Property
Registered title with restrictions on acquisition by non-residents
Property is transferred by notarial deed and recorded in the land and cadastral registers. Acquisition by foreign nationals and non-residents is subject to authorisation and quantitative limits.
Key rules
- Transfers require a notarial deed and registration to be effective against third parties.
- Non-resident purchases require prior authorisation and are numerically limited.
- Mortgages rank by date of registration in the immovable property register.
Governing law
- Law on the acquisition of real property by foreign nationals
- Leges Statutae and subsidiary ius commune on property
In practice
Because the territory is tiny and supply fixed, the authorisation regime is used deliberately to restrain non-resident acquisition.