|
 |
| Quick
Access |
|
|
|
|
| (IX) LAND AND
BUILDING OWNERSHIP |
| (1) REGULATION
ON ACQUISITION OF LAND AND BUILDING |
Foreigners cannot own land but can lease it for periods up to
30 years, or more if approved by MIC, from the government.
The lease can be extended if the project is mutually beneficial
between the Investor and the State.
|
(2) RESTRICTIONS |
According to Transfer of Immovable Property Restriction Law
(1987), a foreigner or a foreign company cannot lease any immovable
property from the private sector more than one year at a time.
|
|
|
|
