This article first appeared in The Edge Financial Daily on August 29, 2018

KUALA LUMPUR: The Malaysian government has clarified that Malaysia imposes certain conditions, irrespective of nationality, on the purchase of properties by foreigners, and that information regarding these conditions are publicly available.

“The purchase of properties, however, does not guarantee automatic residency in the country,” the Prime Minister’s Office (PMO) said in a statement.

“For foreigners wishing to make Malaysia their permanent residence, there is a government programme called Malaysia My Second Home (MM2H).

“Conditions are clearly spelt out for those interested and information on this programme is also publicly available,” the PMO said.

The statement was issued following Prime Minister Tun Dr Mahathir’s pronouncement on Monday that the US$100 billion (RM410 billion) Forest City Development in Johor is not for foreign buyers, and that the government would not be giving visas for foreigners to go and live there.

Meanwhile, the PMO also said Malaysia has not imposed any restrictions on foreign tourists to the country, and that it welcomes all — including those from China —as long as they meet all necessary immigration requirements .

“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 coming years,” it said.

It also reiterated that it welcomes foreign direct investments that contribute to the transfer of technology, provide employment for locals and the setting up of industries.