RESIDENTIAL ACQUISITION BY FOREIGN PURCHASER UNDER MM2H

Acting for a foreign national holding a Malaysia My Second Home (MM2H) pass in the purchase of a freehold residential property in Kuala Lumpur. Foreign ownership of property in Malaysia is subject to the state authority’s consent requirement under the National Land Code and to the minimum purchase price threshold applicable to foreign purchasers, which varies by state.

I advised the client on the applicable state conditions, prepared the sale and purchase agreement under the standard Schedule H format adapted for foreign purchaser use, and co-ordinated the state consent application with the Pejabat Tanah dan Galian. I also advised on the financing structure, as the client was obtaining a foreign currency loan through a local bank, which required additional documentation for exchange control compliance with Bank Negara Malaysia.

The state consent was obtained within three months, and the SPA was completed without complication. The file required close attention to the interaction between federal land law requirements and the state-specific conditions endorsed on the title document.