Follow MyMM2H on......

Facebook Page Twitter


Discontinuation of The Reduction Of Fixed Deposit Placement Based On Property Purchase And MM2H Approval By Government Pension
Kindly be informed that MM2H Centre has discontinued the reduction of Fixed Deposit placement based on property purchase worth RM1 million and above in Malaysia. Also discontinued is the MM2H...
RPGT has little immediate impact on MM2H Print E-mail
Friday, 27 November 2009 15:40
KUALA LUMPUR: It is business as usual for promoters of the Malaysia My Second Home (MM2H) programme, post the government’s announcement recently that a 5% Real Property Gains Tax (RPGT) will be levied from Jan 1, 2010, irrespective of when the property was acquired.

Director of International Placement House (MM2H) Sdn Bhd Joseph Fernandez told he has not received any feedback from clients on the RPGT. “I think for foreigners, this is a small bite; it is the locals who will be more affected.” However, he noted, the RPGT could fan foreigners’ perception of a flip flop in Malaysia’s policies.

Poloair Consultancy (MM2H) Sdn Bhd executive director Adrian Wang concurred and said some of his clients were “quite annoyed with the constant change of policies as it confuses them”.

Metro Homes (MM2H) Sdn Bhd director See Kok Loong said he has not seen any significant negative impact on the programme but cautioned that Malaysia could lose out in the long run to countries such as Singapore, where no such tax existed. “But there is not much we can do but learn to adapt since the government has already said they will proceed with the tax,” added See.

Ck-Ten (MM2H) Sdn Bhd director and committee member of MM2H Agents Association John Ching said while there was dissatisfaction voiced by some programme applicants, there was no major complaint received and since there was no bubble in the Malaysian property market, the RPGT would not trigger any crash.

Ching said the MM2H Agents Association would be meeting with the Tourism Minister soon and a discussion on the impact of the RPGT on MM2H is on the agenda.


Add this page to your favorite Social Bookmarking websites

Currency Converter by Google

Convert   into    

Licensed by

Ministry of Tourism, Malaysia Tourism Malaysia Imegresen Malaysia Malaysia My Second Home

Member of

SME International