Buying Procedures

Malaysia





Buying Guide In Malaysia

  • As a foreigner, you are allowed to invest in any residential property as long as the price is above MYR 500,000 (or above MYR 350,000 for certain part of Sarawak).
  • Foreigner can invest in raw land zoned for residential purpose, landed bungalow, semi detached villa, terraced house, townhouse, apartment unit of any size and condominium. The property can be bought off the plan from the developer or as a completed property. The property can be either leasehold or freehold.
  • The only restriction is that any property that is restricted to bumiputra (native) ownership cannot be bought.
  • Currently all property transactions in Malaysia are exempted from real property gain tax. Thus the seller does not need to pay any tax on the profit on disposal of property. However, as part of the condition of ownership imposed by individual states of Malaysia, foreigner will need to apply for an approval to sell the property if the ownership period of the property is less than 3 years.

MM2H
The Malaysia My Second Home Programme (commonly abbreviated “MM2H”) is an international residency scheme supported by the Malaysian government to allow foreigners to live in the country on a long-stay visa of up to 10 years. So far over 10,000 foreigners have been approved and it is generating a lot of interest with the program attracting people who wish to retire in Malaysia or spend extended periods here.

Those who have called Malaysia “home”�, have appreciated this country for its low cost of living, developed infrastructure, friendly Malaysians, attractive tourist destinations and its quality of life. For those with children, high education standards are available with international schools found across Malaysia.

To qualify for the program, applicants must meet certain financial and medical criteria. Successful applicants are then entitled to enter and leave the country on a largely unrestricted basis, and also benefit from other incentives aimed at making their stay in Malaysia more convenient.

Benefits for Malaysia My Second Home Program

  • As a participant under Malaysia My Second Home program, you will be entitled to withdraw MYR 50,000 if you join Malaysia My Second Home as an over 50 years old participant; or MYR 150,000 if you join as a below 50 years old participant, after owning a residential property in your personal name or jointly with your spouse.
  • Alternatively, if you haven’t join Malaysia My Second Home yet, and your total investment in residential properties in Malaysia under yourself or jointly with your spouse exceeds MYR 1 Million, then you are eligible to join Malaysia My Second Home by just placing MYR 100,000 if you are above 50 years old; or MYR 150,000 if you are below 50 years old.