Latest Selangor Guidelines on Property Purchases by Foreigners

 

  :::  SELANGOR STATE NEW GUIDELINES FOR FOREIGN PURCHASERS  :::

1. This new guideline shall apply to all Sale & Purchase Agreement which are dated after 1 September 2014.

2. Foreign Purchasers refer to any purchase made by non-Malaysian, PR Holders and Foreign Companies.

3. The properties in Selangor shall be categorised into three (3) zones, as the following:
ZONE 1:
- Daerah Petaling
- Daerah Gombak
- Daerah Hulu Langat
- Daerah Sepang
- Daerah Klang
ZONE 2:
- Daerah Kuala Selangor
- Daerah Kuala Langat
ZONE 3:
- Daerah Hulu Selangor
- Daerah Sabak Bernam

4. No more than 10% of Non-Bumiputera units can be sold to Foreigner.

5. Foreigner is NOT ALLOWED to purchase the following:
- Landed/Non-Strata Residential-Titled Buildings
- Public Auction Property
- Agricultural Land and Malay Reserved Land

6. For Residential:
- Minimum purchase price of RM2 million for properties located in Zone 1 and Zone 2.
- Minimum purchase price of RM1 million for properties located in Zone 3.

7. For Commercial:
- Minimum purchase price of RM3 million for properties located in Zone 1, 2 and 3.

8. For all Industrial:
- Minimum purchase price of RM3 million for properties located in Zone 1, 2 and 3.
- The acquirer of industrial require a requisite license from the Ministry of International Trade & Industry (MITI) and follow all other current regulations.

9. Acquisition of Property by a Foreigner under Malaysia My Second Home (MM2H) Programme are as follows:
- Foreigner must only purchase directly from a Developer (and not from secondary market) in accordance with the respective zoning requirements.
- The minimum purchase price must be in accordance to the respective zonings.
- Foreigner is only entitled to One (1) Residential unit per family.
- The approval granted is not transferrable. However, the State shall consider transfer of properties by way of love and affection between close family and foreign interest named as beneficiaries in a will.
- The Foreigner must obtain the prior approval from Immigration Department together with the endorsed Visa/Passport for the MM2H Programme.