Relaxes foreign property ownership
11 Oct 2019
As part of the Budget 2020, the Finance Minister announced the lowering of the RM 1 million threshold on foreign property ownership to address the country’s property overhang. In particular,
1) The foreign ownership threshold has been lowered from RM1 million to RM600,000.
2) The change is applicable to high-rise properties in urban areas.
3) It is limited to a one-year period (2020).
4) No citizenship is granted to foreign property buyers.
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Type:
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Entry and establishment (Access to land)
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Industry:
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Services (Real estate activities)
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Sources:
