New and Improved MM2H

[yobyella]

Got nasi padang....

Bbfa spotted.

 

[Wanderer123]

Bbfa spotted.

Moi slim n hamsom...

 

[yobyella]

Interest in MM2H increasing with news of updated rules​

PETALING JAYA: Agents for Malaysia My Second Home (MM2H) have seen an increase in interest in the programme with the majority coming from China after the new guidelines were announced.

MM2H consultant Tara Lim said majority of those who are interested are from China, but she is also seeing increasing interest from Taiwanese nationals.

“I have more than 70 interested applicants, and many agents around me also have around 40 to 50 potential applicants,” she said.

She added that there is also increasing interest from Singaporeans who are considering MM2H for retirement, as it is an attractive option due to cheaper living costs and a similar culture.

With the requirement of RM40,000 offshore income removed, more can apply as they don’t have to fulfil the income requirement,” Lim said.

“The changes to owning a property may deter some; however, those who own property in Malaysia will fulfil that requirement.”

Property ownership is still cheaper in Malaysia, which charges up to 4% stamp duty compared with Singapore’s 60% additional buyer’s stamp duty fees, she added.

She also said that compared to a similar programme in Thailand (Elite Thailand), Malaysia’s programme remains competitive.

“Elite Thailand requires at least 900,000 bhat (RM115,000) for five years in fees, which are not refundable, whereas under MM2H foreigners have a fixed deposit and property ownership that they still fully own,” she said.

Current hotspots for MM2H applicants are Kuala Lumpur and Penang with Johor also rising in popularity, she said.

Lim also clarified that those who came under the previous MM2H conditions are not subjected to the new rules.

“They should refer to the conditions as per their approval letter,” she said.

Jaime Chiew, managing director of an MM2H consultancy, also said she has noted a slight increase in interest after the announcement of the new guidelines.

“I have quite a number of interested parties wanting to apply for the programme, especially those who can meet the new requirements.

“But there are some who still find the requirements too strict,” she said.

The mandatory property purchase, especially the 10-year holding period, can be a significant financial commitment, she explained.

“It may be too early to determine how many will actually apply. We still need more details from the government for the application procedure and the approval duration,” she said.

Malaysia remains an attractive MM2H destination, especially with its lower cost of living, diverse and welcoming culture, relaxed lifestyle and ability to own properties, she added.

On the other hand, MM2H Consultants Association president Anthony Liew said many of his clients lost interest in the programme after the mandatory property purchase requirement.

“Only 30% to 40% of the current MM2H holders would buy property in Malaysia,” he said.

While foreigners from China, Hong Kong and Korea are more willing to buy property, those from Japan and Western countries usually prefer to rent, he said.

He also hopes the ministry can clarify if applicants must purchase the property first or if they can buy later.

Checks by The Star on MM2H Facebook groups saw more discussions and interest in the programme after the announcement of the updated guidelines recently.

While the removal of the income requirement was welcomed, some expressed concerns about the mandatory property purchase and the 10-year holding period.

Nevertheless, there is a consistent interest in staying in Malaysia for its welcoming people, ease of communication (language) and good educational institutions.

An MM2H expat from China, George Yue, said he came to Malaysia with his wife in 2022. They had planned the move after falling in love with the country during their travels in the region.

“Locals speak Chinese and English, which was very convenient for us, and we could easily adapt to the food and climate here,” he said.

However, the new MM2H conditions may deter expats, as it no longer offers the flexibility of its predecessors, he cautioned.

“Now the pass is more rigid with the property purchase requirement and a 90-day minimum stay in the country.

“When I applied in 2019, a number of my friends were interested, but with these new guidelines, they have lost interest,” he said.

On June 14, Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing announced a new three-tier category for MM2H applicants – Platinum, Gold and Silver.

The Platinum category requires a fixed deposit of US$1mil, the Gold category US$500,000, and the Silver category US$150,000, along with a property purchase of at least RM600,000.


https://www.thestar.com.my/news/nat...in-mm2h-increasing-with-news-of-updated-rules

 

[Wanderer123]

Interest in MM2H increasing with news of updated rules​

PETALING JAYA: Agents for Malaysia My Second Home (MM2H) have seen an increase in interest in the programme with the majority coming from China after the new guidelines were announced.

MM2H consultant Tara Lim said majority of those who are interested are from China, but she is also seeing increasing interest from Taiwanese nationals.

“I have more than 70 interested applicants, and many agents around me also have around 40 to 50 potential applicants,” she said.

She added that there is also increasing interest from Singaporeans who are considering MM2H for retirement, as it is an attractive option due to cheaper living costs and a similar culture.

With the requirement of RM40,000 offshore income removed, more can apply as they don’t have to fulfil the income requirement,” Lim said.

“The changes to owning a property may deter some; however, those who own property in Malaysia will fulfil that requirement.”

Property ownership is still cheaper in Malaysia, which charges up to 4% stamp duty compared with Singapore’s 60% additional buyer’s stamp duty fees, she added.

She also said that compared to a similar programme in Thailand (Elite Thailand), Malaysia’s programme remains competitive.

“Elite Thailand requires at least 900,000 bhat (RM115,000) for five years in fees, which are not refundable, whereas under MM2H foreigners have a fixed deposit and property ownership that they still fully own,” she said.

Current hotspots for MM2H applicants are Kuala Lumpur and Penang with Johor also rising in popularity, she said.

Lim also clarified that those who came under the previous MM2H conditions are not subjected to the new rules.

“They should refer to the conditions as per their approval letter,” she said.

Jaime Chiew, managing director of an MM2H consultancy, also said she has noted a slight increase in interest after the announcement of the new guidelines.

“I have quite a number of interested parties wanting to apply for the programme, especially those who can meet the new requirements.

“But there are some who still find the requirements too strict,” she said.

The mandatory property purchase, especially the 10-year holding period, can be a significant financial commitment, she explained.

“It may be too early to determine how many will actually apply. We still need more details from the government for the application procedure and the approval duration,” she said.

Malaysia remains an attractive MM2H destination, especially with its lower cost of living, diverse and welcoming culture, relaxed lifestyle and ability to own properties, she added.

On the other hand, MM2H Consultants Association president Anthony Liew said many of his clients lost interest in the programme after the mandatory property purchase requirement.

“Only 30% to 40% of the current MM2H holders would buy property in Malaysia,” he said.

While foreigners from China, Hong Kong and Korea are more willing to buy property, those from Japan and Western countries usually prefer to rent, he said.

He also hopes the ministry can clarify if applicants must purchase the property first or if they can buy later.

Checks by The Star on MM2H Facebook groups saw more discussions and interest in the programme after the announcement of the updated guidelines recently.

While the removal of the income requirement was welcomed, some expressed concerns about the mandatory property purchase and the 10-year holding period.

Nevertheless, there is a consistent interest in staying in Malaysia for its welcoming people, ease of communication (language) and good educational institutions.

An MM2H expat from China, George Yue, said he came to Malaysia with his wife in 2022. They had planned the move after falling in love with the country during their travels in the region.

“Locals speak Chinese and English, which was very convenient for us, and we could easily adapt to the food and climate here,” he said.

However, the new MM2H conditions may deter expats, as it no longer offers the flexibility of its predecessors, he cautioned.

“Now the pass is more rigid with the property purchase requirement and a 90-day minimum stay in the country.

“When I applied in 2019, a number of my friends were interested, but with these new guidelines, they have lost interest,” he said.

On June 14, Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing announced a new three-tier category for MM2H applicants – Platinum, Gold and Silver.

The Platinum category requires a fixed deposit of US$1mil, the Gold category US$500,000, and the Silver category US$150,000, along with a property purchase of at least RM600,000.


https://www.thestar.com.my/news/nat...in-mm2h-increasing-with-news-of-updated-rules

What bs, thailand if u hit 50, just apply oa/o (2yr/1yr) retirement visa, I got 1st yr fee free for oa visa 3 yrs ago, just need to show u have sgd30k in sg bank can ler (dont need to transfer to thai bank), how is that more expensive than mm2h? Oh, u don't even need to buy property in Thailand ! What I foresee tho for mm2h is an increased exodus of middle income northern prc to msia. Some who are already based in Thailand might shift over to Msia as it appears to allow work and operating unrestricted types of businesses.

https://singapore.thaiembassy.org/en/page/non-immigrant-visa-o-a-long-stay

 

[skylink67]

While they still experimenting with their mm2h, most foreigners would have gone to other countries like Thailand to retire.

 

[yobyella]

While they still experimenting with their mm2h, most foreigners would have gone to other countries like Thailand to retire.

After GE review again.

 

[Wanderer123]

While they still experimenting with their mm2h, most foreigners would have gone to other countries like Thailand to retire.

Altho Thai retirement visa is much easier, many expats already there are quite unhappy about the recent tax laws on farangs where any income earned outside of Thailand will be taxed, regardless whether u are paying income tax to sg govt or not. My friend who has retired in Thailand for over 10 yrs couldn't sell away her beach villa, so forced to run bed n brekky until she can sell it away in the mean time. Her hubby got stolen by a Thai masseuse from Isan few yrs after they retired in Thailand. Msia milk u in a rather direct way, Thailand milk u in a very indirect way.

 

[gonewiththesmart]

New and improved MM2H: Platinum, gold, and silver categories introduced​

KUALA LUMPUR: Tourism, Arts, and Culture (Motac) Minister Datuk Seri Tiong King Sing today announced the relaxation of the Malaysia My Second Home (MM2H) programme, introducing three new categories.

The revision opens the MM2H programme to people aged 30 years and above, with applications to be processed exclusively through licensed MM2H agents authorised by the Tourism, Arts, and Culture Ministry under the Tourism Industry Act 1992.

The programme is now divided into three categories: Platinum, Gold, and Silver, each with its own set of requirements.


Here is the breakdown of the categories:

PLATINUM

In the Platinum category, MM2H applicants must meet specific financial prerequisites, including a fixed deposit of RM5 million (USD1.05 million).

Applicants can withdraw a maximum of 50 per cent of the amount after a year to purchase properties valued at RM1.5 million and above, for healthcare, and for tourism activities in the country.

Platinum applicants must reside in Malaysia for a cumulative total of at least 60 days a year.

For those aged 30 to 49 years old, their residence in the country must be fulfilled by their principal, partners, or their dependents respectively.

This category of MM2H applicants is also eligible to apply for Permanent Resident (PR) status after obtaining their Platinum pass.

GOLD

Gold MM2H applicants must adhere to the set financial prerequisites, including a fixed deposit of RM2 million (USD420,800).

They are also allowed to withdraw a maximum of 50 per cent of the amount after a year to purchase properties valued at RM750,000 and above, for healthcare, and for spending on tourism activities.

Gold MM2H pass holders must reside in Malaysia for at least a cumulative total of 60 days a year.

For individuals aged 30 to 49 years old, their residence in the country must be fulfilled by their principal, partners, or their dependents respectively.

The Gold MM2H pass is valid for 15 years, with Multiple Entry Visas (MEV) granted to the principal and dependents, and it can be renewed.

SILVER

Silver MM2H category applicants must have a fixed deposit of RM500,000 (USD105,000) as a financial prerequisite.

They can withdraw a maximum of 50 per cent of the amount after a year to purchase properties valued at RM750,000 and above, for healthcare, and for spending on tourism activities.

Silver MM2H pass holders must reside for at least a cumulative total of 60 days a year in Malaysia.

For individuals aged 30 to 49 years old, their residence in the country must be fulfilled by their principal, partners, or their dependents respectively.

The Silver MM2H pass is valid for five years, with Multiple Entry Visas (MEV) granted to the principal and dependents, and it can be renewed.

https://www.nst.com.my/news/nation/...latinum-gold-and-silver-categories-introduced

news say just application fee is RM 30k and above

 

[yobyella]

Altho Thai retirement visa is much easier, many expats already there are quite unhappy about the recent tax laws on farangs where any income earned outside of Thailand will be taxed, regardless whether u are paying income tax to sg govt or not. My friend who has retired in Thailand for over 10 yrs couldn't sell away her beach villa, so forced to run bed n brekky until she can sell it away in the mean time. Her hubby got stolen by a Thai masseuse from Isan few yrs after they retired in Thailand. Msia milk u in a rather direct way, Thailand milk u in a very indirect way.

Most countries will milk foreigners. Except....

 

[Wanderer123]

Most countries will milk foreigners. Except....

Except developed countries with welfare system, if u can afford, u won't have to worry about healthcare when old. An old aquaintance of mine retired in perth, hubby passed away, she is now senile and placed in a home, altho well taken care of, no relatives there, have kids tho.

 

[testerjp]

I read from the MM2H FB discussion.

The interest died almost totally.

Some were hopping that Sabah don't need to buy a property but they flipped the prata at last minute.
Yesterday it was revealed that only below 50yo needs, today all applicants must buy.

Looks like most dun bother with Malaysia anymore and should be going to Thailand with much easier options.

The Malaysia visa requires nearly USD300k upfront for a 5 to 10 years visa.
Why will anyone wanna do that?

The purchased property is worthless, you can at best sell at 1/3 the price you pay for, still needs to pay for its maintanance and levy when you sell it.

I think it's quite stupid to fall into it and serve no purpose.
Malaysia really think that their country is that great and irresistible?
Most people who consider Malaysia is because of the affordability.
There's no point paying a huge entrance fee to eat a cheap buffet.

PRC loves to buy properties, and they are not familiar with the Malaysia govt on how they flip, their Malay first policies and how they dislike Chinese. So let them go into it and expand the Chinese influence there, I don't care.

 

[Wanderer123]

I read from the MM2H FB discussion.

The interest died almost totally.

Some were hopping that Sabah don't need to buy a property but they flipped the prata at last minute.
Yesterday it was revealed that only below 50yo needs, today all applicants must buy.

Looks like most dun bother with Malaysia anymore and should be going to Thailand with much easier options.

The Malaysia visa requires nearly USD300k upfront for a 5 to 10 years visa.
Why will anyone wanna do that?

The purchased property is worthless, you can at best sell at 1/3 the price you pay for, still needs to pay for its maintanance and levy when you sell it.

I think it's quite stupid to fall into it and serve no purpose.
Malaysia really think that their country is that great and irresistible?
Most people who consider Malaysia is because of the affordability.
There's no point paying a huge entrance fee to eat a cheap buffet.

PRC loves to buy properties, and they are not familiar with the Malaysia govt on how they flip, their Malay first policies and how they dislike Chinese. So let them go into it and expand the Chinese influence there, I don't care.

Better still hor, all da tiongs in hwai khwang n Chiang mai migrate to bolehland, then I will happily hop over to thailand for my next 2mths of nomading.

 

[testerjp]

Better still hor, all da tiongs in hwai khwang n Chiang mai migrate to bolehland, then I will happily hop over to thailand for my next 2mths of nomading.

Thailand Digital nomad visa

US$270 every 180 days, up to 5 years
Total USD2700 / SGD3655

To apply for the visa, you must:

• Be at least 20;
• Have enough money to pay for the visa;
• Prove you have at least £10,687 in your bank account;
• Provide proof of employment with a registered company

The employment letter is super easy to settle, just get a company to write.
The problem is actually the tax, that could be tricky.

https://www.timeout.com/news/thaila...-digital-nomad-visa-heres-how-to-apply-061024

OR

Elite visa 5 years
900000 baht / SGD33k SGD


If i need to fork out nearly USD300k for the MM2H, i use that USD300kbuy Tbill probably can get SGD70k for five years with 3.5% interest.

More than enough to pay for the visa and a few years of lodging.


Also note that 2027 onward, Malaysia will also start to tax all foreign income.
So the Thai foreign tax issue will also surface in Malaysia.

Not to mention that Thailand is much cheaper than Malaysia.
Massage is like almost half the price, their food is decent and even cheaper imo.

Prices in Malaysia should also start to rise as their subsidies reduce. As usual, it will become the foreigners/Singapore/Chinese fault and you be seen as a parasite and and enemy of the state.


I read that Pinoyland is even easier, but i've zero interest in that country.

 

[Wanderer123]

Thailand Digital nomad visa

US$270 every 180 days, up to 5 years
Total USD2700 / SGD3655

To apply for the visa, you must:

• Be at least 20;
• Have enough money to pay for the visa;
• Prove you have at least £10,687 in your bank account;
• Provide proof of employment with a registered company

The employment letter is super easy to settle, just get a company to write.
The problem is actually the tax, that could be tricky.

https://www.timeout.com/news/thaila...-digital-nomad-visa-heres-how-to-apply-061024

OR

Elite visa 5 years
900000 baht / SGD33k SGD


If i need to fork out nearly USD300k for the MM2H, i use that USD300kbuy Tbill probably can get SGD70k for five years with 3.5% interest.

More than enough to pay for the visa and a few years of lodging.


Also note that 2027 onward, Malaysia will also start to tax all foreign income.
So the Thai foreign tax issue will also surface in Malaysia.

Not to mention that Thailand is much cheaper than Malaysia.
Massage is like almost half the price, their food is decent and even cheaper imo.

Prices in Malaysia should also start to rise as their subsidies reduce. As usual, it will become the foreigners/Singapore/Chinese fault and you be seen as a parasite and and enemy of the state.


I read that Pinoyland is even easier, but i've zero interest in that country.

Tbh hor, i got very bored of thai food after 1 yr, but of coz u can also get to eat international food there including hdl. I think maybe it was hard for me to get to know locals despite having attended thai class with skillsfuture, language barrier is perhaps something u need to overcome. So my preferred mode now is nomadic retirement, 3mths here, 3mths there, won't get too bored. Afterall, not sure how many more 3mths i've left before my body goes kaput.

 

[Coffeelix]

what's G&G?

First gate n security guard
is the main entrance to the development…

second gate and security guard is your own precinct…

Keep clear of strata title development like Eco Botanic if you are buying landed…

most local house either isn’t gated or No double gated n guarded…

In the whole of johor, only Leisure farm inner roads are genuinely private roads…

Public can’t enter without owners providing in advance your particulars to the main guard house …

All deliveries and contractors has been designated a special entrance as Leisure Farm has 2 entrances n exits

At other developments, public can enter the first gate n security guard totally without having to stop for checks…

 

[yobyella]

My relatives say they will only consider buying properties in Msia provided they are given PR status. Just like Spore.

MP sounds alarm over 90pct drop in MM2H applicants

https://m.malaysiakini.com/news/710329

 

[yobyella]

First gate n security guard
is the main entrance to the development…

second gate and security guard is your own precinct…

Keep clear of strata title development like Eco Botanic if you are buying landed…

most local house either isn’t gated or No double gated n guarded…

In the whole of johor, only Leisure farm inner roads are genuinely private roads…

Public can’t enter without owners providing in advance your particulars to the main guard house …

All deliveries and contractors has been designated a special entrance as Leisure Farm has 2 entrances n exits

At other developments, public can enter the first gate n security guard totally without having to stop for checks…

I think HH, Austin Heights do have 2 G&G security. One is for general main entrance. The other is for individual entrance.

 

[pattanispirit]

I read from the MM2H FB discussion.

The interest died almost totally.

Some were hopping that Sabah don't need to buy a property but they flipped the prata at last minute.
Yesterday it was revealed that only below 50yo needs, today all applicants must buy.

Looks like most dun bother with Malaysia anymore and should be going to Thailand with much easier options.

The Malaysia visa requires nearly USD300k upfront for a 5 to 10 years visa.
Why will anyone wanna do that?

The purchased property is worthless, you can at best sell at 1/3 the price you pay for, still needs to pay for its maintanance and levy when you sell it.

I think it's quite stupid to fall into it and serve no purpose.
Malaysia really think that their country is that great and irresistible?
Most people who consider Malaysia is because of the affordability.
There's no point paying a huge entrance fee to eat a cheap buffet.

PRC loves to buy properties, and they are not familiar with the Malaysia govt on how they flip, their Malay first policies and how they dislike Chinese. So let them go into it and expand the Chinese influence there, I don't care.

basically, MM2H is a scheme to clear the stock pile of excess ppty in Msia.

now, China ppl fear most is ppty investment after these few yrs, many China ppty developers gone bankrupt.

many China ppty investors left w 烂尾楼 unfinished ppty yet need to continue to service bank loan and unable to sell.

most ppl want to rent foreign ppty instead of buying.

in Msia, under RPGT for foreigners, even if u buy & hold the ppty for > 6 yrs, u still have to pay 10% RPGT when u sell or when u died, yr children inherit them.

in additional, every yr still have to pay ppty tax, land tax (quit rent) even u don't stay in Msia

 

[the_dog]

Most countries will milk foreigners. Except....

except the country inviting foreigners to come and help themselves

 

[Wanderer123]

basically, MM2H is a scheme to clear the stock pile of excess ppty in Msia.

now, China ppl fear most is ppty investment after these few yrs, many China ppty developers gone bankrupt.

many China ppty investors left w 烂尾楼 unfinished ppty yet need to continue to service bank loan and unable to sell.

most ppl want to rent foreign ppty instead of buying.

in Msia, under RPGT for foreigners, even if u buy & hold the ppty for > 6 yrs, u still have to pay 10% RPGT when u sell or when u died, yr children inherit them.

in additional, every yr still have to pay ppty tax, land tax (quit rent) even u don't stay in Msia

So after 10yrs, say u need to come back to sg from msia, u will need to pay 10% RPGT tax for any sales profits from your 1mil rm condo, that ish assuming got people wanna buy and u are making profits from the sale after 10yrs.