Opening B&B in Malta

Me and my partner love to move to Malta and open our own B&B. What is the process of buying property than turning into B&B ... I read I have to purchase AIP and must buy my first property for just over 100 000 euros is that true? I am not allowed to buy any thing cheaper. As much as I understand when buy property with AIP I am not allowed to rent to the third party? So how people suppose to start business? Please help with advise ..
Thank you
Laimonas

I cant imagine you'll get anything sub 100k that you be able to turn into a B&B, so probably all the same?

Well I found fir 28 K 2 bed 2 bath on Gozo but I am not allowed to buy as I am non resident in Malta yet

ah, gozo is different for prices.

But for AIP yes its 110k for a flat/maisonnette anything else is I think 170k.  I suspect though as you want to use it as a business - a B&B - you wont even qualify for AIP at all

So what option I have? How to buy property and get into B&B business it's very confusing ...

The AIP process exists specifically because malta has negotiated out of the EU rights for random people to show up and just buy properties due to the size and land shortage, you can buy without permit after living here for 5 years. 

It might be that if you establish a business the process is different, but I am just guessing, I am sure someone else here knows.

I don't know anything about the B&B business though so can't really help there unfortunately

Ok understood thank you

A lot of the B and B on Gozo are rented from landlords.

Hello you mean I tent property from someone and than I use as B and B ?

laimacu72 wrote:

Hello you mean I tent property from someone and than I use as B and B ?


I don't know about Malta but on Gozo yes.