FIC is now abolished. Now foreigners need only to apply to the Land Offiec for consent to purchase.However, if the purchase value is more RM20 million and it involves bumiputra shareholding, the foreigner needs to apply for consent from the Economic Planning Unut (EPU). than A foreigner can buy a bungalow land under individual name but if it as a development land, a locally incorporated company (with local shareholders or directors) has to be registered to acquire the land.
For further advise, need to understand your intent and needs.
Thank you
David Wong
Principal
QUANTUM real estate
License E(3)1320
mobile:
+60193330573
tel:+60377289108
email:davidwong@quantumrealestate.com.my
www.quantumrealestate.com.my
Read More
