What's Happening

Find out what’s happening in the property investment arena both in the UK and internationally

Home  »  What's happening  »  Latest News

Life Maid Easy In Malaysia

May 14, 2009Article by Ray Withers

Malaysian property investors who want to move to the country can qualify for special incentives from the government. The Malaysia My Second Home Scheme (MMSH) has run for some time, but has had several important updates since the New Year.

The over-50s buying property in Malaysia, can work up to 20 hours a week providing they have special skills and can invest in or run businesses. The scheme comes with a 10-year renewable social visit pass – plus visas for spouses and dependent children under 21-years-old.

Other advantages include:

House purchase

Under MMSH, the investor can buy residential properties priced at a minimum of £47,000 per property, depending on the location:

  •  From £56,400 per unit for certain areas in the state of Sarawak
  • From £47,000 per unit for other states
Car Purchase

A car can be imported or a locally assembled car bought exempt from import duty, sales duty and sales tax, providing the car is for personal use. The car cannot be sold for two years.

Tax

Pensions remitted to Malaysia can be taken tax-free.

Maids

Anyone on the MMSH can apply for government permission to employ a maid

So far, more than 12,000 families have joined the MMSH scheme. A typical property at the bottom of the price band is Axis Pandan is two major developments – the midmarket Axis Residence Deluxe Kuala Lumpur, a 33-storey serviced apartment block including pools, gym and a sky lounge and the top-of-the –market Axis Crown Premier, Kuala Lumpur offering luxury living in a prime location with fantastic views over the city centre and the Royal Selangor golf club. The street levels of the blocks house the region’s largest shopping mall.

All apartments are delivered in a ‘ready-to-let’ offering gross yields of more than 8% and with 60% loan-to-value mortgages. Investments are available for just £19,000 cash plus purchase costs. Prices start at £50,000 for a two-bedroom apartment.

Author

Ray Withers

Ray has over 17 years’ experience in the international property market and bought his own first international property investment back in 2002. Aside from running Property Frontiers, Ray has been involved in residential, hotel, student and commercial property investment and development in both the UK and overseas and co-wrote "Where to Buy Property Abroad - An Investor's Guide". As Founder and Trustee of the Frontiers Foundation, Ray is directly involved with many of its projects to ensure they have a direct and tangible impact in individual communities across the globe. He is passionate about property, travelling, scouting out new opportunities and finding time to spend with his young family.
Property Frontiers Awards

The award winning international investment specialists & founder member of the Association of International Property Professionals

Follow us...

  • Befriend Property Frontiers on Facebook
  • Follow Property Frontiers on Twitter
  • Follow Property Frontiers on LinkedIn
  • Watch property investment videos on the Property Frontiers YouTube channel
  • Property investment news from Property Frontiers
  • Read property investment commentary on the Property Frontiers blog