I'm from the US and lived in most of the capital cities in Asia, namely Bangkok, Phuket, Jakarta, Ho Chin Minh City, Manila, Vientiane and Singapore among others. I'll have to say Kuala Lumpur is the easiest place for someone from the US to migrate to, cause it's advanced, modern and superior to most cities in neighbouring countries. Most importantly, public transportation like subways and bus networks are superb. Cities are clean and efficient.
Been to all. I agree Malaysia is ok. But Vietnam better. Maybe not hcm, weather issues, but a beach city or northern like ha long bay will beat it out.
@@kimberiysmarketstrategy It depends on what you a looking for. If you are looking at historical cities with Dutch, Portuguese and English influences and heritage, it would be Melaka and Penang in Malaysia. If you want ancient Asian vibes and old culture with sea and surf, it's surely Bali and Lombok in Indonesia. If you want beautiful beaches, fantastic lakes and hills, Danang in Vietnam and Phuket in Thailand. For modern cities, there is only one contender that is modern and yet extremely affordable, and that's Kuala Lumpur in Malaysia.
@@kimberiysmarketstrategy depends what you value... nature Laos. Friendly people and nature and food Vietnam. Malaysia is so multicultural it is like California. Thailand if party or jungle life. Singapore, hong kong attractions and shop. S korea, safety good infrastructure and weather.
Just got my MM2H renewed in July . Bought a Rm2 million condo 3 years ago and life is excellent! Andrew sometimes I disagree with you regarding Malaysia but this time you nailed it thanks!
I can invest and to obtain PR which I am interested in, but I won't be able to stay every year a min. of 60 days in the country... is that really a hard maintenance requirement, would you know?
@@jiayus4448 I think this PR angle is going to be a lot more complex than stated. The best is to contact your agent as they would have a lot more information. As to the 60 day stay your wife or dependent can also count as days stayed . But check with your agent first.
@@jiayus4448it isnt easy for a foreigner to get PR even if you invest. Unless you are married to a Malaysian. Even then it takes 5 years on Dependents' pass
I spent a wonderful month living in Kuala Lumpur in 2023. My room cost me $16 a day with all utilities and WiFi. I will return to that lovely city again this year. I think 90 days this year. I appreciate this video as I need to get my banking set up there.
Your comment doesn’t really make sense to me. You talk about living on $16/day, yet aren’t worried about depositing like $200k in a Malaysian bank savings account. First off that’s not a small sum and second it’s just going to depreciate given the way the ringgit has depreciated over the past 10 years plus it is a low interest rate compared to what you could earn in say an S&P index fund. The other thing is this video talks about how cheap a condo is to buy in a nice downtown area, but if you look at the real estate market, you will find it is very difficult to sell. Almost all the developers hold back a large percentage of the units, so there is a huge over supply.
Was in Malaysia last month scoping out a home away from home. Man, tough choices!!!!! Beautiful quiet, unobstructed sea view condo in a semi remote area or a more busy condo with all the amenities on the ground floor???? Food was killer every single night and the people are so friendly. Don't worry, I'm coming and bringing my ca$h from the States. America is in decline!
@@jacqdanieles Sound advice, but just a condo for own enjoyment in retirement is not a big deal. I am going to keep most of my money in US banks and just transfer what I need to Malaysia when the time comes. You have to live your life too. Can't always be so careful. Before you know it, your life is over and what did you show for it if you didn't enjoy it?
@@vwchan841 yes, what you say is also true. But I'm just raising the point because I was once a little cavalier about currency risk in a developing country & ended up losing north of $50K.
@@jacqdanielesI confirmed that with my HSBC global account I can hold US dollars as such in one of my accounts. Sure, those ringgits that I moved over for mm2h are depreciating as we speak but i would like to use half of it soon for a RE purchase. Its not a lot of money...
@@vwchan841 If you're accustomed to easy city life where you can get everything you need nearby, then a house in KL would be a better choice as living in a semi remote area is kind of meh or worse experience in terms of amenities over here.
I'm a local malaysian and i dislike our government for this. Most of the locals (sadly, not all) are actually very glad and honored to have expats as part of our community🤗🤗
Wasn't the "grandfatering" somewhat forced? I remember expats were told they have to renew MM2H on new terms (with 9k USD monthly income requirement) initially?
Malaysia is a wonderful country with all the attributes you described. But this new program sends the wrong message to retirees. It says "if you are young and affluent, you are welcome. If you are older and don't want to risk your nest egg, this is not the place for you." They should not be misrepresenting MM2H as a retirement program because it no longer is.
I understand your input and argument. Anyway the new mm2h shall be reviewed in one year's time to see the 'failure' or 'success'. No one knows what will be the end result. Perhaps restricting mm2h to above 60, it is not productive to the nation. Being young with money is more beneficial to the economy. My opinion only.
Uhm, I think it is just common sense that if a country wants to bring in retirees from a foreign country. You got to prove that at least you have enough money to support yourself for decades to come. I mean, you don't want to bring in poor retirees that might deplete their savings after a couple of years & then what will happened? The government is going to support u? Dont get me wrong, I wish u all the best but if we are to bring in somebody to our country we at least want someone that could contribute to our economy beyond just consumption.
well yes, you are retiring here, you are retiring as a tourist, the deposit or income limit is just for you to prove that you can sustain yourself and to improve the economy. if you cannot sustain yourself and living frugally here while daily necessities here are subsidized, it kinda missed the point of the program. with the tier system, at least you have options
This program is not for you to retire here, it's for people who actually can contribute to the country. Not failures who can't afford to retire in their own country and had to abuse currency exchange rate to barely retire. What do you as a retiree add to the country? You got to retire here but what do you add that the local can't add?
Malaysian chinese here , yes the goal posts keep moving even for the locals , but the new government hopefully would uphold it words more strongly. They are showing some progress.
Comoared to many western countries, malaysia is doing quite well, sure its not growing at the rate it used to, but far better for foreigners than many european countries
The deposit for MM2H used to be RM150,000 if you were over 50. The Malaysian Gov increased the deposit to RM1m (x7)! Many many retirees from the west who are not wealthy were seriously put off. The MM2H processing fee was free. The Gov then said RM5,000 application fee! The monthly income requirement was formerly to show you had RM10,000 a month in pension or other income. Mal Gov increased it to RM40,000 a month. This shut out most applicants because the sup rich don’t come to retire in Malaysia. It’s mostly middle class middle income families from Europe. Annual fee was RM90 but Mal Gov changed it to RM500. Result = a 98% drop in applications. You can’t trust a country that changes the rules this significantly overnight. Look somewhere else ! Malaysia doesn’t want you. That much is clear.
Newsflash.. Nowhere wants you. They want what you bring. They changed things for a short time for probably many reasons, now they changed again to something that makes sense. Thats all.
This is actually to curb the westerner failure who escape the west because they can't afford to retire there. Malaysia is not a place for you to retire and enjoy life, you're abusing the system if you do that.
I was there 15 years ago for a couple of months for work, I loved KL. I'm surprised at the USD to Rm value though. It was $1USD to about $3Rm when I was there, the USD is worth a lot less today, but the Rm seems to have faded quite a bit. I met several Australian expats while I was there and spent an evening drinking beer, eating shrimp and watching the city walk by in Chinatown adjacent to the city center. I think it was about $5 USD equivalent for me to do that. The retired couple I talked to that evening lived there permanently for several years and loved it. I also remember cats in restaurants, and being told they were welcome there because they earned their keep in taking care of any rodents. But it was pretty common to be sitting down for a meal and having a cat keep me company. They seemed well fed, and just wanted a pat on the head and some stroking. I do miss Malaysia, the people, the food, the cost of living were all very enjoyable. The tolerance of the Malaysian people to all the different cultures and religions was something I never saw before, or since.
what on earth are you talking about. 1 beer is gonna cost you 3-4 USD because of tax. in high end expat areas like the KLCC its more likely 8-10 USD a pint.
This is why I love this channel. It give’s the bigger picture, which I can then adapt to a ‘Lite Version’ for myself. When I worked in SE Asia, I traveled extensively around the region and loved it. So, to get my trifecta, it only made sense to choose a property as my anchor - thanks to good advice. With residence permits in Europe, SE Asia and Africa, I am now watching closely to see what the future holds.
Thank you so much for your kind words! It's amazing to hear about your experiences in SE Asia and how you've been able to create a trifecta with residence permits in different continents.
Sarawak MM2H was there since day 1 just less promotion on this program. Borneo have their own immigration law. If u are on federal mm2h you can’t stay long term in Sarawak but Sarawak MM2h allowed east and West Malaysia without restriction.
I am grandfathered in to mm2h but I have little confidence in the new system. For me I do not like the idea of spending 60 days in Malaysia every year. I think that it is far better to say how many days over 5 years. In addition, I am not sure that the income requirement has been officially removed. Motac still is not responding to questions. I have spent far more days than required. I do not like the change impacting existing mm2h visa holders, but it is still better than the last mm2h. I have the thai LTR visa and that was simple, cheap, and less rigid than mm2h. Thailands concern is taxing global income and still no final say in that area. thanks for your thoughts.
I think you don't have to spend 60 days continuously in Malaysia. You can break it down to 60 days in a year. Example, 5 days in a month. You've to be in Malaysia for 60 days in total for a year.
@@kennyng2289 I agree. I phrased it wrong. A total of 60 days each year, but what if I like to spend a year somewhere else. To do 60 days then I must come back and stay in a hotel or other temporary place and I have pets. It seems like a burden to me. Why not ask money if I do not spend the 60 days in Malaysia. MM2H was supposed to be a second home. I have spent 1800 days but that counts as nothing in the next year.
@@kennyng2289 After reading my initial comment I did phrase it correctly. I did not say continuously, but probably that would be the case instead of coming back and forth to Malaysia just to meet that requirement. It was not well thought out in my opinion. It should have been a certain number of days over 5 years.
@@cber5077 I guess you do not understand. MM2H visa was a 10 year visa and you could decide when you wanted to come and how long you wanted to stay. At that time they made no yearly requirement to stay 60 or 90 day. Many would not have taken the visa under those rules because a regular visa has no stipulations on how long you need to stay each year. When you do not meet the new rule then your visa is cancelled, and you are unlikely to get a new visa. So if you wanted to stay for 2 years in another year, but not this year then you are cancelled. It seems to be a policy not fully consistent with the needs of retirees or with the concept of a visa. Maybe you understand but I doubt it.
You don't mention that the government has announced that foreign income for Malaysian residents will be taxed from 1 Jan 2026. This is causing many people, already in Malaysia, to think about settling elsewhere.
Live in the Philippines on a tourist visa that you can extend indefinitely. Cost is about 30 usd per month. Can extend online for up to 6 months (so no monthly or bi monthly visits to immigration). Must exit the country ounce every 3 years for minimum of one day.
If you get the platinum plan, how long does it take to get a permanent residence? Also, after obtaining the PR, does that negate the 60 day per year requirement total of you and your spouse residing in Malaysia?
Listen guys. Andrew could never be wrong about Malaysia. Now many Singaporeans, mainland Chinese and Indians are moving to Malaysia because half of the deposit money could buy land, landed property and high class condos in Malaysia. These types of properties in Malaysia could never depreciate in value and we Singaporeans love to buy land in Malaysia for durian farming, building private bungalows or factories etc. The longer you wait, the less opportunity you have because tide and time wait for no man. When the demand is met, the supply will disappear. This is the law of economics. (From Singapore)
Happy New Year 2024 to you and your team. Thank you for this video. Wonderful content. It's a crystal clear clarifications for the new MM2H, elaborated excellently.
I brought my money (for my MM2H) in at around 3.8 to USD. It rose to 3.0 at one point and now is at 4.6. But over the years the higher than average interest rate has resulted in deposit being worth more in USD than what I brought in back in 2006. And I see the Ringgit being somewhat stable at 4.7 or so going forward. I do not see a downside risk over the long term.
@@cookmaster3626somewhere around 4-5% per anum If you’re afraid of loosing with the currency rates , you can always convert your money into gold within the banks There are many ways to do…
@@cookmaster3626 Malaysian here , it's 3% at the moment (fix deposit) , it been 2.5% - 3% for pass ten years ? Yes it's low cpmpare to US 5% , but it was still 3% back when US is close to zero%. One strong point is even when US raise rate in fast pace, malaysia fd rate only up twice in small scale like 0.25%. I suppose that is more stable. But there is foreign currency fix deposit available in major local bank which you can bank in with foreign fd rate. Cultural , language or civilization(in major cities) integration is great, but for foreigner government still struggling to integrate it economically.
Malaysia official didn’t say the Silver can be renewable like old MM2H version. It’s said that you need to re-apply for the progress after 5 years. Means new conditions and applications fee need to meet. It seems a one-time visa. Certainly finally explanation still not announced
Original program was superior. During the pandemic, MM2H holders who were out of the country weren’t allowed to return, so can u imagine if you’ve got a flat or house there. U had to wait for months to get back in. Terrible government service also.
meditate: to think on, from Latin “meditat-”, meaning “contemplated”, from the verb “meditari”, from a base, meaning “measure”. In most religious/spiritual traditions, particularly those originating in Bharāta (India), meditation is a mental practice in which one either allows thoughts to appear in the mind (and simply observe those thoughts without judgement) or else one tries to focus all thought upon a single object. That object can be almost anything, yet most commonly is a religious figure (such as God, a demigod, or a spiritual master), a point in one’s visual field (such as a candle flame), a brief prayer (normally referred to as a “mantra”), or else, observing or focusing on one’s own breath (a fundamental part of “vipassanā”, in the Buddhistic tradition [“vipaśyanā”, in Sanskrit]). The main benefit of meditational practices is to free the mind of superfluous thoughts. Some individuals in the so-called “ultra-spiritual” community mistakenly believe that the cause of suffering is any thought whatsoever, and therefore, embark on a fruitless endeavour to eradicate all thoughts from the mind (or at least from the intellect - see Chapter 05). How I wish that every single one of those persons end-up in a coma for the remainder of their lives, since that is the only way that they will possibly achieve their impossible goal. Humorously, even coma patients can experience dream thoughts, so even then, their aim may be thwarted! Fortunately, as demonstrated in Chapter 15 of this “Final Instruction Sheet for Humanity”, the source of suffering is NOT due to thoughts as such, but due to a misunderstanding of how life operates. The cure for such nescience is unerring knowledge. In fact, I would posit that excessive meditational practices, such as that observed by the stereotypical Hindu/Buddhist monk who flees to a mountain cave in order to meditate for about fifteen hours per day, is actually detrimental to one’s spiritual development, because it weakens the intellect. Just as the physical body requires regular exercise, the intellectual dimension of the human person also needs to be exercised via the study of philosophy and yoga, which is especially important for those who profess to be spiritual teachers. Therefore, a healthy balance between contemplative practice, intellectual endeavour, and physical exercise is most beneficial. Possibly the most apposite form of meditation for the overwhelming majority of humans is a kind of ACTIVE meditation, in which one is perpetually contemplating how to best benefit society. Because it is practically impossible for one to fully control one’s thoughts, one should use the hyperactive nature of the intellect to its advantage, by constantly devising methods how to further dharma. This is the principal meditation practice of the current World Teacher Himself, The Saviour of Humanity, Jagadguru Svāmī Vegānanda. Some persons believe that one can learn the “secrets of life” (that is, to fully understand life/existence, and how to live one’s life in accordance with the universal, Divine Will) by sitting in the lotus position and focusing one’s attention on the base (or tip) of one’s nose for several hours per day! Undoubtedly, some have received wise insights during their meditation practice, but to assume that one can replace the accumulated wisdom of the sages over the past twenty thousand years or so, with an introspective path of illumination, is, sad to say, one of the many delusions of pseudo-spirituality. None of the great sages in history were so naturally enlightened as to dispense with a living guru. Even a single day spent at the feet of an actual spiritual master can be more valuable to gaining knowledge and insight into the meaning of life, than an entire lifetime of meditating on one’s navel (figuratively speaking).
I was lucky enough to live in KLCC from 2015-2017. I really enjoyed living in KL and plan to be back soon to retire. Manila is just chaos. Cebu City has appeal but I like MH.
I’m closing in on retirement, and I'd love to move from Minnesota to a warmer climate, but home prices are ridiculous now.. do I look at other assets and wait for housing crash, or go ahead with house purchase anyways?
Very true, people downplay planners role, until burnt by their mistakes. I remember just after my layoff early 2020 amidst covid outbreak, I needed to stay afloat, hence researched for license-fiduciary advisors. Thankfully, I came across someone of practical knowledge, and decades of experience.
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial advisor but it's advisable, you make use of financial advisor.
I have turned over more than half million working with Chris Ryan Stewart on a wide array of options and finally sticking to a few that have been favorable in the past 2 years. I began working with him in October 22 after the Fed lended 300b usd for stimulus to stem crisis, I knew I needed help.
Apply Malaysian citizenship by naturalization: 21 yrs old above, live legally for 10 years(any visa), pass Malay language test(lowest mark 1, highest mark 8, passing mark is 2), in 2023 citizenship application process period is shortened to 14 days (Malaysiakini and various news outlets)
The Malaysian govt is missing a serious opportunity here. They should create a specific visa for retirement with the original mm2h requirement, only for the over 60s, but only last for 3 years, and renewable for RM10,000/pp. What we will get is a bunch of harmless old people with money to spend. The govt basically get free money, and the retirees can spend their dollars in the sun and support local employment. Who does that hurt?
Malaysia has millions of illegals. They build the infrastructure and do most of the real labor in the country. Sadly, some people made the mm2h visa holders scapegoats. Most retired mm2h visa holders will not buy property because it is overpriced, illiquid and there are minimum amounts. The elephant in the room is why do this, but I think we know the real reason.
Maybe ML is not interested in attracting retirees. did not work in Thailand and will not work in ML. Retirement visas In Thailand did not attract retirees with money, it attracted cheap Joes who try to live king's life on 500 USD budget. Just not worth it for the country.
To be honest, I totally disagree. There is no way I would deposit 1 million Ringgit in a Malaysian bank account. First of all, the money could be invested and work for you. If we are conservative and say 5-10% per annum, that's $10,000-$20,000 that you are effectively losing. Who on earth would pay that kind of money for the privilege of staying in Malaysia when 90 days are visa free anyway? Secondly: You are exposing yourself to currency risk. What if the Ringgit nosedives and loses 10% against the USD over the course of a year? That's another 20,000 USD down the drain. Yeah ... no thanks. I would MUCH rather pay for the Thailand Elite Visa. It's quite expensive too, but you don't have to lock your money away in some low-interest bank account.
And what is the dollar depreciates against the Ringit? You think our recent massive US money printing doesn't make this more likely? A big benefit is being able to open a bank account in Malaysia with residence, are you gonna be able to open a Malaysian bank account do that on a tourist visa?
Interests will be given for the RM5 million kept in the bank. Of course, the interests rate will not be 5 - 10%. It will be less. You can take out 50% of the RM5 million for purchase of property, for health care or for children's education.
Property price in Malaysia unlikely to go up and highly possible to go down. Ringgit going down and down. Meaning money in Malaysia bank will be lower in value. Politically unstable. Policy can change anytime. Very good example, Forest City.
So what if sultan of Johor become agong? For so long Johor is good? Flooding at kota tinggi, Johor bahru, kulai. Hope it make a difference and your prediction really come true.
Hmm. Interesting but . . . I am an American retiree in Thailand on the 10 year pensioner LTR visa. I really have only three qualification requirements - age over 50 years old, $80,000/yr passive income (my work pension), and health insurance. No bank deposit requirements. The visa has a one time fee of 50,000฿ (~ $1,400). Multiple entry. One year reporting but not the typical 90 day reporting.
My understanding is that all the details of the program have not been released, including income requirements. Does anyone have anymore information on the complete program?
That is my understanding too. Unless Nomad Capitalist have some insider knowledge the agents do not have, it might be a bit early to assert that there is no income requirement
Until they get fed up and change it all over again. I witnessed how absolutely appalling existing mm2h residents were treated during and after Covid with many forced to sell up and leave because of the ill thought out and damaging requirements of the last mm2h rework. The Malaysian government is unbelievably corrupt now, zero accountability and couldn’t careless for their mm2h residents. I will never go back.
Malaysia : 1.Tax friendly 2.Great weather 3.Nice people 4.Foodie heaven 5.Majority of it population can speak English. 6. Low cost of living & super low public transport cost. 7.Multi-cultural, heritage & religions. 8. Lower crime & homicide rate vs Bkk. 9. Better Air quality vs many major cities in SE Asia... during burning season many digital normad will run to Malaysia. 10. Top 10 diving site in Sepadan Island Borneo.
Malaysia is developed now but Thailand and the Philippines partially.This is why the Philippines and Thailand is a better fit for people in there 20’s because they are still developing.With the new tax laws being implemented in Thailand and the Philippines I’m going to be looking for the cost of living to be going back down in the near future in Thailand and the Philippines.
The Philippines has a population of 115 million people crammed into 300,000 square km (almost twice the population of Thailand in half the space). I wouldn't put it in the same basket.
@@Daniel_RG besides the population they are both developing countries and emerging market economies these type of countries improve better with younger generations so as Africa instead of retirees and high earners.Because most of there population is average earners anyways Thailand and the Philippines has never had a multitude of areas sighing there country that are wealthy or at least millionaires they have always had more poverty.But they finding ways and alternatives of improving there economy but there taking a different approach something unexpected and improving there economy by building a stronger middle class and making it less desirable for high earners and retirees.
Being more developed is due to less calamities, smaller population, revenue from oil and gas is quiet abundant. Downside, it attracts "flies" meaning illegal immigrants from Pakistan, india, nepal, Bangladesh, indonesia, myanmar, vietnam, philippines. Dangerous to our national security. Not to mention refugees from rohinyas. They are involved in crimes.
Are you absolutely sure there isn't any income requirement? Do you have some insider knowledge? Most of the MM2H agents are saying these details are only the preliminary announcement and the full details will tell us what the income requirement is per month. They are still expecting there will be one. Keeping my fingers crossed you are right and the income requirements have been removed.
If you took Silver, withdrew 50% of the 500,000 deposit after a year, would you need to replenish the deposit when it came to renewal after 5 years (since only 250m remains)?
For platinum, when can i withdraw or use the remaining 50% of fixed deposit that is required to be kept in the bank account? Is that stuck forever with the malaysia bank? Will i get it back if i revoke my permanent residency?
To clarify, the revised MM2H scheme isn’t finalised yet, right? There may be further requirements to be added? And, as of now, we can’t apply for the scheme? So this video, whilst informative, isn’t based on the defined MM2H scheme? Thanks!
Sarawak MM2H program is much affordable. Expats are only allowed to stay 30 days in a year and you can reside in any other places in West Malaysia. But applicants not under Sarawak MM2H program are required to get entry pass to enter Sarawak and Sabah. I am an America citizenship holder born in Malaysia. My American husband and I will planning to apply retirement visa retiring in Malaysia.
Expats can ONLY stay 30 days? Or must stay a minimum of 30 days? Those are opposite results. If I have the Sarawak MM2H can I live all year in Sarawak?
This man changed my view about so many stuff in my life. I would live to assist to one of your conference and maybe if I'm lucky shake your hand and take a picture with you. Is that possible. You truly changed my view is the west and have ne confidence to travel and explore. I'm in Thailand right now. ❤❤
Thank you for your kind words and for sharing your journey with us! It's wonderful to hear that our content has had such a positive impact on your life and perspective. We'd be delighted to meet you at our Nomad Capitalist Live Event 2024 in Malaysia. It's a fantastic opportunity to connect with like-minded individuals, gain valuable insights, and explore new possibilities. Looking forward to meeting you there!
Something that nobody is talking about here.I may be wrong ( pls correct me if it s the case) , but Malaisia is on the common law ( anglo saxon legal system) so, i think that people wanted to execute a WILL and dispose FREELY of the way they want to have their money distributed when they die, Malaisia is allowing it. That s a point important for me.I can t do it in EU( i am Belgian, residence in Hungary), i can t do it in the Philippines ( where i was for 10 years), i COULD do it in England, Australia, Usa, Canada, .. but i DON T WANT to live in those countries anymore because of demographics,ethics, and you know..the way it goes there now. Malaisia makes sense for me
Sp potentially.. if I get 5 year permit a some point this year and the program gets cancelled, I'd be out after 5 years. Bu the 15 year program makes a lot of sense if you can spend half the money on property.
How much is it to renew the silver / 5 year visa? Wouldn't that make the most sense to get? If easy to renew? Do you still need $9000/mo income or what is the monthly income requirement for the silver?
"We are still awaiting clarification on the minimum monthly income required to be eligible for the visa, although they may have removed this requirement. The existing program requires proof of income of RM40,000 per month." Do you know if this is true?
great insights.are their policies retrospective? for property purchases, most likely there is high risk since the exit is challenging to find the next buyers as locals cannot afford it.
This is another program that won’t fly. If we compare to other residency programs, the new MM2H is not competitive. If I wish to get residency in Malaysia, I would set up a legal entity in Singapore, which would open a Representative Office in Kuala Lumpur. This Representative Office in Kuala Lumpur, then, would hire me as an employee. Easy peasy, reliable, and way cheaper than the new MM2H.
big tax changes from 2026. but he is saying its a 'tax friendly country?' also no mention of the depreciation of the RINGGIT long term which is a huge risk. i think the audience is forgetting that the 2m needs to be MAINTAINED in the account for 15 years. so its a long term depreciating asset, who wants to do that? i know Andrew loves the country personally but still
currency at play, plus Singapore is small, available land to build a house are scarce. Singaporean even go to Malaysia to buy their second home, go back and forth occasionally to fill their car with fuel and groceries
I don't understand the concept of having x units of currency deposited in a Malaysian Bank, and then being allowed to take y units out. I thought a condition was that a minimum balance be maintained in the bank. Please clarify. Thanks.
Sorry I know this was touched on but to clarify once the deposit is in their account then 50% of that must remain untouched for the period of residency?
Yes, at least 50%. But it is not "their account". You will have a fixed deposit account at your bank of choice, and the account is in your name. The bank is not allowed to give you access to the deposited sum unless you show a letter from the government stating that you have left the MM2H program and that the money is released.
@windmill1965 So if I get this right...if you want to go for the silver tier. You have to deposite the required money and can only take out half of it? After the deposite, you can basically start renting apartments and stuff for 5 years and keep renewing it after 5 years again? But you have to have that amount in the bank right?
@@abusulayman_That's correct. You have to put the full amount in a fixed deposit bank account at a Malaysian bank before you receive your visa stamp in your passport. After you have completed the procedure and have your visa stamp you can withdraw half of that deposit for qualified expenses (e.g. buying a house). For each of these withdrawals do you need a release letter from the government, otherwise the bank will not give you the money. At least half of the deposit must remain in the fixed account for the entire duration of your visa. And yes, the rules say that you can renew your visa once the period is completed (e.g. 5 years in case of the silver tier). So at least half of the deposit is in this fixed account. The bank will pay you yearly interest for this fixed deposit.
@windmill1965 Thank you for your reply. Are their any banks in Malaysia which don't take or give interest because of religious reasons? Like any Islamic banks which we can see in other countries? Also with this visa, can you have a remote job from another country? If I understood correctly you are not allowed to work with this visa.
@@abusulayman_Yes, there are multiple Islamic banks in Malaysia and they can accept your MM2H fixed deposit. Your understanding is correct: the MM2H visa does not include a work permit in Malaysia. Only under some very specific circumstances is a company in Malaysia allowed to offer a part-time job to an MM2H visa holder. You are allowed to have a job outside Malaysia and do that work remotely from inside Malaysia.
All that outlay $$$$$$$$ in a falling currency???? Crap return on the money being mandatory held as a unsecured loan to the bank. Can only access 50% of outlay for medical, tourism or property purchase after 12 months Have to spend minimum $rm600k on property Digital ID being implemented. Crappy property market Good luck if the government changes like the last time. I’ll stick to my 90 days, cost me nothing
Keeping 5,000,000 millions in the account to keep you PR is not real PR. The PR is conditional, because if the deposit goes under 5,000,000 than you lose the PR.
Malaysia is a nice place to live in, but not sure if it is wise to buy properties there? Value of the currency kept dropping relative to the major currencies. This means that if the property prices did not appreciate much, your wealth will go down.... The maintenance of their condominiums are usually not that good to...... Better to just rent if you want to stay there. .. IMO
What if you are “Married” to a Malaysian my wife already has property there and the kids automatically have citizenship because their mom is still a citizen of Penang but a US permit resident.
You are asking the most crucial question. There was no announcement regarding income requirements. There was no announcement whether the income requirement has been abolished. There was no announcement what the new income requirement would be. No announcement at all. That's why many people are saying that you'll have to "wait and see" until the full list of requirements will be published. The only thing that was announced is that there will be three tiers instead of one tier.
Malaysian government is known for its goal post moving and currently their currency basically depreciating so rapidly. Are you ready to convert your $100k usd to banana notes in exchange to living there? It certainly won't hold the same value to the time you deposit that amount in. Weigh your pros and cons before doing so.
If I had over a million dollars, why would I move to Malaysia or any other country?!! That's absurd! It has bad air quality, miserably hot and humid climate which I really hate. I'd stay in my cool and nice area in the NW of US, with clean air!
Healthcare, education, environment, crime rate, no woke nonsense, no need to drive a car for all and nothing, what 1 million $ gets you in MY vs USA, living a a great country vs living in a third world country (USA) disguised as a first world country, the people, the quality of food (real food, not contaminated by 100s of deadly chemicals) etc. I don't see any single reason beside wanting to stay close to family maybe? why anyone with 1 million $ would chose to stay in USA instead of moving to a civilized country like Malaysia, Thailand, Japan, european countries, Mexico etc.
Putting such large amount of money for 10y /15y or more is exposing your capital to currency depreciation. Your 5 millions Rm worths 1 million € today. But in 5 years it will def be lesser. I dont even mention in 10 years or 15 years. Just look at the historical trend of the MYR against USD or EUR for the past 5 years / 10 years / 15 years.
Malaysia Digital Normad Visa. Age :18 Annual income : 24,000 Valid for 12 months. RUclipsr ichang RM & her husband from Japan got this visa and they are now living in Malaysia ❤.
The problem with MM2H is it can change again and again and again… Since the general announcement made by the MOTAC Minister in mid-December 2023 when he was in China for an official visit, there has been no further details and official announcement on this new version of MM2H. I lost all confidence in this program.
This is what keeps me from being too serious about the move to Malaysia, especially if I want to give up my current citizenship. There are no guarantees that the rules won't change and leave me adrift. I will be 65 this year and my income is fixed. It seems a bit of a gamble at a time in life when I would like more of a sure bet.
@@Desizgirl3 The citizenship is notoriously hard to get: "Applications are frequently rejected with no stated reasons and no process exists to appeal these decisions. Out of 4,029 citizenship applications between 2000 and 2009, only 1,806 were successful". In addition, Malaysia does not recognize dual citizenship and, being a Muslim country, rights for men and women are different under the current citizenship law.
@@mayfoo02 Of course it's true: "Malaysia is one of 25 countries that does not give mothers and fathers equal rights under the country’s citizenship law". For example, while Malaysian fathers can confer automatic citizenship on their children born overseas, Malaysian mothers who have a foreign husband are not able to do so.
If you apply for silver MM2H visa, will you become truly a permanent resident after 10 or 15 or 20 years? After renewing visa couple of times. If not, then what's the use of such PR? Its just like as if you're a tenant and as long as you pay your rent, you'll live there. No sense of security, can't vote, can't work in a local company... It doesn't feel like this visa is friendly for people who are in their 30s or 40s who wants to build themselves there with startups and etc.
I'm from the US and lived in most of the capital cities in Asia, namely Bangkok, Phuket, Jakarta, Ho Chin Minh City, Manila, Vientiane and Singapore among others. I'll have to say Kuala Lumpur is the easiest place for someone from the US to migrate to, cause it's advanced, modern and superior to most cities in neighbouring countries. Most importantly, public transportation like subways and bus networks are superb. Cities are clean and efficient.
Been to all. I agree Malaysia is ok. But Vietnam better. Maybe not hcm, weather issues, but a beach city or northern like ha long bay will beat it out.
where , In your oppinion would be the best city to start off & see?
@@kimberiysmarketstrategy It depends on what you a looking for. If you are looking at historical cities with Dutch, Portuguese and English influences and heritage, it would be Melaka and Penang in Malaysia. If you want ancient Asian vibes and old culture with sea and surf, it's surely Bali and Lombok in Indonesia. If you want beautiful beaches, fantastic lakes and hills, Danang in Vietnam and Phuket in Thailand. For modern cities, there is only one contender that is modern and yet extremely affordable, and that's Kuala Lumpur in Malaysia.
@@kimberiysmarketstrategy depends what you value... nature Laos. Friendly people and nature and food Vietnam. Malaysia is so multicultural it is like California.
Thailand if party or jungle life. Singapore, hong kong attractions and shop. S korea, safety good infrastructure and weather.
I really enjoyed my time in KL last year
I’ll be back again this year
A wonderful place to travel to
Just got my MM2H renewed in July . Bought a Rm2 million condo 3 years ago and life is excellent! Andrew sometimes I disagree with you regarding Malaysia but this time you nailed it thanks!
I can invest and to obtain PR which I am interested in, but I won't be able to stay every year a min. of 60 days in the country... is that really a hard maintenance requirement, would you know?
@@jiayus4448 I think this PR angle is going to be a lot more complex than stated. The best is to contact your agent as they would have a lot more information. As to the 60 day stay your wife or dependent can also count as days stayed . But check with your agent first.
you have 5 years of PR there ?
@@fxorigins6624 no PR almost impossible to get PR
@@jiayus4448it isnt easy for a foreigner to get PR even if you invest. Unless you are married to a Malaysian. Even then it takes 5 years on Dependents' pass
I share your love of Malaysia. Thanks for the great update.
I spent a wonderful month living in Kuala Lumpur in 2023. My room cost me $16 a day with all utilities and WiFi.
I will return to that lovely city again this year. I think 90 days this year.
I appreciate this video as I need to get my banking set up there.
Your comment doesn’t really make sense to me. You talk about living on $16/day, yet aren’t worried about depositing like $200k in a Malaysian bank savings account. First off that’s not a small sum and second it’s just going to depreciate given the way the ringgit has depreciated over the past 10 years plus it is a low interest rate compared to what you could earn in say an S&P index fund.
The other thing is this video talks about how cheap a condo is to buy in a nice downtown area, but if you look at the real estate market, you will find it is very difficult to sell. Almost all the developers hold back a large percentage of the units, so there is a huge over supply.
I think he is a Nomad Minimalist like me. We watch this channel to be amused by the problems of the Nomad Capitalists.
This program was for retired people. I don’t think retires earn ten thousand a month.
not exactly sure why he is living on 16 USD a day?
As a Malaysian, ur rental is over priced, u can rent the whole house with that fee.
Was in Malaysia last month scoping out a home away from home. Man, tough choices!!!!! Beautiful quiet, unobstructed sea view condo in a semi remote area or a more busy condo with all the amenities on the ground floor???? Food was killer every single night and the people are so friendly. Don't worry, I'm coming and bringing my ca$h from the States. America is in decline!
Personally, I'd be cautious about converting my US$ to a foreign currency that generally declines.
@@jacqdanieles Sound advice, but just a condo for own enjoyment in retirement is not a big deal. I am going to keep most of my money in US banks and just transfer what I need to Malaysia when the time comes. You have to live your life too. Can't always be so careful. Before you know it, your life is over and what did you show for it if you didn't enjoy it?
@@vwchan841 yes, what you say is also true. But I'm just raising the point because I was once a little cavalier about currency risk in a developing country & ended up losing north of $50K.
@@jacqdanielesI confirmed that with my HSBC global account I can hold US dollars as such in one of my accounts. Sure, those ringgits that I moved over for mm2h are depreciating as we speak but i would like to use half of it soon for a RE purchase. Its not a lot of money...
@@vwchan841 If you're accustomed to easy city life where you can get everything you need nearby, then a house in KL would be a better choice as living in a semi remote area is kind of meh or worse experience in terms of amenities over here.
Just a simple thank you Andrew and team! These videos are invaluable and tremendously appreciated. Thank you!!!
Thank you for your kind words! We appreciate your support!
Do follow Andrew Taylor, an American expat who is currently in his 9th year under MM2H program. His channel name is, "Andrew Taylor".
@@nomadcapitalisthi Andrew, is it true that MM2H malaysia residents will be taxed on foreign income ?
Main problem with the Malaysian government is that they keep changing the rules every few years.
Yes, but look at Thailand, same topic there.
Or look at the Portugal NHR program, basically canceled.
That's a concern for most countries. You just never know when or how things will change.
I'm a local malaysian and i dislike our government for this. Most of the locals (sadly, not all) are actually very glad and honored to have expats as part of our community🤗🤗
Yes every time they change a prime minister ! There’s no consistency in they’re policies - pure madness
I got grandfathered from 2015, one of the best decisions I ever made, wonderful place; building all over the country, great infrastructure.
The problem is not Malaysia, but how the plan was radically changed without real concern for the mm2h visa holders.
Wasn't the "grandfatering" somewhat forced? I remember expats were told they have to renew MM2H on new terms (with 9k USD monthly income requirement) initially?
How much does it
Cost for health insurance?
Malaysia is a wonderful country with all the attributes you described. But this new program sends the wrong message to retirees. It says "if you are young and affluent, you are welcome. If you are older and don't want to risk your nest egg, this is not the place for you." They should not be misrepresenting MM2H as a retirement program because it no longer is.
I understand your input and argument. Anyway the new mm2h shall be reviewed in one year's time to see the 'failure' or 'success'. No one knows what will be the end result.
Perhaps restricting mm2h to above 60, it is not productive to the nation. Being young with money is more beneficial to the economy. My opinion only.
Uhm, I think it is just common sense that if a country wants to bring in retirees from a foreign country. You got to prove that at least you have enough money to support yourself for decades to come. I mean, you don't want to bring in poor retirees that might deplete their savings after a couple of years & then what will happened? The government is going to support u? Dont get me wrong, I wish u all the best but if we are to bring in somebody to our country we at least want someone that could contribute to our economy beyond just consumption.
well yes, you are retiring here, you are retiring as a tourist, the deposit or income limit is just for you to prove that you can sustain yourself and to improve the economy. if you cannot sustain yourself and living frugally here while daily necessities here are subsidized, it kinda missed the point of the program. with the tier system, at least you have options
This program is not for you to retire here, it's for people who actually can contribute to the country. Not failures who can't afford to retire in their own country and had to abuse currency exchange rate to barely retire.
What do you as a retiree add to the country? You got to retire here but what do you add that the local can't add?
@neku2741 it is just an opinion. No need to be rude.
The problem I have Andrew is the goal posts keep moving? Malaysia It's not the place it was 10 years ago, but neither is the West
Malaysian chinese here , yes the goal posts keep moving even for the locals , but the new government hopefully would uphold it words more strongly. They are showing some progress.
Comoared to many western countries, malaysia is doing quite well, sure its not growing at the rate it used to, but far better for foreigners than many european countries
The deposit for MM2H used to be RM150,000 if you were over 50. The Malaysian Gov increased the deposit to RM1m (x7)! Many many retirees from the west who are not wealthy were seriously put off. The MM2H processing fee was free. The Gov then said RM5,000 application fee!
The monthly income requirement was formerly to show you had RM10,000 a month in pension or other income. Mal Gov increased it to RM40,000 a month. This shut out most applicants because the sup rich don’t come to retire in Malaysia. It’s mostly middle class middle income families from Europe. Annual fee was RM90 but Mal Gov changed it to RM500.
Result = a 98% drop in applications.
You can’t trust a country that changes the rules this significantly overnight.
Look somewhere else ! Malaysia doesn’t want you. That much is clear.
yeah, they change policies suddenly and are inconsistent, they only look at the entire thing as a cash machine
Newsflash.. Nowhere wants you. They want what you bring. They changed things for a short time for probably many reasons, now they changed again to something that makes sense. Thats all.
Well they don't want stragglers ... Unlike the West who welcome Illegal Migrants
This is actually to curb the westerner failure who escape the west because they can't afford to retire there.
Malaysia is not a place for you to retire and enjoy life, you're abusing the system if you do that.
Like going from KLIA2 to KLIA1! :😅
I was there 15 years ago for a couple of months for work, I loved KL. I'm surprised at the USD to Rm value though. It was $1USD to about $3Rm when I was there, the USD is worth a lot less today, but the Rm seems to have faded quite a bit.
I met several Australian expats while I was there and spent an evening drinking beer, eating shrimp and watching the city walk by in Chinatown adjacent to the city center. I think it was about $5 USD equivalent for me to do that. The retired couple I talked to that evening lived there permanently for several years and loved it.
I also remember cats in restaurants, and being told they were welcome there because they earned their keep in taking care of any rodents. But it was pretty common to be sitting down for a meal and having a cat keep me company. They seemed well fed, and just wanted a pat on the head and some stroking.
I do miss Malaysia, the people, the food, the cost of living were all very enjoyable. The tolerance of the Malaysian people to all the different cultures and religions was something I never saw before, or since.
Thanks for your kind words ❤️🇲🇾
what on earth are you talking about. 1 beer is gonna cost you 3-4 USD because of tax. in high end expat areas like the KLCC its more likely 8-10 USD a pint.
@@chinobonito30 dude, do you even read people's comment before commenting? He said that was 15 YEARS ago!
I lived in Malaysia in the early 2000's.
I haven't found a country like that!
This is why I love this channel. It give’s the bigger picture, which I can then adapt to a ‘Lite Version’ for myself. When I worked in SE Asia, I traveled extensively around the region and loved it. So, to get my trifecta, it only made sense to choose a property as my anchor - thanks to good advice.
With residence permits in Europe, SE Asia and Africa, I am now watching closely to see what the future holds.
Thank you so much for your kind words! It's amazing to hear about your experiences in SE Asia and how you've been able to create a trifecta with residence permits in different continents.
So well explained !
Sarawak MM2H was there since day 1 just less promotion on this program. Borneo have their own immigration law. If u are on federal mm2h you can’t stay long term in Sarawak but Sarawak MM2h allowed east and West Malaysia without restriction.
If i get Sarawak-MM2H,
can i stay in Penang (West Malaysia) for several months ?
@@moh6410 of course. U only need to stay in Sarawak 30 days in a year. Rest of it, you can stay anywhere within Malaysia.
@@ednatham thank you
does the applicant need a sponsor for the S-MM2H?
I am grandfathered in to mm2h but I have little confidence in the new system. For me I do not like the idea of spending 60 days in Malaysia every year. I think that it is far better to say how many days over 5 years. In addition, I am not sure that the income requirement has been officially removed. Motac still is not responding to questions. I have spent far more days than required. I do not like the change impacting existing mm2h visa holders, but it is still better than the last mm2h. I have the thai LTR visa and that was simple, cheap, and less rigid than mm2h. Thailands concern is taxing global income and still no final say in that area. thanks for your thoughts.
I think you don't have to spend 60 days continuously in Malaysia. You can break it down to 60 days in a year. Example, 5 days in a month. You've to be in Malaysia for 60 days in total for a year.
@@kennyng2289 I agree. I phrased it wrong. A total of 60 days each year, but what if I like to spend a year somewhere else. To do 60 days then I must come back and stay in a hotel or other temporary place and I have pets. It seems like a burden to me. Why not ask money if I do not spend the 60 days in Malaysia. MM2H was supposed to be a second home. I have spent 1800 days but that counts as nothing in the next year.
@@kennyng2289 After reading my initial comment I did phrase it correctly. I did not say continuously, but probably that would be the case instead of coming back and forth to Malaysia just to meet that requirement. It was not well thought out in my opinion. It should have been a certain number of days over 5 years.
If you find 60 days burdensome than why even bother with mm2h - just come in on a tourist visa …
@@cber5077 I guess you do not understand. MM2H visa was a 10 year visa and you could decide when you wanted to come and how long you wanted to stay. At that time they made no yearly requirement to stay 60 or 90 day. Many would not have taken the visa under those rules because a regular visa has no stipulations on how long you need to stay each year. When you do not meet the new rule then your visa is cancelled, and you are unlikely to get a new visa. So if you wanted to stay for 2 years in another year, but not this year then you are cancelled. It seems to be a policy not fully consistent with the needs of retirees or with the concept of a visa. Maybe you understand but I doubt it.
You don't mention that the government has announced that foreign income for Malaysian residents will be taxed from 1 Jan 2026. This is causing many people, already in Malaysia, to think about settling elsewhere.
Slight note, exempt till dec 2026.
@@CometFire2010 Yes, thank you for the correction.
very important point. why on earth are these people not mentioning it? mmm.
If it costs a lot less than & $9000 a month to live in Malaysia, it doesn’t make sense to have such income requirement. Then just live in the US😮
@hieveryone2003
Must be looking for Chinese fleeing the CCP or Russian fleeing Budens sanctions
Live in the Philippines on a tourist visa that you can extend indefinitely. Cost is about 30 usd per month. Can extend online for up to 6 months (so no monthly or bi monthly visits to immigration). Must exit the country ounce every 3 years for minimum of one day.
If you get the platinum plan, how long does it take to get a permanent residence? Also, after obtaining the PR, does that negate the 60 day per year requirement total of you and your spouse residing in Malaysia?
For more details you can see this video: ruclips.net/video/Z0qETsHeIGQ/видео.html
This is awesome news for me, I already do everything health related in kuala lumpur
Great info! I will certainly keep this in mind. Thanks!
Listen guys. Andrew could never be wrong about Malaysia. Now many Singaporeans, mainland Chinese and Indians are moving to Malaysia because half of the deposit money could buy land, landed property and high class condos in Malaysia. These types of properties in Malaysia could never depreciate in value and we Singaporeans love to buy land in Malaysia for durian farming, building private bungalows or factories etc. The longer you wait, the less opportunity you have because tide and time wait for no man. When the demand is met, the supply will disappear. This is the law of economics. (From Singapore)
Happy New Year 2024 to you and your team. Thank you for this video. Wonderful content. It's a crystal clear clarifications for the new MM2H, elaborated excellently.
I brought my money (for my MM2H) in at around 3.8 to USD. It rose to 3.0 at one point and now is at 4.6. But over the years the higher than average interest rate has resulted in deposit being worth more in USD than what I brought in back in 2006.
And I see the Ringgit being somewhat stable at 4.7 or so going forward. I do not see a downside risk over the long term.
May I know what is the interest rate on the deposits in the bank. Thanks.
@@cookmaster3626somewhere around 4-5% per anum
If you’re afraid of loosing with the currency rates , you can always convert your money into gold within the banks
There are many ways to do…
@@cookmaster3626 Up to about 3% is the highest in any of the banks as of January 2024
@@cookmaster3626 Malaysian here , it's 3% at the moment (fix deposit) , it been 2.5% - 3% for pass ten years ? Yes it's low cpmpare to US 5% , but it was still 3% back when US is close to zero%. One strong point is even when US raise rate in fast pace, malaysia fd rate only up twice in small scale like 0.25%. I suppose that is more stable. But there is foreign currency fix deposit available in major local bank which you can bank in with foreign fd rate. Cultural , language or civilization(in major cities) integration is great, but for foreigner government still struggling to integrate it economically.
@@cookmaster3626about 3.4% for FD
Malaysia official didn’t say the Silver can be renewable like old MM2H version. It’s said that you need to re-apply for the progress after 5 years. Means new conditions and applications fee need to meet. It seems a one-time visa. Certainly finally explanation still not announced
Original program was superior. During the pandemic, MM2H holders who were out of the country weren’t allowed to return, so can u imagine if you’ve got a flat or house there. U had to wait for months to get back in. Terrible government service also.
meditate:
to think on, from Latin “meditat-”, meaning “contemplated”, from the verb “meditari”, from a base, meaning “measure”.
In most religious/spiritual traditions, particularly those originating in Bharāta (India), meditation is a mental practice in which one either allows thoughts to appear in the mind (and simply observe those thoughts without judgement) or else one tries to focus all thought upon a single object. That object can be almost anything, yet most commonly is a religious figure (such as God, a demigod, or a spiritual master), a point in one’s visual field (such as a candle flame), a brief prayer (normally referred to as a “mantra”), or else, observing or focusing on one’s own breath (a fundamental part of “vipassanā”, in the Buddhistic tradition [“vipaśyanā”, in Sanskrit]).
The main benefit of meditational practices is to free the mind of superfluous thoughts. Some individuals in the so-called “ultra-spiritual” community mistakenly believe that the cause of suffering is any thought whatsoever, and therefore, embark on a fruitless endeavour to eradicate all thoughts from the mind (or at least from the intellect - see Chapter 05). How I wish that every single one of those persons end-up in a coma for the remainder of their lives, since that is the only way that they will possibly achieve their impossible goal. Humorously, even coma patients can experience dream thoughts, so even then, their aim may be thwarted!
Fortunately, as demonstrated in Chapter 15 of this “Final Instruction Sheet for Humanity”, the source of suffering is NOT due to thoughts as such, but due to a misunderstanding of how life operates. The cure for such nescience is unerring knowledge. In fact, I would posit that excessive meditational practices, such as that observed by the stereotypical Hindu/Buddhist monk who flees to a mountain cave in order to meditate for about fifteen hours per day, is actually detrimental to one’s spiritual development, because it weakens the intellect. Just as the physical body requires regular exercise, the intellectual dimension of the human person also needs to be exercised via the study of philosophy and yoga, which is especially important for those who profess to be spiritual teachers.
Therefore, a healthy balance between contemplative practice, intellectual endeavour, and physical exercise is most beneficial.
Possibly the most apposite form of meditation for the overwhelming majority of humans is a kind of ACTIVE meditation, in which one is perpetually contemplating how to best benefit society. Because it is practically impossible for one to fully control one’s thoughts, one should use the hyperactive nature of the intellect to its advantage, by constantly devising methods how to further dharma. This is the principal meditation practice of the current World Teacher Himself, The Saviour of Humanity, Jagadguru Svāmī Vegānanda.
Some persons believe that one can learn the “secrets of life” (that is, to fully understand life/existence, and how to live one’s life in accordance with the universal, Divine Will) by sitting in the lotus position and focusing one’s attention on the base (or tip) of one’s nose for several hours per day! Undoubtedly, some have received wise insights during their meditation practice, but to assume that one can replace the accumulated wisdom of the sages over the past twenty thousand years or so, with an introspective path of illumination, is, sad to say, one of the many delusions of pseudo-spirituality. None of the great sages in history were so naturally enlightened as to dispense with a living guru. Even a single day spent at the feet of an actual spiritual master can be more valuable to gaining knowledge and insight into the meaning of life, than an entire lifetime of meditating on one’s navel (figuratively speaking).
It was because of COVID obviously.
I was lucky enough to live in KLCC from 2015-2017. I really enjoyed living in KL and plan to be back soon to retire. Manila is just chaos. Cebu City has appeal but I like MH.
I’m closing in on retirement, and I'd love to move from Minnesota to a warmer climate, but home prices are ridiculous now.. do I look at other assets and wait for housing crash, or go ahead with house purchase anyways?
Very true, people downplay planners role, until burnt by their mistakes. I remember just after my layoff early 2020 amidst covid outbreak, I needed to stay afloat, hence researched for license-fiduciary advisors. Thankfully, I came across someone of practical knowledge, and decades of experience.
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial advisor but it's advisable, you make use of financial advisor.
I have turned over more than half million working with Chris Ryan Stewart on a wide array of options and finally sticking to a few that have been favorable in the past 2 years. I began working with him in October 22 after the Fed lended 300b usd for stimulus to stem crisis, I knew I needed help.
How can I get in touch with him?
CHRIS RYAN STEWART
GOOGLE THE NAME
Is the new MM2H that is discussed here already open for application?
I am interested in getting the silver tier...
not available - program not started yet.
Apply Malaysian citizenship by naturalization: 21 yrs old above, live legally for 10 years(any visa), pass Malay language test(lowest mark 1, highest mark 8, passing mark is 2), in 2023 citizenship application process period is shortened to 14 days (Malaysiakini and various news outlets)
Congratulations! 😊
Good for you maryisan
Sound great keep up the good work .
The Malaysian govt is missing a serious opportunity here. They should create a specific visa for retirement with the original mm2h requirement, only for the over 60s, but only last for 3 years, and renewable for RM10,000/pp. What we will get is a bunch of harmless old people with money to spend. The govt basically get free money, and the retirees can spend their dollars in the sun and support local employment. Who does that hurt?
They are very scared. They think people will come and take their land :)
Ever consider running for Prime Minister of Malaysia...with all that wisdom? 😂
Nah, boomers are not easy to take care, health issues
Malaysia has millions of illegals. They build the infrastructure and do most of the real labor in the country. Sadly, some people made the mm2h visa holders scapegoats. Most retired mm2h visa holders will not buy property because it is overpriced, illiquid and there are minimum amounts. The elephant in the room is why do this, but I think we know the real reason.
Maybe ML is not interested in attracting retirees. did not work in Thailand and will not work in ML. Retirement visas In Thailand did not attract retirees with money, it attracted cheap Joes who try to live king's life on 500 USD budget. Just not worth it for the country.
To be honest, I totally disagree. There is no way I would deposit 1 million Ringgit in a Malaysian bank account. First of all, the money could be invested and work for you. If we are conservative and say 5-10% per annum, that's $10,000-$20,000 that you are effectively losing. Who on earth would pay that kind of money for the privilege of staying in Malaysia when 90 days are visa free anyway?
Secondly: You are exposing yourself to currency risk. What if the Ringgit nosedives and loses 10% against the USD over the course of a year? That's another 20,000 USD down the drain.
Yeah ... no thanks. I would MUCH rather pay for the Thailand Elite Visa. It's quite expensive too, but you don't have to lock your money away in some low-interest bank account.
And what is the dollar depreciates against the Ringit? You think our recent massive US money printing doesn't make this more likely? A big benefit is being able to open a bank account in Malaysia with residence, are you gonna be able to open a Malaysian bank account do that on a tourist visa?
Interests will be given for the RM5 million kept in the bank. Of course, the interests rate will not be 5 - 10%. It will be less. You can take out 50% of the RM5 million for purchase of property, for health care or for children's education.
Property price in Malaysia unlikely to go up and highly possible to go down.
Ringgit going down and down. Meaning money in Malaysia bank will be lower in value.
Politically unstable. Policy can change anytime. Very good example, Forest City.
Forest City is doing well in 2024 onwards, with the Sultan of Johor takes turn next month as the new King of Malaysia..
@@decTac you can really foresee the future. How about iskandar?
@@seanlee7670 you don't follow up the news, you are dreaming literally 😆
@@decTac your English is bad. Is mean now. Now is good? You better drive there and take a look if you are in malaysia.
So what if sultan of Johor become agong? For so long Johor is good? Flooding at kota tinggi, Johor bahru, kulai. Hope it make a difference and your prediction really come true.
Hmm. Interesting but . . . I am an American retiree in Thailand on the 10 year pensioner LTR visa. I really have only three qualification requirements - age over 50 years old, $80,000/yr passive income (my work pension), and health insurance. No bank deposit requirements. The visa has a one time fee of 50,000฿ (~ $1,400). Multiple entry. One year reporting but not the typical 90 day reporting.
My understanding is that all the details of the program have not been released, including income requirements. Does anyone have anymore information on the complete program?
Great to hear that you're already aligned with health-related activities in Kuala Lumpur! It's a fantastic city with a lot to offer.
That is my understanding too. Unless Nomad Capitalist have some insider knowledge the agents do not have, it might be a bit early to assert that there is no income requirement
For the platinum pass, can the dependents also acquire PR?
Until they get fed up and change it all over again. I witnessed how absolutely appalling existing mm2h residents were treated during and after Covid with many forced to sell up and leave because of the ill thought out and damaging requirements of the last mm2h rework. The Malaysian government is unbelievably corrupt now, zero accountability and couldn’t careless for their mm2h residents. I will never go back.
Malaysia :
1.Tax friendly
2.Great weather
3.Nice people
4.Foodie heaven
5.Majority of it population can speak English.
6. Low cost of living & super low public transport cost.
7.Multi-cultural, heritage & religions.
8. Lower crime & homicide rate vs Bkk.
9. Better Air quality vs many major cities in SE Asia... during burning season many digital normad will run to Malaysia.
10. Top 10 diving site in Sepadan Island Borneo.
Malaysia is developed now but Thailand and the Philippines partially.This is why the Philippines and Thailand is a better fit for people in there 20’s because they are still developing.With the new tax laws being implemented in Thailand and the Philippines I’m going to be looking for the cost of living to be going back down in the near future in Thailand and the Philippines.
The Philippines has a population of 115 million people crammed into 300,000 square km (almost twice the population of Thailand in half the space). I wouldn't put it in the same basket.
@@Daniel_RG besides the population they are both developing countries and emerging market economies these type of countries improve better with younger generations so as Africa instead of retirees and high earners.Because most of there population is average earners anyways Thailand and the Philippines has never had a multitude of areas sighing there country that are wealthy or at least millionaires they have always had more poverty.But they finding ways and alternatives of improving there economy but there taking a different approach something unexpected and improving there economy by building a stronger middle class and making it less desirable for high earners and retirees.
Being more developed is due to less calamities, smaller population, revenue from oil and gas is quiet abundant. Downside, it attracts "flies" meaning illegal immigrants from Pakistan, india, nepal, Bangladesh, indonesia, myanmar, vietnam, philippines. Dangerous to our national security. Not to mention refugees from rohinyas. They are involved in crimes.
Are you absolutely sure there isn't any income requirement? Do you have some insider knowledge? Most of the MM2H agents are saying these details are only the preliminary announcement and the full details will tell us what the income requirement is per month. They are still expecting there will be one. Keeping my fingers crossed you are right and the income requirements have been removed.
If you took Silver, withdrew 50% of the 500,000 deposit after a year, would you need to replenish the deposit when it came to renewal after 5 years (since only 250m remains)?
Have you visited Petaling Jaya? It's a very popular residential area
Great place to live.....rains almost every afternoon and way too humid to play golf
What about the people who want to live in Malaysia as retired people and spend their retirement income instead of running a business in Malaysia?
For platinum, when can i withdraw or use the remaining 50% of fixed deposit that is required to be kept in the bank account? Is that stuck forever with the malaysia bank? Will i get it back if i revoke my permanent residency?
To clarify, the revised MM2H scheme isn’t finalised yet, right? There may be further requirements to be added? And, as of now, we can’t apply for the scheme? So this video, whilst informative, isn’t based on the defined MM2H scheme? Thanks!
Yes
Sarawak MM2H program is much affordable. Expats are only allowed to stay 30 days in a year and you can reside in any other places in West Malaysia. But applicants not under Sarawak MM2H program are required to get entry pass to enter Sarawak and Sabah. I am an America citizenship holder born in Malaysia. My American husband and I will planning to apply retirement visa retiring in Malaysia.
We have talked all about it in this video: ruclips.net/video/Z0qETsHeIGQ/видео.html
Expats can ONLY stay 30 days? Or must stay a minimum of 30 days? Those are opposite results. If I have the Sarawak MM2H can I live all year in Sarawak?
This man changed my view about so many stuff in my life. I would live to assist to one of your conference and maybe if I'm lucky shake your hand and take a picture with you. Is that possible. You truly changed my view is the west and have ne confidence to travel and explore. I'm in Thailand right now. ❤❤
Thank you for your kind words and for sharing your journey with us! It's wonderful to hear that our content has had such a positive impact on your life and perspective. We'd be delighted to meet you at our Nomad Capitalist Live Event 2024 in Malaysia. It's a fantastic opportunity to connect with like-minded individuals, gain valuable insights, and explore new possibilities. Looking forward to meeting you there!
There was no mention of monthly offshore income stream. Is there no requirement on that now?
Something that nobody is talking about here.I may be wrong ( pls correct me if it s the case) , but Malaisia is on the common law ( anglo saxon legal system) so, i think that people wanted to execute a WILL and dispose FREELY of the way they want to have their money distributed when they die, Malaisia is allowing it.
That s a point important for me.I can t do it in EU( i am Belgian, residence in Hungary), i can t do it in the Philippines ( where i was for 10 years), i COULD do it in England, Australia, Usa, Canada, .. but i DON T WANT to live in those countries anymore because of demographics,ethics, and you know..the way it goes there now.
Malaisia makes sense for me
Sp potentially.. if I get 5 year permit a some point this year and the program gets cancelled, I'd be out after 5 years. Bu the 15 year program makes a lot of sense if you can spend half the money on property.
How much is it to renew the silver / 5 year visa? Wouldn't that make the most sense to get? If easy to renew? Do you still need $9000/mo income or what is the monthly income requirement for the silver?
"We are still awaiting clarification on the minimum monthly income required to be eligible for the visa, although they may have removed this requirement. The existing program requires proof of income of RM40,000 per month." Do you know if this is true?
is there a minimum amount of time you have to spend in the country depending on your plan or is it whenever you want?
All three tiers (silver, gold, platinum) have the same requirement: you have to be at least 60 days per calendar year in Malaysia.
8:20 where is this, Andrew?
great insights.are their policies retrospective? for property purchases, most likely there is high risk since the exit is challenging to find the next buyers as locals cannot afford it.
How hard is it to get a nomad visa for a software engineer? I dont make over 24k year annually but I am close
This is another program that won’t fly. If we compare to other residency programs, the new MM2H is not competitive.
If I wish to get residency in Malaysia, I would set up a legal entity in Singapore, which would open a Representative Office in Kuala Lumpur.
This Representative Office in Kuala Lumpur, then, would hire me as an employee. Easy peasy, reliable, and way cheaper than the new MM2H.
big tax changes from 2026. but he is saying its a 'tax friendly country?' also no mention of the depreciation of the RINGGIT long term which is a huge risk. i think the audience is forgetting that the 2m needs to be MAINTAINED in the account for 15 years. so its a long term depreciating asset, who wants to do that? i know Andrew loves the country personally but still
property prices and std of living is wayyyyy cheaper than Singapore
currency at play, plus Singapore is small, available land to build a house are scarce. Singaporean even go to Malaysia to buy their second home, go back and forth occasionally to fill their car with fuel and groceries
I don't understand the concept of having x units of currency deposited in a Malaysian Bank, and then being allowed to take y units out. I thought a condition was that a minimum balance be maintained in the bank. Please clarify. Thanks.
Welcome Everyone To Malaysia 🎉 And Do Grab The Real Estate Opportunities 💪
Sorry I know this was touched on but to clarify once the deposit is in their account then 50% of that must remain untouched for the period of residency?
Yes, at least 50%. But it is not "their account". You will have a fixed deposit account at your bank of choice, and the account is in your name. The bank is not allowed to give you access to the deposited sum unless you show a letter from the government stating that you have left the MM2H program and that the money is released.
@windmill1965 So if I get this right...if you want to go for the silver tier. You have to deposite the required money and can only take out half of it? After the deposite, you can basically start renting apartments and stuff for 5 years and keep renewing it after 5 years again? But you have to have that amount in the bank right?
@@abusulayman_That's correct. You have to put the full amount in a fixed deposit bank account at a Malaysian bank before you receive your visa stamp in your passport. After you have completed the procedure and have your visa stamp you can withdraw half of that deposit for qualified expenses (e.g. buying a house). For each of these withdrawals do you need a release letter from the government, otherwise the bank will not give you the money. At least half of the deposit must remain in the fixed account for the entire duration of your visa. And yes, the rules say that you can renew your visa once the period is completed (e.g. 5 years in case of the silver tier). So at least half of the deposit is in this fixed account. The bank will pay you yearly interest for this fixed deposit.
@windmill1965 Thank you for your reply. Are their any banks in Malaysia which don't take or give interest because of religious reasons? Like any Islamic banks which we can see in other countries? Also with this visa, can you have a remote job from another country? If I understood correctly you are not allowed to work with this visa.
@@abusulayman_Yes, there are multiple Islamic banks in Malaysia and they can accept your MM2H fixed deposit. Your understanding is correct: the MM2H visa does not include a work permit in Malaysia. Only under some very specific circumstances is a company in Malaysia allowed to offer a part-time job to an MM2H visa holder. You are allowed to have a job outside Malaysia and do that work remotely from inside Malaysia.
All that outlay $$$$$$$$ in a falling currency????
Crap return on the money being mandatory held as a unsecured loan to the bank.
Can only access 50% of outlay for medical, tourism or property purchase after 12 months
Have to spend minimum $rm600k on property
Digital ID being implemented.
Crappy property market
Good luck if the government changes like the last time.
I’ll stick to my 90 days, cost me nothing
Keeping 5,000,000 millions in the account to keep you PR is not real PR. The PR is conditional, because if the deposit goes under 5,000,000 than you lose the PR.
Malaysia ringgit has been losing its value for years. The 5mil worth lesser over time as compared to many other currencies. Think twice.
@@seanlee7670🎯
@@MuzzaHukkadoesn’t work that way. You have to have a Malaysian father to have a chance at citizenship.
@@MuzzaHukkano. Malaysia doesn’t have birth place citizenship; as far as I know, the father has to be Malaysian.
Malaysia is a nice place to live in, but not sure if it is wise to buy properties there? Value of the currency kept dropping relative to the major currencies. This means that if the property prices did not appreciate much, your wealth will go down.... The maintenance of their condominiums are usually not that good to...... Better to just rent if you want to stay there. .. IMO
What if you are “Married” to a Malaysian my wife already has property there and the kids automatically have citizenship because their mom is still a citizen of Penang but a US permit resident.
What about those old programme mm2h soon due to renew....their next renewal would be applied as per new mm2h terms and conditions ?
grandfathered
No...
But you can't apply now as it is suspended? So many people had said you can't apply as of now. Only those who applied before the changes.
Does this money in the bank... have to be in some savings/checking? Can it be in a brokerage account for investing?
I am confuse dont understand that my monthly retirement $ 2600 wont qualifying to stay for long time!
so no monthly income requirement?
You are asking the most crucial question. There was no announcement regarding income requirements. There was no announcement whether the income requirement has been abolished. There was no announcement what the new income requirement would be. No announcement at all. That's why many people are saying that you'll have to "wait and see" until the full list of requirements will be published. The only thing that was announced is that there will be three tiers instead of one tier.
So what interest will you earn on your bank deposit?
Why is the agent fee is so expensive at RM40,000?
can we deposit the money in USD instead of converting those into their local currency? do we also get the interest profit?
Malaysian government is known for its goal post moving and currently their currency basically depreciating so rapidly. Are you ready to convert your $100k usd to banana notes in exchange to living there? It certainly won't hold the same value to the time you deposit that amount in. Weigh your pros and cons before doing so.
Do you have to have it all in just one account/bank? I hate the idea of "all my eggs in one basket" approach.
You worried about the banks going under?
No such worries, the major banks in Malaysia are safe.
Is the deposit requirement for MM2H per family? i.e get it for 1 and get your spouse and kid to come along?
What a perfect South East Asian residence to have. Compliments a residence in South Korea or Japan well
Lets be honest.. Bangkok, you buy a condo to live, play the nightlife... Malaysia... buy to be domesticated and get medical needs met.
Domesticated..🤣🤣🤣
If I had over a million dollars, why would I move to Malaysia or any other country?!! That's absurd! It has bad air quality, miserably hot and humid climate which I really hate. I'd stay in my cool and nice area in the NW of US, with clean air!
Maybe one perk is you don't have to worry about gun violence?
Healthcare, education, environment, crime rate, no woke nonsense, no need to drive a car for all and nothing, what 1 million $ gets you in MY vs USA, living a a great country vs living in a third world country (USA) disguised as a first world country, the people, the quality of food (real food, not contaminated by 100s of deadly chemicals) etc. I don't see any single reason beside wanting to stay close to family maybe? why anyone with 1 million $ would chose to stay in USA instead of moving to a civilized country like Malaysia, Thailand, Japan, european countries, Mexico etc.
How to find a job there? I want to move there.
wonder what happens after 5 years on the silver ?
You didn’t mention now you have to buy a property in Malaysia to qualify for MM2H， and you have to hold it at least for 10 years
My concern is that they could reject the renewal if the monthly incomes somehow drops below $9000.
*Marry a Malaysian and you definitely can become a citizen.*
What's going to happen with the PVIP program? Not a PR but it does allow you work, study and open businesses unrestricted.
Does it cost more money to renew the silver program?
Putting such large amount of money for 10y /15y or more is exposing your capital to currency depreciation. Your 5 millions Rm worths 1 million € today. But in 5 years it will def be lesser. I dont even mention in 10 years or 15 years. Just look at the historical trend of the MYR against USD or EUR for the past 5 years / 10 years / 15 years.
Malaysia Digital Normad Visa.
Age :18
Annual income : 24,000
Valid for 12 months.
RUclipsr
ichang RM & her husband from Japan got this visa and they are now living in Malaysia ❤.
They got it thanks to their celebrity in Malaysia what about the others, crypto trader, marketing and online designers...
Simple digital nomads are rejected, after several months of waiting...🥺
The only thing I disagree with is "great weather".
Can the money in the bank be of any foreign currencies in equivalent of RM5million? Malaysia is a great place to live!
The problem with MM2H is it can change again and again and again…
Since the general announcement made by the MOTAC Minister in mid-December 2023 when he was in China for an official visit, there has been no further details and official announcement on this new version of MM2H.
I lost all confidence in this program.
This is what keeps me from being too serious about the move to Malaysia, especially if I want to give up my current citizenship. There are no guarantees that the rules won't change and leave me adrift. I will be 65 this year and my income is fixed. It seems a bit of a gamble at a time in life when I would like more of a sure bet.
@@Desizgirl3 The citizenship is notoriously hard to get: "Applications are frequently rejected with no stated reasons and no process exists to appeal these decisions. Out of 4,029 citizenship applications between 2000 and 2009, only 1,806 were successful". In addition, Malaysia does not recognize dual citizenship and, being a Muslim country, rights for men and women are different under the current citizenship law.
@@Daniel_RGnot true abt tha rights for women n men r different. There's no such thing in Malaysia. Where did u get tat info from?
@@mayfoo02 Of course it's true: "Malaysia is one of 25 countries that does not give mothers and fathers equal rights under the country’s citizenship law". For example, while Malaysian fathers can confer automatic citizenship on their children born overseas, Malaysian mothers who have a foreign husband are not able to do so.
@@Desizgirl3
It’s too huge of a gamble. Don’t put your life and future in their hands.
How is US earned income taxed in Malaysia ? Are you double taxed ?
Welcome to Ghost City in JB
If you apply for silver MM2H visa, will you become truly a permanent resident after 10 or 15 or 20 years? After renewing visa couple of times. If not, then what's the use of such PR? Its just like as if you're a tenant and as long as you pay your rent, you'll live there. No sense of security, can't vote, can't work in a local company... It doesn't feel like this visa is friendly for people who are in their 30s or 40s who wants to build themselves there with startups and etc.
As far as I know Malaysia does not recognise dual citizenship. What if I apply for Platinum? Do I have to renounce my current citizenship?
Permanent Resident is not a citizenship. You can be given a PR status in Malaysia without having to renounce your citizenship.
@@ThaiOdessy thank you