Thresholds for buying property as a foreigner
#48
BE Enthusiast
Joined: Jan 2017
Posts: 392
Re: Thresholds for buying property as a foreigner
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
#49
BE Enthusiast
Joined: Apr 2005
Posts: 706
Re: Thresholds for buying property as a foreigner
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
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
#50
BE Enthusiast
Joined: Oct 2015
Posts: 464
Re: Thresholds for buying property as a foreigner
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.