Selling property in Malaysia as a foreigner

Member since 26 February 2018

cleomedesMember26 February 2018 08:09:52

Hello,

we live here under the MM2H program for a couple of years and decided to sell our property. Do we need a release letter of the government to do so?

Anybody did it before?

Gravitas ViP

Member since 02 March 2011

GravitasViP26 February 2018 08:20:50

9040

If you placed a reduced Fixed Deposit because of the property, then an enquiry to the Ministry or your Agent would probably be a good idea.

Otherwise selling property does not require permission.

cleomedes Member

Member since 26 February 2018

cleomedesMember26 February 2018 10:39:09

Thanks Gravitas!
Yes indeed, we reduced the fixed deposit after buying the house. Agent is not available anymore. So we have to ask the MM2H ministry for a release letter.
Do we have to fill a form or is a simple letter ok? Do we have to go in person to Putrajaya?

Gravitas ViP

Member since 02 March 2011

GravitasViP26 February 2018 11:45:39

9040

There does not appear to be a form on the MM2H website. I suggest you go ahead and sell your property (remembering profits are taxed at 30% for the first 5 years after purchase and 5% thereafter). Once you have sold the property (which might take some time) you can write to Putrajaya to enquire whether your FD requirement has changed.

There is always the chance that the lawyer used for the sale might know the MM2H conditions, especially if they are also have a MM2H Agent Licence