InsiderTAPS (January 2007)
Insider TAPS Issue 01 - Foreigners Permitted to Buy Residential Property in Malaysia without FIC Approval
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With effect from 21 December 2006, foreigners are allowed to buy residential property worth more than RM250,000 per unit without the approval of the Foreign Investment Committee of the Economic Planning Unit in the Prime Minister’s Department. The government hopes to generate economic growth by encouraging foreign investors to buy high-end residential property. The increase in investments in the property sector by foreign investors will help enhance the inflow of foreign currency exchange.
For more information, please visit www.epu.jpm.my