| |
| 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:- |
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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). |
For more information,
click here. |
