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Old Jan 18th 2016, 12:50 pm   #46
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Default Re: Thresholds for buying property as a foreigner

Zero is for locals, 5% for foreigners;-)
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Old Jan 18th 2016, 12:58 pm   #47
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Default Re: Thresholds for buying property as a foreigner

Thanks Columbine
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Old Feb 1st 2017, 2:58 am   #48
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Default Re: Thresholds for buying property as a foreigner

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Originally Posted by bakedbean View Post
You're mixing two different things: MM2H and Buying A Property.

You don't have to have MM2H to buy a property. In fact, I think it's only Penang State that has some differences in that they treat MM2Hers differently.
We are looking to rebuild our inlaws house in KL

It was built in the late 60's early 70's and is no longer suitable for the MIL.

We are looking to transfer the ownership across to a family trust but just not sure of the ability in terms of foreign ownership (NZ based trust).

The rebuild is around $3 to $5 million ringit so this should be over the $1 million or $1.5 million state requirement
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Old Feb 3rd 2017, 7:27 am   #49
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Default Re: Thresholds for buying property as a foreigner

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Originally Posted by Stuck in Auckland View Post
We are looking to rebuild our inlaws house in KL

It was built in the late 60's early 70's and is no longer suitable for the MIL.

We are looking to transfer the ownership across to a family trust but just not sure of the ability in terms of foreign ownership (NZ based trust).

The rebuild is around $3 to $5 million ringit so this should be over the $1 million or $1.5 million state requirement
Is your wife or are you still Malaysian? Having the property transferred to a Malaysian would solve all that hassle, methinks?
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Old Jul 3rd 2017, 6:02 am   #50
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Default Re: Thresholds for buying property as a foreigner

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Originally Posted by JC3 View Post
To cool property speculation in Penang, from 1 February 2014 the Penang State Government has imposed a 3% levy on foreigners' purchase of Penang property, in addition to the existing application fees of RM 10,000 (for individuals) and RM20,000 (for companies).
To heat up foreigners interest in Penang property again the state levy of 3% has been halved. Now 1,5% no matter if MM2H or not.
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