Companies and intermediaries working in the real estate sector must apply for a real estate license by September 17, 2021.
In July of 2020, a new law came into force governing the issuance of licenses of real estate agents, real estate brokers and real estate consultants.
On January 1, 2022, the measures of the new law will go into effect. Parliamentary Secretary Chris Agius, who is spearheading the initiative, stated: “In order not to disappoint anyone, the licensing board has decided that all those who want to apply for the license should take care to submit the required documentation, including a questionnaire, on the real estate webpage no later than September 17, 2021 “. After this date, he stressed that applicants would have no guarantee that they will have a license to operate in the sector by January 1 2022; if a company or individual operates, it will be doing so without permission and will be subject to the penalties permitted by law.
The Parliamentary Secretary indicated that by March 31, 2021, all those interested in obtaining a license had to declare their intention; the department received roughly 1,500 declarations of interest. Meanwhile, many intermediaries have attended academic institutions offering courses that lead to a formal qualification to sell a property. Many of these are expected to apply by the stipulated date to operate from January 1, 2022.
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