Real Estate Activities With Own Or Leased Property Nec Companies in Malaysia

REAL ESTATE ACTIVITIES WITH OWN OR LEASED PROPERTY NEC COMPANIES IN MALAYSIA

According to the Companies Commission of Malaysia, real estate activities with own or leased property nec companies in Malaysia are required to comply with the provisions of the Real Estate and Housing Developers (Control and Licensing) Act 1966.

In order to carry out real estate activities with own or leased property, nec companies in Malaysia must firstly obtain a housing developer license from the Ministry of Housing and Local Government. The application for a housing developer license must be made to the Registrar of Companies and must be accompanied by the prescribed fees.

Once the company has been granted a housing developer license, it will be required to comply with the provisions of the Real Estate and Housing Developers (Control and Licensing) Regulations 1989. These regulations set out the requirements for the preparation and submission of plans, the carrying out of works, the sale of properties and the winding up of a housing development.

It should be noted that real estate activities with own or leased property nec companies in Malaysia are also subject to the provisions of the Strata Titles Act 1985 and the Strata Management Act 2013.