If they had had a million ringgit, they would not have left home in search of a better life on foreign shores. Now, it is this very lack of it that could drive them home again.
To stem the influx of foreign traders in the city, City Hall is introducing new guidelines that will apply to both new and existing businesses owned by foreigners, effective next year.
One of the new rules is that the foreigner will be required to have a minimum RM1 million capital to open a business in Kuala Lumpur.
City Hall has also listed down 23 types of businesses that are prohibited to foreigners in the city. Among others, they may not own a restaurant, hawker stall, mini market, food and beverage outlet and food kiosk, nor are they allowed to sell prepaid cards, business cards, phone accessories and other forms of trade.
