Is It A No-Brainer To Have Malaysian Inlaws Buy Instead Of Me?

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VWC Serial expat

Member since 07 January 2019

VWCSerial expat06 March 2019 15:42:35

310

Again, learning as we go here. Would the Malaysian government have a problem if we gave the money to our inlaws to buy a home there? Any advantages (or disadvantages, can't think of one) of doing it that way, other than being able to perhaps buy in places not accessible to foreigners. My understanding is that MM2H does not require us buying but does require minimum buying levels if we do, which a Malaysian citizen would otherwise not have to worry about.

Gravitas ViP

Member since 02 March 2011

GravitasViP06 March 2019 16:26:56

9040

The only disadvantage would be the eventual cost of transferring it into your/wife's name on the demise of the local owner(s). Stamp Duty and conveyancing fees would be chargeable (so in effect paying twice). Otherwise there is nothing stopping you from giving money to your in-laws to make the purchase.

The Last Will & Testament would govern what happened to it. In Malaysia one lawyer is appointed by all the beneficiaries to an Estate and if not everyone agrees then the whole Probate process is blocked.

If there was no Will then intestacy laws would be invoked and the immovable property value would be shared according to those laws and this would not guarantee your investment was fully liquidated.

Capital Gains Tax is lower for Malaysians.

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