For example, a foreigner purchasing a property in Malaysia will be subjected to the minimum RM600,000 price cap, while certain localities such as Johor has a minimum price cap of RM1 million for foreigners.

Aside from that, the documents that need to be provided may also differ slightly for each individual – depending on their nationality and whether it is a company making the purchase or an individual.

Malaysians Working In Malaysia – Employee

This is the most typical scenario, of an everyday Malaysian working to buy a property in their home country.

As the most common type of buyer in the Malaysian market, the point of entry for these individuals are also the easiest and the most numerous with the many types of developments.

They need only search for a property which the loan amount is suitable to their income, and below are the documents that they will need to provide when applying for a loan:

• Identification Card – NRIC (copy)
• Property Booking Receipt
• Vendor Sales & Purchase Agreement/Title (copy)/New Sales & Purchase Agreement
• Latest 3 months pay slip (for Basic Salary)/Latest 6 months pay slip (for Basic + Commission Earner)
• Latest 3 months personal bank statement (for Basic Salary/Latest 6 months pay slips (for Basic + Commission Earner) which show your salary credited as per pay slip
• Latest EA form
• Latest KWSP statement
• Income Tax – Latest Form B/BE with payment receipt acknowledgement
• Deposit statement eg. Fixed Deposit, ASB or Bonds (if any) – to show how strong your emergency funds are

Malaysians Working In Malaysia – Self Employed

With the startup scene being what it is and the market being flooded with young entrepreneurs, self employed Malaysians are another common segment of property buyers in the market.

These individuals need to provide almost the same documents as a Malaysian employee, with the differences being that their proof of income will need to come from their own company instead.

• Identification Card – NRIC (copy)
• Property Booking Receipt
• Vendor Sales & Purchase Agreement/Title (copy)/New Sales & Purchase Agreement
• Latest 6 months Company Bank statement
• Latest 6 months Personal Bank statement
• Deposit statement eg. Fixed Deposit, ASB or Bonds (if any) – to show how strong your emergency funds are
• Business Registration Number

Sdn Bhd Company

A Sdn Bhd is a company that comprises of 2 individuals or more.

Individuals who run a Sdn Bhd company will not only need to fill up different income tax forms, they will also need to provide different documents when purchasing a property under their personal name.

Purchasing a property under company name will require different documents.

• Form 24 & 49
• Latest Profit & Loss statement
• Memorandum of Article
• Company Profile
• Form 9
• 12 Months Bank Statement
• Latest Audited Report

For those who are running a business under Sole Proprietorship or Partnership – a different form of company – they will need to provide the additional documents below:

• Form A and Form D
• Name Card

Malaysians Working Overseas – Employee

Purchasing a property in Malaysia while working abroad is fortunately also very convenient, especially with the latest technologies such as PropertyGuru’s drone videos and Virtual Tours which allows purchasers to view their desired development remotely.

Below are the documents that the individual will need to provide if they are Malaysians working overseas.

• Identification Card – NRIC (copy)
• Working Permit (if any)
• Property Booking Receipt
• Sales & Purchase Agreement/Title (copy)
• Latest 3 months pay slip
• Latest 3 months personal bank statement (to show salary credited as per pay slip)
• Employment Letter/Latest KWSP statement/Latest CPF statement
• Latest income tax declaration form with payment receipt acknowledgement (preferably 2 years)
• Deposit Statement e.g Fixed Deposit, ASB or Bonds (if any)
• For those working in Singapore, the Malaysian bankers will ask for the Credit Bureau Singapore Report. Visit this website to make a request for your report https://www.dpcreditbureau.sg/

Malaysians Working Overseas – Self Employed

Self employed Malaysians working overseas are also able to purchase properties in their homeland with the below documents:

• Identification Card – NRIC (copy)
• Working Permit (if any) / PR card with validity more than 6 months
• Property Booking Receipt
• Sales & Purchase Agreement/Title (copy)
• Latest 6 months Company bank statement
• Latest 6 months Personal bank statement
• Latest income tax declaration form with payment receipt acknowledgement (preferably 2 years)
• Business Registration (to show ownership of the company)
• Latest Profit & Loss statement
• Deposit Statement e.g Fixed Deposit, ASB or Bonds (if any)

Foreigner Working In Malaysia – Employee

The Malaysian market is open to all parties for purchase, as long as they follow the regulations such as the minimum purchase price of RM1 million in Malaysia, and RM2 million within certain locations of Malaysia.

The documents that they will need to provide are as the below:

• Identification Card – NRIC (copy)
• Working Permit (if any) / PR card with validity more than 6 months
• Property Booking Receipt
• Sales & Purchase Agreement/Title (copy)
• Latest 3 months pay slip
• Latest 3 months personal bank statement (to show salary credited as per pay slip)
• Employment Letter / Latest KWSP statement
• Latest income tax declaration form with payment receipt acknowledgement
• Deposit statement e.g Fixed Deposit, ASB or Bonds (if any)

Foreigner Working In Malaysia – Self Employed

And again as self employed Malaysians working abroad are able to purchase properties in Malaysia, self employed foreigners working in Malaysia are also allowed to purchase properties within the country as long as they have sufficient funds.

Below are the documents that they will require:

• Identification Card – NRIC (copy)
• Working Permit (if any) / PR card with validity more than 6 months
• Property Booking Receipt
• Sales & Purchase Agreement/Title (copy)
• Latest 6 months Company bank statement
• Latest 6 months Personal bank statement
• Deposit Statement e.g Fixed Deposit, ASB or Bonds (if any)
• Latest income tax declaration form with payment receipt acknowledgement (preferably 2 years)
• Business Registration (to show ownership of the company)
• Latest Profit & Loss statement
• Memorandum of Article and Company Profile
• Form 24, 49