MM2H (June 2024 updated version) | 6 Must-knows for Malaysia My 2nd Home Visa
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- Опубликовано: 5 авг 2024
- #mm2hero #malaysiaproperty
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The Malaysian gov is still divorced from reality - not only have they scared off prime MM2H candidates who would have injected many millions into the economy over the last 3 years - new visa holders would have spent at exactly the level needed to benefit the economy and small traders (far more even than was stolen from them thru 1MDB!). Only the desperate will apply for a visa which demands they buy property upfront - and those desperate may include unsavoury characters. The MM2H authorities are best described collectively as "chancers" and certainly as slow learners! Numbers of the righteous applying will be low - once the gov realises they've made another clusterfxxx - they'll change the regulations back to a reasonable level of income - say $1500/mo. Why spend millions advertising the country to attract tourists who stay for a couple of weeks - when the gov could have many "permanent tourists" spending here at no cost? The MM2H programme will fail to benefit the people once again.
mm2h means Malaysia is my SECOND home. Purpose? Enrich greedy house developers because normal tourists don't buy home. So you must be rich to have 2 homes. Who hv that kind of money? Money launderers.😂😂 It is NOT backdoor to citizenships.
they think too highly of themselves.
@@user-yk9fw7qc9p I don't really see the benefit for tourists to buy a house in Malaysia. If you got money just stay in the most expensive hotels, cheaper then buying a house. Ridiculous. Unlike Dubai where properties are used to hide and launder dirty money.
Hi Yew Foong, will you do a video about min property price required in different areas?
Thanks for the suggestion 😊
Great video. Best explanation I’ve seen. Thank you 🙏
I just wonder it is still a disaster or even more of a disaster. If I want to stay winter in KL, I can buy a property for 1mio and come as a tourist, valid for 3 month. There are no visa fees, there is no yearly obligation to stay, there is no fixed deposit requirement. So why should I apply for mm2h if I can avoid such a lot of money and hassle?
For retirees that like to stay year around, they can just apply for S-mmth and have in contrast a much cheaper program, with much less fixed deposit and only 30 days of stay obligation. And besides of this 30 days, you can still live in KL and get a property and live there for the remaining 335 days of the year.
How on earth should anyone apply for this new mm2h?
The S-MM2H still require you to purchase a property just fyi, unless you are above 50. Another thing is, you need to have passive income of 7K RM as well, not everyone has rental income to supplement their retirement.
mm2h means Malaysia is my SECOND home. Purpose? Enrich greedy house developers because normal tourists don't buy home. So you must be rich to have 2 homes. Who hv that kind of money? Money launderers. It is NOT backdoor to citizenships.
You are right ..just be a normal tourist.
I was looking at moving to Malaysia but I don't want to buy a home for 10yrs, I would prefer to rent.
Great! This timely video will help clarify the often confusing topic of MM2H. Good job. Keep it up.
mm2h means Malaysia is my SECOND home. Only for very, very rich old people. Else it's only scammers and criminals.
@@listri8694 You are wrong.
Very well done. Straightforward explanation of fees and requirements. Best I have seen.
Hi Yew!
Thank you for your invaluable information which is always clear and precise. I want to come and live in Kuala Lumpur, a city that I love, when possible I will rely on you both for the purchase of a house and for the MM2H issue
Thank you very much, greetings from Italy 🇲🇾🇮🇹
I read sad stories of those who sold their homes to come to MM2H. After 10 years they have no home in their own country to go back to! So what is their future? This is human tragedy waiting to happen. My second home should be clearly named as my holiday home in Malaysia.
this video really help to understand better.
I would like to stay as a permanent resident wIthout being a burden on the Malaysian government AND spend my money in Malaysia which would help churn the economy but these MM2H conditions are ridiculous. I don’t want to purchase property but happy to rent which would clearly help Malaysian property investors. Malaysian banks interest rates are very low and the ringgit is very weak so why would I? It’s not a good financial move. I have no interest in spending 50% of deposit on any of these 4 sectors? If I could invest in a sector which gives good capital growth and returns, then ok. Agent fees are ridiculous, I can afford but it’s robbery, so forget it.
To apply for MM2H where can look out for the agent to assist us? How much is the fees?
👍👍
Are you sure that the deposit in US dollars not Malaysian Ringgit? Thanks
Does silver plan imply for one person or can this amount be sufficient for 3 members in the family
Ms. Fong, how come that Malaysia will not grant Permanent Residents Visa for MM2h/Platinum Program. Invested to much money yet no PR?
Thank you, I would like to know about Sarwak mm2h and a reliable site to find the list of the agents, thank you,
Beautiful Video ❤️ I think the pandemic has taught people the importance of multiple sources of income, unfortunately having a job does not guarantee financial security. I really appreciate the transparency and giving people a fighting chance during these difficult times.
So True! I'm into stocks Investment, Forex trading, cryptocurrency investments, Real Estate Investments and I am making good profits from them all. I always encourage Investments.
I am interested in forex trading and stock investments, any recommendations? And much can I start with?
Most failures and loss on Investment usually happens when you invest without proper guide. It is best to have an investment *manager* who has in-depth knowledge about investing, to help you make money on your investment on your behalf.
Any reliable professional **manager? I would love to communicate with them. Thank you so much.
@@wuqudus1 gamble only with money you can lose
Country Garden@Damga Bay
Is it under the special zone?
How soon can we withdraw the FD for ppty purchase
I got my MM2H back in 2016. Is there any requirement that I should now comply with? Specifically the 90 days minimum stay?
Rules are usually grandfathered to the time you signed up for the program, ie: 2016.
Hello, good video. Can you tell me if you can open a business on silver visa? Because some say you have to apply and some say you cannot.
10 years? Wow. What happens if you buy a badly constructed dwelling or if the area changes to high crime or the RE value declines drastically. Ten years is far too long to hold.
q: say you apply for silver package, you need to purchase at a property min value at rm 600k with Deposit of 150k USD which you could deduct on your property purchase. rite? my Qs are supposedly you buy 2 properties with total value of rm 600? (just for example) could you do like that? and then could you rent them out?
No you cannot add the value of 2 properties to achieve the minimum price requirement.
You need to own 1 property that meets the price mark.
Thanks for your work and for the information. Great. But one question: I heard that minimum stay in Malaysia was reduced from 90 days to 60 days since june 2024? is this correct?
Hi there! Nope it is still 90 days.
mm2h means Malaysia is my SECOND home. Purpose? Enrich greedy house developers because normal tourists don't buy home. So you must be rich to have 2 homes. Who hv that kind of money? Money launderers. It is NOT backdoor to citizenships.
You are right ..just be a normal tourist. You can leave anytime.
There is another tier for Special Economic Zone. Why this was not mentioned?
What is that?
@nomorenews That is for certain parts of Johor like (Medini and Forest City)
@@yewfoong is it confirmed that the 2 mentioned is SEZ and also there aint any more coming up?
@@Gattberserk They are under the SEZ/SFZ category. As for whether there will be more, no information on that at this moment.
@@nomorenews ghost cities in johore.
Very well explained. However, one question? Is it true that the property-purchase cannot be in the resale market, but must be from a new build?
Only true if it is SEZ and SFZ. For Silver, Gold and Platinum, one can purchase either one.
@@yewfoong Love your channel!! Quick question, what does SEZ and SFZ mean, I may want to buy in Penang in the resale market.
@LittleShanesHouse SEZ and SFZ is Special Economic/Financial Zone. Currently it only applies to Johor.
As for Penang, you can purchase both the primary and secondary market properties.
Can you rent the property you bought ?
Can talk about the SEZ category too ty
Thanks for the suggestion 😊
Is it mandatory to purchase a property in Malaysia when you apply for the MM2H visa. Or can i rent the whole time i have the visa..
You will need to purchase 1 property that meets that meets the visa requirement.
Hi, what if I already have MM2H for 10 years. When renewing, do I need an agent? Do I need to satisfy the new requirements on property and deposit? Is the renewal for another 10 years or now reduced to 5 years? Tk you.
mm2h means Malaysia is my SECOND home. Purpose? Enrich greedy house developers because normal tourists don't buy home. So you must be rich to have 2 homes. Who hv that kind of money? Money launderers. It is NOT backdoor to citizenships.
No, you don't. The new rules are only for the new applicants. For the old applicants it's quite straight forward, you can apply for your renewal directly in the MM2H office in Putrajaya (at least that's how we did), but it's also recommended to save some time spent on paper work and do it through local agent for a small fee. BTW now, it is reduced to 5 years.
Great content. Clarifies a lot. Just one question- can you please clarify point#6. Is the 90 cumulative stay requirement per year or per duration of the visa? So if I have a gold visa, do I need to spend 90 days every year or once during the 15 years of my visa? Would greatly appreciate it if you can clarify this point for us. Thank you.
Hey there! Cumulative stay requirement is per year.
@@yewfoong thank you sooo much for your response.
Are you allowed to apply for a work visa separately if you also have mm2h. My wife is a teacher and would perhaps like to work whilst our kids are at school
If you have a MM2H visa, you can still apply for work visa separately.
Any idea on the probability of being granted work visa, when applied separately?
@@DBAS52 mm2h means Malaysia is my SECOND home. Purpose? Enrich greedy house developers because normal tourists don't buy home. So you must be rich to have 2 homes. Who hv that kind of money? Money launderers. It is NOT backdoor to citizenships. If you retired why must work? can be free volunteer.or .just be a normal tourist.
I have a huge clarification, the MM2H Agent is incredibly expensive and is almost half the price of thai elite visa (5 years.) Now the question is, for Silver visa holder, do you need to pay another 40K after 5 years just to renew again?
That answer is important as if I still need to pay 40K RM again, I might pay more and go for thailand one instead, since it is alot less troubleshoot. Thanks.
Hi there! Based on the current information available the renewal fee for Silver is RM1.5k, Gold RM3k, Platinum RM 5k. Hope this helps. If you need recommendation on MM2H agent, drop me a WhatsApp message.
@@yewfoong hi so i no need to repay 40K RM again for the next 5 years renewal?
@@Gattberserk mm2h means Malaysia is my SECOND home. Purpose? Enrich greedy house developers because normal tourists don't buy home. So you must be rich to have 2 homes. Who hv that kind of money? Money launderers. It is NOT backdoor to citizenships.
You are right ..just be a normal tourist.
@@listri8694 how is it u need to have 2 homes? I only see 1 as criteria.
@@Gattberserk I read sad stories of those who sold their homes to come to MM2H. After 10 years they have no home in their own country to go back to! So what is their future? This is human tragedy waiting to happen. My second home should be clearly named as my holiday home in Malaysia.
If people can’t stay more than 90 days then they don’t have a commitment to Malaysia
I am a British Bangladeshi citizen. I want to buy a property in Malaysia in the next couple of years. Can i buy without the MM2H visa.
I want to rent the property out. For me 3 months entry will be good enough for now. What is the minimum price house i can buy. Also can i apply for a loan from a Malaysian bank?
I already own 2 houses in London.
Hi there! Yes you CAN buy a property in Msia without a MM2H visa.
Minimum purchase price for foreigners in Kuala Lumpur is RM 1 Mil.
Yes one can apply for loan from Malaysian bank if they can prove consistent income etc.
So for Silver. can I buy a RM700k condo in PJ?
Nope. PJ min RM2M and KL RM1M. Still have to follow each states minimum requirement.
Your Government has never mentioned the old mm2h renewals ?? Presume most of the old mm2hers already bought properties during their past 10 years😊
MM2H - SEZ Johor Bahru Financial Requirements: $32,000 Deposit, and to purchase a Home, correct? Can you please enlighten us, what is the Minimum Price for the Home must be?
Hi there! For SEZ in Medini Iskandar Johor, there is no minimum purchase price set for foreigners right now. You just need to comply to your MM2H tier requirement. There is however an important point to note, all properties there are Private Lease Scheme (PLS).
@@yewfoong Thank you for your important reply. But, there must be some Single Family Homes in that area that can be purchased as Freehold, no?
It's all PLS in Medini
@@yewfoong Can explain on what is Private lease Scheme?
And for Forest City it is freehold right and still qualify for the SEZ, SFZ MM2H visa.
May i know which states can foreigners buy property for less than 1 million ringgit?
You can apply for the SEZ visa and buy the properties in Johor, Medini Iskandar Puteri
@@yewfoong thanks for the info.
i thought platnum visa doesn't have minimum stay requirements, but anyhow, it's just plain stupid to force people to stay for any period of time, when people just want a visa of convenience
I am from India with silver visa stock market trading possible in malaysia
90 days cumulatively in 5 years or per year?
Hi there! It's per year.
Hi. Thank you for the lovely vid. Is it true that foreigners can only purchase "new builds" to satisfy the property purchase requirements? It seems that foreigners cannot buy from the secondary market. Please clarify. I think this could have been the 7th thing that you could have talked about in the vid :)
Hi there! Foreigners are allowed to buy BOTH secondary and primary market properties.
@@yewfoong Thank you!
@@yewfoong Where you got that information from? All agents I talked to said it has to be from the developer. Second market is not allowed.
Hi there! Only SEZ visas must purchase Primary market properties. The other 3 (silver, gold and platinum are allowed to purchase both primary & secondary market properties). That's the info we have now but if there are any changes by the government, I will surely update it on my channel 😉
Sis, i think u miss out the 4th cat, SEZ.
also for Sabah and Sarawak which has different requirement than West Malaysia
Wow! Agent fees is so high
It so high that it make thailand visa more attractive, maybe should just apply Thai Elite one.
The MM2H agent fee includes
1) Immigration fees
2) Medical check up
3) Medical insurance
@@yewfoong but its still incredibly expensive, it make thai Elite visa so much more attractive.
If i have to pay 40K RM to stay 5 years, and yet still need buy property yada yada, why not spend 115K RM just to enjoy Thailand wthout any deposit, income or property purchase?
@@yewfoong How much does a medical check up cost? I can get one for free in Australia. How much is Medical Insurance? I get free medical in Australia.
Thanks so much Yew. I´m thinking of relocating to KL and this concise explanation has helped a lot, since before it was all confusing.Can you recommend an mm2h agent of your trust ? How can I contact via email with you ? I wish you all the best.
Hi there! You can email me at yewfoong.realtor@gmail.com
In time for Malaysia to become the AI hub and south east asia
in my heart malaysia will always be the dreamland, keep on dreaming.
I thought our national female badminton player doing property 😂
this wont work... when will maylasia learn
mm2h means Malaysia is my SECOND home. Purpose? Enrich greedy house developers because normal tourists don't buy home. So you must be rich to have 2 homes. Who hv that kind of money? Money launderers. It is NOT backdoor to citizenships.
You are right ..just be a normal tourist.
I agree - I grieve for the local folks that have lost the benefit of the billions in foreign currency that would have been injected into the Malaysian economy these past 3 years - just when people needed it most to recover from covid hit. And as you point out - the silly stubborn authorities continue blindly hoping visa applicants are as daft as they are! Result - more billions lost to the Malaysian people. Just which dunce is advising the departments handling MM2H policy🙄.
@@docd7779 what do you want? PR? citizenships? no way jose ..keep yr dirty money
Y MM2H? y not dubai?
mm2h means Malaysia is my SECOND home. Purpose? Enrich greedy house developers because normal tourists don't buy home. So you must be rich to have 2 homes. Who hv that kind of money? Money launderers. That's where the dirty money goes. It is NOT backdoor to citizenships.
After mm2h approval can i get bank loan for property purchase?
no
haha..
I'm guessing that 40K agent fee somehow finds it way back to the government. Great video Yew
Just rent. The owner is subsiding you. If she guarantees any losses, go ahead. She is a property agent. 🫶