Can Foreign Company Buy Property in Malaysia?
2024-06-11
Malaysia’s property market is well-regulated, with financial and practical oversight of everything, from the construction through to property loans. There’s a lot of regulation to keep you, and the industry as a whole, safe with your investment.
Malaysian welcome outside buyers into their property market, whether as an expat looking for a great new home, or an investor looking for a fantastic investment opportunity. The legislation for foreign companies is outlined in the National Land Code 1965 as stated below: –
- (a) A company, corporation, society, association or other body incorporated outside Malaysia;
- (b) An unincorporated society, association or other body which under the law of its place of origin may sue or be sued, or hold property in the name of the secretary or other officer of the body or association duly appointed for that purpose and which does not have its head office or principal place of business in Malaysia;
- (c) A company incorporated with 50% or more of voting shares held by non-citizen/foreign company or by both; OR
- (d) A company incorporated with 50% of more of voting shares held by the company in (c);
Alongside the National Land Code 1965, purchase of properties by foreign individuals is covered by Malaysia’s Guidelines on the Acquisition of Properties.
Permission on property purchase for foreigners must be granted by the relevant state authorities.
The state is empowered to mandate individual requirements or payment terms at its own discretion. That means although you can buy property, you might have to pay a transaction sum for the privilege in some cases.
Reference: PropertyGuru Malaysia