Malaysia's Controversial New MM2H REVEALED
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- Опубликовано: 1 июл 2024
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In today's video, we dive deep into the latest updates on the Malaysia My Second Home (MM2H) program, one of the most popular investment immigration programs in Asia. Discover the new requirements, program tiers, and what they mean for potential applicants.
00:00 Start
1:01 Overview of Malaysia My Second Home (MM2H) Program
2:03 New Requirements and Programs
3:03 Special Economic Zones (SEZ) Program
7:08 Silver Program Requirements
11:07 Gold Program Requirements
15:31 Platinum Program Requirements
17:18 Value of having a Base, Home and Assets in Malaysia
19:38 Are New Requirements More Aggressive?
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I love Malaysia but the fact they keep changing the MM2H rules every six months and different departments (tourism, immigration) can't seem to agree upon a program, and basically eliminated the entire visa option for retirees, is enough to keep me away. I'm 63 and that's too old to lock up my savings in a Malaysian bank with low interest rates and buy property I can't sell for 10 years, and then risk being kicked out sometime in the future when they change the rules again.
you can try Sabah or Sarawak.. both are beautiful and even less cost of living
Exactly.
It would be nice to get a clear program.
great points.. I too enjoy Malaysia, however the property purchase is a deal-breaker for me.
@@nomadcapitalistas a Malaysian myself I too am amazed by how indecisive the gov is till to date 😂
Malaysia has long been one of my favorite countries from afar, but the government’s constant need for changing the immigration laws will keep me away. I don’t trust governments that keep changing laws every six months.
good u hav a brain!
Indecisive Govt depts didn't really inspire confidence.
They also banned MM2H visa holders from returning during Covid. Many MM2H holders seem to have thought that they had some sort of PR but they don't: its really just a long-term tourist visa.
Spot on.
Hopefully anwar ibrahim and the current govt stays in power and win the next election so that the indeciveness is removed
I really want to retire to Malaysia with my wife, but we didn't want to purchase a home until we knew the region that we wanted to stay, and now they are forcing the issue. They don't even list a time frame to purchase the property. It also takes time to find, negotiate, fund, and close on a home. If there is a requirement, then are we not legally allowed to stay in country after the 90 days?
They are changing things far too often and it's intimidating. There is so much room for error here. I can't tell you how much this saddens me, Malaysia looked perfect for us.
This is the result of 4 prime ministers in 3 years. The Americans successfuly regime change Malaysia
Possibly you can 'test the water' for 90 days first
@@namazlur78 If America can influence regime changes in Malaysia, would you rather be in Malaysia or America?
Mm2h in Sarawak
@@wfj5291 yup. So simple. Mm2h is to enrich the house developers with huge unsold stock. So what is the point if no one buy houses? Right? Just be normal tourists. Beside dont sell your house back home as how are you going home if you are not dead in 10 years? In 10 years yr malaysian home will appreciate and you make tidy fortune. But food price will increase..so locals suffer especially b40
THIS deserves a video... from your newsletter/Weekly Rundown regarding Caribbean CBI: QUOTE: "The government (St. Kitts & Nevis) said that the CIDD Unit (Continuing International Due Diligence Unit) will be headquartered in Europe and will be responsible for conducting continuing due diligence on economic citizens worldwide." “It will ensure that citizens holding passports issued by St Kitts and Nevis and residing and working internationally, abide by the laws of the countries in which they reside and visit, and that they respect the international laws as well." So much for these smaller countries not following you around... ok, they aren't specifically doing it....guess the globalist world government disguised as the EU will be dong it for them! Yikes!!
Last time when they steepened the condition of MM2H, the number of applicants decreased by 10 fold. Now they wanted to increase the applicants to previous level, but the conditions got even worse. Anybody can tell what the outcome will look like.
Malaysia is NO COUNTRY FOR OLD MEN!
Sarawak recipients went from under 100 a year to nearly 1800 a year. They never suspended their program. Even taking applications and processing some during Covid -though the process did slow down.Unllke the MM2H it's run exclusively by the Sarawak state government, thus you'll need a Sarawakian agent or sponsor. It's a more easygoing life in Sarawak, with fewer ethnic tensions, and nature abounding. Loads of natural parks, wildlife, and diverse culture. English is widely spoken. Crime is low. Food choices diverse. Many modern hospitals and specialty clinics.
Downsides: Processing of the visa may be 6 months to just over a year, and could get worse because of potential increased demand.
Sarawak is an 1.5 hour air connection to Singapore and 1 .45 hrs to Kuala Lumpur where international connections are made. That may change with the establishment of the Indonesian capital in Nusantara in Southeast Borneo.
3] While Sarawak has a lot of festivals and local concerts and events (Rainforest World Music Festival, Siniawan Country Music festival, Waterfront and MIRI Jazz festivals) big name performers tend to bypass Sarawak for Singapore and KL.
only controversial if your intention is citizenship. But if you intend to retire and enjoy a different lifestyle for 10 years thats good enough. MM2H is not for poor people selling their homes to die in Malaysia. They mustbe rich enough have two homes and go back before they die or 10 years which ever is eaelier. Look at Dubai now homes to laundersrs and criminals.
This is something to keep in mind. Thank you
That's one way to resolve the property overhang in Malaysia but I'm not sure how many people want to keep property for 10 years not knowing how the future real estate market will perform.
real estate is an asset, if you dont need the money just buy and keep it or rent it, the same to gold
Ohh Asia is largely stable but if you want a get rich quick casino, well you got to be at the casino😊 That's typical West / Merika mentality by pumping up the property markets
It doesn't make any sense to have $300,000 invested in a country that is slowly turning against the West. Many Expats are now leaving Malaysia due to the political and religious changes happening in the country.
exactly ... I would rather invest in gold than investing in that malaysian real estate ...10 years is such a long run
@@ssuwandi3240 Mm2h is to enrich the house developers, mostly greedy chinese, with huge unsold stock. But demand for rice, eggs etc will increase..so locals suffer especially b40
I love Malaysia!!! 🇲🇾🇲🇾🇲🇾🇲🇾🫶🏻
Haha so funny. You mentioned the smells in the metro reminds me of my holiday long ago in NYC. Thanks for promoting my hometown Kuala Lumpur & my beloved country Malaysia 🇲🇾
A hidden gem in South East Asia. If not many ppl coming to live here, it's ok.
We're so blessed to live in Malaysia.
Yep. Malaysia truly Asia
I pause and repeat twice to make sure that what he referring to was KL or NY Metro ?
Finally MM2H Final Version Come Out 🎉Nice Explanation
Encouraging potential buyers of your services.
New Zealand is a very nice place
Great video Andrew!
With regards to the Egyptian CBI program . there is currently a civil war in neighbouring Sudan. To many Sudanese I bet that Egyptian passport looks pretty good right now
If you cannot spend 90 out of 365 days in a year, (25%) why are you applying to reside in a foreign country in the first place? It shows you are not commited to move out of your origin country..🤷🏻
This nomadic lifestyle is depressing. Erratic human mobility
@@ssuwandi3240 Each to their own. What's depressing for one may be energising for others.
@@JohnHarthomstowCEO gov must look after citizens first. If it suits some foreigners thats fine.
@@ssuwandi3240 I enjoy the life. It's better for me then what I was doing in Los Angeles for 40 years. But to each their own.
@@damienyuen7718 of course who would have blamed you. I despise the city lifestyle. Not worth the 5 years let alone 40. When I was a student in Europe the world was very different. Including the mobility. Not manic phobia😊
Thank you sir for you timely, thorough and succinct presentaitons!
Good info Andrew
Thanks for watching! 😊
Thank you Andrew
In 2013 I got my first MM2H visa valid for 10 years. FD was 150 KM$ and a minimum income of 10 KM$ per month. After 10 years the renewal MM2H was down to 5 years, the other condition remain the same. I have stayed in Malaysia the all time and spent my income in Malaysia.
Now if the new conditions on my next renewal, apply to me with my ''old'' MM2H visa, I will not be able to stay for sure.
Sorry to hear this, the countries who do not give citizenship just want your money and limited benefit to you.
We renewed on the old terms.
@@allykhan8594 Malaysian Citizenship is reserved for hereditary Malaysians and to foreign- born who had contributed and being patriotic to the country. NOT anybody with money🫡🫡🫡
@@allykhan8594 Well I consider myself and my family as welcome guests, nothing else. Asking for citizenship is another matter. I understand perfectly well the Malaysian government not giving so easily citizenship to foreigners like it has been done in Europe, with the problems it created.
@@user-pt8cx8hg3i The best option i see is not to go there and give them monry in the 1st place. I have visited as a tourist.
I am a Malaysian who lives in KL. If another city as safe, developed and inexpensive offered me what Malaysia is offering, I would seriously consider it if I wanted another base. The 90 plus days stay a year is the downside if you don't want Kuala Lumpur as base. Otherwise, I think the programs offered look great if you seriously want to relocate. I love KL. 🙂👍🏻
It dont look great to china man looking for citizenships
Madness when you know what’s coming down the track with regards to digitalIDs, jab passports, etc and the fact you can stay 90 days visa free. What am I missing??
the wise words of LKY spoken in this famous speech concerning bring fund into or investing into Malaysia, quote: “This is an economic field of co-operation in which, you must remember, we are putting investments on Malaysian soil,” Lee said. “And at the stroke of a pen they can take it over”
lee's dead
Yeah Mahathir is not dead but properties and businesses of investors have been seized many times, whenever he gets moody.
Nicely done, Andrew.
Are Malaysian banks safe?? LOL. Are US banks safe? That's the question.
No banks are safe anywhere in the world now that CBDC is coming worldwide.
Yeah, Malaysia used to have 32 local banks, but the government directive reduces it to only 5 local "bigger" banks.
Great video Andrew 😉👊🇬🇧🇪🇦🍷
I think the SEZ option mainly relates to an attempt to bail out the enormous white elephant US$ 100 Billion Forest City development in Johore Baru. This is designed mainly for Chinese investors but where the Chinese developer, Country Garden, is enormously over-extended, is almost bankrupt and the take-up of what has been completed is meagre. From videos, it looks largely empty, bleak and uncared for and the few residents seem to want to leave, but can't find buyers.
I might have considered the SEZ option ( not in JB though ) but the FD on top of the property requirement is too much of my capital tied up in assets in a depreciating currency and where the government seems to suddenly u-turn regularly on the terms of the MM2H visa. The comments of some Malaysian politicians that MM2H visa holders are likely to be foreign spies or debauched drunkards doesn't help either.
I like Malaysia for the same reasons as you do Andrew, but this latest version of the much-changed and tinkered-with MM2H isn't attractive to me. I already have citizenship of a Caribbean nation and I think I will look closer to home where I can get PR without the opportunity cost, restrictions and uncertainty of Malaysia.
Right. . Mm2h is to enrich the house developers, (chinese) with huge unsold stock. But these will increase demand for rice, chicken, eggs etc. The locals suffer especially lower income. House prices is unnaturally high beyond young people affordability.
This new thing about requiring MM2H applicants to buy a properly is borderline crazy.
The worst part is that you need to keep it a minimum of 10 years. Ridiculous.
Thank you for the latest update on the MM2H. Excellent content for those who are seriously interested to live, retire in Malaysia.
I just think that the Malaysian policy makers, when it comes to the requirements to qualify for a MM2H status, don't realize how unattractive the current MM2H, there are so many other more lucrative places elsewhere in this world. When it comes to creating a conducive environment for MM2H, the Malaysian policy makers should engage with more professional consultancy, perhaps with the Nomad Capitalist.
@@Yasin_Affandi but not die. We are not international cemetary.
But not die here. We are not international graves. Only controversial if your intention is citizenship. But if you intend to retire and enjoy a different lifestyle for 10 years thats good enough. MM2H is not for poor people selling their homes to die in Malaysia. They must be rich enough to have two homes and go back before they die or 10 years which ever is earlier. Look at Dubai now homes to laundersrs and criminals.
4:07
Iskandar Malaysia is a nice place to live; it’s just a short drive into Singapore
🎉
I have a lot of questions if anyone here can answer...
1: What is the timelime requirement for purchasing the property?
Since you can withdraw half of your investment after 1 year and it can be used to purchase property, does that mean you have more than 1 year to buy the property? I cant wrap my head around buying property without living there first and seeing which neighborhood you want to live in.
2: If you withdrew half of your investment in the gold tier, then go to renew it again 15 years later. Do you need to top-up your bank deposit?
3: If you renew your visa when it expires, do you need to purchase more property again?
4: How does household help work in Malaysia? If i want to hire a permanent maid, driver, chef, and assistant, how would I go about doing that?
Great video. Is Penang part of the SEZ?
Penang.......no way, have you seen what the Chinese have done to property prices there?
Can 1/2 of the FD be used for buying the required residential property? So, first pay FD, then get MM2H and _then_ take 1/2 FD to use for buying property?
Interested in all you have to say.
I guess the ability to take 50% of the FD out (after a year) to buy property is to upgrade the first property you bought in order to get the original MM2H or buy a second property?
Good morning 🎉
Buying a depreciating real asset 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.
Have a look at Sarawak. They have different requirements.
Well you can buy a house in KL/Penang/JB and rent it out if you dont want to stay in KL and stay somewhere else if you want to. RM600k is about a 1000 square feet condo or a landed terace house.
Malaysia has a track record of flip-flop policies, so for expat do prepare for back ups. PR is almost impossible unless you're a Muslim.
Overall the govt pretty much leave you alone, they are too busy with their own politics and corruption. I'd recommend buying condos in KL >RM 3mil so that you get a cleaner community, and your neighbours don't leave scratches on the walls of the lifts etc.
Landed homes >RM 2mil gives you decent neighbourhood esp. if near starbucks and foreign banks.
Condos have security whereas freehold homes you have to arrange for your own security guards. Home breakins are pretty common.
Obviously outside of Selangor can be cheaper
Think I’ll be looking at Sarawak too.
Good riddance. Sarawak pr not recognised by Malay Federation
Tiries, stop trolling. You don't understand the Sarawak MM2H. The S-MM2H NEVER offered the recipient a pathway to PR or citizenship. It allows those on it the right to enter and travel through Malaysia -and Sarawak- for the period of the visa (10 years with opportunity to renew). One can also, IF ONE WISHES, purchase residential properties in Sarawak.
But it doesn't offer a PR or Citizenship...both are hard to get, even for those from West Malaysia. Maybe that's why you are so upset?
I see there is some confusion about the 10 year period with regards to the purchased property. It says you will lose the MM2H validity if the property is disposed and not replaced or upgraded within 10 years. In another word, if you have decided to say good bye to the MM2H and do not need them anymore, you can just dispose your property at any time ! So please don't lose sleep about the 10 years thing, it is not as serious as you have thought.
What happen if the old retirees die witthin 10 years? The children must be deported as they have no incomee.
Can you help answer a question please. Can you open a business on the silver visa option?
No. Only the Platinum level allows employment or establishing a business or partnership. The official announcement states that if you want to work or establish a business you must apply for an employment or business visa.
As far as old retirees. The interestingly added a clause that after the death of the Principal the visa (and presumably the property and fixed Deposit) would be passed on to the named heir which can be the spouse or other dependent.
Previously the visa terminated with the death of the principal leaving the widow/widower or children "naked". This was actually WRITTEN policy. This new policy is a vast improvement and more kind and humane. It provides the heir with time to deal with the estate, legal issues, and for the children to continue with their schooling.
Of course, at renewal the heir/recipient may have to decide upon staying or leaving, selling the property and withdrawing the fixed Deposit.
With the special economic zone what is the minimum property price and do you have to live in that location or can you live in KL?
So you put 150k as deposit PLUS have to buy property for silver one? Is this correct or can you go down the deposit or property way?
The Special Economic Zone option in Johor Bahru looks attractive, not only for the low financial requirement, but for the fact that it's on the Singapore border. With cost of living in S'Pore being what it is, some locals are relocating across the water to JB for its lower cost of living. If you own a property in JB then decide to sell after a decade, to me selling shouldn't be too difficult or time consuming due to demand from adjacent S'Pore residents.
except there's a massive oversupply of condos and failed development projects. no different than china's ghost cities. see: forest city.
Me and my family been working in the malaysian government job for 3 generation. When i read this policy... Let me tell you cumulative(meaning days in a year) more than or equal to 90 days is actually for each person and not combination of 2 or more person.. let see if my guess is correct...
Correct!
You are right.
Yes please talk about the President's speech. Thanks
Andrew , thanks for the MM2H update as accurate as possible from your reliable source. Would you know how to go about for some people like us being the 2nd round of MM2h which would be due in few years. The next renewals would have to Apply again as per new rules ?
Its not an international cemetery plan for sure.
Very interested in your feedback on prime minister speech.
I also heard they just joined the brics nations.
It is unfortunate but understandable! Most of European countries have stopped or been winding down their golden visa programs; Singapore also raised its bar drastically.
Europe will stop House Immigration in 2025! Dubai has become playgorund of criminals with its migration programs. Money are laundered in Dubai housings.
Gold sounds good, but 90 days. I was there 60 days last year over 2 trips. This year, for 30 days so far. May go back again. But 90 days may be difficult. It may be OK if you own a home there or are older?
The enormous difference between general qualification and the SEZ qualification has turned this into an interesting property play. Who will jump first. If I was wanting to live in Penang I'd buy a cheap SEZ unit, rent in Penang and if I could rent out the SEZ unit. Would I win... who knows but it's the lowest risk
Its suppose to be a simple honest scheme for rich old people to retire.
Yeah I heard about this change in the newspaper - the fourth scheme change since the pandemic.
Quite disappointing if I am being honest, especially with the property purchase option.
Only benefit to corrupt chinese developers..More bad then good.
This just limits people who want a third or maybe fourth home to spend part or none of the year there. It doesn't make sense because it is usually richer people who look for these types of programs without the physical presence requirements.
The 90-day physical presence requirement is too much without the chance to obtain citizenship.
Countries are pushing their luck due to high demand. Go too far and the demand will disappear.
This trend makes me believe they are trying to lock people in for some reason.
Malaysia is officially off my list.
Does anyone know if for the SEZ option, does one need to necessarily purchase the property in Johor Iskandar? And does it need to be a new property from a developer only?
YES
With Malaysia joining BRICS+ it’s probably a wise idea to wait and see how that shakes out.
Considering the hostility of China toward western countries (in particular the U.S.) it’s possible that block of countries could make reciprocal programs that cut out those from non- BRICS countries and Malaysian laws related to immigration may change again…
Valid point. Sanction will likely push the CCPmore brazenly aggressive sooner or later. Good luck for the Saudi
Not possible, brics is not like Nato.
@@namazlur78 it has nothing to do with military alliances. BRICS++ is an economic cooperation group that could very well offer more favorable immigration terms to BRICS members than those outside the group …
I dislike NATO but China and India wouldn't look like an upgraded dynamic.
@@ssuwandi3240 NATO is simply a defensive U.S./ European military alliance that protected EU countries from Soviet occupation after WWII… don’t believe all the propaganda about NATO.. and yess a world dominated by China will look VERY different as China doesn’t have the natural resources that the U.S. does so they need to exploit them from developing countries … a multi-polar world is a better option with neither China or the U.S. dominating
Kudos for Malaysia for keeping their rules strong
otherwise it would devolve into another thailand or philippines. even these new mm2h requirements are too low. can't imagine these newcomers adding much value to the country.
Right now there are plenty of seafront properties with private beach access available
Because there actually are toilets in the train stations in Malaysia! 😆 .....in addition to regular cleaning of the stations.
From the Nomad Capitalist eMail that I just received: "Applicants must reside in Malaysia for at least 60 days per year." So is the residence requirement 60 or 90 days ?
property investment has no profit in it. the depreciation of the Ringgit over a decade writes off whatever profit there is.
Please do a video on Malaysian politics in contrast to the west. So please comment on the latest president conference.
it's forever changing!
We had 4 PM in 5 years.
Far from desiable. If you stayed in MY, better stay away from politics.
@@MrMilanoLau this interesting. Do you feel corruption?
@@MrMilanoLau messy. PH , PN plus sabah and sarawak
"The President of Malaysia said Malaysia first." I wonder if he also said "Make Malaysia great again?" That would be interesting!
There is no such thing as president in bolehland!
Malaysia is not a republic. HENCE no president😂😂
😅
Correction : Prime Minister
Malaysia is a fantastic place to go for beach vacations and to binge on shopping and food. Unfortunately their "prata" politics and policies are a nightmare for any serious investor. If you enjoy the excitement and unpredictability of prata flips then by all means, proceed! 🥞
Just visited there last month and I feel like I have left something there ……❤❤❤
I read somewhere that you're excluded from being able to do business or invest in Malaysia on all but the Platinum. That seems strange but I could imagine it would be a deal breaker some.
Its a country for rich old people to retire.
SE Asia may go through 1997 scenario again too much debt
Does anyone have further information on the minimum property purchase price for each local jurisdiction please? It seems likely you could purchase a very cheap property, and rent something far nicer in KL for example.
In my understanding, MM2H override all the minimimum property price in all states. The lowest tier minimum property prices is RM600,000
@@humanity2914 thank you!
Our economy is struggling with uncertainties, housing issues, foreclosures, global fluctuations, and the pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.
They are going to join BRICS!!
Did anyone hear about 50plus program for MM2H? Do they follow the 3 categories Silver /Gold/Platinum if they don’t want to live in the SEZ? Are the requirements the same? Or…
Have you looked at Labuan for tax free offshore holdings?
What if I already own a property in Malaysia? Would my current property (purchased 12 years ago, before applying for new MM2H and valued above threshold) satisfy the condition of obligatory purchasing? Thanks for your advice
Many retirees complain they vaht buy property in Thailand/Philipipne so the MM2H provide optioon for those whod like to buy property to settle down.
Cheapest is S-MM2H, Over 50s put Myr 150k per person in Bank, just stay 2 weeks in Sarawak, after that stay🎉 anywhere in Malaysia. Smarter not Harder 😊
Dont they check? Plus u have to buy a house in sarawak no?
@@alex-lu8mi
If I read the web site correctly, I don't think so for >50 YO.
Just search Sarawak MM2H.
@@alex-lu8mi sarawak are not smart. The premier is only O level..He thinks foreigners want to stay in sarawak looking at jungles after they got pr. Hehe..
It's actually now a one month/year stay or visit requirement...up from two weeks. But compared to the three month minimum imposed by these Tiered MM2H programs it is minimal. It can be done in "bites" and either the principal or spouse can contribute "days" to fulfill the requirement.
I think the check at the 5 year midpoint of the visa period. Sarawak has an immigration process where the check for visas, and stamp or electronically input comings and goings. So they would be able to retrieve info about how long you have stayed per year.
The Premier of Sarawak "not smart" ??? The Sarawak Mm2H program has got from about 100 recipients/year in the 2019's to more than 2000 issued visas last year. MM2H LOST 2000 visa holders last year! And the number of new visas issued dropped from 5000/year pre-Covid to an average of about 25/year when the established their "High Earning Investor" version of MM2H. Over a 90% drop in new applications WHEN they were even accepting them. Sarawak never had a suspension of their program, even during Covid shutdowns. If you were in Sarawak or could get there they'd accept your application.
So saying that Sarawakians and their Premier are stupid? Hat is more a reflection of YOUR ignorance.
Buy property in Johor Bahru, Penang or Kuala Lumpur. Rent it out to worker or company. You will get fixed income every month. Especially in Johor Bahru, there are many Singaporean or Malaysian that working in Singapore living there. They can easily afford to rent your property
I wonder who wants something from whom? I see myself as a product and countries may offer for me. Money gets rare, healthy people as well, education on top and while some countries higher the rules, so does my "price". Malaysia is simply not offering enough. Thanks for the info.
Malaysia, especially Penang, is a nice place to visit but I don't think I can live there for a long period of time. I just don't care for the hot and humid weather, sometimes it gets to be unbearable.
Malaysia has really lost a lot of credibility in the last five years or so with sudden shutdowns of the MM2H programme, re-openings on drastically worse terms ( and no refunds of fees for applications already submitted but never looked at , and then sent back to the agents with no explanation ), then another sudden shutdown and now another possible re-opening with a new requirement to buy a property as well as place an FD , which was not there before.
You are right, it doesn't offer enough.
@@davidk1415- Cameron Highlands or Genting Highlands is 6,000' elevation where it's cooler and less humid.
@@miaflyer2376 Cameron Highlands and Genting are nice for a short stay but limited activities offered (I don't gamble) make these two places unconducive for long term stays.
Dubai the playground of launderers and criminals suit you perfectly
Love Malaysia and would totally live in KL. Maybe I'm missing something but the other options for staying in Malaysia aren't so bad compared the M2MH program. For example, maybe you get a digital nomad visa, apparently it only lasts 2 years, for another 3 you just go on a holiday every 3 months to Thailand for a couple of weeks. Cost is a few hundred bucks. In five years you're in the same place as a guy who got the silver program but had to commit a heap of cash to the program. It doesn't seem to add up to me. not complaining about it, just wondering what the main benefit is, and does that justify the size of the investment. The other thing is for a 5 year permission to stay, you have to keep invested in real estate for 10? that kinda doesn't make sense that you need to stay invested for 5 years beyond the period you stay.
Personally I think they'd do well by simplifying it a bit. Invest x in real estate, you can stay, if you sell you can't stay no more.
Nomads are young professionals. Mm2h help chinese developers buy unsold houses.
How does the Philippines compare ?
the only thing that I don't like in this new program of mm2h is you can't the sell the property for 10 years, but if they will reduce it to 5 years then it would be fine. another thing is 90 days is already too long for me, I hope they will remove the minimum stay requirements.
If you can afford then it is no problem. Properties in Malaysia still cheaper than most well developed countries. You can even rent it out to get some income.
Andrew, I owned a condo, sold it in 2013 at the exchange rate of 3 RM per USD. Now it is 4.7 RM so a 57% depreciation in 11 years just form the exchange rate which more than offset the gain in property price.. You stated RM 1 million, try 1.5 million RM for a comfortable condo. What you did not talk about is the property applicant must purchase has to be from developer not from any seller or real estate agent.
Love your videos and great info but you talk less about Colombia nowadays, why? would you move there?
We did recently: ruclips.net/video/2T_LFhCYsDc/видео.htmlsi=vf97xiM-FQQY_hyz
@@nomadcapitalist I meant given WW3 looming around soon. Is it a safe place to go to?
"Go where you're treated best"?...well, that ain't Malaysia anymore.
Ok..best wishes
No way I’m gonna put my money in a bank ever too risky
Only if it’s full reserve bank not fractional reserve bank
I’ll probably stay in Bulgaria it’s nice here or maybe just visit Asia on a tourist visa winter time
El Salvador if I need to look for another home
Does anyone know what happens to ppl with the old mm2h visa😅obtained in 2019 when i try to renew it? Will i be able to get another 10 years of the visa under the original T&C or will those in this new scheme apply instead?
With SILVER you can own a Malaysia house for 10 or more years on the condition that you freeze 150k USD savings in Malay currency for 5 years. As a bonus, if you spend 25% of your time in Malaysia, you'll also maintain a residence permit for up to 5 years. After that you can continue visiting your property with a tourist visa. You are allowed to sell your Malaysia 2nd home only after 10 years, and are then not allowed to buy another one unless you enrol again in some new and possibly inflated variation of the program.
- Not very attractive for a committed expat, as after 5 years you'll anyway be back on tourist visas.
- Not very attractive from an investing point of view either.
- And definitely not attractive for retirees, who want to settle for good, and usually want to use their savings for living as opposed to freezing their money in a MYR bank account, and having to submit applications to the government in order to use 50% of their hard-earned cash savings.
What about their PVIP program?? I don't have the extra capital right now but i am planning to move to Malaysia within the next 2 years .
Malaysia Boleh
Will there be still a program for retired people?
I love Malaysia. The rule on physical presence is my problem.
Indeed.
agree, specially for frequent travelers 90 days was very long.
@@micomarinas2753
I don't understand.
If you travel frequently and cannot make a cumulative total of 90 days annually, why take the MM2H? I would have thought the wiser choice is to obtain a 90-day visa eveytime you enter Malaysia. But do correct me if I misunderstand you.
Its suppose to be a simple honest scheme for rich old people to retire. And leave before they die.
Its suppose to be a simple honest scheme for rich old people to retire.
For 50 yrs old, plz clear my doubt, do I have to buy house and pay 30k deposit? For joho mmh2 program
Quite going and seeking residency till they get their act together
Hi Andrew. A question about the requirement to buy property: are you able to buy land and build a home to your own specification, assuming it meets the overall spend requirement?
NO
You cannot buy land, but you can negotiate with the developer to modify the house to your liking
My plan B future getaway is #1 thailand, #2 malaysia, #3 japan, #4 indonesia, #5 philippines. Need to get away from the western destruction so #3 and #5 may be a risk and I recognize that. Things are changing so rapidly this list is subject to change
thailand is a good looking one as it has Freeholds
I think you can´t plant roots too firm in each country if you really wanna avoid the tyranny. Have enough money to accept possible loses if you need to cut ties quickly.
If you are a multi-millionaire that could work for you, but why would such a person want to be forced to stay 90 days in a country or even pick a country with so much pollution, that risks your health? If you only have $500k to $1.5M it's much to risky to spend so much money on a country that doesn't have 100% stability. Silver is a joke with 5 years of visa and investment locked for 10 years.
Whats your take on Malaysia joining bricks?
Hopefully it's the best giant step of Malaysia joining BRICS 👍
21:28 Except the only downside is unlike in New York, uh the Metro does not smell like a urinal 😂
Are the deposits held in the bank remained in USD?
I doubt it.
MM2H rules change faster than a person with multiple personalities changing personalities.