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Aspen Limited
47, Triq l-Gherien,
Mellieha - MLH 2282
Malta
Tel: (+356) 2152 2761
Fax: (+356) 2152 2762
Email: info@aspen.com.mt |
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| Climate |
Malta’s climate is typical of the Mediterranean - very sunny with a daily average of five to six hours sunshine in mid-winter to more than 12 hours in summer. Winters are mild, with the occasional short chilly period. Summers are hot, dry and very sunny and the extended summer period is usually from about late May to mid October. Annual rainfall is low, averaging 578mm a year, and the length of the dry season in summer is longer than in neighboring Italy. The peak beach season can even last until mid- to late October. |
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| Independence and Republic |
Malta joined the European Union in 2004 and signed the Lisbon Treaty in 2007. Malta achieved its independence on 21 September 1964 (Independence Day) after intense negotiations with the United Kingdom, led by Prime Minister George Borg Olivier. Under its 1964 constitution, Malta initially retained Queen Elizabeth II as Queen of Malta and thus Head of State, with a Governor-General exercising executive authority on her behalf. In 1971, the Malta Labour Party led by Dom Mintoff won the General Elections, resulting in Malta declaring itself a republic on 13 December 1974 (Republic Day) within the Commonwealth, with the President as head of state. A defence agreement signed soon after independence (and re-negotiated in 1972) expired on 31 March 1979.
Malta adopted a policy of neutrality in 1980. In 1989, Malta was the venue of a summit between US President George H.W. Bush and Soviet leader Mikhail Gorbachev, their first face-to-face encounter, which signaled the end of the Cold War.
On July 16, 1990, Malta, through its foreign minister, Guido de Marco, applied to join the European Union. After tough negotiations, a referendum was held on March 8, 2003, which resulted in a favourable vote. General Elections held on April 12, 2003, gave a clear mandate to the Prime Minister, Eddie Fenech Adami, to sign the Treaty of accession to the European Union on April 16, 2003 in Athens, Greece. Malta joined the European Union on May 1, 2004. Following the European Council of June 21–22, 2007, Malta joined the Eurozone on January 1, 2008.
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Language |
The official languages are Maltese and English. Maltese is a language of Semitic origin written in the Latin script. Over the centuries, it has incorporated many words derived from English, Italian and French. |
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| Currency |
Maltese euro coins feature the Maltese Cross on €2 and €1 coins, the Maltese Coat of Arms on the €0.50, €0.20 and €0.10 coins, and the Mnajdra Temples on the €0.05, €0.02 and €0.01 coins.
Malta has produced collectors' coins with face value ranging from 10 to 50 euro. These coins continue an existing national practice of minting of silver and gold commemorative coins. Unlike normal issues, these coins are not legal tender in all the eurozone. For instance, a €10 Maltese commemorative coin cannot be used in any other country.
From 1972 until introduction of the Euro in 2008, the currency was the Maltese Lira, which had replaced the Maltese pound. The pound replaced the Maltese scudo in 1798. |
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Driving |
In Malta, driving is on the left. There are speed limits of 64 kph on the open road and 40 kph in built- up areas. Comprehensive insurance is advisable. National or international driving licences accepted. |
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Time Difference |
Malta is on Central European Time (CET), which is 1 hour ahead of GMT in winter and 2 hours ahead between the last Sunday in March and the last Sunday in October. Malta is 6 hours ahead of Eastern Standard Time (EST) in winter and 7 hours ahead between the last Sunday in March and the last Sunday in October. |
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| Useful Information |
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Full country name: Republic of Malta
Area: 320 sq km (124 sq mi)
Population: 391,700
Capital city: Valletta (pop 92,000)
People: Maltese
Languages: Maltese, English and Italian
Religion: Roman Catholic (91%)
Government: Parliamentary democracy
President: Eddie Fenech Adami
Prime Minister: Lawrence Gonzi
GDP: $5.3 billion
GDP per head: $13,800
Annual growth: 4%
Inflation: 2.8%
Major industries: Tourism, electronics, ship repair, construction
Major trading partners: Italy, Germany, UK
Member of EU: yes |
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| BUYING PROPERTY IN MALTA |
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| Promise of Sale |
Upon selecting a property, the buyer enters into a 'promise of sale' agreement with Aspen Ltd. This is valid for three months unless otherwise stipulated. At this point an amount equivalent to 1% stamp duty is paid by the buyer and held by the notary as well as a 10% deposit on the total purchasing price. |
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| Notarial investigations and bank loans |
Within the three months or within the term agreed in the promise of sale, the buyer's notary will research the history of the site and validity of sale. The notarial fees are at the client's expense. Should a loan be required a bank's sanction letter will be required within one month of signing agreement - this letter confirms that the bank is willing to offer the loan to the client. All bank charges are at client's expense. |
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| Contract |
Upon expiry of the promise of sale, both parties sign a public deed that will be duly registered by the notary in the public registry. The balance due is also paid at this point, together with a further 4% stamp duty on the sale. |
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| LINKS AND RESOURCES |
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- Malta Tourism Authority
- Government Website
- Malta International Airport
- Air Malta
- Malta Weather
- The online guide to Malta
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©Copyright 2011. All rights reserved. |
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