'Malaysia is working hard to appeal to investors'

Article Date : 25 May 2007

Malaysia is a good place for those hoping to expand their property portfolio outside of Europe because it is actively trying to appeal to investors.

This is the view of Buy Association's homes and property editor Kate Hamilton, who said that Malaysia is "really encouraging investment" from overseas investors.

She cites the 'Malaysia my second home' (MM2H) scheme as an example.

This is an initiative designed to attract investors from the UK and the US to buy a property in Malaysia in return for tax breaks.

However, investors are forbidden to lease their property or conduct any form of business from the premises.

Other measures taken by the Malaysian government to boost investment in the country's property sector include speeding up approvals for development applications from three or five years to six months.

The Times of India recently reported that hundreds of Indians have participated in the MM2H scheme.

In fact, the Malaysian tourism board has revealed that 279,000 Indians visited Malaysia in 2006, with 400,000 expected to come this year.

'Malaysia is working hard to appeal to investors'

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