The Voice of the Maltese (driven by the voice of its readers ) Issue oonnlliinnee mmaaggaazziinnee February 28, 2017 148 MMaallttaa CCaarrnniivvaall 22001177 Specctacuulaar,, collourfull,, arrtistic It has been Carnival time in Malta and Gozo with. Everybody had the chance to forget politics and to make merry. The past few days were a most colourful, spectacular and artistic occasion. Creative Floats, both satirical and comical, and dancers had a field day making sure that this time of year on the Maltese islands stays alive. Photos by UnionPrint and Joe Grech At The Voice of the Maltese we are working on a special issue of the magazine specially dedicated to the Malta Carnival 2017. It is intended to pay tribute to the hundreds of people in Malta and Gozo who have contributed and worked so hard to deliver a spectacular, colourful and artistic event that gives credit to all those who participated in making it an occasion to be enjoyed by locals and foreign visitors. The special issue is being made possible thanks mainly to the photographers who offered The Voice some spectacular pictures that we believe should be enjoyed by our readers. The special issue of (TRhe pVooricte , iesd sietto froiar lT cuoemsdmaye nMta ornch p 6a. ge 6) 2 The Voice of the Maltese Tuesday February 28, 2017 Malta a “Hotspot” for Chinese Investment and Tourism alta's ambassador to China, HE John Aq- Muilina, pointed out Malta’s advantages for Chi - nese tourists, and its poten - tial for investors wishing to become permanent residents of the island nation when he addressed an audience of 400 people at a major Promo - tional Seminar in the ancient capital of Zhengzhou in cen - tral China. The Ambassador, who was the Keynote Speaker at the seminar in Zhengzhou, whi- ch has become an ultramod - ern technological centre of around 9.5 million people, told the audience that, “In the eyes of China, Malta Malta’s Ambassador to China, John Aquilina (third may be a small country, but from right) at the launch of the Promotion Campaign the country’s potential is limitless". attention.” Mr. Aquilina spoke about Malta’s major strategic, eco - Asked the main reasons behind the organisation of nomic and trading advantages as a member of the Eu - the seminar, the Ambassador said it was intended to ropean Union, a member of the Eurozone, a member of pass on information about how to apply for the Malta the Commonwealth, and the only country in the Schen - Residence Visa Programme (MRVP). gen group of nations to have English as one of its offi - The MRVP has been extremely successful in China, cial languages. bringing with it the promise of multiple millions of in - His speech followed a brief introductory film narrated vestment Euros to Malta. in Chinese that highlighted Malta's history, landscape He explained that the interest in the MRVP among the and lifestyle, and a short account of the prestigious im - participants of the promotional event was intense, with portance of Malta taking over the Presidency of the EU many seeking detailed information through multiple Council during the first six months of 2017. questions, followed up by one-on-one meetings. The Maltese Ambassador told T he Voice of the Maltese : Support speakers at the meeting were the Private “The Chinese have a great love for history and culture, Client Services Leader of the Hong Kong office of Price - so a short account of Malta’s 7,000 year history, and waterhouseCoopers Ltd, as well as the Director, Wealth the information that Valletta is to be designated as the Management, and the Regional Chief Investment Offi - Cultural Capital of Europe in 2018, also grabbed their cers for Greater China from UBS, Hong Kong. Tel (02) 9622 7799 blacktown@break - awaytravel.com.au www.breakawaytravel.com.au A proud sponsor of The Voice of the Maltese Breakaway Travel 94 corner of Main & Campbell Streets, Blacktown NSW website: www.breakawaytrave.l....c..o fmor. alu l your travel needs. Announces : A Fund Raising Tour organised by The Friends of Providence House NSW A 16-day Fly /Tour /Cruise. Departing 25th May. Touring Venice, Florence, Rome with a Mediterranean Cruise and tour finishing in Malta. For more information call Jim Borg on 96367767/0418825591 Karen or Noel at Breakaway Travel on 9622 7799 Mr. John Aquilina (right) in his meeting with is proudly sponsored by Breakaway Travel, Blacktown Mr John Li, President, Zhengzhou Fenghua Overseas Development Consultants Co, Ltd Tuesday February 28, 2017 The Voice of the Maltese 3 Another service offered by The Voice of the Maltese providing legal information to our readers Buying Real Estate in NSW: Tips and Tricks by Paul Sant the deposit at the beginning of the cooling off period (in other words at exchange of con - uying real estate is the biggest sin - tracts). gle purchase you will make in If, during the cooling off pe - Byour lifetime. As property prices riod, you decide to go ahead continue to climb, it has never been more with the purchase you will be important to be an informed purchaser. required to pay the rest of the deposit be - what you should do before you are Most purchasers understand that a Con - fore the expiry of the cooling off period. locked in! tract for Sale must be signed at some If you decide that you wish to pull the point, but what most purchasers do not What should you do before the con - plug, you may rescind (or end) the con - tract becomes binding? realise is that there are three main ways tract before the expiry of the cooling off of entering into a contract for sale of land. period and you will forfeit you 0.25% de - It is absolutely crucial to do your home - However, before we get into the nitty posit. However, you will not be expected work before becoming legally bound to gritty, it’s important to understand one to pay the balance of the deposit. proceed with the completion of the con - crucial detail - neither party is bound by tract. To place yourself in the best possi - the terms of the contract until the con - 2. Exchanging Contracts with a 66W ble position you should: tracts are exchanged and dated. Certificate Throughout this article I will refer to It is also possible to sign the contract at 1. Obtain loan approval , if you re - the date of exchange, as opposed to the your solicitor’s office. This is required quire a mortgage to purchase the prop - date that you signed the contract. The where the vendor insists on receiving a erty. date that you signed the contract is 66W certificate. A 66W certificate 2. Obtain Pest and Building Reports , amusing but irrelevant! waives the standard cooling off period to satisfy yourself as to the quality of 1. Exchanging Contracts with a Cool - and makes the contract immediately bind - the property. Be sure to thoroughly in - ing Off Period ing upon the parties (rather than five days spect the property. Caveat emptor after exchange). It is used by real estate (buyer beware)! As purchaser, you are If you are one of the lucky few whose agents and vendors to ensure that the pur - expected to be aware of the physical private offer is accepted by the vendor, chaser is bound and cannot end the con - defects in the property, whether obvi - it is likely that you will sign the Contract tract in the event that they discover ous or hidden. for Sale in the presence of the real estate something unsavoury. The vendor is not required to disclose agent. At this point in time, it is unlikely any of this information, and you cannot that you would have had a chance to re - 3. Buying at Auction make a claim for compensation from ceive legal advice regarding the contract. If you are the successful bidder at auc - the vendor if you find out that for ex - Luckily for you, the law requires that tion, there is no cooling off period. The ample, the house is infested with ter - you be entitled to a minimum cooling off contract is immediately legally binding mites. period of five business days from the on you. 3. Obtain a Strata Report – if you are date on which the contracts are ex - Now comes the hard part! buying an apartment, a strata report can changed. The bulk of a purchaser’s homework reveal valuable information such as the At 5 pm on the fifth business day the normally occurs before the contract be - history of the strata levies, whether cooling off period will automatically ex - comes binding. Earlier in this article we there are any major works planned for pire and all parties to the contract will be established the various ways in which a the near future (for which a special levy legally bound by its terms. purchaser can enter into a legally binding will need to be struck), any litigation in You will be required to pay 0.25% of contract for sale. Below we will examine which the owners corporation may be involved in, the sufficiency of the sink - ing and administrative funds, and the PAUL SANT general harmony of the complex. (SOLICITOR) 4. Get legal advice on the contract and negotiate the terms in the contract. PARTNER AT LONGTONLEGAL If you have exchanged with a cooling off period then you should ensure that For All Your Legal Needs Incl.: you have done your homework before Family Law, Property & Construction Law, Conveyancing, the expiry of the cooling off period.