You are right about MY is stingy with issuing PR status to foreigners. As it is, getting PRship is terribly difficult. From what I can gather ... the Platinum status allows someone to apply for PRship, but it does not guarantee approval. Perhaps there is a change of heart by the authorities in granting more PRship, but with the large number of Chinese nationals on the current MM2H program, I doubt the government is all too keen to see more influx of Chinese into the country. It is one thing to have Chinese tourists and money from China/or greater China, it is another to have thousands of them having the right to live and work in Malaysia.
Also, isn't it true that even under the platinum tier, you don't really receive *permanent* residency, but rather *indefinite* residency for the term of the RM5 million deposit, i.e. that once you withdraw the deposit, your residency will be canceled?
I was approached by an agent this week who was selling PR. He said his agency was 40% government owned and they had given him 10 Permanent Residencies to sell, because it wasn't possible to get the MM2H yet. He was charging 250,000RM for the residency and 10,000 for his own fees. Per person. I assumed it was 100% a scam but did engage with him and eventually he dropped the price to 100,000 RM per person. We don't have the money to spend on this anyway, and I still assume its a scam....we pay him the money and he immediately disappears and we get nothing....but have you ever heard of this sort of thing before?
One step forward, two steps back? I feel sorry for the MM2H agents….the Government basically pulled the carpet below their feet. How are they supposed to survive? My own MM2H permit was still issued at the “old/original” terms and I assume the Government will extend this at the original terms and conditions.
So the cgt on property becomes irrevalent ? Any confirmation that existing mm2h can be renewed on existing terms and conditions ??? In writing or like before till a new pm like before is installed ??
Hopefully it would be. BUT, unlikely.....their brains are not capable to draw the line ( in terms of Year of date ) or at which year of previous MM2H holder would be exempted from the new rules
@@eckeck1996Could be, But, after the uproar from the last change from the existing MM2H holders especially 1) from those who bought property etc 2) those that married locals Along with the influence of the Sulton of Johore (now king) existing holders were grandfathered in.... One would think that common sense and logic would prevail as it did before. Time will tell....
Yes they do. The new terms only apply to the new applicants. We've got our new mm2h visa last year, few our friends did that recently, no issues, everything was as usual, straight forward.
Sabah M2H, spoken of by ministers in Feb & Oct 2023; then informed in Jan or Feb 24 will be rolled out at end of March 2024 and here we are in April ........
Of course you can. You're only restricted to work/do business in Malaysia. Having an offshore income and spending it in another country is always welcomed in most countries all around the world 😉
Mr Davison, you ignored the main point from the press conference of the tourism minister. Freedom of school choice coming back! Maybe not a factor for your clients, but for so many. Not being able to send kids to public school was an absolute killer of the program.
You don't have to deposit, you can invest the same amount in real estate and still get residency and their rental yield is above 5% for residential and airbnb yield is above 11%
@@arjunhar4866 Thank you. But, both need some work, we do not want that. Also, we must invest much higher amount for a house, right? If we could purchase a house for $50,000 to live in then we would apply.
@arjunhar4866, in case of Malaysia, as a foreigner, you'll gonna have to pay a tax 26% (a flat rate from rental income) + many other hidden fees...etc which makes an FD with around 3% interest not a bad option indeed.
Renewal for another 5 years if still interested. Anyway, you'll gonna have to wait at least 4.5 years to get a "clear" answer from the malaysian ministry if tourism/immigration regarding the terms and conditions... unfortunately, that's the downside of malaysia 😉
Oh each of those visa's does it give you the right to work ? I mean 105,000 US dollars is a lot to deposit if your over 60 and just want to retire there
@@TheTonyedwards1958 I stand by what I said. Generally speaking, under MM2H you can't work generally esp FT. There are digital nomad visa alternatives you know.
You don't have to deposit, you can invest the same amount in real estate and their rental yield is above 5% for residential and airbnb yield is above 11%
The MM2H Program is still void till now (mid May 2024). New opening is still pending till now. Do not be fooled by any current offerings as these are scam.
Andy, the Audio in this video is awful. Can you affort to buy a new micrpohone which clips to your shirt? Please see other YT Videos and you will get the idea.
The past treatment of MM2H holders is reason enough to never apply. We were at one point interested in 2020 then 🦠 The Malaysian Ringgit loss of value over the past 5 years is 12% against the Canadian dollar. The treatment of agents for MM2H says it all. Thats 3 good reasons to say no thanks. We will still spend time there and I hope Malaysia continues to allow tourists 90 days on arrival. The new 3 day notice of arrival requirement is annoying but not a deal breaker. But it makes us ask ourselves “what’s next?”
Thank you so much for the update Andy! i really appreciate you taking the time to info us!
Sound not clear sir😢😢
Thanks for the update!
Really Excited to Malaysia New MM2H Program 😍
Hello Andy, Has the issue of people 50 and over been resolved? How does this age group fit into the new scheme? Thank you.
You are right about MY is stingy with issuing PR status to foreigners. As it is, getting PRship is terribly difficult. From what I can gather ... the Platinum status allows someone to apply for PRship, but it does not guarantee approval. Perhaps there is a change of heart by the authorities in granting more PRship, but with the large number of Chinese nationals on the current MM2H program, I doubt the government is all too keen to see more influx of Chinese into the country. It is one thing to have Chinese tourists and money from China/or greater China, it is another to have thousands of them having the right to live and work in Malaysia.
Also, isn't it true that even under the platinum tier, you don't really receive *permanent* residency, but rather *indefinite* residency for the term of the RM5 million deposit, i.e. that once you withdraw the deposit, your residency will be canceled?
I was approached by an agent this week who was selling PR. He said his agency was 40% government owned and they had given him 10 Permanent Residencies to sell, because it wasn't possible to get the MM2H yet. He was charging 250,000RM for the residency and 10,000 for his own fees. Per person. I assumed it was 100% a scam but did engage with him and eventually he dropped the price to 100,000 RM per person. We don't have the money to spend on this anyway, and I still assume its a scam....we pay him the money and he immediately disappears and we get nothing....but have you ever heard of this sort of thing before?
DEFINITELY, A SCAM, DO NOT APPROACH. I REPEAT, DO NOT APPROACH.
How much did u pay him? ?
@@david888a Of course I didn't pay anything because it appeared to be an obvious scam
It scam
What a joke!
One step forward, two steps back?
I feel sorry for the MM2H agents….the Government basically pulled the carpet below their feet. How are they supposed to survive?
My own MM2H permit was still issued at the “old/original” terms and I assume the Government will extend this at the original terms and conditions.
So the cgt on property becomes irrevalent ? Any confirmation that existing mm2h can be renewed on existing terms and conditions ??? In writing or like before till a new pm like before is installed ??
Any idea if existing MM2H visas will be grandfathered to the original terms on expiry/renewal, or will the new FD’s be applied to them? Thanks Andy.
One would think the people on the old MM2H would be "grandfathered" in as it was before... If not, many may depart.
Hopefully it would be. BUT, unlikely.....their brains are not capable to draw the line ( in terms of Year of date ) or at which year of previous MM2H holder would be exempted from the new rules
Unlikely.. any future renewals on your MM2H programme will be renewed based on then prevalent terms and not the terms that you are previously on.
@@eckeck1996Could be, But, after the uproar from the last change from the existing MM2H holders especially
1) from those who bought property etc
2) those that married locals
Along with the influence of the Sulton of Johore (now king) existing holders were grandfathered in....
One would think that common sense and logic would prevail as it did before.
Time will tell....
Yes they do. The new terms only apply to the new applicants. We've got our new mm2h visa last year, few our friends did that recently, no issues, everything was as usual, straight forward.
Thanks for the update. Any news about renewals of existing MM2H holders?
its April any update from you Sir?
Really low-volume sound. Couldn't watch it for long (and I am keen). Please fix.
Indeed the mic is a bit far away. You may turn on the closed captions (the CC button in the top right corner)
turn up your hearing aid
all the programs specifically mention 'to age 39". what about age 50+?
Sabah M2H, spoken of by ministers in Feb & Oct 2023; then informed in Jan or Feb 24 will be rolled out at end of March 2024 and here we are in April ........
Next month
To quote Michael Corleone....."My offer is this.......NOTHING."
and I expect you to pay the gaming fee
Can you have a remote job from another country and have the MM2H program? So you can have the offshore income etc.
Of course you can. You're only restricted to work/do business in Malaysia. Having an offshore income and spending it in another country is always welcomed in most countries all around the world 😉
Any new update regarding MM2H, thank you
Mr Davison, you ignored the main point from the press conference of the tourism minister. Freedom of school choice coming back! Maybe not a factor for your clients, but for so many. Not being able to send kids to public school was an absolute killer of the program.
there are real reasons some countries are more successful than others !
Even the Silver category is expensive, very expensive since Malaysia Interest Rate is low - Like, loosing at least $5,000/year!
You don't have to deposit, you can invest the same amount in real estate and still get residency and their rental yield is above 5% for residential and airbnb yield is above 11%
@@arjunhar4866 Thank you. But, both need some work, we do not want that. Also, we must invest much higher amount for a house, right? If we could purchase a house for $50,000 to live in then we would apply.
@arjunhar4866, in case of Malaysia, as a foreigner, you'll gonna have to pay a tax 26% (a flat rate from rental income) + many other hidden fees...etc which makes an FD with around 3% interest not a bad option indeed.
Should make a special case for sgp retirees. Tap the sgp retirees market.
Philippines USD 10K FD...no minimum income..
I'm hoping for a retirement visa but this is good at least for 5 years 😊
let's wait the income requirements first...
@@carstensanonym7527when will it be announced
i am from india my age 54 want to shif from india with family please guide me on this
So what happens after 5 years if you get the silver package
we will have a definitive answer in 7 years
Renewal for another 5 years if still interested. Anyway, you'll gonna have to wait at least 4.5 years to get a "clear" answer from the malaysian ministry if tourism/immigration regarding the terms and conditions... unfortunately, that's the downside of malaysia 😉
Oh each of those visa's does it give you the right to work ? I mean 105,000 US dollars is a lot to deposit if your over 60 and just want to retire there
Generally speaking, the MM2H program is aimed at retirees. Yes, that is why I applied right before Covid. Back then, under $40K (150K ringgit).
@@vwchan841 it does not look like its is now
@@TheTonyedwards1958 I stand by what I said. Generally speaking, under MM2H you can't work generally esp FT. There are digital nomad visa alternatives you know.
MM2H is a social pass hence only with this, you cannot work. However, you can get work visa on top of MM2H and it is sponsored by the companies.
You don't have to deposit, you can invest the same amount in real estate and their rental yield is above 5% for residential and airbnb yield is above 11%
The MM2H Program is still void till now (mid May 2024). New opening is still pending till now. Do not be fooled by any current offerings as these are scam.
Andy, the Audio in this video is awful. Can you affort to buy a new micrpohone which clips to your shirt? Please see other YT Videos and you will get the idea.
Can I take a job or do business under MM2H or i rely only on my offshore income
Only on offshore income
Thanks for the info!
Please use Vaseline for your dry lips :)
No thank you. That's not it. The fiduciary requirement is nowhere near that.
The past treatment of MM2H holders is reason enough to never apply. We were at one point interested in 2020 then 🦠 The Malaysian Ringgit loss of value over the past 5 years is 12% against the Canadian dollar. The treatment of agents for MM2H says it all. Thats 3 good reasons to say no thanks. We will still spend time there and I hope Malaysia continues to allow tourists 90 days on arrival. The new 3 day notice of arrival requirement is annoying but not a deal breaker. But it makes us ask ourselves “what’s next?”