Deregulation of property acquisition by foreign interests
The Foreign Investment Committee(FIC) will only process transactions involving the dilution of Bumiputera (Malay indigenous people) interests and/or Government interests in properties valued at RM 20 million and above. All other property transactions shall no longer require the approval of FIC. However, foreign interests cannot acquire commercial properties valued at less than RM 500,000 (approximately US $165,000). This measure eases the regulations on property acquisitions, enhances transparency and reduces regulatory processes.
Type: Entry and establishment (Access to land)
Industry: Not industry specific
- Government, GP Properties, Apr 23, 2010