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How can I use my purchased property as Airbnb or rental and keep compliance with the Malta Individual Investor Program?

Under the Malta Individual Investor Program, I understand that if I choose the real estate purchase route, I will have to maintain it for at least five years. I also understand that the property should be used as my own residence. But what if I would like to use one part of the property for Airbnb or another vacation rental service? I would still be living on my property but also want to generate some side income. How can I make this kind of arrangement work so that it doesn’t impact my compliance with the requirements of the program?

Answers
  • Nicky Gouder
    Seed Consultancy
    July 04, 2018

    Legal Notice 47 of 2014 specifically states that the purchased or leased property cannot be let or sublet. In theory, subletting part of the property as an Airbnb will not impact the owner of the property completely, since he would still be residing at the property in question. The clause in the legal notice safeguards the notion that the applicant will be required to retain a residence in Malta where he would be staying. Nonetheless it vaguely fails to go into specifics about subletting parts of the property while still being able to reside at said property.

  • Elena Koltsova
    Family Office Limited
    June 22, 2018

    Unfortunately, you cannot rent your property under the MIIP, both in whole or in part.

  • James Scerri Worley
    Advocates Primei
    June 25, 2018

    You cannot use your property bought as a qualifying investment for any rental or commercial activity.

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