I;m from Penang, and have bought/sold several propeties ,
and the legal charges were ......EXPENSIVE

recently , heard that;s it's possible under malaysia law to register company and buy property ,

SOme of the benefits:
1. cheaper Legal fees
2. can transfer the ownership like company , eg : 50% .


Please advise if there's other pros/cons. Thank you

1. there's no difference legal fees. it's more expensive actually especially if u want to take loan, many more documents to be prepared for company loan as compared to individual loan (usually additional letter of guarantee, Filing Form 34 etc etc) and filing of documents in SSM is not cheap.

2. there's no RPGT waiver even if u hold the property after 5 years (its 5%) as compared to malaysian individual (0%)

Huh!?!?!?!
so what;s the advantage then ?

There is no advantage in term of buying a property through company, instead more RPGT (5% vs 0% after 5 years)
You don't save any cent, but potential more hassle as well

The advantage of holding property through company is when want to have joint property ownership for investment.
Eg.
A group of people want to joint investment into properties/land, you cannot put 10 names to joint own the property, but the 10 person can form a company and buy/hold the property through a company.

Also, for ordinary joint name ownership property, you need all owners (missing one also cannot) to sign before S&P can go through, while for company, as long as there is a majority vote for the resolution to buy/sell, the S&P can proceed already, even some minority disagree.

So, you don't need everyone to agree, as compared ordinary individual joint name ownership.
Also, when 1 minority individual passed away, the property still can be sold, while if hold through individual, the property basically is "stucked" in no man's land, until the estate of deceased being properly done based on estate law/will.

other than better accountability (if the company is shared), there are tax allowances in respect of the income generated from the property if it's held under the company.

you may need to check with your tax agent and company secretary on this one whether the allowances will outweigh all the additional costs.

one more thing that most people failed to consider is the costs involved annually to file the audited report to CCM. Even if the company does not conduct any business transactions, you still need to file in your accounting report to CCM otherwise, you may be penalized in terms of monies and also imprisonment.

Thank you Cherroy and shaniandras2787.