What are the Guidelines of buying property if you are a foreigner?

GUIDELINES

(as provided by the Economic Planning Unit)

  1. Acquisitions of property that do not require the approval of the Economic Planning Unit (EPU) (but falls under the purview of the relevant Ministries and/ or Government Departments) are as follows:-
    1. Commercial units valued at RM500,000 and above;
    2. Agricultural land valued at RM500,000 and above or at least five (5) acres in area for the following purposes:-
      • to undertake agricultural activities on a commercial scale using modern or high technology; or
      • to undertake agro-tourism projects; or
      • to undertake agricultural or agro-based industrial activities for the production of goods for export.
    3. Industrial land valued at RM500,000 and above; and
    4. Transfer of property to a foreigner based on family ties is only allowed among immediate family members.
  2. Residential unit valued at RM500,000 and above (this acquisition falls under the purview of the State Authorities).
  3. Residential units acquired under “Malaysia My Second Home”.

 

RESTRICTIONS

Foreign interest is NOT ALLOWED to acquire the following:-

  • Properties valued less than RM500,000 per unit;
  • Residential units under the category of low and low-medium cost as determined by the State Authority;
  • Properties built on Malay reserve land; and
  • Properties allocated to Bumiputera interest in any property development project as determined by the State Authority.

For any enquiries and informations, please contact us at +603 7729 9988 or enquiry@kimrealty.com.my