PETALING JAYA (July 21): Malaysia is a very attractive country for foreigners to purchase properties, according to lawyer and managing partner of Chur Associates Chris Tan.
“First, you don’t have to marry a Malaysian in order to own a property here – anyone who is eligible can have direct ownership. Not only that, non-Malaysians can own a freehold title in Malaysia.
“And legally, foreign homebuyers are protected under the Commonwealth Legal System, the Constitutional Property Ownership Right under the Malaysian Federal Constitution, and the country's very own Housing Development (Control and Licensing) Act 1966,” he shared this in his talk about the legal process involved in buying a property in Malaysia, during a Facebook Live stream on TheEdgeProperty.com Facebook today.
“In addition to that, there is no inheritance tax for foreign homebuyers. So there is no extra financial expenses for them to incur when they transfer the property to their next generation,” he noted.
The FB Live stream from 3pm to 5pm today and tomorrow, on TheEdgeProperty.com's FB page is in conjunction with the Malaysia Virtual Property Expo 2017 (VPEX 2017) organised by TheEdgeProperty.com. VPEX 2017 is the first virtual property expo to be held in Malaysia. It features 20 established property developers offering more than 50 projects located in the Klang Valley, Penang, Johor, Sabah and London.
Tan will be on again tomorrow and he will be talking about the “Common Myths about Communal Living: What’s Legal, What’s Not!”. Other personalities that will appear on FB Live tomorrow will be The Luxe Nomad founder Stephanie Chai, Colony Space Asia executive director Timothy Tiah, Tandemic CEO Kal Joffres, Mastery Academy of Chinese Metaphysics founder Datuk Joey Yap, lady furniture maker Hani Ali of LAIN Furniture and environment activist Matthias Gelber.