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Acquisition Of Properties Under MM2H

Acquisition of Residentail Units

Purchase of residential unit is exempted from Foreign Investment Committee (FIC)’s approval under the Malaysia My Second Home Programme.

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.

State authority has the discretion to consider the acquisition based on location, number of unit in any single project development and type of the properties.

Any proposed acquisition under Malaysia My Second Home Programme must be directly applied to the Ministry of Tourism.

Acquisition of Properties

Acquisitions of properties other than residential units are subjected to FIC’s approval

Any proposed purchase should be more than RM250,000 except state of Sarawak where the purchase should be more than RM300,000.

Transfer of Properties by Foreign Interests

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)

Transfer of properties through Will or Court Order is exempted from FIC’s approval

Acquisition Procedure Of Residential Unit Under MM2H

Chart 5.1 : Procedure for Acquisition of Properties under Malaysia My Second Home Programme

1. Identify the property in which the participant intends to acquire
2. Buy properties that have been issued the Certificate of Fitness (CF)
3. Seek information on the property from relevant authorities (land office, local authorities)
4. Assign a lawyer and get the S & P Agreement signed
5. Get a letter from Ministry of Tourism certifying that the acquirer is a participant of Malaysia My Second Home

Disposal of Properties

1. Identify interested local buyer. If foreign buyer, please seek prior approval from FIC
2. Sign the S & P agreement with the interested buyer
3. Notify relevant authorities (FIC, Ministry of Tourism, Inland Revenue Board)of the disposal of the property

Property Gains Tax has been abolished since 1st of April 2007.

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: 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: www.epu.jpm.my