Participants of Malaysia My Second Home Programme are provided with various incentives to make their stay more comfortable and enjoyable in Malaysia.
Please be informed that property purchase is not a pre-requisite for participating in MM2H programme.
All MM2H participants may purchase any number of residential or commercial properties in Malaysia, subject to the minimum rates established for foreigners by the different states. They start from RM500,000 per unit for most states, commencing 1st January 2010. Land is a state matter and it is important to check state laws before making any commitment, as the minimum purchase price is not standardized between states. Purchases made are exempted from Foreign Investment Committee’s approval.
We advise buying properties which are already issued with certificates of fitness but if you intend to purchase from developers, ensure that it is a reputable company.
Also ensure that your lawyer does a thorough check with the local land office that you have ownership rights to any property that you are purchasing. Profit made on the sale of property is taxable at 15% (Real Property Gains Tax – RPGT) for disposals within first 2 years of acquisition and 10% for disposals between 3rd to 5th year of acquisition. Any profit made on sale of property after the 5th year of acquisition is not subject to RPGT.
Property purchases are important investment decisions and must be attended to in the most professional manner. The process is tedious and demanding in terms of payment and signing of documents. There will be a number of parties involved in completing a property purchase, namely :-
- Your Solicitor
- Vendor’s Solicitor
- Property Agent
- Property Valuer
- State Authority
- Land Office
Transactions are usually completed within 3 to 4 months. However, in some cases, this could be prolonged if the vendor gets involved in settlement disputes with financier, developer or management body of the property.
By your appointment, we can act as your contact point en route to the completion of your property acquisition.
Our services comprise of :-
- Ascertaining and providing advice on your investment objectives.
- Sourcing for the identified properties.
- Viewing arrangements and negotiations.
- Manage the booking and purchase process.
- Liaising with lawyers, banker, valuer, etc.
- Application and assisting in the approval process of bank loans for your financing needs.
- Vetting documents to ensure they are in order (This is important as documents involved in the transfer of ownership are mostly in Malay language).
- Informing in a timely manner on payment due.
We strive to provide the highest level of comfort and integrity towards achievement of your investment goals. – firstname.lastname@example.org