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77 Great Estates • Blog

Malta has the lowest inflation in eurozone - Times of Malta

Last Updated on 23 January 2012

 

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Malta registered the lowest rate of inflation in the euro area in December, according to data issued by Eurostat.

The EU’s statistics office said the island’s inflation stood at 1.3 per cent, 1.4 per cent below the average in the 17-member eurozone.

The rate of inflation in December was, in fact, the lowest registered in Malta for the year, after the island registered a significant four per cent inflation in 2010.

Across the EU, the lowest annual rate of inflation last month was seen in Sweden (0.4 per cent) and Malta and Bulgaria (two per cent), while the highest was in Slovakia (4.6 per cent), Poland (4.5 per cent) and Cyprus (4.2 per cent).

Fuel used for transport, heating oil and gas and electricity once again had the largest upwards impact on the EU’s inflation rate.

Posted in: About Malta



Malta becomes biggest ship registry in Europe - Times of Malta

Last Updated on 23 January 2012

Malta becomes biggest ship registry in EuropeThe Maltese shipping register, confirmed as the largest merchant flag in Europe by Clarkson Research Services, has seen a continuous increase of superyacht registration. Photo: Jason Borg

 

For the first time in its maritime history, Malta has been confirmed as the country with the largest ship register in Europe.

Following a 16 per cent increase in tonnage, the island surpassed Greece

By the end of the year, 5,830 vessels – a total of 45.6 million tonnes – were registered under the Maltese flag, Transport Minister Austin Gatt has said.

“Following a 16 per cent increase in tonnage, the island surpassed Greece for the first time. Although it’s the smallest European country, Malta has the seventh largest ship register in the world,” he said.

Dr Gatt said that during 2011, the Maltese shipping register generated over €12 million in revenue for Transport Malta alone.

This significant achievement was mainly attributed to the register’s high-service quality which attracted reputable companies, Dr Gatt added. Applicants had to pass through a rigorous selection process and not every owner who expressed interest in joining the register was accepted.

The condition and the age of prospective members are a major factor in the determination of whether they would make it to the register.

Malta’s register listed various types of vessels, including cruise liners like the Royal Caribbean, and super yachts, which registered an increase of 18.6 per cent over the previous year.



The Promise of Sale Agreement by Dr Notary Clinton Bellizzi B.A., LL.D.

Last Updated on 03 January 2012

 

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A Promise of Sale (POS) is 2 unilateral promises: a promise to sell and a promise to buy

 

In sale of immovable property there needs to be an agreement in writing (private writing) specifying:

 

1:

Parties:  Buyer & Seller

2:

Object:  Immovable

3:

Price / Consideration

4:

Validity

5:

Other conditions

6:

Registration

 

 

1:  The Parties

 

Identification of parties: by means of ID cards/passports, father's name and surname, mother's name and surname, place and date of birth and current address with telephone number and email.

 

If Sellers are non-Maltese Citizens/residents or intend to leave the island before filing the following year's Income Tax return (June) a special Tax Clearance from the Commissioner of Inland Revenue (CIR) has to be applied for Sellers to authorise Notary to apply in their name.

 

If Buyers are non-EU residents, or EU residents who have not resided in Malta for over 5 years  or do not intend residing in Malta as their ordinary residence then an Acquisition of Immovable Property (AIP) application must be filed (POS to include this condition).

 

Current Minimum requirements:  €101,551 for flats/maisonettes and €169,205 for any other property; exceptions: Special Designated Areas (SDA).

 

 

2:  Object

 

Precise identification and description of the property to be transferred including any rights/servitudes, restrictions, accessories.  Ideally, one should have a copy of the Seller's title deed and take the description from it - one cannot sell more than what one actually owns.

 

 

3:  Price/Consideration

 

One has to determine exactly what the consideration for the sale is - amount, currency, modality of payment - Balance of Price on final deed?; Part Exchange; split pricing for movables / works (fiscal implications)

 

Deposit: not a requirement at Law - customary to deposit 10% as a sign of goodwill on part of Buyer

Deposit vs Earnest (Kapparra).

 

 

4:  Validity

 

If nothing is mentioned in the POS - term is for 3 months ex lege.  However, if no time limit is set and the POS is made subject to a suspensive condition (eg:  Development / Building Permits) then Courts have interpreted this time limit to start running from when the suspensive condition verifies itself.  If any of the parties does not appear on the final deed for no reason valid at Law – a Judicial letter demanding specific performance must be sent before the expiration  of the term.  Court case to be filed within 1 month otherwise POS is technically and legally expired - this procedure should NOT be used to extend the time limit in bad faith.

 

 

5:  Other conditions

 

  • Seller to give warranty of peaceful possession and real enjoyment in all sales – seller confirms that the property is really his/hers and there are no third parties who can raise any claims over the property
  • Soundness of structure and in line with building permits (Architect's report)
  • Bank Loan
  • AIP
  • Development Permits
  • Good title to property
  • Brokerage fees
  • Substitution by third parties (assignment of rights)

 

 

6:  Registration

 

Parties to POS are to authorise Notary to register agreement with CIR in their name within 21 days.  Payment of 20% of Duty on Documents due with registration.  Any extension to original POS is also to be registered within 14 days.  Any amendments to POS (price, property, parties) is to be notified in writing to CIR prior to publication of Final Deed.

 

Conclusion as Usual

Category:  Purchasing property in Malta

Where is:  http://77greatestates.wordpress.com/2010/06/01/purchasing-property-in-malta/

Posted in: Purchasing Property in Malta



Maltese fleet on top

Last Updated on 04 November 2011

 

Maltese fleet on top

 

Maltese boat Artie won this year’s Rolex Middle Sea Race. Photo: Rolex/Kurt Arrigo

Racing near two live volcanos and around 19 islands presents an endless challenge of a breathtaking course that only the Rolex Middle Sea Race can offer. Behind the beauty of landmark backdrops along the 606nm course, is an exceedingly 360-degree gruelling race that skippers of fame dream of winning.

No wonder that Grant Dalton, the Emirates Team New Zealand America’s Cup syndicate head, described the Rolex MSR as the Mediterranean answer to the other potentially treacherous offshore classics such as the Fastnet and Sydney-Hobart.

This year, we had an impressive setting of four consecutive starts with the breeze practically getting stronger with each start. In all, a 70-strong fleet, from 16 different countries, had assembled at Grand Harbour, providing every conceivable story of close competition, daring manoeuvres and outright determination to win.

Again, the tricky part of this race was over-riding the tidal gate at the Strait of Messina. Smart tactics to bypass the wind shifts from the large and small islands along the second part of the course were the winning factors.

It was so frustrating at times to endure hours of slight various winds that kept on disrupting onboard navigators and strategies.

The big boats in the race, the likes of Esimit Europa, RMSR 2009 winner Alegre and Ran, had to struggle at times to find the winning formula that the smaller boats were enjoying.

More than that, the eight Maltese entries were having a field day this time while engaging themselves in employing clever tactics using their local and multiple-experience participation of the RMSR.

Artie, which missed the winning post by a few minutes last year, actually had a slow start clocking in at 31st position at the first transit point of Capo Passero.

Realising their precarious position, skipper Chris Ripard and Lee Satariano, owner and co-skipper of Artie, recovered from their difficult start and by the time they got to the second transit point at the Strait of Messina, they had improved to 17th place.

A ride of that kind is satisfying as it provides the most extreme test of crew and teamwork.

At the third transit point of Stromboli, the best of the Maltese fleet had made it into the top 20 with Aziza seventh, Artie ninth, Ton Ton 11th, Otra Vez 12th, Jaru 15th, Vikesha 17th, Juno 18th and Elusive St Regis 20th.

Given the optimal weather conditions, anyone with a well-drilled crew could win and at Favignana, both Artie and Otra Vez were already challenging for top spot having only German boat Rockall to contend with.

From then, Artie kept the pressure, racing past Pantelleria and Lampedusa in the runner-up position. The rest of the Maltese fleet were not far behind either, with Otra Vez fifth followed by Ton Ton, Jaru, Juno and Elusive St Regis.

Incredible! At this point, the feeling was that it looked more like a local race than anything else. The only threat was coming from Rockall.

Tensions were running high for these two leading boats.

Mathematical calculations re-quired that Artie had to clock in on the fourth day at 18h 28m 08s with Rockall having more breathing space as it needed to finish at 20h 41m 50s, to outgun provisional leaders Ran on corrected time.

It was here that Artie showed their determination and expertise when, amazingly, they crossed the line on Wednesday at precisely 15h 22m 54s, thus forcing Rockall into a final run of do-or-die tactics as the German boat only had a few minutes to make it in the last 10 miles.

They never did.

In the end, not only did Artie win the prestigious MSR Trophy but Otra Vez placed third, Jaru fourth, Juno fifth, Ton Ton seventh and Elusive St Regis 11th.

The Royal Malta Yacht Club was buzzing after this outstanding result for Maltese boats.

George Bonello du Puis, the club Commodore, proudly em-phasised that this was a golden page in the RMSR history.

“What an amazing fleet of Maltese boats we have flying the eight-pointed cross,” he said.

“I am really proud of the achievements of our club and as a sailing nation too.”

 

For further information, kindly contact 77 Great Estates on (00356) 2125 2455; (00356) 9944 7444; skype: info.77GreatEstates or info@77GreatEstates.com

Posted in: Events



Old capital hosts timeless ‘beauties’ - Times of Malta by Bertrand Borg

Last Updated on 24 October 2011

Old capital hosts timeless ‘beauties’

Photos: Chris Sant Fournier

 

The silent city was awakened by the roar of finely-tuned vintage engines yesterday on the final day of the third classic car grand prix.

A range of historic and classic cars, from Aston Martins to Mini Minors, purred around the streets outside Mdina, starting at Ghajn Hamiem Street and ending at Gharriqin Street.

The event is usually held in Valletta but was this year moved to the old capital due to road works in and around Valletta. It is the only street race of its kind in this part of the Mediterranean.

For the first time, this year’s event included a limited guest class of post-1976 cars.

The event began on Friday with the public admiring the glistening cars as they sat on display in St Paul Square, Mdina. The participating vehicles performed timed runs on Saturday when Steve Borg, driving a 1972 Morris Mini Minor, clocked the fastest time.

As the warm October sunshine slicked up drops of rainfall that had fallen earlier that morning, the cars yesterday cruised around the circuit in a series of demonstration runs.

The grand prix was organised by the Valletta Grand Prix Foundation with help from the Mdina, Rabat and Mtarfa local councils. The foundation is in the process of joining the Federation Internationale des Vehicules Anciens.

Posted in: Events



Record-breaking 80 entries registered Previous best was 77 in 2008 - Article from The Times of Malta

Last Updated on 13 October 2011

 

Record-breaking 80 entries registered

The start of last year’s Rolex Middle Sea Race at Valletta’s Grand Harbour. A record entry has been registered for this year’s race.

 

A record has been broken even before the start of the Rolex Middle Sea Race on October 22, it was announced yesterday.

Days before final registration for this year’s event, entries have risen to a record-breaking 80 and there are still a few days to go before the last entry can be accepted.

New entries from Italy, Serbia, Slovenia and the UK have pushed the numbers up to 80, three more than the previous record of 77 in 2008.

“We can accept late entries up until October 17 and we do expect one or two more, said Georges Bonello Dupuis, Commodore of the Royal Malta Yacht Club.

“As it is, entries for this year are incredible and we are really looking forward to seeing them all berthed outside our headquarters... the place will be buzzing,” he added.

A handful of boats are here, including previous RMSR line honours and overall winner, Alegre together with back-to-back Rolex Fastnet winner Ran 2.

Other arrivals include the UK Swan 57 Yellowdrama, who’ll be fighting for the new Nautor Swan Cup, Echo, Doppelbock (Germany and UK) and Filando and Tyke from Italy.

Filando’s 14-man crew are here for the first time to take part in a race that they consider “the best offshore regatta in the Mediterranean.”

Many of the entries will arrive this weekend, including the brand new 85-foot Nautor Swan Berenice, from Italy.

While good weather over the weekend will ease the passage of arriving yachts, Bonello Dupuis cautioned: “I expect one or two might have problems but fingers crossed that everyone arrives here safely... they will certainly receive a warm welcome.”

The Rolex Middle Sea Race is organised in association with the Royal Ocean Racing Club (RORC) and has been sponsored by Rolex since 2002.

 

For further information, kindly contact 77 Great Estates on (00356) 2721 7777; (00356) 9944 7444; skype: info.77GreatEstates orinfo@77GreatEstates.com

Posted in: Events



Birgu's medieval Collachio - a historical cornucopia - Article from The Malta Sunday Times

Last Updated on 02 October 2011

 

Birgu’s medieval Collachio – a historical cornucopiaThe original armorial shield dated 1533 of Grand Master Philippe Villiers de L’Isle Adam still appears in the corridor of the Knights’ Holy Infirmary.
Birgu’s medieval Collachio – a historical cornucopia 2From left to right: A massive pilaster in the Collachio marking the site of the ancient Auberge de Castille. Auberge de France: main staircase leading to the piano nobile, indicating the elegant sophistication of the French knights. A streetscape in the Collachio (before rehabiltation works) showing the early 16th century Auberge d’Angleterre.

Birgu’s medieval Collachio – a historical cornucopia 1Late medieval Siculo-Aragonese two-light window. Right: The Holy Family and Saints at the monastery church of St Scholastica, a superb work of art by Mattia Preti.

 

The Inner Harbour city of Birgu (Vittoriosa), protected by the impregnable Castrum Maris (Fort St Angelo), and on the land-front by one of the most impressive lines of late Renaissance and Baroque fortifications in Europe, has along the years been a leading protagonist in the gradual westernisation of Malta, particularly in the late Middle Ages.

This ancient zone is packed with history and memories; wander along its beguiling winding streets and the layering of different cultures unfold
- Lino Bugeja

Its thriving population, engaged in maritime activities, was further enhanced by a cosmopolitan admixture of Venetians, Pisans, Genoese and Catalan merchants and seafarers who made Birgu their home.

The ancient part of this city, known as the Collachio, portrayed in microcosm a broad swathe of the influences of an active prosperous port city of the period with its taverns, courtesans, slaves and brothels running parallel with a proliferation of churches, chapels and holy relics.

Its narrow winding streets have witnessed moments of rowdy mirth, as in the frivolities of the first Carnival, as well as scintillating glories, as in the celebrations marking the end of the Great Siege of 1565, alternating with episodes of great poverty and epidemics. Many of these localities have survived to tell the tale.

On their arrival in Birgu in 1530 the Knights of St John concentrated their main buildings in a particular area on the pattern of their Rhodes sojourn; however it was impossible to have exclusive access to this zone which became known as the Collachio.

At the time Birgu was bursting at the seams with a population of over 3,500, and an accelerated building programme was initiated following the contours and alignments of the medieval building scheme. In this zone the Knights erected the auberges, a state-of-the-art hospital on the outskirts of the Collachio facing Kalkara, and magnificent palaces.

Behind St James Cavalier they built an impressive armoury as well as the vast fortifications of the Post of Castille, also known as l’Altare della Patria in view of the scenes of bitter fighting in the Great Siege, vividly described by Francesco Balbi di Correggio in his diary of the Siege of Malta and further immortalised by Matteo Perez d’Aleccio’s paintings at the Grand Masters’ Palace in Valletta.

In this zone, located on the right of the processional route (starting from the Three-Gate Entrance down Main Gate Street to the piazza) that bisects Birgu, one may include the Inquisitor’s Palace, a unique structure of great architectural and historical importance, the Bishop’s Palace, as well as the seat of the Birgu Università.

In spite of the intensive bombing during World War Two most of these historical edifices remained almost untouched.

Down the years, the Collachio has known the tread of outstanding personalities and scholars, poets and troubadours, great artists and military engineers as various as De Valette, L’Isle Adam, and Europe’s most celebrated military engineer, Bartolomeo Genga, who designed the still extant Auberge de France.

The Collachio presented the flowering spirit of the young Girolamo Cassar the opportunity to absorb the architectural idiom of the early Knights’ period to replicate it in the new city of Valletta.

The list of prominent people is endless – young ecclesiastical dignitaries who later became popes loitered here, as well as the renowned medieval troubadour Pietro Vidal.

The exceptionally brilliant Mattia Preti regaled the area with one of his late masterpieces in the magnificent main altarpiece of The Holy Family in the Benedictine church adjoining the erstwhile Holy Infirmary. It was here that the Birgu-born artistic geniuses Melchiorre Gafà, who made a name for himself in the Eternal City, and his brother Lorenzo, the greatest Maltese exponent of the Maltese Baroque, had their botteghe.

This ancient zone is packed with history and memories; wander along its beguiling winding streets and the layering of different cultures unfolds, stretching from the Middle Ages to the Renaissance and the Baroque, with visible remains that gave Malta its typical domestic architecture. As you stroll through this labyrinth, memories of its past haunt you, contributing to a unique experience of when the now silent palaces hosted the nobility of Europe.

Exercising its various roles throughout history, the Collachio has retained its unique characteristics, making Birgu a city of substance. To wander across the battlements of the Post of Castille at the far end of this area, soon to be restored to their former glory, is an unforgettable experience as historic moments are evoked, engulfing the visitor in bitter-sweet melancholia.

If the Collachio could speak, which historical events would it relate? Would it explain the sophistication of the Siculo-Aragonese house with its still extant exquisite two-light window? Would it recount the vicissitudes of the English knights during the Reformation at the still standing Auberge d’Angleterre, built before 1534?

Would it reveal the inhumanity of the slave trade when Ancient Street and Strada Vecchia Albergia di Castiglia teemed with young slaves ready to be auctioned on the main square in the shadow of the historic tower? Would it remind us of the frequent outbursts of savagery and deaths in duels?

Would it extol the mysterious chant and the fragrance of incense of the Byzantine rites at the Greek church of St Nicholas in the area?

Or would the Collachio reverberate once again with the pious prayers when on August 12, 1565, De Valette exhibited at the Auberge de France the document from Pope Pius IV assuring all defenders of forgiveness of their sins and immediate access to heaven if they died defending the Faith? Would it reveal the first attempt in Malta at an incipient social service when the Knights in Birgu set up a Housing Commission and a Commission for the Needy with excellent medical facilities at the nearby Holy Infirmary built at L-Ghawejna ( Little spring) in 1533?

Undoubtedly, the Collachio had its moments of glory when Fort St Angelo and its suburb of Birgu entered the mainstream of European art and culture.

With their cosmopolitan appearance, customs and traditions, the families living in Birgu at the time contrasted sharply with the rest of the island which, with the notable exception of the inland town of Mdina, was still in many respects more North African than European.

As I recently explored this historic district with Tim Willocks, author of the bestseller The Religion, a kaleidoscope of colourful memories rushed to my mind as I felt the radical temper and vitality of this vibrant city and its humble populace still rooted in its extraordinary past.

A treasure trove awaits the discerning visitor on a pilgrimage to Birgu not least to discover and pay homage to our European roots.

That such a small walled-up city can offer so much history reveals the richness of its past when on many occasions Birgu was the main protagonist in the turbulent history of our islands.

The annual Birgufest is being held on Friday, Saturday and Sunday, featuring Birgu by Candlelight, traditional Maltese games, and Maltese and foreign musicians and an art exhibition by C.S. Lawrence at the Auberge de France (part of the proceeds from the sale of works will be donated to the Community Chest Fund).

 

For further information, kindly contact 77 Great Estates on (00356) 2721 7777; (00356) 9944 7444; skype: info.77GreatEstates orinfo@77GreatEstates.com

Posted in: About Malta



75 Attractions in One Night

Last Updated on 02 October 2011

 

75 attractions in one night 1

 

Lascaris War Room guides joked about the number of locals they saw which is a rarity during the rest of the year

The usually quiet evening streets of Valletta were turned into a vibrant festival of the arts, history and culture on Saturday, as Notte Bianca went through its sixth edition.

The capital’s streets and buildings were illuminated especially for the occasion, with 75 attractions and places of interest to choose from and about 500 people taking part.

Theatre lovers got a sneak peak into Renzo Piano’s as yet unfinished roofless theatre and were able to watch performances in the opera house ruins.

On the musical front, the sounds of rock, blues, indie, jazz and traditional music coming from several squares and gardens mingled with marching bands and orchestras.

A number of museums were also open to the public free of charge.

At the Lascaris War Rooms, which are currently undergoing renovation, the Fondazzjoni Wirt Artna tour guides joked about how they rarely saw Maltese people down in the underground chambers during the rest of the year but were overwhelmed by the number of locals on the night. Numerous bars and restaurants took advantage of the hungry crowds and stayed open beyond their normal hours.

While the organisers had appealed to visitors to enter Valletta through different routes other than Republic Street due to the ongoing construction works, it seems that not everyone followed their advice, with large crowds attempting to make their way through the narrowed passage that used to lead to the capital from City Gate.

The bottleneck proved too much for some, with one elderly woman seen whacking her way through the crowd with her walking stick.

Meanwhile, an Arriva spokesman said the company ferried more than 30,000 passengers on its special services between 11 p.m. and 3 a.m. during Saturday’s event.

While there were large crowds, Arriva and Transport Malta had staff on hand to direct those wanting to take the bus to the relevant stops and mobile ticket sellers to help make boarding quicker.

Special routes labelled A to K were put on for the evening to make sure all passengers could make the journey home.

 

For further information, kindly contact 77 Great Estates on (00356) 2721 7777; (00356) 9944 7444; skype: info.77GreatEstates orinfo@77GreatEstates.com

 

 

Posted in: Events



EU Residency in Malta now available to non-EU citizens

Last Updated on 17 March 2010

To top it all, Malta offers huge tax advantages for Permanent Residents and our correspondent firm of attorneys in Malta, Hugh Peralta & Associates, will guide you through the best structure to achieve your goals.

 Neels Pretorius a South African whose family is now based in Malta states that “whilst many remain in South Africa because we love it and feel huge belonging and are committed to the country’s success, the present economic, social and political situation leaves many of us uncertain with what the future will hold in store for us, and indeed for the country.  For the security of our families and ourselves both financially and physically, most of us have researched alternative countries where to relocate to individually or with our families.”

 The problem with most options relating to foreign Residency is that many countries – unlike Malta - now have very strict immigration laws; it is very costly and also demands an allocation of time spent in that country to sustain that country’s Residency requirements (usually at least 3 months of each year and normally 6 months of each year).

 What you need to know is that Malta is situated just 90km south of Sicily off the Italian coastline practically in the dead centre of the Mediterranean featuring one of the best climates available and sporting almost zero violent crime.  The country is made up of 3 islands namely, Malta, Gozo and Comino covering a total area of 316 sq km but still more than enough space to house an international airport and a superb sports club featuring tennis, squash, cricket, gym, billiards, swimming pool and a 18 hole golf course!

 Malta has a hugely rich history of colonization, thousands of years old, including that of the Knights of St John for nearly 300 years.  The most recent was that by Britain which enjoyed a happy rule for over 160 years until Maltese independence in 1964.  This has ensured English as the other official language to Maltese and its place at the language of business which makes communication very easy indeed.  The spectacular wealth of historical buildings are everywhere to be seen and are preserved meticulously.

 In 2004, Malta was accepted into the European Union (EU), and the “Euro” is its currency.  It is included in the Schengen Treaty, ending internal border checkpoints between 26 countries – this has opened up huge commercial and social opportunities.  Having adopted the best of the Mediterranean lifestyle, Malta now has all the benefits of the EU coupled with its “tax efficient” status making it hugely attractive for investors looking for fiscal benefits and also a social magical lifestyle.

 With fantastic education (Verdala English International School, San Anton, San Andreas); virtually non existent violent crime; excellent medical services and facilities; wonderful Mediterranean food, drink and lifestyle; inviting warm crystal clear aquamarine sea and characteristic rocky ledges as well as fine sandy beaches (a rarity in the Med), you must now be asking yourself, “what’s the catch”?

 There is none.

 The Malta Permanent Residence Scheme is a most attractive residence scheme currently available to individuals seeking to transfer their tax residence from high-tax countries to overseas lower-tax jurisdictions such as Malta.  Of course this is being said over and above other social/political considerations – in case Malta is also an attractive destination.

 The country offers a wide variety of residential properties; same type that might be of interest to the typical SA buyer include marina apartments and penthouses, converted farmhouses in the countryside, houses of character and palazzos in the quaint villages, luxury villas.  Selling prices range from €60,000 to €8,000,000.  Long lets are comparatively cheap, some residences can be rented for 0.2% of selling price per month.

 Mr Pretorius stated as follows: I have personally relocated my family to Malta at the beginning of 2009 on the permanent residency scheme; I can take you through it!   From our personal experience, living cost is on par with what we are used to in South Africa, example:

  • Accommodation:  Rent 5 bedroomed House of Character with swimming pool, Wi Fi Internet, Sky HDTV - €1,700 PM
  • Motor cars: 2010 VW Polo - €18,000, 2010 Mercedes A 160 CVT - €29,000
  • Private Medical Insurance (similar to Discovery Health) - €200 PM for a family of 4

 The financial qualifications are very easy to satisfy.  Permanent residents are entitled to the following benefits:

  • No minimum stay requirements
  • No need to purchase property – only a minimum annual rent of €4,230.   The option to buy property at a minimum of €69,881 removes the leasing requirements
  • No inheritance/wealth taxes or rates and taxes on property
  • No minimum investment requirements
  • A low minimum annual tax liability of a mere €4,150 (approx. R42,000)
  • No world-wide income/wealth tax – tax only paid at 15% on income remitted to and kept in Malta

 We offer:

  • to meet you at Malta’s airport;
  • arrange bookings (with a discount) at a local hotel;
  • local real estate expertise;
  • in-house lawyers;
  • public notary (drafting of the preliminary agreement/sales contract and registration of same);
  • excellent relationships with:

the local authorities; banks for account opening, investments, trusts formation and finance requirements; private medical insurance companies such as BUPA, medical specialists such as pediatricians, GPs and dentists; motor dealerships and car rental companies; and schools for children;

  • in-house expertise in obtaining the requisite residency permits for the clients (and their pets!) as well as the permit required to buy real estate here.

 Most importantly maybe, an understanding of South African circumstances, culture and tastes, wants and needs in general.

 We basically hand hold you and show you the identified properties according to your wish list and assist with the services as mentioned above.

 In less than 4 months you could become a Permanent Resident of Malta and have free movement in and out of the 26 countries in Europe that have signed the Schengen Treaty (no more visas!).  The only time you need to visit Malta (and still keep your Permanent Residency) is upon signing of confirmation documents once your application has been accepted, i.e. you can stay living in South Africa if you want!   For the initial 5 years, visas are issued and renewed annually; thereafter permanent.

 To find out more come in for a FREE confidential consultation and in 2 months you could find yourself in the Mediterranean.  Contact us on the details below and we will arrange for your initial briefing appointment.  Alternatively all correspondence can take place telephonically/Skype (info.77GreatEstates) or via email with no need to meet.  Therefore, kindly do not hesitate to contact Dr Carl Peralta in Malta on (00356) 9944 7444 or carl@77GreatEstates.com or Mr Neels Pretorius in South Africa on +27(0)836991932  and Malta on (00356) 9933 1140 or sa@77GreatEstates.com.

 Until then, visit our website www.77GreatEstates.com and blog where we trust you will find most of the answers that you are looking for.

Posted in: Residence in Malta



77 Great Estates attends the “Luxury Real Estate” conference in Rome 2010

Last Updated on 23 March 2010

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The 5th Annual Luxury Real Estate International Conference was recently held at the Ambasciatori Palace in Rome, Italy.

It gathered Top Real Estate Firms from 9 different countries including USA (Aspen, New York, Beverly Hills, Los Angeles, California & San Francisco amongst others), CanadaFrench Polynesia (Bora Bora), Italy (Florence, Spoleto & Sicily amongst others), UK (London & Berkshire), Spain (Marbella & Palma de Mallorca amongst otehrs), Portugal, Netherlands, Israel & Malta.

The conference was hosted by John Brian Losh, Chairman and CEO of Luxury Real Estate, a membership-driven luxury brokerage assemblage based in Washington, USA.  The network includes the most prominent global luxury brokers and meets 3 times each year, nationally and internationally, to discuss current real estate trends.

The recent conference in Rome covered multiple topics of great interest to those who serve the high net-worth demographic.  An ongoing theme, covered at each of the conferences, is the state of luxury market around the world.  Discussions focused on what strategies are most effective in the current world economy, ways to build business and establish connections in international markets and using social media tools to impact one’s real estate business.

Dr Carl Peralta of 77 Great Estates followed the conference with networking events in Rome and in Milan.  Once in Milan, he ate in the presence of A.C. Milan’s president Adriano Galliani at Giannino.

For further information, kindly contact 77 Great Estates on (00356) 2125 2455; (00356) 9944 7444; skype: info.77greatestates or info@77GreatEstates.com.

Posted in: Conferences





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