Hello Everyone,
I currently live in the United States. I am considering buying a FREEHOLD home in Tawau, and would like to eventually retire there.
I know that foreigners that own property are taxed...heavily for rental income.
but I was wondering If I I owned a freehold house in Tawau could I rent out the home and claim the income as a business source?
Thanks!
Rental Income for a a foreigner
retro33
05 July 2013 03:26:40
2
retro33
05 July 2013 06:06:56
2
Completely irrelevant to my post....
David
05 July 2013 14:15:44
9410
Hi retro33,
Welcome to expat-blog!
Regards,
David.
Gravitas
26 August 2013 05:58:31
9040
Rental income derived from the property is taxable, as a non-resident individual buyer, the taxable rental income is subject to a flat rate of 28%.
In the case of a company owning the property, the allowable deduction rate is 25%*. If the company owns more than three properties, it is then entitled to full deduction on property-related expenses against the rental income.
* House Buyers Association
Setting up a company can either be onshore or offshore:
Onshore company formation
http://malaysiabizadvisory.com/incorpor … y-sdn-bhd/
Offshore company formation
http://labuanfsa.gov.my/web/guest/about … -companies
MM2H - Property ownership
http://migratemalaysia.com/
Current minimum price level to purchase is RM500k - RM1m depending on in which Malaysian State the property is purchased.
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