Bank Negara Malaysia Introduces Qualified Resident Investor Programme to Liberalize Foreign Exchange Rules for Malaysian Companies

In a further step to liberalize the foreign exchange rules for Malaysian residents, Bank Negara Malaysia (“BNM”) has allowed Malaysian corporate investors with investment revenues denominated in foreign currency to apply to BNM for Qualified Resident Investor (“QRI”) status. 

 The QRI programme is open to Malaysian corporate investors that wish to repatriate foreign currency from overseas investments to Malaysia and convert the foreign currency to Malaysian Ringgit, and would like flexibility to redeploy those funds outside Malaysia as direct investments abroad (“DIA”). Foreign currency funds which qualify for the QRI programme are:

• income and proceeds from overseas investments (e.g. dividends, interest and sales proceeds); and
• existing foreign currency funds retained in an Investment Foreign Currency Account with banks in Malaysia. 

Malaysian corporate investors may also apply for QRI status on a corporate group basis. 

Upon successful registration with BNM, Malaysian corporate investors with QRI status will have flexibility under BNM's foreign exchange rules to reconvert their funds to foreign currency for their future DIA. No further BNM approval will be needed for such reconversion from Malaysian Ringgit to foreign currency and payments of those funds out of Malaysia.

Applications for QRI status are open from 1 July 2025 and extends to 30 June 2028. Malaysian companies wishing to register for the QRI status may submit an application to BNM through a form which is available here: https://www.bnm.gov.my/submission-of-application

BNM has provided helpful and detailed FAQs on the QRI programme here: https://www.bnm.gov.my/documents/20124/60360/QRI+FAQ_FINAL.pdf

Malaysian corporate investors with foreign investment income should take advantage of the QRI programme’s fast-tracked pre-approval framework for future re-investment abroad and register as a QRI. The QRI programme will ease such Malaysian investor’s foreign exchange compliance obligations going forward.

If you have any questions or require any additional information, please contact  Loo Tatt King or the partner you usually deal with in Zaid Ibrahim & Co.

This alert is for general information only and is not a substitute for legal advice.