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-   -   Thresholds for buying property as a foreigner (https://britishexpats.com/forum/malaysia-148/thresholds-buying-property-foreigner-813295/)

columbine Jan 18th 2016 11:50 am

Re: Thresholds for buying property as a foreigner
 
Zero is for locals, 5% for foreigners;-)

bakedbean Jan 18th 2016 11:58 am

Re: Thresholds for buying property as a foreigner
 
Thanks Columbine

Stuck in Auckland Feb 1st 2017 1:58 am

Re: Thresholds for buying property as a foreigner
 

Originally Posted by bakedbean (Post 11790359)
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

xizzles Feb 3rd 2017 6:27 am

Re: Thresholds for buying property as a foreigner
 

Originally Posted by Stuck in Auckland (Post 12167256)
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?

eCdD Jul 3rd 2017 5:02 am

Re: Thresholds for buying property as a foreigner
 

Originally Posted by JC3 (Post 11803888)
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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