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Before a foreigner wants to buy property in malaysia, few rules or regulations are to be followed as below:-

To Define:

Foreign concerns are defined as follows:

  1. Foreign citizens
  2. Companies incorporated overseas
  3. Companies incorporated in Malaysia but more than 50% owned by the above two definitions.

The new FIC ruling,effective on April 25, 2001, foreigners are allowed to own all types of residential and commericial properties costing more than RM250,000/- including shophouses, office spaces and industrial lots in either existing or soon-to be-launched projects.

GENERAL

A Foreigner:-  

can buy all types of residential units, shop-house, shop-office and office space to foreign interest, disregarding the existing quota for foreign interest with conditions,  the properties:-
must be above RM250,000 each
financing must be obtained from out of Malaysia (Amended : funding can be from local 25th April 2001)
the projects must be newly completed or at least 50% constructed (Amended : disregard existing or soon-to be-launched projects.25th April 2001).
All such acquisitions must still obtain the FIC's approval, which will be granted automatically if the above conditions are met (Property transactions under RM20 milllion would only be required to report to the FIC secretariat for record purposes -25th April 2001 ).
YOU CAN BUYSide7.jpg (861 bytes)

Terrace houses which more than 2 stories provided that:-

The total units sold to foreign interest are not more than 10% of the total number of units for a particular type in a residential project constructed (I think this should be amended as well, anybody know, please email me. thank first).
The unit price is more than RM250,000 or as stipulated by the local State Authorities.

Land or bungalow and semi-detached houses provided that:

The total units sold to foreign interest are not more than 10% of the total number of units for a particular type in a residential project. (I think this should be amended as well, anybody know, please email me. thank first).
The unit price is more than RM250,000 or as stipulated by the local State Authorities.
If the land is redeveloped for investment purposes, the purchaser is required to form a Malaysian incorporated company with at least 49% Malaysian equity including 30% Bumiputera (indigenous malays) interest.

Shop

Shop-houses less than 3 storeys high flats (I think this statement remains the same, anybody know , please let me know)
Commercial complex or office space*flats (I think this statement remains the same, anybody know , please let me know)

        at least 49% equity participation by Malaysian citizen including 30%          Bumiputera

 

 

YOU CANNOT BUY :-
Residential

Single-storey and double-storey terraced houses constructed (Amended : disregard the type of property.25th April 2001).
Low and medium-cost residential houses and flats (I think this statement remains the same, anybody know , please let me know)
Residential houses built on Malay Reserve land (I think this statement remains the same, anybody know , please let me know)
Residential houses reserved for the Bumiputera (indigenous malays) (I think this statement remains the same, anybody know , please let me know)

Commercial

Low cost shops (I think this statement remains the same, anybody know , please let me know)
Stalls (I think this statement remains the same, anybody know , please let me know).
Service workshops  (I think this statement remains the same, anybody know , please let me know)
Commercial buildings built on Malay Reserve land) (I think this statement remains the same, anybody know , please let me know).