# Can a Foreign-Owned Company Buy Industrial Property in Malaysia? | 外资公司可以在马来西亚购买工业地产吗？
Malaysia continues to attract manufacturers, logistics operators and technology companies seeking factories, warehouses and industrial land in Southeast Asia. For an overseas investor, however, finding a suitable building is only the first step. The buyer must also confirm whether its ownership structure, the land title and the proposed business activity can satisfy the relevant federal, state and local requirements.
马来西亚持续吸引来自中国及其他国家的制造商、物流企业和科技公司寻找厂房、仓库与工业用地。不过，对海外投资者而言，找到合适的物业只是第一步。买家还必须确认公司的持股架构、土地权属及拟经营业务，是否符合联邦、州政府与地方政府的相关要求。
> This article provides general information, not legal, tax or investment advice. Requirements can differ by state, transaction structure, property and business activity. Obtain written advice from the relevant authorities and Malaysian professional advisers before committing to a purchase.
>
> 本文仅供一般参考，不构成法律、税务或投资意见。具体要求会因州属、交易结构、物业及经营活动而异。签署交易文件前，应向相关政府部门及马来西亚专业顾问取得书面确认。
## Short answer | 简短答案
In principle, a foreign-owned company may acquire qualifying industrial property in Malaysia, subject to the applicable rules. The Economic Ministry's property-acquisition guideline refers to industrial land acquired by a foreign interest at RM1 million and above and requires property under that category to be registered in the name of a locally incorporated company. However, this federal reference does **not** replace State Authority rules. The relevant state may impose its own minimum price, consent procedure, title restrictions or additional conditions.
原则上，外资公司可在符合条件的情况下购买马来西亚工业地产。马来西亚经济部的房地产收购指南提到，外资权益收购价值 RM1 million 或以上的工业土地时，有关物业须登记在马来西亚本地注册公司名下。不过，这项联邦层面的参考标准**不能取代州政府的规定**。有关州政府仍可能设定不同的最低价格、批准程序、地契限制或附加条件。
The practical answer is therefore not simply “yes” or “no”. It is: **yes, if the buyer, property, proposed use and approvals all qualify**.
所以，实际答案并非简单的“可以”或“不可以”，而是：**只要买方主体、物业条件、拟定用途及所需批准全部符合要求，就有可能进行收购。**
## 1. Use the correct Malaysian acquisition vehicle | 采用正确的马来西亚收购主体
The Economic Ministry guideline defines a foreign interest broadly and includes a Malaysian company in which foreign parties hold more than 50% of the voting rights. For the foreign-acquisition category covering industrial land, the property must be registered under a locally incorporated company.
经济部指南对“外资权益”的定义较广，也包括外国人士持有超过 50% 投票权的马来西亚本地公司。就指南涵盖的外资工业土地收购而言，物业须登记在马来西亚本地注册公司名下。
Before making an offer, investors should decide:
- which Malaysian entity will own the property;
- whether the operating company and property-owning company will be the same entity;
- how the purchase will be funded;
- whether the company structure affects financing, tax, licensing or incentives; and
- who is authorised to sign the offer, sale agreement and financing documents.
投资者在报价前应先确认：
- 哪一家马来西亚公司负责持有物业；
- 营运公司与物业持有公司是否为同一主体；
- 收购资金将如何安排；
- 公司架构是否影响融资、税务、执照或投资优惠；以及
- 谁获授权签署报价、买卖合约与融资文件。
## 2. Check the State Authority rules before signing | 签约前先核实州政府规定
Land is a state matter in Malaysia. A transfer to a foreign interest may require State Authority consent, and the applicable conditions can vary between states. A price that satisfies a federal guideline does not automatically mean the property is eligible for foreign acquisition in every state.
马来西亚的土地事务由各州管辖。物业转让给外资权益可能需要州政府批准，而不同州属的条件可能不同。即使交易价格符合联邦指南，也不代表该物业在每一个州都自动符合外资收购资格。
The purchaser's lawyer should verify:
- the current foreign-acquisition threshold for the relevant state;
- whether prior State Authority consent is required;
- the expected consent documents and processing period;
- whether the title carries an express restriction in interest;
- whether the property is a Bumiputera-allocated unit or Malay Reserve Land; and
- whether any special industrial-park or development conditions apply.
买方律师应核实：
- 有关州属现行的外资收购最低门槛；
- 是否必须事先取得州政府批准；
- 批准所需文件及预计处理时间；
- 地契是否含有明文利益限制；
- 物业是否属于土著保留单位或马来保留地；以及
- 有关工业园或发展项目是否附带特别条件。
The Economic Ministry guideline states that foreign interests are not permitted to acquire property valued below RM1 million per unit, Malay Reserve Land, or property allocated to Bumiputera interests in a designated development. State and title-specific checks remain essential.
经济部指南说明，外资权益不得收购每单位价值低于 RM1 million 的物业、马来保留地，或指定发展项目中分配给土著权益的物业。即使如此，仍必须进行州属及个别地契层面的核查。
## 3. Determine whether Economic Ministry approval applies | 判断是否涉及经济部批准
Not every foreign acquisition requires the same federal approval. Under the current published guideline, certain transactions involving a reduction in Bumiputera or government-agency property ownership at RM20 million and above require Economic Ministry approval. Other foreign acquisitions may fall under the jurisdiction of the relevant ministries, departments or State Authority instead.
并非所有外资收购都需要同一种联邦批准。根据目前公布的指南，若价值 RM20 million 或以上的直接收购导致土著或政府机构的房地产权益减少，可能需要经济部批准。其他外资收购则可能由相关部委、政府部门或州政府管辖。
The same guideline lists an exemption for industrial land acquired by a manufacturing company. An exemption from one approval requirement does not remove the need for State Authority consent, title compliance, planning permission, licences or other operational approvals.
同一份指南也列出制造公司收购工业土地的相关豁免。不过，获豁免某一项批准，并不代表无需取得州政府同意、遵守地契条件、规划许可、营业执照或其他营运批准。
Because transaction structures can materially change the analysis, the buyer's lawyer should confirm the approval route in writing before the sale and purchase agreement becomes unconditional.
由于不同交易架构会直接影响审批判断，买方律师应在买卖合约成为无条件前，以书面方式确认正确的审批路径。
## 4. Buying the property does not approve the factory operation | 买到物业不等于获准营运
Ownership and operational approval are separate questions. A building may be legally transferable but still be unsuitable for the purchaser's manufacturing process, workforce, power demand, emissions, wastewater or storage requirements.
物业所有权与营运批准是两个不同问题。即使厂房可合法转让，也未必适合买方的生产工艺、员工人数、电力需求、空气排放、工业废水或储存要求。
MIDA states that a manufacturing company with shareholders' funds of RM2.5 million or more, or 75 or more full-time paid employees, must apply for a manufacturing licence under the Industrial Co-ordination Act 1975. A smaller qualifying manufacturer may apply for an exemption letter.
MIDA 说明，根据《1975 年工业协调法令》，若制造公司的股东资金达到 RM2.5 million 或以上，或聘用 75 名或以上全职受薪员工，便须申请制造业执照。符合条件的小型制造企业则可申请制造业执照豁免函。
Depending on the operation, the buyer may also need to review:
- planning zoning and Kebenaran Merancang;
- building plans and CCC;
- local authority business and premise licences;
- fire-safety requirements;
- DOE requirements for emissions, industrial effluent and scheduled waste;
- TNB power capacity and connection lead time;
- water, sewerage, gas and telecommunications availability; and
- customs, bonded-warehouse or sector-specific approvals.
根据实际业务，买家还可能需要核查：
- 规划分区与规划许可（Kebenaran Merancang）；
- 建筑图及完工与合规证书（CCC）；
- 地方政府营业及场所执照；
- 消防安全要求；
- DOE 对空气排放、工业废水及受管制废料的要求；
- TNB 电力容量及接电周期；
- 水务、排污、天然气及电讯供应；以及
- 海关、保税仓库或行业特定批准。
## 5. Make the offer and SPA conditional | 报价与买卖合约应设先决条件
Foreign investors should avoid treating approval risk as an issue to solve only after signing. The offer letter and sale and purchase agreement should be drafted by Malaysian lawyers and may need conditions covering:
- satisfactory legal, technical and environmental due diligence;
- State Authority and other required approvals;
- confirmation of permitted use;
- financing approval;
- vacant possession or agreed tenancy arrangements;
- accuracy of land and building measurements; and
- a clear refund and termination mechanism if a required approval is refused.
外资投资者不应在签约后才处理审批风险。报价函与买卖合约应由马来西亚律师拟定，并可考虑加入以下先决条件：
- 法律、技术及环境尽调结果令买方满意；
- 取得州政府及其他必要批准；
- 确认拟定用途获准；
- 融资获批；
- 空置交付或双方同意的租约安排；
- 土地及建筑面积准确；以及
- 若必要批准被拒，订金退还及终止机制必须清晰。
## Frequently asked questions | 常见问题
### Can a Chinese-owned Malaysian company buy a factory in Malaysia? | 中国股东持有的马来西亚公司可以买厂房吗？
Potentially yes, provided that the company, property value, title, proposed use and required approvals satisfy the applicable federal and state rules. The purchaser should obtain state-specific legal advice before making the transaction unconditional.
原则上有可能，但公司主体、物业价值、地契、拟定用途及所需批准必须符合联邦及州政府规定。买方应在交易成为无条件前取得有关州属的法律意见。
### Is RM1 million the minimum price everywhere? | RM1 million 是否适用于所有州？
No. RM1 million appears in the federal Economic Ministry guideline, but individual states may impose different minimum thresholds or additional requirements. Always verify the current rule for the state where the property is located.
不是。RM1 million 是经济部联邦指南中的参考门槛，但各州可能规定不同的最低价格或附加条件。必须核实物业所在州属的现行规定。
### Does industrial title guarantee that manufacturing is allowed? | 工业地契是否保证可以进行制造业？
No. Buyers must also check planning zoning, express title conditions, Kebenaran Merancang, building approval and the suitability of the intended manufacturing activity.
不能。买家还须核对规划分区、地契明文条件、规划许可、建筑批准及拟定制造活动是否适合。
### Does purchasing industrial land automatically provide a manufacturing licence? | 买下工业地后是否自动获得制造业执照？
No. Property ownership and manufacturing licensing are separate. The operating company must determine whether a manufacturing licence or exemption letter is required.
不会。物业所有权与制造业执照是分开的。营运公司必须判断是否需要申请制造业执照或豁免函。
### Should an overseas company buy or lease first? | 海外企业应该先买还是先租？
It depends on the investment horizon, approval timeline, capital allocation and the need for a customised facility. Leasing can support a faster market entry, while ownership may suit a long-term operation requiring substantial building and utility investment.
这取决于投资年限、审批周期、资金配置及是否需要定制厂房。租赁有助于较快进入市场；若企业计划长期经营，并需要大量投入建筑与基础设施，购买物业可能更适合。
## How XPillar supports industrial site selection | XPillar 如何协助工业选址
XPillar helps manufacturers and investors discover industrial land, factories and warehouses across Malaysia. A serious site comparison should go beyond asking price and floor area: it should also consider title, zoning, power, access, building compliance and operational suitability.
XPillar 协助制造商及投资者寻找马来西亚各地的工业土地、厂房与仓库。专业选址不应只比较价格与建筑面积，还应考虑地契、规划、电力、交通、建筑合规及营运适用性。
Browse industrial properties in Malaysia or contact XPillar to discuss your site requirements. Buyers should appoint their own lawyers, tax advisers, engineers and other specialists for formal due diligence and approvals.
您可浏览 马来西亚工业地产，或 联系 XPillar 讨论选址需求。买家仍应委任自己的律师、税务顾问、工程师及其他专业人士，进行正式尽调与审批。