We have the best news for luxury car buyers who neither want to pay import tax, nor have to store their vehicle in Langkawi; those who want to be able to drive their supercar anywhere in the country without needing to register and store it in Langkawi or Labuan.
There is a loophole in the system that allows for you to import in the very latest luxury vehicles, like the Ferrari 488 Pissa, a McLaren 720S, the very latest 2018 Rolls Royce Phantom or even a 2018 Range Rover Sport SVR without having to pay for an Approved Permit (AP) or any heavy taxes.
This is a running business done by one very exclusive Malaysian importer and it is completely legal and valid for one full year (365 days).
1. Choose your desired vehicle in the United Kingdom (UK). It can the very latest model, no issue at all.
2. Order and pay for it in British Pounds Sterling (GBP).
3. Take ownership and register it in the UK with a British license plate (you can choose individual plates like ‘DSF 1’ or ‘I Love 888’).
4. Contact the Malaysian company that is doing this business.
They will instruct you to pay a fully refundable deposit/bond of 30% of your vehicle’s purchase value in the UK to a British bank in the UK (so, if you buy your new car for 100,000 GBP, so your refundable deposit/bond will be just 30,000 GBP.)
5. The Malaysian company will register your car with this special LEGAL import ‘car passport’ and they will handle all the necessary documentation, as well as shipping and delivery to your doorstep in Malaysia.
6. You then can drive this car for 365 days around Malaysia with your British number plate and a legal car passport and the local police and JPJ know about this.
7. After 365 days you will need to return/export your vehicle to the UK to be sold – most luxury exclusive cars these days can be sold for a profit – or you can re-import your luxury car back to Malaysia with a local Approved Permit (AP) which the dealer will provide you with for a price, and a much-reduced import tax as you have already used the car for a year.
This means you can own luxury cars year after year for free if you choose the car wisely – it is best to get limited edition cars from Ferrari, Lamborghini, Porsche or McLaren.
For more information on this and who to contact please email us at www.dsf.my and we will share the information with you.
This article is powered by DS&F, visit www.dsf.my for more automotive updates
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