Malaysia Welcomes All Foreign Real Estate Investors, No Restrictions if Requirements Are Met
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The Malaysian Prime Minister's Office has issued an official statement on 28th August, stating that Malaysia welcomes all tourists, including China, and Malaysian officials do not impose any restrictions on foreign tourists who meet the entry requirements imposed by the Malaysian authorities.
In the case of China, tourists are given a single-entry 30-day visa to the country. In 2017, Malaysia attracted some 2.3 million Chinese tourists and is looking to attract up to 10 million in the future.
Regarding the purchase of real estate by foreigners, regardless of the nationality of the investor, Malaysia imposes certain restrictions and information on these existing conditions are publicly available. However, the purchase of a property does not guarantee automatic residency in the country.
For foreigners who are interested in obtaining permanent residency in Malaysia, Malaysia currently has a government project called “Malaysia My Second Home” (MM2H). Interested foreigners can also learn about the application conditions through public channels.
The statement also stated that Forest City has complied with all local laws and regulations as well as obtaining the necessary approval To purchase and sell outside of Malaysia. Forest City, being a new city of the International Industrial Capacity Cooperation, bringing in superior global capital, technology and educational medical resources, has driven the development of the industry. The development will also create hundreds of thousands of job opportunities for the local, and play a positive role in the employment and economic advancement of Malaysia and the State of Johor.
The Federal Government reiterates its welcome to foreign direct investment that can bring about technology transfer, provide local employment and set up industries.