Malaysia Facts & Figures

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Facts & Figures

Reviewed by Lief Simon

Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

Information TypeMalaysia Data
Population30,073,353 (July 2014 est.)
Gross Domestic Product PPP (GDP)US$525 billion (2013 est.)
GDP Per CapitaUS$17,500 (2013 est.)
Inflation Rate2.2% (2013 est.)
CurrencyRinggit (MYR)
Exchange Rate Versus U.S. Dollar3.58 ringgits per U.S. dollar (Feb. 10, 2015)
LanguagesBahasa Malaysia (official), English, Chinese, Tamil, Telugu, Malayalam, Panjabi, Thai
CapitalKuala Lumpur
Population of Capital City7.2 million (metropolitan area)
Time ZoneGMT plus 8
SeasonsEquatorial tropical: very warm, wet season year-round
International Dialing Code60
Electricity220 to 240V / 50 Hz: Plug Type: A C G M
System of GovernmentConstitutional Monarchy
Current LeaderPrime Minister Najib Razak (since April 3, 2009)
Income Tax Rate for Residents0% to 26%
Property Tax6% of assessed value
Capital Gains TaxNo, but real property gains tax is between 5% to 10%
Inheritance TaxNo
Rental Income Tax22% to 28%
Transfer Tax1% to 3%
Sales Tax5% to 10%; service tax of 6%
Restrictions on Foreign
Ownership of Property
Nonresidents are free to purchase residential and commercial
Local Chamber of Commercewww.nccim.org.my
Level 3, West Wing,
MENARA MATRADE,
Jalan Khidmat Usaha, Off Jalan Duta,
50480, Kuala Lumpur, Malaysia
Tel: 603-6204 9811 Fax: 603-6204 9711
Email: enquiry@nccim.org.my
American Chamber of Commerce
www.amcham.com.my
Suite 6-1A, Level 6
Menara CIMB
Jalan Stesen Sentral 2
KL Sentral
Kuala Lumpur 50470 Malaysia

Tel: 603-2283-3407
Fax: 603-2282-8540

Primary ExportsSemiconductors and electronic equipment, petroleum, liquefied natural gas, wood, wood products, palm oil, rubber, textiles, chemicals, solar panels
Residency and Visa RequirementsTourist Visa:90 days upon entry

Residency:employment, dependent, student, and visit Passes; Malaysia My Second Home program grants five-year renewable visas with privileges; permanent residency requires five years of continuous living within the country

Citizenship:12 years of residency, renouncement of foreign citizenship, and adequate understanding of Malay language

Special Benefits for Foreign Residents or RetireesMalaysia My Second Home Program: granted five-year visa, to which a permanent visa can be applied for afterwards. Tax-free imports of home goods, tax-free import or purchase of an automobile, no income tax on pension or other overseas income
National AirlineMalaysia Airlines
www.malaysiaairlines.com

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