The Government of Malta has introduced legislation to license real estate agents, brokers, and property consultants, aiming to regulate the sector effectively. Under this framework, licenses are valid for five years, with mandatory training required for renewal. Individuals conducting more than four property transactions annually are classified as estate agents and must obtain the necessary training and licensing. The act also outlines procedures for granting and revoking licenses in cases of misconduct, with provisions for appeals. Additionally, it establishes guidelines for agent compensation, ensuring they can claim payment for work on transactions that do not proceed. Training is a new requirement for all regulated individuals, following extensive consultations with stakeholders, including the Developers’ Association, brokers, and established real estate market participants. Licenses are granted upon completion of a training course offered by the Malta College of Arts, Science and Technology (MCAST), comprising between 8 and 12 European Credit Transfer and Accumulation System (ECTS) credits. The reform follows a white paper launched in 2016 and includes consultation with the Financial Intelligence Analysis Unit (FIAU), as estate agents are considered “subject persons” under the fourth anti-money laundering directive.
