Hello everyone,

I am a foreigner with 3 other foreign partners own a Malaysian Sdn Bhd company. (100% foreign ownership)

We are yet to apply for work permit and open personal bank accounts for the directors.

We already have a bank account for company at SCB.

I wanna know the minimum value for a property (condo) we can purchase under this company or its directors name (after work permit all settle).

Also if banks finance for such projects and % of loan they usually give.

Looking for property in Selangor.


Thanks

This post has been edited by sidhrath: Jun 28 2016, 02:41 AM

Selangor for zone 1 & 2 minimum is RM2 million.

As far as I know, the minimum purchase price is based on the zoning, i.e location of the target property. For residential properties, minimum purchase price is RM2 mil in Zone 1 (District of Petaling, Gombak, Hulu Langat, Sepang, Klang) and Zone 2 (District of Kuala Selangor, Kuala Langat) and minimum purchase price RM1mil in Zone 3 (District of Hulu Selangor, Sabak Bernam). However, purchase of landed residential properties are not allowed. It would be prudent to check the district in which the property is located. There are other criterias which may apply for purchase by a foreign company as well.

so basically it is the same as a foreigner who doesn't live in Malaysia or run a business buying a property ?

I was lead to believe that since owning a company and work permit the minimum purchase price didn't apply.

Looking for property in Puchong/Seri Kembangan. Anyone know this Zone min purchase price ?


Thanks for the replies.

The restrictions are applicable to foreigners, PRs and foreign companies. I believe it's the same for individual foreigners and foreigners carrying on a business and buying properties in Malaysia unless there are any special incentives which I'm not aware of. Anyone heard of special incentives for foreigners carrying on business in Malaysia and purchasing properties whereby the minimum purchase price is not applicable?

I've seen land titles for Puchong/Sri Kembangan properties which falls under the district of Petaling and Sepang and hence I believe it falls under Zone 1.

It's falls under zone 1, minimum property price is 2million.