Shocking MM2H Update: No More Permanent Residency for Platinum Category!
HTML-код
- Опубликовано: 16 сен 2024
- Note: This video was made before those changes were implemented by MOTAC on June 14, 2024. We have covered the latest requirements in our most recent video, which provides updated information. You can check it out here: • New MM2H Guidelines Re... .
Discover the latest updates on the Malaysia My Second Home (MM2H) program! In a major announcement, the MM2H program no longer offers a pathway to permanent residence. Additionally, agents with expired licenses must reapply under the new regulations. This video covers all the essential details you need to know about these significant changes and how they might impact current and future participants. Stay tuned as we break down the new rules and provide insights into navigating these updated requirements for a smooth MM2H experience.
Whether you’re an agent or a prospective participant, these changes are critical to understand.
Share your thoughts in the comments below or suggest topics you'd like us to cover in future videos!
For more, visit: officialmm2h.com/
If you have any personal questions or need assistance with the Malaysia My Second Home (MM2H) program, please don't hesitate to contact us. We're here to help! Email us directly at sarah@officialmm2h.com, and we'll be happy to provide the guidance and support you need.
00:00:10 Introduction to MM2H Programme Update
00:01:24 Details of the New MM2H Programme Categories
00:04:10 Impact on Agents and Participants
00:05:30 Conclusion
----------------------------------------------------------------------------------------------
Click Here To Subscribe To NEVER Miss An Upload
👉 bit.ly/officia... 👈
About:
Welcome to Official MM2H Resources. My mission is to share my knowledge and experience to make your MM2H journey as smooth as possible. Because I know how overwhelming the process can seem at first glance. There’s paperwork, regulations, and a whole lot of planning involved. But fear not! Your dream of a second home in Malaysia is closer than you think. I’m here to guide you through it, share the lessons I’ve learned, and celebrate your successes. If you’ve got questions, need advice, or just want to share your MM2H journey, I’m all ears. For more info you can visit this website: officialmm2h.c...
Disclaimer:
Please note that not all video footage showcased in this video is specifically from Malaysia. The visuals have been selectively chosen from various stock footage sources to best complement and synchronize with the script and the information being presented. The primary objective of this video is to provide viewers with comprehensive and informative content regarding the Malaysia My Second Home (MM2H) program. We strive to ensure that the visual representation aids in enhancing the viewer's understanding of MM2H, without implying that all scenes are directly taken from Malaysian locales.
#mm2h #malaysiamm2hprogram #mm2halternative #malaysiamm2hupdate #mm2hvisa #mm2hretirement #mm2h2024 #visatomalaysia
This video was made before those changes were implemented by MOTAC on June 14, 2024. We have covered the latest requirements in our most recent video, which provides updated information. You can check it out here: ruclips.net/video/eLsYBAvZvwk/видео.htmlsi=3oh0-iqfBU6lVNBI or you can read here, i have translated Malay version document into English: officialmm2h.com/revised-mm2h-guidelines/
They are closing the doors to all except wealthy fools who would invest so much and still not get a permanent residency. For those prices, they should be handing out citizenship.
Thank you for sharing your perspective. The Malaysia My Second Home (MM2H) program indeed has stringent financial requirements, which can seem prohibitive to many. It's structured to attract a certain level of investment into the country without offering permanent residency or citizenship, which is a point of contention for some potential applicants. The decision to apply for such programs often involves weighing the benefits against the personal and financial commitments required. It's important for each individual to assess whether the lifestyle and opportunities in Malaysia align with their expectations and investment capabilities. Your point about the cost relative to the benefits provided, like citizenship, is a valid concern that many share.
I saw a translation from the Malay language - MOTAC document.
It is compulsory to purchase and own a house. The value of the house that can be purchased varies based on the category of the participant, with minimum values ranging from at least RM600,000 to RM2 million. Applicants need to hold the property for 10 years. PLUS the official documentation also states "Must reside in Malaysia for at least 90 cumulative days per year."
Interesting. Any idea if one purchases a house of this value, whether the fixed deposit then becomes unnecessary? Or are both needed. 😮
@@FrozenSkyy both FD and house purchase required... according to the MOTAC document. BUT... as always things could change.
@@tinglestingles thank you. Appreciate the feedback.
Note that all these rules apply only to new applicants. Those who already applied are "saved". I already said to some foreign friends, apply fast 6 months ago. But, oh well.
@@leealex24 We are in the system in Sarawak and hopefully we'll hear about our approval around the new year.
If i hv 1m usd, i am not interested to work or do business in malaysia. I want to retire.
With an investment of USD 1 million into a fixed deposit, you qualify for the Platinum category of the MM2H program, according to the latest guidelines effective from June 14, 2024. Importantly, while this category doesn't require you to work or run a business in Malaysia, it does entitle you to do so if you choose. This flexibility makes it an excellent option for those looking to retire comfortably while still having the option to engage in business or employment activities if desired. The MM2H pass in this tier is valid for 20 years, providing a long-term and stable basis for your retirement in Malaysia. Let me know if there's anything else you'd like to know!
Buying a depreciating real property while locking up your capital in Ringgit creates a twofold financial disadvantage. This scenario significantly inflates the actual cost of the visa beyond its apparent price tag.
Thank you for sharing this perspective. You've highlighted an important consideration for potential MM2H participants regarding the investment in real property and the impact of currency fluctuations. It’s true that buying property can tie up capital and expose investors to market risks, including depreciation and currency devaluation. For those looking into the MM2H program, it’s crucial to weigh these factors carefully and consider how they align with your long-term financial goals. Consulting with financial and real estate experts can provide deeper insights and help manage these risks effectively. Your point adds a valuable dimension to understanding the full implications of such an investment.
Dreams shattered !!!
I'm really sorry to hear that! Remember, sometimes a setback can lead to different opportunities. Hang in there!
Note that all these rules apply only to new applicants. Those who already applied are "saved". I already said to some foreign friends, apply fast 6 months ago. But, oh well.
Absolutely, you've highlighted an important point-these new requirements indeed apply only to new applicants of the MM2H program. Those who applied before the changes were implemented are subject to the terms that were in place at the time of their application.
PR is good, so we will loose to Thailand ,
Confirm
It's a great point you raise about the competitiveness of residency programs in Southeast Asia, particularly between Malaysia and Thailand. Each country offers unique benefits and has its own appeal depending on what potential residents are looking for. While Thailand may offer certain advantages, Malaysia's MM2H program still attracts many due to its own set of benefits, like the long visa duration and the relatively lower cost of living. Deciding where to apply often comes down to personal preferences and priorities. It’s always worth comparing the specific features of each program to see which aligns best with your needs and lifestyle goals.
Is the FD denominated in dollars or ringgit?
I heard dollar in local bank. So that it cannot affect currency fluctuation. I am malaysian.
This video was made before those changes were implemented by MOTAC on June 14, 2024. We have covered the latest requirements in our most recent video, which provides updated information. You can check it out here: ruclips.net/video/kM8hTD3IMqY/видео.htmlsi=bIee63Mu9zX-nP65 or you can read here, i have translated Malay version document into English: officialmm2h.com/revised-mm2h-guidelines/
The fixed deposits required for each tier of the Malaysia My Second Home (MM2H) program (revision June 14, 2024) are denominated in US dollars. Here's a breakdown of the fixed deposit requirements for each category:
Platinum Category: A fixed deposit of USD 1 million is required.
Gold Category: A fixed deposit of USD 500,000 is required.
Silver Category: A fixed deposit of USD 150,000 is required.
Special Financial Zones:
For applicants aged 21 to 49 years, a fixed deposit of USD 65,000 is required.
For applicants aged 50 and above, a fixed deposit of USD 32,000 is required.
These fixed deposits are held in licensed financial institutions under the Financial Services Act 2013 or the Islamic Financial Services Act 2013. They reflect the latest updates to the program, aimed at making Malaysia an attractive destination for potential residents from various financial backgrounds.
Thanks for the detailed info on MM2H. However you had not stated on whether participant still need to show a monthly income or not. Is this still a requirement or it has been permanently removed?
For now, new regulations for the Malaysia My Second Home (MM2H) program have been approved by the Cabinet, with full details to be officially announced soon, according to Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing.
A friend sent me a translated document and the income requirement has been eliminated for all 3 tiers. The fixed deposit and house purchase requirements was listed in US dollars and was different than what was disclosed months ago and what is in this video. I’m still waiting to see info from agent sites and possibly news outlets to have the actual info.
@@waynerm002 how accurate is the document? seems very unlightly that the govt will let someone live in malaysia without any income.
@@loongsiew4612 According to the document, once approved for MM2H, the purchase of a home is required. The limits for financial deposits, according to the translated documents are:
i. Platinum - USD$1M, Gold - USD$500,000, Silver - USD$150,000.
ii. Offshore income requirements for all categories
aborted.
iii. Maximum withdrawal of 50%
allowed on the principal value of the FD after getting approval to join
MM2H program, for purchase purposes home, education, health and activities tourism in Malaysia.
i. Required to purchase and own
house after getting approval
participate in the MM2H Program.
i. Limit the value of the house that can be purchased by
participants at least RM2 million or
to the top for Platinum, Gold - RM$2M to the top, Silver - RM$600 thousand
or up.
iii. Not allowed to resell
home for 10 years. However
allowed to upgrade the house
(buying a new house) to the value of the house
which is higher than the house which
owned.
iv. If the participant does not comply with the conditions-
this condition, then the participant's MM2H pass can cancelled.
This is a translated document, from what I heard, not sure from where. However, with the requirement for the higher fixed deposit limits, the requirement to purchase a home with a limitation of not being able to sell for 10 years, they want to make sure those that can meet those requirements will apply. Oh and it also states the required time in Malaysia is 90 days, not the 60 that was advertised back in December 2023. Here is the link to the Tourism site, the page is in Malay and will need to be translated:
www.motac.gov.my/en/media/release/garis-panduan-pelesenan-mm2h-dan-syarat-syarat-kelayakan-peserta-mm2h-2024
@@loongsiew4612 Interesting. Looks like my reply with the details was removed.
Look at the bright side, why would anyone wants a PR in malaysia right? It is hot and humid year round.
Malaysia PRship are reserved for illegal migrants from Indon, southern Philippines, Banglas and Rohingyas 😂
Indeed, Malaysia's tropical climate means it is warm and humid throughout the year, which can definitely be a change if you're not used to it! However, many people find the warm weather inviting, especially those coming from colder climates. Plus, Malaysia offers rich cultural experiences, delicious food, beautiful natural landscapes, and is generally considered a cost-effective place to live. Every place has its unique charm and challenges, and for some, the positives of living in Malaysia far outweigh the hot weather!
Thankyou. Also how long is each tier valid for. 1 year? 5 years?
Great question - I was wondering the same. Prior to this MM2H revision, Platinum had the possibility of permanent residency but this video has made it very clear that is no longer the case. In addition, the previous rules meant that the Gold visa option was good for 15 years (with the option to renew for another 15 years) and the Silver visa option was good for 5 years (with the option to renew for another 5 years). This announcement only clarifies that Platinum no longer offers the chance for permanent residency but there's been no mention of the duration (and renewal options) for Gold and Silver. The financial deposit requirements are unchanged but there's no word on minimum monthly income.
malaysia policy flip flops and are often retrospective.
@@OneJuanWon Thanks for your comment and attention to detail. You're right about the changes to the MM2H program. As per the latest revision dated June 14, 2024, the Platinum category no longer provides an opportunity for permanent residency. Regarding the duration and renewal for the Gold and Silver visa categories, the updated terms are as follows: The Gold visa is valid for 15 years and can be renewed, and the Silver visa is now valid for 5 years with the option to renew for another 5 years. Concerning financial requirements, there have indeed been some adjustments. While the deposit amounts remain the same, the requirement for a minimum monthly income has been removed from all categories, which could significantly impact applicants’ financial planning. I hope this clears up some of your queries!
This video was made before those changes were implemented by MOTAC on June 14, 2024. We have covered the latest requirements in our most recent video, which provides updated information. You can check it out here: ruclips.net/video/kM8hTD3IMqY/видео.htmlsi=bIee63Mu9zX-nP65
Thank you for your question! According to the latest updates from the MM2H program as of June 14, 2024, the validity of the passes for each category varies. The Gold visa is valid for 15 years and can be renewed, while the Silver visa is valid for 5 years with the option for a similar renewal. If you are referring to the Platinum category, the pass issued under this tier is valid for 20 years. These long validity periods are part of the program's appeal, providing a relatively stable long-term stay option in Malaysia. Let me know if you need more details!
@@BullRun-g9s That’s a valid point and a concern for many, especially for those looking to make long-term plans based on such policies. It's true that policies, including those for the MM2H program, can evolve, sometimes with significant changes that might feel retrospective.
Why would anyone want to live in a country where u can go to jail for wearing a rainbow watch
It’s crucial to acknowledge the diverse legal and cultural landscapes across countries, and indeed, Malaysia has laws that may not align with the views on LGBTQ+ rights found in many other countries. If you're considering relocation, it's important to fully understand the legal and social environment of any potential destination. It’s a personal decision that should be made with consideration of all aspects of personal freedom and safety.
105,000 USD way to much if you want to retire there .. not sure what they where thinking ? where is the Bronze plan for people over 60 :)
Bronze plan??? Sorry no such thing.
105US is still far lower than before.
@@loongsiew4612 Paying $5 for a roti canai (when it was previously $15) still doesn't mean that $5/piece is reasonable.
@@kynelighnI know there is not a bronze plan. But it seems they left it open for them to add an option
@@loongsiew4612it's still too high compared to the SMM2H plan of 31k what with the low cost of the RM you could loose money when it's sitting in the bank :)
Fire whoever selected the choppy text animations for this video. Painful on the eyes to watch. Plus, you didn’t give the housing requirements for Silver nor provide many other details recently released.
It's just AI - no humans involved. No one can be fired!
This video was made before those changes were implemented by MOTAC on June 14, 2024. We have covered the latest requirements in our most recent video, which provides updated information. You can check it out here: ruclips.net/video/kM8hTD3IMqY/видео.htmlsi=bIee63Mu9zX-nP65 or you can read here, i have translated Malay version document into English: officialmm2h.com/revised-mm2h-guidelines/
Thank you for your feedback, and I apologize for the inconvenience caused by the text animations in the video. We aim for clarity and accessibility in our content, and your comment is a valuable part of improving future videos. Regarding the housing and other details for the MM2H program, especially for the Silver category: Participants in the Silver tier are required to purchase and own a house with a minimum value of RM600,000. This property must not be resold for a minimum of 10 years, although upgrading to a higher value property is permitted within that period.
Why would I want to live in a country where I go to jail for being gay
No gays have gone to jail in Malaysia for being gay. On the same note, don't come.
It’s crucial to acknowledge the diverse legal and cultural landscapes across countries, and indeed, Malaysia has laws that may not align with the views on LGBTQ+ rights found in many other countries. If you're considering relocation, it's important to fully understand the legal and social environment of any potential destination. It’s a personal decision that should be made with consideration of all aspects of personal freedom and safety.