MALAYSIA: More Thoughts On MM2H | Memikirkan MM2H Lagi!

329 | The 'final' MM2H requirements have been announced and although I expect there will be a few tweaks to some of the smaller details, I think the big rocks are in the jar, so to speak. In this video I offer my comments on the revised visa program.
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[@tinglestingles]

Agreed, the price of admission had radically changed. Malaysia wants to attract a different clientele to its program. I suspect families with children is ideal. Malaysia is on the upward swing, a lot has happened since covid.

[@InternationalBigshot]

"Price of admission" That's a good way to look at it.

[@Yasin_Affandi]

So much has changed than the first MM2H. Hope that you have had a good time and a pleasant stay in KL.

[@InternationalBigshot]

Thank you.

[@Yasin_Affandi]

@@InternationalBigshot 😀

[@keangwooichoo6138]

Welcome back

[@InternationalBigshot]

Thanks!

[@Photojouralist123]

I’ve been on MM2H for the past 11 years just got renewed. It’s great but you gotta have dough bro! 😅plain and simple. Asians got the dough the Anglo world are broke.

[@nickloong]

If you're the type that can't sit still in one place for too long, then it's a no-brainer to just spend a couple of months at locations that pull your heart strings. Maybe do it on a rotation basis and according to season. You've both more flexibility and fewer commitments at the same time!😊

[@vwchan841]

I was fortunate enough to have a great agent who managed to reactivate my approved pre-covid app (6 mo finish up time lapsed due to lockout) so I am under the old mm2h rules. Despite that, I just bought a full seaview condo there as a gift to myself. I figure our nephews and nieces both from the US and Malaysia/Singapore can use it as a vacation home. And, get this, I managed to get a loan even though I am a foreigner. I figure why use my money and the interest rate is LOWER than what I can make here in the US. Not bad....

[@InternationalBigshot]

Congratulations!

[@fitxvzfitxvz703]

Malaysia no.10 safest countries in the world 2024 according global peace index.. our gov spent billion RM to give subsidies (petrol, healthcare,education and 47 products such oil, rice, flour,sugar..etc) to maintain low cost of living.. we need more money and welcome rich people.. if you think mm2h fee and conditions its expensive.. pls dont come in..

[@InternationalBigshot]

Unfortunately, using subsidies to reduce the cost of living is a mistake. In Malaysia's case a long-term mistake. There is no way the government can maintain these subsidies without serious damage to the economy. This is why the petrol and diesel subsidies are being 'rationalized'--a government term for 'eliminated'. The next subsidies to go will be those for sugar and rice. Your economy has been deliberately crippled by the idiotic AP system that only serves to enrich VIPs and political good boys.

[@fitxvzfitxvz703]

@@InternationalBigshot criticise our gov policy.. but want to apply mm2h.. haha thousand expat happy living in malaysia.. you can see on youtube as proof. If you complain about mm2h.. its mean you dont have money and dont deserve to live here..

[@antoinehomme606]

@@InternationalBigshot if subsiding the citizens of the country is a mistake for the economy... how is the economy going in the country you are from? good? cost of living affordable? then why look for other country to reside/retire?

[@VagabondJim65]

Set the A/C to Kill Mode...oh, that is Malaysia in a nutshell! Fry yourself with a walk to the mall; suffer frostbite when entering it.

[@tinglestingles]

With very senior investors in JB, something had to be done. Investors who are even higher and more mightier than 'The International Bigshot'. 😂

[@tg988]

Demographic MM2H applicants has shifted. There are 56,000 active pass holders from MM2H. China - 24,765 (44%) Australia - 9,265 South Korea - 4,940 Japan - 4,733 Bangladesh - 3,604 UK - 2,234 Taiwan - 1,000 US - 1,000 India - 1,000 Singapore - 1,000

[@yunytotoro7184]

Wow! What source to search, i also want to know

[@tg988]

@@yunytotoro7184 Google it - MM2H active participation. Announced by the minister of arts and tourism

[@InternationalBigshot]

The actual number of primary pass holders is under 30,000. The others are dependents like spouse and/or children.

[@burunghantu7680]

@@InternationalBigshot I doubt the numbers are real. Remember ...it's all a sales gimmick.

[@keangwooichoo6138]

Mm2h requires purchase of property

[@arrivedp]

I got grandfathered in before the new rules, great deal, I'm living a quality of life I could never have in America.

[@InternationalBigshot]

Congratulations!

[@TS-pq8km]

Good analysis.... The property overhang is very real. The condo market has been flat if not negative for the last five years and no sign of turning around. The final kicker is the ridiculous 40k agents fee for filing some paperwork prepared in the main by the applicant. Singapore, Johor and Garden city are in a category of their own. That might work but Malaysia will need to work very hard to gain the trust of Singaporeans. There's also the issue of taxation post 2026

[@InternationalBigshot]

Yeah, that fee is pretty high. And the 'participation fee' of RM200,000 for the platinum level! What is that even for?

[@VagabondJim65]

Stated fees I have seen are RM 8K per person. Fees above that must be for non program driven elements if I understand correctly. E.g., car pickups at airport, lodging, etc. I may be wrong. I do know for sure that a couple I met paid RM 16K for the two of them for a Sarawakian MM2H. They have been approved already. S-MM2H still works for he aspirational crowd if you can handle Sarawak (I can, easily!). $30K deposit, no purchase requirement, 90d/year in Sarawak all work for me. YMMV.

[@tg988]

@@InternationalBigshot Almost like a PR. Because giving PR outright in Malaysia is a taboo subject. Platinum, you can work, be employed and do business. Good for rich entrepreneurs who are into business and dealings. Malaysia invested a lot on facilities and infrastructure hence high processing fees. The true cheapest retirement programme will be S-MM2H (Sarawak / Sabah) and SEZ-JB not peninsular MM2H.

[@InternationalBigshot]

You cannot work with any level of the MM2H pass. Platinum allows "investment and business activities" but not work. You could run your business I suppose but you cannot work for yourself. Of course, to the average person this doesn't make any sense. You could apply for a work permit in addition to the MM2H, maybe.

[@VagabondJim65]

Updates: Started S-MM2h. RM9K + 8% tax for "authorized agent" $30K is wrong, sorry. RM 150,000 (interestingly. it's broken into a 60/90 split into 2 accounts - for easier drawdown if needed.) Pretty straight forward. Ping me if I can answer any questions.

[@paulsouthgate7373]

Nice video thanks and I agree with your thoughts of instead visiting for 90 days for free then going elsewhere rather than staying in Malaysia all the time. For the 90 days which type of accommodation do you target (ie budget hotels or Air BnB) to keep costs down?

[@InternationalBigshot]

Usually I look for Airbnb's. Longer term stays (30+ days) come with a discount.

[@keangwooichoo6138]

Mm2h is mostly for high nett worth individuals

[@Photojouralist123]

Like us

[@azharidris7092]

your Infor is wrong about forest city.. forest city was planned a long with the highspeed rail project.. the current sultan of Johore and also the current Agong has a big share in that city project worth 100 billion.. when the highspeed train project was cancel under Mahathir second term.. the forest city project came to a halt.. the Agong was in China for a state visit last week.. it looks like the highspeed rail is back on tract again.. so will the forest city project.. in fact its a bargain.. the Malaysian government has a policy of making sure there's an ample over supply.. it keeps the prices down.. so everybody can have a home.. unlike some countries i can name.. Malaysia is responding to president Xi quote.. home is for living and not for speculating.. no brainer.. for some funny reason the American is poking their nose in all these.. i do wonder why.. China bad.. China eat babies narrative just doesn't cut it anymore..

[@burunghantu7680]

We don't need more mainland Chinese here.

[@InternationalBigshot]

Forest City is too expensive for the average Malaysian. The entire scheme was conceived with foreign buyers in mind. It will take the high speed rail project to bail out Forest City because, without it, in addition to being too expensive for an average person to purchase, it's also somewhere that makes no sense to live. It's location is not desirable.

[@burunghantu7680]

@@azharidris7092 Let it rot

[@jihanjittu3125]

When your 3 months visa expired you can go to Singapore or Thailand for 1-2 day then return to Malaysia for another 3 months.

[@VagabondJim65]

US citizens can renew for an extension of a 2nd 90 days. For 180 total. Sarawak version om MM2H is still targeted for retirees. Rethink fixed deposit as a repatriation deposit. In 2002 my student visa to South Africa (sailing classes) required a USD $800 such deposit for a 6 period month. The targeting is indeed very stupid. Your are correct about the aspirations...

[@VagabondJim65]

"Immigration officials will place an entry stamp, known as a social visit pass (visa), in your passport authorizing a stay of up to 90 days.  Travelers may apply to the Malaysian Immigration Department for extensions, which may or may not be granted." travel.state.gov/content/travel/en/international-travel/International-Travel-Country-Information-Pages/Malaysia.html Because you should never trust me or any other individual online.

[@InternationalBigshot]

The only time I've heard of an extension to the social visit pass was during the pandemic. I didn't know about officially extending it.

[@irishque]

U dont think tht the requirements will be easier right

[@InternationalBigshot]

No. It would be hard to go back to something less restrictive, especially after they receive some applications under the current plan. As I noted in the video though, there may be small changes but nothing big. I would like to see an actual 'retirement' visa that makes sense for real retirees but I'm not holding my breath.

[@irishque]

@@InternationalBigshot the fact tht malaysia now is becoming more popular for expats not only wsterners but also chinese and japanese surely higher requirements will be imposed..but less restrictive in borneo maybe

[@flyinghedgehog3833]

Philippines ssrv us10k deposit... 10 yr visa.

[@teatree6228]

Plus hiv

[@saifolbahriahmatyaya2463]

Because off the subsidies, a lot of you guys outsider come here and living here, because Malaysian keep all things at cheap price because off subsidies. No subsidies in USA, that why a lot homeless there

[@InternationalBigshot]

I am not here because of the subsidies. Subsidies are a bad economic idea. If countries use them at all they should be small and short-lived. Malaysia is killing its economy with long lasting ones on numerous everyday items. Some have been in place for decades. But the government has a problem: They can't keep these subsidies because it is economic madness, but they can't get rid of them either because that would be political suicide. Either way the economy suffers. And when the economy suffers the rakyat suffers. The rakyat may enjoy the subsidies. Who wouldn't? But they are not sustainable and will eventually destroy what could otherwise be a booming economy.

[@YakobMalaya]

U have 500k usd u can save asb..dividen 8% next year 140k a year no more work..or unit trust

[@Exit-West]

The air-conditioning is brutal in South East Asia, they really take it seriously😂