All property acquisitions, except for residential units, that requires approval of the Economic Planning Unit, Prime Minister’s Department as follows:

 

a)   direct acquisition of property valued at RM20 million and above, resulting in the dilution in the ownership of property held by Bumiputera interest and/or   

      government agency ;and

b)   indirect acquisition of property by other than Bumiputera interest through acquisition of shares, resulting in a change of control of the company owned by   

      Bumiputera interest and/or government agency, having property more than 50 percent of its total assets, and the said property is valued more than RM20 million

 

All property acquisitions by foreign interest that do not require the approval of the Economic Planning Unit, Prime Minister’s Department but fall under the purview of the relevant Ministries and/ or Government Departments as follows:

 

a)   acquisition of commercial unit valued at RM1,000,000 and above ;

 

b)   acquisition of agricultural land valued at RM1,000,000 and above or at least five (5) acres in area for the following purposes:

 

      i)     to undertake agricultural activities on a commercial scale using modern or high technology; or

 

      ii)     to undertake agro-tourism projects ; or

 

      iii)    to undertake agricultural or agro-based industrial activities for the production of goods for export.

 

c)   acquisition of industrial land valued at RM1,000,000 and above;

 

d)   transfer of property to a foreigner based on family ties is only allowed among immediate family members.

 

Acquisition of residential unit by foreign interest valued at RM1,000,000 and above. This acquisition, however, does not require the approval of the Economic Planning Unit, Prime Minister’s Department but falls under the purview of the State Authorities.

 

 

RESTRICTIONS

 

Foreign interest is NOT ALLOWED to acquire:

 

• Properties valued less than RM1,000,000 per unit;

• Residential units under the category of low and low-medium cost as determined by the State Authority;

• Properties built on Malay reserved land; and

• Properties allocated to Bumiputera interest in any property development project as determined by the State Authority.