AskCA
On February 5, TP Lim wrote in and asked on the following:
Hi, I’m currently staying in a property under joint name with my wife . Can I transfer my half share of d property without attracting any stamp duty i.e. out of love & affection?
You still have to pay the stamp duty for transferring the property to your daughter. However, pursuant to Stamp Duty (Remission)(No. 7) Order 2002, any instrument of transfer of any immovable property operating as a voluntary disposition between parent and child will be entitled to a remission of 50% from the stamp duty chargeable.
As a retiree with rental income, how many properties do I need to own in order to set a property management co.
& how do i proceed to set up under d style of a co?
There is no pre-requirement for setting a company to hold and manage your own properties. However, if you intend to practice and carry out the property management for a fee you are required to register as a valuer with the Board of Valuers, Appraisers and Estate Agents.

To register your brand new company, you will need to fill up the company registration form and comply the necessary requirements as follow:-

  1. a minimum of 2 subscribers to the shares of the company;
  2. a minimum of 2 directors;
  3. a company secretary who can be either:-
    1. An individual who is a member of professional body prescribes by the Minister of Domestic Trade Cooperative and Consumerism; or
    2. An individual licensed by the Companies Commission of Malaysia (“SSM”);
  4. both the director and company secretary shall have their principal or only place or residence within Malaysia.
Lastly, to qualify for bumi quota in a balloting for a bumi unit, is it advisable to set up a co. or partnership for investment purposes?
Bumi lot can only be purchased by Bumiputera or Bumiputera-owned companies with at least 51% of equity of the companies is owned by Bumiputera.