (Causa Mortis) is charged at the rate of 12% on the difference between  the transfer value as declared in the Causa Mortis and the total sale price of the immovable property. If the property was inherited before the 25th November 1992, then the rate of tax will be equivalent to 7% of the transfer value of the immovable property

In certain cases where Capital Gains may be due, we may with the assistance of our professional contacts,  apply to the Commissioner of Inland Revenue for an exemption (complete or partial) capital gains tax reduction through the submission of the relative tax returns and a detailed account of all expenses incurred in the acquisition and sale of the immovable property.