Are foreign nationals allowed to own property in Malaysia?
Since late 2006, the Malaysian government are actively promoting the purchase of Malaysian real estate by foreign nationals, initially by removing obstacles which were preventing investors from purchasing (removal of the FIC approval requirement which was a lengthy process) and more recently by abolishing Capital Gains tax on any sale after 31st of March 2007. There are some restrictions, such as minimum property prices subject to area and certain property is restricted to Malay nationals only. Low-cost or Medium-cost property can not be purchased by foreign nationals, neither can they purchase property which is part of the Bumiputra quota (Malay and other indigenous peoples of Malaysia). In Malaysia it is necessary to ascertain with the land offices whether the property you are considering is leasehold or freehold, as both situations are available in the country.
