The coordination and regulation of the acquisitions of assets, including real property, by foreign interests, is undertaken by the Foreign Investment Committee (FIC) in the Prime Minister’s department through the issuance of guidelines. Compliance with the guidelines is expected. Non-residents may invest in Malaysian property by direct ownership, or through Malaysian incorporated companies or property trusts.
During the Invest Malaysia Conference on 30 June 2009, the Malaysian government announced further liberalisation measures to facilitate greater property transactions and investments made by foreign interests.
Based on the relaxed FIC guidelines, effective from 1 January 2011, a foreign interest is not allowed to acquire:
- properties valued less than MYR 500,000 per unit.
- residential units under the category of low and medium low cost as determined by the State Authority.
- properties built on Malay reserve land.
- properties allocated to Bumiputera interest in any property development project as determined by the State Authority.
Source : PWC