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Malaysia's NEW Residence Program is here! Details on BIG Changes
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- Опубликовано: 17 апр 2024
- #malaysia #mm2h #expat
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Welcome Good People. Are you thinking of moving or retiring outside a Western Country? If yes, we might have the PERFECT place for you! Malaysia!
A country we have totally fallen in love with. This Underrated County has recently released the latest version of their residency program - popularly known as the Malaysia My Second Home residency program (MM2H). And this time, the offer is just so GOOD, it might not last for long. So in this video we cover everything about MM2H.
If you liked this video then you might like below too if you are planning to relocate.
Our PERFECT apartment in an EXPENSIVE Suburb in KL - • How we found the PERFE...
For anyone new here - OUR BACKSTORY 👇
We are Nabeel, Zenesta & Yara - A Bangladeshi Aussie family who recently quit our 9-5 job, sold all our belongings & bought a one-way ticket to travel the world with our child. We left our comfortable home of 15+ years in Sydney to embrace a life of freedom. We curated our own adult GAP YEAR & slow traveling south east Asia.
WHERE HAVE WE BEEN SO FAR✈🌍
🇲🇾 3 months Malaysia
🇹🇭 2 months Thailand
🇧🇩 1 month Bangladesh
🇻🇳 3 months Vietnam
🇮🇩 2 months Indonesia
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DISCLAIMER: We are neither lawyer or financial experts, all the information we will provide is based on our experience having lived in Malaysia and publicly available information. Also this program is known to have changed over the years, so always seek professional advice when going through the application process. And do your own due diligence.
We wanted to highlight that for Purchasing Property in Malaysia, as part of this program, a Silver Tier applicant's minimum purchase price is slashed by half
For Example:
In KL, the 2M RM minimum purchase price has been reduced to 1M RM. Note: 1Mil RM = USD 213K, AUD 323K, CAD 287K, GBP 167K, EURO 194K)
And Outside KL - 500K RM from 1M RM. Note: 500K RM = USD 105K, AUD 161K, CAD 144K, GBP 84K, EURO 98K)
But the minimum price for property purchases for the other categories (Gold & Platinum), has been set to 750K MYR.
great info =)
Silver Tier minimum property purchase is RM600,000 BUT States govern foreigner minimum purchase price, not the Federal Government, so there's a lot of confusion as to which threshold will actually apply to new MM2H applicants.
@@markwerner5149 Yes, I understood Selangor was still 2M MYR - by state government. Seems very confusing.
Unfortunately, the MM2H program is not currently open to new applicants. The new 3-tier program was first presented at a press conference in December 2023, but a date for the final rollout of the program has yet to be released. MM2H agencies were undergoing a renewed approval process - this process has just recently halted for some reason. Everyone is waiting for the program to restart; patience is required to complete this visa process. Also, there is currently no monthly income requirement, and the old 40,000MYR per month figure, may or may not be part of the program - no one has been told.
Oh wow - thanks for sharing
The reason for the halt is to weed out unethical agencies. Especially since many of the agencies have been guilty of bringing in mainland Chinese residents who have abused the MM2H process. Therefore after the guilty agencies are taken out of the process, the system will be restarted for legitimate applicants.
@@cleanenergyinside1921 Surely the Malaysian police and security services needed to deal directly with the criminals. How does an agency know how a visa holder will behave in the future? If the applicant has all the correct documents and the MM2H department has vetted the applicant and passed them it is the fault of the government department not the agency - due to incorrect or failing security procedures. Why stop the agency review process with 20 agents still to review? Why not supply the full MM2H requirement information? Why have a press conference for the program with missing information? Why have a press conference when it has not been approved by the full government? Why not just open MM2H to Muslim applicants if the government only wants residents from certain religions or countries? So many questions.
@@tinydetour You said you just went through this process...and you didn't know it wasn't possible to go through the process...?
I hope they pass it this year, I mean the bill. I wish to move to Malaysia by end of 2026 may God be willing.
Very Informative…Thank you😊
🙏
Assalamualaikum Brother & Sister. Thank you for promoting my beautiful country. Love from KL
SALAM.. Ofcourse we love Malaysia
Love your presentation style you guys! Your journey is so inspiring and really resonates with us as a fellow "adult gap year" travel family.
Thank you so much for inspiring us Saira.. where are you guys going to after pakistan
Thank you for your lovely video, sharing your valuable knowledge and experience living in Malaysia. Hopefully, you and your family will be able to live in Malaysia.
Thank you brother. iA
@@tinydetour You are welcome. Appreciate your videos. 😀
requirements start at 5minutes and 15 seconds. you are welcome
Thank you
👍
THANK GOD FOR YOU!
Glad you are enjoying this. I think it's a good decision to move on your part. All the best to your family. We will take early retirement too, may God be willing.
Thank you so much... and all the best with your early retirement. How long do you have left, and where are you thinking of staying then?
@@tinydetour We are in the USA, we will stay here for 2 more years and sell our house so that we can meet those deposit requirements inshAllah. By the way, I saw you travelled some other areas, if you had Malaysian drivers license, could you rent a car in Cayman island? Since you said it was difficult to find grab/uber? Is renting available anywhere?
InshAllah brother... we wish you the best of luck.
Sorry, did you mean Cameron highlands? If yes, then no there are literally no grabs there. Their local taxis control the market there. Renting a car is available almost anywhere to be honest but we didn't because we found it cheaper to use train, bus or even taxis
Hey Tiny Detour, I’m coming to Malayisa with my family for 3 weeks, would love to meet you guys for a dinner with my family in KL , I’m trying to show my family this part of world for long term stay, we are from the US as well. We are coming in May. Pls do let me know . Thanx
Hey there! That's awesome that you are checking out Malaysia... im sure you and your family will really like it... we would have definitely taken up your offer, but we are not in Malaysia, we are in Indonesia at the moment and here till early June... may be our paths will cross someday iA
Hi.
Like your videos. I have a question the amount that you transfer to Malaysia bank account is it kept as US dollars or is it Malaysian currency?
Thanks a lot for watching. I believe the only requirement is that the money stays within malaysia in a bank there.
I enjoy your videos; they are entertaining to watch. This one seems to be an informative video, but I am a ittle confused. The newest version of MM2H was publsihed on December 2023 but it is not active yet. So, not sure how you can say that the application takes about two months. Also, the authorities have not clarified whether there is any income requirement or not. So, not sure what source you are using to disclose the income requirement in your video. I believe, the 40k ringgit per month income requirement, you mentioned in the video for the new silver tier, was that of the previous version.
Thank you so much for the kind words. Yes, it seems like the information is quite conflicting... we got our info from the immigration website and some agent websites. We will try to get more up-to-date info
There is some delay in peninsula mm2h. So just try sabah and sarawak mm2h.
Yeah that's what we heard
The fixed deposit might be a deal breaker for some retirees who are currently getting an ROI from their current investments of over 10% in their own country. Malaysian banks are currently offering a measely 4% per annum. The difference between 4% and 10% represents a significant loss of capital growth. On the other hand, that 4% return is tax-free.
Yeah that's a fair point
Can one member of the family stay 90 days and, by doing so, satisfy the requirement of the remaining members? For example, my wife and the children, but not me.
Not sure we understand your question
@@tinydetour This is about the minimum 90 days stay. If my wife stayed 90 days and I did not. Does her compliance make me also compliant, or I should also complete 90 days stay?
You need to be more thorough with your research. As many commenters have pointed out that the newly announced 3-tier program has not been launched and details are still unavailable such as minimum income requirements (if any), fixed deposits for spouse/dependents (if any). It cannot be assumed these requirements are no longer there just because they are not mentioned in the announcement.
Yes, thanks ... we we researched in multiple videos and blogs it was mentioned as though released
Minimum monthly income is not required
Where did you get that info from?
They likely just not have announced it yet.
I see
ooo... so does that mean NZY will be making Malaysia their 2nd home soon? wooohooo
Hahahaha...brother you have been following us in most of our gap yr country...only fair that we follow you 😂
@@tinydetour sweet.. come on over asap.. 😆
Thank you for the video. Quick question:
A- how many times can you renew your Silver MM2H visa?
B- on renewal, do you again need to put in 500K into your bank account? Or if you took out 50% after one year, then you need to again put in 250k at the end of visa for renewal?
C- after how many years will MM2H visa guy be able to vote or can apply for employment in Malaysian company ? Like after how many years he will be considered an actual permanent resident with full benefits like that of a local or a person born there?
Hi,
I don't think you can become a PR/Citizen (unless you get the platinum)... also, in terms of renewals, we know you can - just to be safe, it should be done some months before it expires, but we haven't seen info on how many times you can actually do it, which tells us it's a Gray area. But think about it, they want foreign currency, and u are not even giving them citizenship, so i don't think they will stop u if you maintain the requirements. If you are really interested, please do it through a reliable agency. All the best and thanks for watching
@@tinydetour I would love to be permanent resident in Malaysia but the cost is just too high! Unbelievable! Even you can get Canadian PR for a single person under 15k CAD, but here, it's ridiculously high! I mean, if you're taking 500k MYR, at least give us pr !
@@lonewalker1595 How can anyone get Canadian PR for 15K CAD? I am assuming you are referring to an overseas skilled migration pathway? There are many caveats for that so not really an ''apples for apples'' comparison. The minimum investment would be at least CAD 800K to get an investment visa/residency in Canada. But look, at the end of the day each country has the right to decide their own policies, but it's also a free market - so prices will always be determined by demand/supply. All the best :)
Hello I would like to speak with someone if possible. Your info is different from other videos.
Yeah best to speak to a professional agent
Did you actually go through the new MM2H program? It seems to me that the new MM2H is currently still on hold….
No we didn't go through it, but researched because we are interested in applying
Aoa, I m a doctor... Is there any good Apportunity fr people frm medical department
I believe the program is not dependent on your profession, it's dependent on the financial requirements being met
that income requirement is ridiculous. If I made 8.5k a month I would not be looking to move elsewhere!!
They are targeting high net individuals who are looking to diversify their options
we have so many bangladeshis here in malaysia. you'll feel right at home.
If I go, it won't be for them 🙂
Malaysia is land connected to Europe so you can travel by road to Europe.
👍
good deal? are you guys crazy? earn interest? you now have to buy property, hows your deal now? 5 yr visa but you have to hold property for 10 yrs.. that sounds good to you?
suppose it really depends on the circumstances of each individual/family
Why not in Saigon?
To move to you mean?
@@tinydetour Saigon is really nice, and will continue to get better😘
Yes, we really liked it and think it's a great place to move too. The only thing we will need is someone to cook our kind of food us 5-6 days a week while the other days we can eat out.
But y malaysia? Y not dubai? 2nd most stable economy in the world
U mean in terms of residency program or just country overall?
Dubai is a fake country like fake golf courses fake rain hence why they had a flood. Expensive and hot weather, reliance on air conditioning all the time. Malaysia hot also but rains every 2 days and at night it's nice and cool.
Nothing for retirees over 50s anymore 😕. Not sure I would want to live in Sarawak or Sabah but I will be visiting Malaysia first time towards the end of the year for a vacation to see if it’s my cup of tea.
Yeah do visit and see if it's for you or not
Thailand just reform their tax system. Malaysia will soon follows too.
I see
Clickbait vids. All valid points of view to hook you in to watch, then after you do your own further research, ....it's not for you and that's 10mins of your life that is gone forever.
Such a massive miss. Those 10 mins would have changed your life forever
who make 8k a month lmao
Lots of people
Down graded. From 3rd world to 1st and back to 3rd. Reverse logic.
What?
Tau x per, mula² sombong kate saigon bagus , p la duk saigon
Cant understand what you are saying
7:08 Thank you for the different currency displays.
Please can I have your email to contact you directly.
Thank you for noticing. You can find our email on the about us page on youtube