Hi i have a taiwanese friend whom bought two condo units in kl.

He wants to rent it out. He paid cash for the 2 units thus there are no loan involved.

Now he wants to rent it out and to collect rent he needs to open an account in banks locally.

However he is in taiwan and most website i seach requires a visa/permit to open an account.

I wven went to BNM and they told me it is not possible to open an account in malaysia if the person is not in Malaysia.

Can anyone advice? I heard international bank like hsbc, citibank can link the account from 2 countries but my friend in taiwan say the hsbc in taiwan has no idea.

I am sure there are alot foreign house owners in malaysia and there must be a way to solve this issue. Sifus out there pls help.

why dont use paypal ?

Tell the tenant to TT the money to his Taiwan's bank.
Problem solved.

Seems like Taiwan got citibank. Has your friend tried there?

Ask your friend go HSBC and ask them about premier account. I believe you can open overseas account from there.

Tq. Just to check with you, my friend go taiwan hsbc ask or msia hsbc ask?

Tried and the staff at citibank taiwan say they have no idea.

Both side also can. Wherever he is now, Taiwan or Malaysia, ask there.

best he open at taiwan HSBC first since he is based there la in my opinion....remember it have to be premier account if not tak jadi one

Ok ok tq tq!

do he declare his rental income?
foreigner and non resident has to pay a flat 25% on any income derived in Msia , in this case rental
if he earn 100 , he need to pay 25 to LHDN

I don't know. What are the procedure?