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Singapore Property Agents Breaking Malaysian Laws to Make a Quick Buck

Singapore real estate agents are entering Malaysia as visitors and soliciting for business without a work permit to capitalise on the boom in the Iskandar Malaysia property market.

 

This was said by Malaysian Institute of Estate Agents Johor branch chairman S. Vadeveloo. He said these property agents have been flouting immigration laws for quite some time. He said these agents would focus on Singaporeans and foreigners in Malaysia were looking for new or secondary-market properties.

 

“The commission gained from a transaction goes into their pocket and they escape paying tax to the Inland Revenue Board.”

 

In Malaysia, local real-estate negotiators must be registered with the Board of Valuers, Appraisers and Estate Agents.

 

Unlawful representation by a broker is punishable by a fine of up to RM300,000 or a jail term of up to three years, or both, under the Valuers, Appraisers and Estate Agents Act 1981.

 

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