Malaysia offers many pull factors for foreign property purchasers

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.