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FOREIGN INVESTMENT COMMITTEE (FIC) GUIDELINES FOR THE ACQUISITION OR PROPERTIES BY LOCAL AND FOREIGN INTERESTS IN MALAYSIA

 
This Guideline is effective from 1 August 2004. A brief summary is outlined below:
 
A. Acquisition of property by Local Interest
I) The acquisition of properties by Malaysians under RM10 million does not require the approval of the FIC.
II) Acquisition of property between RM10 million and less than RM20 million in value needs only to be notified to FIC if the transactions involve the following parties:-
  a) By Bumiputera from Bumiputera
b) By Bumiputera from non-Bumiputera
c) By non-Bumiputera from non-Bumiputera
d) By local from foreign
III) Acquisition of property by the following parties at the value stated below requires approval by FIC:
  a) By non-Bumiputera from Bumiputera valued at RM10 million or more
b) By local interest valued at RM20 million or more.
 
B. Acquisition of property by Foreign Interest
I) Any acquisition of property by foreign interest including permanent resident requires the approval of FIC
II) II) Foreign interest is allowed to acquire property valued more than RM150,000 except for the following:
  a) low and medium low cost as determined by the State Authority
b) all properties built on Malay reserve land
c) properties allocated to Bumiputera as determined by the State Authority
d) stall and service workshop
e) single and double sotrey shop houses from owners who are not property developers and agricultural land developed on the basis of the “Homestead” concept.
   
C. Relaxation for Permanent Resident
I) Permanent Residents whose spouse is a Malysian citizen, are allowed to acquire residential unit valued less than RM150,000 but more than RM60,000 except for properties under Section B II).


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