Registered Estate Agent | Page 2 | Malaysian Institute of Estate Agents

Registered Estate Agent

Can a non-registered person or corporation allowed to own shares in the registered firm?

Yes, non-registered person/s or corporation is allowed to own shares but not exceeding 49% equity of the firm. To allow this to happen, a holding company must be established which must be 100% owned by the registered persons only. This holding company is then required to own not less than 51% of the registered firm. A majority of the directors in the registered firm must be a registered person. (Example, if the registered firm has 5 directors, 3 of them must a registered person)

Who can set-up a real Estate Agency Firm?

Anyone who is registered with the Board as mentioned above is entitled to set-up a real estate agency firm. The firm can be either operated as a sole-proprietor, partnership or body corporate (Sdn Bhd). For sole-proprietor, the proprietor of the firm must be a registered person with BOVAEA. For partnership, both the partners must be registered person. For body corporate, at least two of the directors must be a registered person. Any of these set-up as approved by the Board are called the registered firm.