Financial Property Ownership (Foreigner Co-Own)
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 Feb 27 2015, 12:09 AM, updated 11y ago
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#1
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Senior Member
2,691 posts Joined: Sep 2008   
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hi lyn'ers,
was looking around the web, but not much available. so hoping some sifu's here can help me out. I'm married to a non-malaysian and was thinking to buy a new property and have both our names on the SPA. If the total price of the apartment is >RM1mil, is it ok to do a 50:50 split? or does the foreigner's share alone need to be >RM1mil? Anyone know about how to go about this or better yet, dealt with this before? thanks. |
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Feb 27 2015, 12:29 AM
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#2
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Junior Member
374 posts Joined: Sep 2014
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you mean to be eligible for MM2H qualification?
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Feb 27 2015, 12:32 AM
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#3
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Senior Member
2,691 posts Joined: Sep 2008
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QUOTE(TBJ @ Feb 27 2015, 12:29 AM) you mean to be eligible for MM2H qualification? well we wont be applying for MM2H as she can get PR eventually as i'm malaysian, but was wondering if my wife can be put as an owner on SPA. as they do have the >RM1mil requirement for foriegners, but not sure how it applies to joint ownership. does that mean as 50% ownership it is RM500k or if 50% needs to be >1mil. so its a bit confusing. |
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Feb 27 2015, 01:00 AM
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#4
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Junior Member
262 posts Joined: Feb 2011 From: bolehLAND! <3
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QUOTE(panda-man @ Feb 27 2015, 12:09 AM) hi lyn'ers, was looking around the web, but not much available. so hoping some sifu's here can help me out. I'm married to a non-malaysian and was thinking to buy a new property and have both our names on the SPA. If the total price of the apartment is >RM1mil, is it ok to do a 50:50 split? or does the foreigner's share alone need to be >RM1mil? Anyone know about how to go about this or better yet, dealt with this before? thanks. CODE foreign interest means any interest, associated group of interests or parties acting in concert which comprises (a) individual who is not a Malaysian citizen; and/or (b) individual who is Permanent Resident; and/or (c) foreign company or institution; and/or (d) local company or local institution whereby the parties as stated in item (a) and/or (b) and/or (c) hold more than 50% of the voting rights in that local company or local institution. It seems yes. U and wife can buy such residential unit so long as it is over RM1 mil. Do check respectively state guidelines as state guidelines overrides EPU |
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Feb 27 2015, 09:12 AM
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#5
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Junior Member
374 posts Joined: Sep 2014
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i see, sorry, i do not know a foreigner have a requirement of min RM1million purchase, if the law requires that, 50% must be equivalent to RM1million value as well.
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Feb 27 2015, 09:59 AM
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#6
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Senior Member
641 posts Joined: Aug 2009
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QUOTE(panda-man @ Feb 27 2015, 12:09 AM) hi lyn'ers, should be 1m for the house. no need to 50:50 split.was looking around the web, but not much available. so hoping some sifu's here can help me out. I'm married to a non-malaysian and was thinking to buy a new property and have both our names on the SPA. If the total price of the apartment is >RM1mil, is it ok to do a 50:50 split? or does the foreigner's share alone need to be >RM1mil? Anyone know about how to go about this or better yet, dealt with this before? thanks. but, now selangor is 2mil. |
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Feb 27 2015, 10:06 AM
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#7
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Senior Member
1,053 posts Joined: Jan 2015 
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QUOTE(panda-man @ Feb 27 2015, 12:09 AM) hi lyn'ers, if joint name SPA must 1 million and above , some area require min 2 million for foreigner. was looking around the web, but not much available. so hoping some sifu's here can help me out. I'm married to a non-malaysian and was thinking to buy a new property and have both our names on the SPA. If the total price of the apartment is >RM1mil, is it ok to do a 50:50 split? or does the foreigner's share alone need to be >RM1mil? Anyone know about how to go about this or better yet, dealt with this before? thanks. So i will advice just put your name in SPA if property lesser than 1 mil |
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Mar 2 2015, 09:56 AM
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#8
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Senior Member
2,691 posts Joined: Sep 2008
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oh i see. ok lah. then if its like that, then ill just keep my name on SPA. was just hoping to get larger loan. thanks guys for the clarification!
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