Follow MyMM2H on......

Facebook Page Twitter
application-online

Announcement

MM2H Agents Association Second National Workshop 2015
MM2H Centre in collaboration with MM2H Agents Association (MM2HAA) will organize MM2H 2nd National Workshop 2015 on 15th October 2015 (Thursday) at the Multipurpose Hall, Ministry of Tourism and...
House Purchase Print E-mail
Participants of Malaysia My Second Home Programme are provided with various incentives to make their stay more comfortable and enjoyable in Malaysia.

Each participant is allowed to purchase residential houses at price above RM250,000, depending on the location of the property.

Generally the minimum price for the purchase of houses in Malaysia are as follows:

  • Above RM300,000 per unit for certain areas in the state of Sarawak (Kuching, Miri and Sibu)
  • Above RM250,000 per unit for other states

(Participants are advised to check the respective state governments on any change to approved amounts for foreigners before making any commitment)

Acquisition of Properties by Foreign Interests Under Foreign Investment Committee(FIC)'s Guideline

  1. Acquisition of Residential Units Under Malaysia My Second Home Programme
    • a.  Purchase of  residential unit is exempted from FIC’s approval under the Malaysia My Second Home Programme.
    • b.  All categories of residential units are allowed except for low-cost and medium low-cost units as determined by the state authorities, all properties built on Malay reserve land, units that are reserved for Bumiputera quota and agricultural land developed on the basis of the homestead concept
    • c.  State authority has the discretion to consider the acquisition based on location, no. of unit in any single project development and type of the properties
  2. Acquisition of Properties
    • a.  Acquisitions of properties other than residential units are subjected to FIC’s approval
    • b.  Any proposed purchase should be more than RM250,000 except state of Sarawak where the purchase should be more than RM350,000.
  3. Transfer of Properties by Foreign Interests
    • a.  Transfer of properties by foreign interests are only allowed to their immediate family members only
      • Family members under FIC’s guidelines are through marriage (husband and wife), blood ties (grandfather, grandmother, siblings, step-children and legally adopted children)
    • b.  Transfer of properties through Will or Court Order is exempted from FIC’s approval
  4. Acquisition Procedure Of Residential Unit Under Malaysia My Second Home Programme

    House Purchase

    • a.  Identify the property in which the participant intends to acquire

    • b.  Buy properties that have been issued the Certificate of Fitness (CF)

    • c.  Seek information on the property from relevant authorities (land office, local authorities)

    • d.  Assign a lawyer and get the S & P Agreement signed

  5. Disposal of Properties
    • a.  Identify interested local buyer.  If foreign buyer, please seek prior approval from FIC

    • b.  Sign the S & P agreement with the interested buyer

    • c.  Notify relevant authorities (FIC, Ministry of Tourism, Inland Revenue Board) of the disposal of the property

For further inquiries, kindly contact:

Malaysia My Second Home Centre (MM2H)
Ministry of Tourism Malaysia
Level 23,Menara Dato’ Onn
Putra World Trade Centre
50695 Kuala Lumpur, Malaysia
Tel: +603 – 2696 3351
Fax: +603 – 2698 8533
Website: http://www.mm2h.gov.my

Foreign Investment Committee (FIC)
Economic Planning Unit,
Prime Minister's Department,
Block B5 & Block B6,
Federal Government  
Administrative Centre,
62502 Putrajaya
Tel: +603 – 8888 3333
Fax: +603 – 8888 3755
Website: http://www.epu.jpm.my

 

Currency Converter by Google

Convert   into    

Licensed by

Ministry of Tourism, Malaysia Tourism Malaysia Imegresen Malaysia Malaysia My Second Home

Member of

SME International