Can a Msian freely remit RM abroad

Can a Malaysian resident freely remit Ringgit abroad?

Yes and no. It depends on whether it is:

· to make payment in Ringgit or foreign currency up to the equivalent of RM10,000 to a non-resident for any purpose other than for import of goods;

· subject to the completion of a statistical exchange control form, to pay in foreign currency exceeding the equivalent of RM10,000 to a non-resident for any purpose other than:

- payment for investment abroad; or

- payment under a guarantee for non-trade purposes;

· subject to the completion of a statistical exchange control form, to pay in Ringgit exceeding RM10,000 to a non-resident for:

- purchase of Ringgit instruments, securities registered in Malaysia transacted

through a commercial bank, or other assets in Malaysia;

- salaries, wages, commissions, interest or dividend; or

- sale of foreign currency.

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