About Malaysia : A Story of Peace and Stability
Named " the Golden Chersonese " by ancient Indian, Arab and Chinese mariners, Malaysia occupies the southern most tip of Asia as well as the land mass bordering the South China seaboard of the great island of Borneo. Malaysia is located right in the heart of South East Asia and with a land area of 329,750 sq km it is a little bigger than the United Kingdom.
Malaysia's multi cultural society today wears the proud imprint of a land that has been for centuries a meeting place for Asia's great civilizations of India, China and Islam.
After gaining independence from Britain in 1957, Malaysia went on to build a rich and stable multi cultural society that today serves as an example for many emerging countries in the world. Malaysia is a constitutional monarchy and a parliamentary democracy. Its legal system is based on that of England and Wales.
Out of a population of nearly 28 million, 66% are Malays and indigenous peoples of Sabah and Sarawak, 23% Chinese, and 8% Indian. Due to its robust economy, Malaysia is also home to hundreds of thousands of migrant workers from other Asian countries as well as a growing expatriate population drawn from every corner of the world.
What You Need To KnowHere are some other details that you need to know ......
Buying your Malaysian PropertyForeign citizens are permitted to own real estate in Malaysia without any restriction or approval from the Foreign Investment Committee as long as the price of the property is above MYR500,000.
Applying for FinanceForeigners buying property can apply for finance locally in Malaysia. Many banks offer attractive interest rate and can offer finance up to 50% of the property price or higher if the buyer has approved residency status in Malaysia.
Signing of ContractMalaysia has strict laws protecting investors of property. The Sale and Purchase agreement a buyer signs with a registered developer is required to be in a mandatory form and contains all terms and conditions prescribed by law under the Housing Development ( Control and Licensing) Act 1966.
Visa and ResidencyCitizens of most countries do not require visas to enter Malaysia. For the latest requirements please check the Malaysian Foreign Ministry website at http://www.kln.gov.my.
Malaysia grants residency visas to foreign nationals under the Malaysia My Second Home (MM2H) program. This visa entitles foreigners to reside in Malaysia and, subject to certain conditions, to work and to run their own businesses.
No residency visas are required for foreigners to purchase property in Malaysia.