You have been misinformed. It doesnt matter that you are a foreigner or local. And it makes no sense to set up a Malaysian company to buy a property where you can buy it outright.
Cost of purchase is the same as in legal fees in sales & purchase agreement.
The only restriction is you can only buy properties above RM 1 million ringgit local currency. USD 1 is about RM 4 It was just RM 500k budget requirement 3 years back. This is to protect the foreigners from speculating the budget properties which is already out of reach to many local citizens.
Guidelines:Can Foreigners Buy Property in Malaysia? - Property in Malaysia
By buying a home, it makes any foreigner qualified for MY second home program where you are given "visa- free" for extended stay with periodical renewals every 3 months. This is the official portal
Malaysia My Second Home Official Portal - MM2H Official Portal
My wifey has had been helping foreigners from East to West , US to UK buying homes in the expatriates enclaves in Desa Parkcity to Mont Kiara, Valencia and Sierramas a decade back.
http://www.iproperty.com.my/realesta...947/Sharon_Lee
And I am cooking meals of impressions to many of these owners for house warming and assisting them to government agencies to build houses and factories on their land purchases from law and order. Dun believe, just click .....I am hot mean olde chef who cook stories and foodies.
www.facebook.com/zinglicious.
So, if you are buying a Malaysian Property from my wifey....you get a house warming buffet spread from me.
https://www.facebook.com/zinglicious...pe=3&theater:D
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