Agricultural land after renouncing Malaysian citizenship

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asked on Sep 7, 2023 at 08:27
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I am thinking of applying for citizenship in another country so I will have to renounce Malaysian citizenship. However I own agricultural land in Malaysia. Will I still be able to hold or sell this land after renouncing Malaysian citizenship?
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answered on Sep 7, 2023 at 18:07
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edited Sep 7, 2023 at 18:12
by   jeff005
Will I still be able to hold or sell this land after renouncing Malaysian citizenship?

You will still be the owner of the land.

Once you have renounced Citizenship, you are now a FOREIGNER.
Upon selling.. Capital Gains taxation will be levied. (as any foreigner).

Best you consult a Taxation Specialist.

Best solution - Sell and with moneys in your pocket then self renunciation of citizenship.
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