These Regulations supplement the Immovable Property (Designation of Special Areas) Regulations by inserting new regulations 4 and 5. These new provisions concern further circumstances under which the Minister of Finance is entitled to issue an order designating an area as a Special Designated Area, upon application by non residents who intend to acquire immovable property.
Amends: Immovable Property (Designation of Special Areas) Regulations, 2006 (L.N. 227 of 2006). (2006)
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Great Britain formally acquired Malta in 1814. The island staunchly supported the UK through both world wars and remained in the Commonwealth when it became independent in 1964; a decade later it declared itself a republic. Since about the mid-1980s, the island has transformed itself into a freight transshipment point, a financial center, and a tourist destination while its key industries moved toward more service-oriented activities. Malta became an EU member in May 2004 and began using the euro as currency in 2008.
Malta is a parliamentary republic.