Hello,
we live here under the MM2H program for a couple of years and decided to sell our property. Do we need a release letter of the government to do so?
Anybody did it before?
Selling property in Malaysia as a foreigner
cleomedes
26 February 2018 10:09:52
2
Gravitas
26 February 2018 10:20:50
9040
If you placed a reduced Fixed Deposit because of the property, then an enquiry to the Ministry or your Agent would probably be a good idea.
Otherwise selling property does not require permission.
cleomedes
26 February 2018 12:39:09
2
Thanks Gravitas!
Yes indeed, we reduced the fixed deposit after buying the house. Agent is not available anymore. So we have to ask the MM2H ministry for a release letter.
Do we have to fill a form or is a simple letter ok? Do we have to go in person to Putrajaya?
Gravitas
26 February 2018 13:45:39
9040
There does not appear to be a form on the MM2H website. I suggest you go ahead and sell your property (remembering profits are taxed at 30% for the first 5 years after purchase and 5% thereafter). Once you have sold the property (which might take some time) you can write to Putrajaya to enquire whether your FD requirement has changed.
There is always the chance that the lawyer used for the sale might know the MM2H conditions, especially if they are also have a MM2H Agent Licence
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