Episode 53 - UPDATED *June 2024* Malaysia My Second Home (MM2H) Criteria
āļāļąāļ
- āđāļāļĒāđāļāļĢāđāđāļĄāļ·āđāļ 8 āļ.āļĒ. 2024
- Episode 53 - UPDATED June 2024 Malaysia My Second Home (MM2H) Criteria
ðwww.alphamarketingsg.com
ðWhatsApp: +65 8126 1626 / chatwith.io/s/...
ð§Email: ryan.khoo@alphamarketingsg.com
ðĨFree Membership Investment Club: / 138144292918617
Tiktok: www.tiktok.com/@learnpropertywithryan
linktr.ee/ryan...
The agent fee is outrageous! No other country imposes such high fees. Forcing people to hold a property for 10 years makes no sense, especially given the oversupply in the Malaysian property market. Dubai is now far cheaper than the MM2H Silver tier. Competing countries will benefit from the flaws in the MM2H policy.
Sure. If you like to retire in Dubai, go ahead
@@AlphaMarketingSG Dubai is just an example, the list is endless, especially with $1mil USD being locked in a foreign bank and along with other rules such as the apparent scheme whereby using MM2H applicants to artificially and specifically support the local real estate developments. the tone and the language used and projected under the current MM2H revision seems quite unrealistic in placement of Malaysia 's marketability.
@@AlphaMarketingSG malaysia's new MM2H is going to lose many retirees planning to retire in SEA who say they are not keen in holding properties ( whatmore...5 yrs policy must hold 10 years property??). There are other countries offering similar policies excluding mandatory property purchase.
@@chion918 Well said.
@@AlphaMarketingSG Dubai was just a simple example :)
Thanks for dishing out the information quickly. I think the categories (except the 4th) are not going to work for retirees - if these are whom the MM2H is meant for. Why would any retiree who is attracted to Malaysia wants to hold US$1ml in a bank account that will allow the funds to be spent on education (for whom?), buying home (why would a retiree want to get any long-term loan even if he can?), medical care (seriously, 500k or even 250k for medicals?), tourism (hey! I am already here and spending in Msia!)? Retirees enjoy the freedom and this is what they want. Why would they want to put all their cash into a fixed asset for 10 years and having to incur extra cost maintaining the house for what?
its a common requirement for most golden visa programs including those in Europe. You can check out other similar visa programs
@@AlphaMarketingSG Other programs where property ownerships is a requirement mostly lead to residency status, this does not. Big difference. We are MM2H holders on the 2017 rules - will existing MM2H holders remain on rules when we applied?
@@FrancoisT if you have an existing MM2H visa, that will carry on until its end, then you have to see what kind of terms they offer you for renewal
Thanks Ryan - I received communication from our agent and they also believe that the old rules for existing holders will be "grandfathered" and thus carried forward for renewals as well. Time will tell.
This is very good info Ryan - thank you! You're the first person on TH-cam that I've seen discuss the SEZ in JB, very interesting option. One thing I did not hear you mention was visa renewals. Before these latest updates were released, the 5-year and 15-year were advertised as "renewable" but so far I have yet to get that confirmed with this latest update. Thanks again.
Renewable for 5 years after expiry. Its mentioned in the document
The agent fee is astronomically high ðĒ this does not make sense at all
Out to suck money, the agent fee of RM40,000 is simply unjustifiyable
that one you have to talk to the agent
I hope this MAX verbiage means that it will be highly negotiable with individual agents
If we have relations in Malaysia, they can become our guarantor and self application should be granted without an agent
@@appreciatier you know or you hope so? does it have to be relations or can it be a Malaysian citizen one knows well who is willing to pose such a guarantee?
Thanks Ryan. The agent I'm using mentioned that under SEZ category, you must buy a property direct from the developer versus on secondary market. Is that a correct interpretation as per what you have seen in the MOTAC documents?
yes have to buy direct from developer. I forgot to mention that in my video
Clearest video Iâve seen so far on this new MM2H, tyvm
Glad it was helpful!
every 6 months change pattern, and you are supporting the malaysian govt on this mm2h for property buying in malaysia? totally absurb!
help retirees lower cost of living I think its not a bad idea
@@AlphaMarketingSG with the current rental market in Malaysia I am not convinced property ownership will be financially beneficial for any foreigner.
@@AlphaMarketingSG you mean to fool retirees to part ways from their retirement savings in which the mm2h is designed for. buy ringit, and Malaysia real estates and park money in Malaysia banks are sure ways to loose money over time.
@@FrancoisT the idea is to live in the property that you buy. Most golden visa programs want you to spend money in the country, by committing you to the property purchase, then you will commit more time to Malaysia
Thanks Ryan - I don't dispute that the visa programs want to drive inflow of funds, but driving real estate is not the way to go. We are in a very different and flexible world and even in my home country it is a very old style of thinking that Property Ownership show financial commitment. Our family would love to spend more time in Malaysia (and potentially other countries), but have the flexibility to move around. In this flexible way I will spend more money in the country. Asking me to commit to Property Ownership will chase me away. I see myself as a younger generation of retirees (early retiree) and the view and landscape looks different and I do not believe I am alone.
Its still NOT clear IF this is even the final version or requirements... The requirement to buy a property well above the value of what a local can typically afford (maybe up to 500k) will be a BIG turnoff to non-Singaporeans, former Malaysians, non-PRCs, etc as there is virtually no market for high-end properties...
this version already appears on Ministry of Tourism website and already sent to all existing MM2H agents
Hi Ryan, to clarify, my purchase of the condo property in Puteri Harbour is from developer. Thank you for your assistance.
Yes but we are not sure at this stage how much back-dating can be done on your property purchase.
Hi Ryan,
This is Michael.
Wish to clarify on the requirement of Property Ownership - if I already owned an existing residential property in the SEZ category prior to the latest MM2H requirement, do I still need to buy another separate residential property to qualify for said category of the latest MM2H requirements? TQ.
Iâm in the same situation too. Hope someone can clarify this.
not clarified in the current document. This one probably need to wait the ministry to advise.
@@AlphaMarketingSGthank God i have yet to buy
@@AlphaMarketingSG yeah..malaysia boleh
Thanks for the summary. One of the better and concise one I've watched. Can I assume FD is for the whole Visa duration? Meaning we won't need to top up more RM due to weakening currency say after 1 year.
I saw in other summaries that the agent fee of RM40k/RM55k/RM70k indicates the max amount that agent can charge......so they may still charge lower than that due to supply and demand.
The agent fee whether its fixed or a maximum, the agents themselves are asking for confirmation from the ministry. Yes the FD amount is fixed for the entire visa duration.
Thank you Ryan for the video! Very informative although still lack of info from Msia govt. With the current requirements esp so ex agent fee, I don't intend to apply for MM2H (unless they change rules again) but on social visa in/out JB and SG. Looking out to rent a condo now near CIQ for my commuting to SG to work (once or twice a week). I'm Sngaporean btw and plan to try out living in JB with the 1 year rental and see how it goes.
yes do try out the lifestyle first. Big decisions can make later if you enjoy living there
Thanks Ryan. The platinum, gold, and silver tier does it specify that the house must be bought from developers or secondary market also eligible?
must be from a developer
@@AlphaMarketingSG thanks again Ryan!
For these high deposits there is a big risk as the PIDM only covers RM 250,000 so I wonder if ok that you make multiple deposits across different banks I wonder if ok that one makes multiple deposits across different banks to make up the sum but in doing so assuring that deposits have a government guaranteed insurance cover?
maybe
For the SEZ visa, I would assume that the property to be purchased must be in the SEZ for this to make sense. Since there is no limitation with regards to property value, does that mean that as long as you buy completed units from the developers, you don't have to worry about the 1million ringgit Johor state requirement?
as long as the developer is allowed to sell that property to a foreigner, you can buy it to meet this requirement. The property does not need to be a completed one. The document doesnt specify that it has to be a completed property, only that it is bought from a developer. The RM1mil requirement may or may not apply depending on the project
Excellent update. Many thanks. How about those who are already in Mm2H and will need to renew in a few years. Do they follow these new requirements or the conditions they originally signed up.
unclear at this stage, need to ask your agent see if they know
Does SEZ include JBCC or only Medini and Forest City? 90 days can be fulfilled by any applicant or can be fulfilled by the total number of days of all applicants combined? Must property be residential title or can be mixed/commercial development or SOHO?
90 days must be fulfilled by an applicant in the age range. Not combined of all applicants. SEZ should include all of Iskandar proper but this announcement should only be formally made later in October at the G2G meeting then. Property must be for residential usage. Im fairly sure that serviced apartments on commercial title will be ok
Ok so I presume this means JB City Centre (near Woodlands) is not within SEZ/SFZ right? Only Iskandar area near Tuas is within SEZ/SFZ for now
First, thanks for the video. Second, I wonder just who the government has in mind for these visas? Most retirees will not want to buy a property, the number of those who would like to buy is small. Why is applying through an agent required? Why can't I do it myself? Malaysia's economy is not quite in a shambles but it's getting there, so who will find a RM1 million FD AND a RM2 million property to be a good idea? And let's face it, if you ever wanted to sell a RM2 million property WHO would you sell it to? The market in Malaysia for a property worth that much is almost non-existent.
Any golden visa program would want the applicants to commit to the country in one way or the other. Otherwise you might as well just use a tourist visa
For these high deposits there is a big risk as the PIDM only covers RM 250,000 so I wonder if ok that you make multiple deposits across different banks to make up the sum but in doing so assuring that your deposits have a over guaranteed insurance cover?
maybe
Usually multiple TDs are done to get around that... No Malaysian bank has yet gone bankrupt (although there have been close calls as I think CIMB was formed out of multiple troubled banks)...
Sooo glad I was smart enough to apply before Covid!!!! I bought a place anyway....
there will be more coming with this new MM2H
Any idea how long from application to approval?
Basically shall we start now or wait till October? Targeting January move
The MM2H agents should be able to start taking applications in the next few months. Im not sure how long the approval process will take. In previous iterations, it still takes a few months all in.
very good ryan. i am gabriel and hope to see you in jb soon. this is exciting news everyone looking forward to this.
Hi Gabriel. See you
The SEZ requirements are almost identical to the pre-2020 MM2H programme. Forest City will boom perhaps especially for Singaporean retirees. It's not a bad deal all considering
There is still a lot of confusion about the requirement (?) to buy property under the other categories. Some readers say it's discretionary except that if you want to use your FD money those are the terms of your purchase.
Obviously needs clarification
Mandatory to buy one now and buy from a developer. And must hold it during the duration of your visa.
@@AlphaMarketingSG Yes for SEZ property purchase is mandatory
The other categories are unclear. Many others are reading it as stated level of FD "OR" stated level of property purchase for that category.
Anyway should become clear in the next week or so.
@@TS-pq8km Im reading it as mandatory even for the Platinum, Gold, Silver
Great update. MM2H agent fee is high but "reasonable" at 40K if it goes through.
Ya at this stage its not 100% clear if this is a maximum charge or not. Because there is another point that mentions cannot deviate.
Is leisure farm part of The special zone. Thanks again for a great video.
I am 90% sure yes. Part of the Special Economic Zone. But details of where SEZ is will only be formally announced in Sept/ Oct at the next G2G meeting
I think the SEZ category only applies to d Johor iskandar region. If it applies to other economic zones in Malaysia, then all foreigners would go for d SEZ category. There is no need to set up the platinum, gold, and silver categories.
Yes we understand JB to cover the SEZ
Think about what you just said: Would you purchase a RM2 million property in the northern zone? And yes, there is more than one SEZ in Malaysia. Who would you be able to sell it to in the future?
Biggest point being tax exemption for foreign income/ remittance. I'd sign on the dotted line immediately, if that were true and given to me in writing.
it is in writing, but feel free to verify this again when you speak to the MM2H agent
Agreed. Then they'll change it in a few years. MM2H is a clown show imho.
@@user-qx8wv2zi1x actually golden visa programs are modified all the time, including Singapore's. Go check out the Singapore version
@@AlphaMarketingSG until 2026 it applies to everyone. Will the tax authority agree that my MM2H is different to everyone after that? I think, it's just likely just marketing that they mention it in the documents
@@AlphaMarketingSG Fair enough. But benevolent authorities grandfather in the incumbents. That's how they gain respect and confidence.
For the SEZ requirements of property, if I already have bought a new property from developer some years ago, is that consider eligible?
not clear at this point, pending clarification
Another question Ryan, if purchase of prior Johor property is allowed for SEZ MM2H application, do we fulfil 32k USD FD requirement for age 50 and above or are we allow to fulfil half of the quantum in FD with property purchased already? Can it be in Sing dollar FD of a USD equivalent amount quantum or must it be in USD FD only?
The FD will be in MYR (based on the USD equivalent). Whether you can backdate previous use of funds for property purchase to meet FD requirement is not clarified at this stage.
Thanks Ryan, very helpful. Do you have information for on the fees of a visa renewal after 5 years? As for the silver category, they issue the visa for only 5 years but we cannot sell our property for 10 years, does not make sense to me.
I get your point about the silver 5 vs property 10 years. I guess if you renew the visa for another 5 years, you have to maintain ownership of the property. Fees for renewal are very minor, only RM1-3k. You can a renewal for 5 years
@@AlphaMarketingSG Thank you, Ryan!
Just to clarify - dependants (children) can be above 21 as long as not married? Or not married AND not working?
What if one already has a Johor property?
not married OR not working. If you have an existing property in Malaysia, not sure if that requirement will be exempted.
My understanding is that the agent fee is maximum agent allow to charge
Ya at this stage its not 100% clear if this is a maximum charge or not. Because there is another point that mentions cannot deviate.
From what I have found online Kuala Lumpur has RM 1 million minimum real estate purchase price for foreigner. Silver visa says RM 600,000. If I get Silver MM2H which can I buy in KL? 600k? Or must it still be RM 1 million?
If you intend to stay in KL then it will be RM1mil. Not all states use RM1mil. Melaka for example is RM500,000
Very Crafty. I definitely not going to buy their property. Also 50% cant get back even 20 years later. Is like giving money away.
Why would you think you can't get back after 20 years?
I should type for 10 years. By then, they will rise the bar, and our money will get stuck there probably forever. In the last few years, they changed at least 3 versions of MMH2. Each time, the requirements get higher. If you observe, the requirements are almost like Western Golden Visa - Buy a new house. What if interested retirees can't afford, must they be forced to take new loan. Also, specifically, I need to buy brand New, so in future to can't sell easily as buyer only go for new one. Sorry, i personally feel that it is a scam.
@@christyhilton1919 the SEZ version is quite low bar for entry though. Sure I understand the bar going up, but I think that's mainly to account for housing prices and inflation over time. Most retirement visas have some similar requirement range. The country is not going to let foreign retirees come in for free.
Of course, retirees do not come in for free. They equally boost the economy by renting. That's what my friends in Europe do. No pressure to buy something they might not need to. These countries give wider choices to different categories of people. I love Msia, and malaysian are lovely and helpful people, but i need to reconsider as I'm fearful about this government. They flip.
Thanks Ryan for the update. Quick questions, am I right to say that the "real" difference between SEZ & Silver category is in the location of the property (apart from other application requirements)? Also, do u know if the applicant has to stay in Malaysia for the duration of the application process? I am asking this coz I know for certain countries, u have to surrender ur passport for application. Thanks.
Yes the SEZ very obviously refers to Johor (though this has not been fully announced) . Previously no need to surrender passport. They just need to certify it is a true copy which the MM2H agent will do
Finally MM2H Come out ð
Yay!
Those are extortion fees! Does it require you to do business with the agents?
Must apply MM2H with registered agents
the surprise of 40 thousand ringgit as agent fees will be hard to swallow.. this high fees can put off many applicants...can be a reason for the mm2h program to be unattractive...
@@cheesongtan6621 pending clarification if this is a hard mandatory amount or not
if the agent chooses to impose a 40k ringgit agency fees, he will likely lose the goodwill n the competition.
Similar visa services in many countries are nominal or something, zero, like France, Spain.
I think if a agent charges around 15 k ringgit, it will still be acceptable..
especially for Singaporeans, who may have more alternatives.
If i take up the SEZ Option, do you think i can purchase a condo in JB at the R n F princess cove?
@@cheesongtan6621 i doubt the fees can be "nominal" in other countries, really? SEZ should cover JB city center including Princess Cove
I have a question, for SEZ they only say you can buy any property in Malaysia. So that means we donât have to stay in SEZ?
The property has to be in the SEZ. And you must buy from a property developer
Hi Ryan, still not v clear about purchasing property for SEZ. Let's say SEZ is equal to Johor Bahru and minimum property value for foreigner to buy is 1 million. Then does it means we have to purchase a property of minimum 1 million for SEZ?
Yes
SEZ includes Iskandar region.... like Leisure Farm and Ledang Heights?
Or?
Thanks
Our understanding is that it is SEZ = Iskandar, but this has not been formally announced yet until the G2G meeting later in October
Hi Ryan, can I ask if I have already purchased a condo at puteri harbor, SPA signed on 14 Jun 2024, will this qualify the home ownership already? Another question is if we enter Johor daily or every two to three days, and stamped on our passport, is every entry considered a day in Malaysia? We need to work and run errands too in Singapore.
Every entry is considered 1 day whether you actually spent the night in Johor or not. Whether you can use an earlier purchase to meet the requirement of applying MM2H in the future is yet to be clarified
Thanks for this compilation. Think there will be a few takers on the Platinium and Gold category. As for the SEZ, currently its only applicable to Forest City.
SEZ is bigger than just Forest City. Forest City will be a SFZ. Though more details on where is SEZ should only be out later this year
Good question! I was wondering the same. Don't fancy living in FC
â@@AlphaMarketingSG SEZ includes Iskandar region like Leisure Farm and Ledang Heights?
Or?
Thanks
Thanks for this update.
"Obliged to purchase residential property": does it mean you have to stay in it and not allowed to rent elsewhere? Can u rent out this property or then it is a forbidden business/investment?
If special zone type: do u need to stay there or is it just concerning the location of the property?
It didnt state that you need to stay in the residential property. Ya so seems like you can rent it out and stay elsewhere. Document didnt indicate you must stay in it. Coz there may also be scenarios you buy a new launch which you cant occupy yet.
SEZ should be Sarawak and Sabah only. This is our SS government requirement as we have the autonomy
Not sure if include Sabah & Sarawak, but quite clear SEZ and SFZ are Johor related right now
Maybe someday they will create a program for retirees, because this is not possible for most.
which part is not possible?
Awesome information! Once approved, would you might know how soon do you need to purchase the property?
Not specified in the document right now. But logically they should give a timeframe
For silver category, can I buy a property between rm600k to rm700k in PJ or Bandar Sunway like a small condo?
but in Selangor, foreigners have to buy property at least RM1million. If you go to Melaka for example, then the minimum price is RM500,000 for foreigners
The state limits still apply, so even though the minimum purchase price in Melaka for foreigners is RM500,000 an MM2h platinum applicant would still have to buy property in Melaka worth RM2 million. Think of the MM2H minimum as a "whichever is higher" kind of thing.
For the silver application and if we already have a property in Penang, does it count as the criteria of purchasing a property?
not clear at this point, pending clarification
If your property in Penang is 600K+ then you should be ok ! Subject to conformation.
SEZ only apply to certain zones within JB?
It should refer to the entire Iskandar Malaysia area in general including Johor Bahru, though details on where the SEZ is exactly should only be out later this year at the October meeting
for the SEZ catogory, are you sure the property to purchase doen't need to be in SEZ zone?
it needs to be in the SEZ zone
How about those who already bought properties in Medini and Iskandar area in the past? Do they still need to buy a new property to qualify for the new MM2H visas?
Pending clarification on this from ministry.
The SFZ MM2H refers to forest city. Not sure what areas the SEZ MM2H will cover though. Any idea?
pretty much all of JB. The Iskandar Malaysia definition
@@AlphaMarketingSG I see. Do you know if the SEZ come with the same MM2H privileges
@@Samlowkiapeng1888 my video covers the MM2H privileges for MM2H category
Hope the area around rts is also sez area, lots of condo over there
yes SEZ should include JB city center
Any time frame to purchase property once visa is approved?
not mentioned specifically in the document. I guess there will be a timeframe given
Property can be rented ? The house which needs to be bought ?
they are silent about that so i guess is yes
May i know if visa renewal under any of these 4 categories will be just paying a small renewal fee or hv to subject to renewal at any new policies? & renewal is it definitely successful?
Renewal normally they will do the health checks again and also security checks i.e. did you commit any crime in Malaysia during the initial period. Also to make sure you still own property in Malaysia (based on the current requirements). The renewal fees are quite small, I saw it was like RM1-3k.
@@AlphaMarketingSGwhat medical conditions will exclude a person from being eligible for renewal? Considering this is generally aimed at older folks, medical conditions will be common.
@@Draconian8 im not sure exactly. This one need to speak to the MM2H agent from their past experiences.
For the fixed deposit: It seems you can earn interest on it. Can you take the interest and use it? Any resources on what average interest rate the fixed deposit pays (I am sure it varies by bank)?
Yes the interest on the FD you can have it paid to a separate account and use it. You can go check out bank FD rates in Malaysia right now. Should be about 3%
Can my sibling (single) also fall under the category of "children above 21 to 34 if not working or married", for the mm2h application? As mentioned in your common requirements slide.
I dont think so. Sibling not specifically mentioned
What happen if applicants already got a house in jb. So the 50% withdrawal will stocks there ? If that case, can I use that 50% to upgrade my existing house ?
pending clarification from ministry
Hi Ryan, im looking to sell my condo in JB, able to reach out for a discussion?
sure, reach out to me at 81261626, Ill see what I can do
Do you have a link to the government official information on the new MM2H ... ?
it is on Ministry of Tourism website. Documents are in Malay though
How about current Jb property owners? Need buy another ðĪĢðĪĢ
not clear at this point, pending clarification
Thank you for the video! very informative. few questions though, can I still bring my domestic helper with silver tier? and if I want to buy sez property in JB, I need to buy property that is at least 1mil RM? Thank you!
Silver or the SEZ tier doesnt include domestic helper. You have to get another domestic helper or ask a helper agency in Malaysia to transfer over. JB property has many price ranges that you can buy. In Medini below RM1mil is possible, but most foreigners will buy property that are at least RM1mil in my experience
@@AlphaMarketingSG Thank you for your reply. So your are saying if I use the helper agency in Malaysia they can transfer my helper over to Malaysia, is it right? and so there is no minimum purchase price requirement for SEZ property?
@@AlphaMarketingSG since you are based in Singapore(I am also in Singapore), agent fee will be the same as the agents in Malaysia?
@@irisbang1905 yes agency can help with helper transfer. SEZ the price requirement follows whatever you are allowed to buy in the SEZ. In Medini there is no price restriction, in other places you can buy from developer for under RM1million but in many cases it will be RM1mil or higher
please share all excel thanks
Watch my videos tq
Can 2 friends share buy 1 property And apply for special zone visa?
Haha good question. I don't know
for someone that can afford the $1mil USD locked in a foreign bank that's controlled by a country that is 63% Islam. this person is likely in the top 1% club. at the moment, Malaysia is a 1% club wanna be. they don't seems to understand the risks one must take to relocate to Malaysia. whereas a 90 days stay is more than sufficient as there are many other places to visit or spend retirement years other than Malaysia. this is with a view of the current global economy where investment of anything, especially real estate carries tremendous risks. only a fool would invest heavily in a foreign country especially on a type of assets where the gov can manipulate its prices, taxes, fees,,, etc. real estate is NEVER truely owned as it is always taxed, and once owned, it will be a nightmare to get rid of it. it is ALWAYS better to rent - the true wealthy would understand this concept.
Haha, dont worry. You are not the target customer base for MM2H then. There are people who will apply, I can assure you. My mailbox is already overwhelmingly full in just 2 days. People's situations differ from one another. What is palate-able for you may not be palate-able for someone else.
@@AlphaMarketingSG i think that's bs. you are implying overwhelmingly interest for the platinum scheme?? and that people are lining up to spare millions of $ to park in Malaysia's bank and buy Malaysia's overpriced real estate!? stop the madness of fooling people! facts and statistic matters! no one in the right mind would want to throw money into the ringit, that is losing in value daily, same is true for Malaysia's real estate as there are overwhelming level of supply, and the ever changing gov mm2h policy. oh, btw, I am not worry, I am only pointing out the obvious falses in the mm2h marketing campaign. your inbox don't mean anything constructive against the number of risks I pointed out.
@@chion918 i already have emails asking to apply for Platinum scheme, you can choose to believe it or not
If as you say 90 days stay is more than sufficient, then you clearly don't need the MM2H. Just visit on a tourist visa and you can pop in an out without commitments, don't be a fool. Only those who would like to invest (time and money) in a country like Malaysia will find MM2H appealing and there are clearly people who do. ALWAYS better to rent? I wouldnât know coz I'm not truly wealthy. Then again, if I were truly wealthy, USD1m would be pittance and I wouldn't sweat it.
SEZ mmsh who can they take with them ?
I believe I clarified that in the video? Please watch again
With regards to the minimum residency requirement, "Can be fulfilled by any participant aged 25 to 49", what if the applicant/participants are in their 50's or 60's?
then no need to fulfil the minimum residency requirement
So even if i (>50y) don't come to Malaysia 1 day/year, the visa will stay valid?
@@carstensanonym7527 yes, based on the current wording. Though I suspect if you dont visit Malaysia at all or very minimally during your validity period, you likely will not get a renewal if you try to renew
@@AlphaMarketingSG Thanks! The exact conditions (for not getting the renewal) should then be known beforehand
@@AlphaMarketingSG Hi Ryan, appreciate all the info you have shared and for answering all the questions here (even the rants!). Just wanted to clarify if the residency requirements for those aged 50+ is also 90 days per year? I am 50+ but still working full time in Singapore and wish to buy a new property in Johor. The residency requirement is the only issue stopping me from applying. If I get the MM2H and have to spend 90days/yr before the new house is ready, I have to rent or stay in hotels for 90 days every year. If there is no residency requirement for those aged 50+, then I would be keen to apply as soon as applications open.
Foreign maid only for platinum cat.
@@Jeff-sm8of yes
I wonder why they want all the old and not so wealthy families to fill their SEZ? Aiyo.
What do you do to stay there? Take train to work in Singapore?
MM2H is a retirement visa
@@AlphaMarketingSG No it isn't...not anymore.
So that's how they sell that dead city.
i guess its one way to solve the problem
Johor minimum how much purchase house
depends on where you buy. Can be as low as RM300k for a studio in Medini to above RM1mil for most landed properties
Will it be an exodus of Singaporeans to JB?
Mostly for retirees. Its a good win win for everyone actually if you think about it
Not a word on the former MM2H that still under it... ðĒ
you can apply for renewal but likely under new requirements
Not so sure...
@@AlphaMarketingSG Extensions should be under the rules of the initial agreement. Anything else is a rug-pull, period. Sure, you can change the goal posts halfway into the game, but don't be surprised if you end up with single digit takers.
@@paradiseislands6926 im not sure governments think like that haha. Golden visas like MM2H have their rules changed all the time, even in the European countries
USD 1mil deposit in US currency or MYR?
Should be MYR currency
@AlphaMarketing Oh, I see. So, the indication of USD is purely for conversion purposes, but in actual fact the FT is a Malaysian-denominated currency and not USD-denominated currency.
There's a lot of Foreign Exchange risk associated to holding Malaysian currency
@@user-es5jk8sz9r yes
FD for 1yr? Or forever?
For the duration of your visa
So what if the SEZ tier has the lowest requirements?
The cost you have to fork out to buy a house far exceeds previous MM2H requirements,
That single requirement alone simply makes the entire MM2H program pointless and non-feasible to many & I noticed how you conveniently chose to avoid elaborating on this fact.
Most golden visa programs require you to buy a property like those in Europe or the Middle East. MM2H has been one of the odd ones out so far until now. You can go buy a studio in Medini for RM300,000 if you want to minimize your cash outlay for this
Most countries won't grant you a long term visa for nothing. The applicant does not work in the country and does not contribute tax, only contribution is in how much the applicant spends, which is no different from a tourist. If one does not need a long term visa, just enter as a tourist. If one wants to live in the country longer, then the host country would like the applicant to put up a stake and grow some roots. One should not expect the host country to allow long term stay without any commitments. You have to put up the FD and buy the property but it still belongs to you. So the only real cost is the fees.
@@alvins.2428 An FD equivalent of USD deposited into a steadily depreciating currency account is a financial mistake, and "roots" is the last thing Malaysia wants to offer foreigners. Look at what happened to MM2H holders who happened to be outside Malaysia when the covid border lockdowns occured. The new MM2H program is an effort to bail out some big shot Malaysian investors in failing property developments. The property overhang, especially those of high value, is caused by too many of these types of property. Local Malaysians cannot afford them, so MM2H is the government's solution.
not worth it, it is scam-like
TQ for your watching
Then you should move along and don't be scammed. There are many others who view it as a God send.
This is criminal, making people hold properties for 10yrs. If a Malaysian person buys a property in Australia they are not forced to hold onto a property for 10yrs. This is blackmail. Who wants to keep their retirement money in a Malaysian bank for the whole time you live there earning 3% interest rates. They are using foreign people to capitalize their banks, as bank need to hold certain amount reserves, and they are using foreign people to prop up their over developed property market. The way the Malaysian government changes the rules every six months it doesn't give you a warm and fuzzy feeling to invest your money there. They can easily change the rules around and say you can't take your money out of the country. Always go where you and your money is treated well.
thank you for the feedback
So after paying a few 100K USD in FD and forcing them to buy property that have to be held for 10 years (as if i can not change my mind)
And furthermore, not let my children and their partners to come with me its the most blatant scam ever lol.
Another failed MM2H policy.
your children if they are married is considered a separate household