Letting Of Landed Property Companies in Malaysia

Landed property companies in Malaysia are required to obtain a licence from the Ministry of Urban Wellbeing, Housing and Local Government (KPKT) in order to operate. The licence is valid for a period of one year and must be renewed annually.

Landed property companies are required to comply with the following criteria:

1. The company must be registered with the Companies Commission of Malaysia (SSM).

2. The company must have a minimum paid-up capital of RM2 million.

3. The company must have a minimum of five years’ experience in the property development or management industry.

4. The company must have a valid professional indemnity insurance policy with a minimum coverage of RM5 million.

5. The company must have a valid workers’ compensation insurance policy.

6. The company must have a valid public liability insurance policy with a minimum coverage of RM5 million.

7. The company must have a valid performance bond of RM1 million from a financial institution.

8. The company must have a valid bank guarantee of RM1 million from a financial institution.