Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)
Aug 3rd 2012, 3:39 pm
#33
BE Enthusiast
Joined: Jun 2007
Posts: 473
Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)
Hi bakedbean. As you can see, this thread is about the retirement visa, MM2H.
There's a thread about the new thresholds here
http://britishexpats.com/forum/showthread.php?t=763384
There's a thread about the new thresholds here
http://britishexpats.com/forum/showthread.php?t=763384
Aug 4th 2012, 2:17 am
#36
Just Joined
Joined: Aug 2012
Location: Melaka
Posts: 14
Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)
Don't be too sad Mrs BB because i only knew as i was in the process of buying here in Melaka. As i understand it Penang and JB are getting "hot" and with elections in mind drums are being rattled. I therefore doubt that the threshold will be raised throughout the country but on a state by state basis.
Aug 4th 2012, 8:01 am
#37
Just Joined
Joined: Aug 2012
Location: Melaka
Posts: 14
Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)
Rob
I just realised that I may have misled you. Whilst you can purchase a Malaysian car you cannot drive it to Singapore if you are Singaporean or a Singapore PR holder!
I just realised that I may have misled you. Whilst you can purchase a Malaysian car you cannot drive it to Singapore if you are Singaporean or a Singapore PR holder!
Aug 4th 2012, 8:42 am
#38
...............
Thread Starter
Joined: Feb 2009
Location: Far North Queensland
Posts: 17,625
Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)
Hi bakedbean. As you can see, this thread is about the retirement visa, MM2H.
There's a thread about the new thresholds here
http://britishexpats.com/forum/showthread.php?t=763384
There's a thread about the new thresholds here
http://britishexpats.com/forum/showthread.php?t=763384
Aug 4th 2012, 9:40 am
#39
BE Forum Addict
Joined: Apr 2005
Posts: 1,755
Aug 22nd 2012, 2:15 am
#40
Forum Regular
Joined: Aug 2012
Posts: 50
Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)
Seremban is a good option to stay for a quiet life. It's a 3 hour drive to Singapore or less than an hour to the Low Cost Terminal where you can get an Air Asia flight. For half a million, you can get a bungalow there.
Aug 30th 2012, 1:19 pm
#41
Just Joined
Joined: Aug 2012
Posts: 11
Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)
I am Malaysian from Melaka, I will try to answer your questions.
Okay, so there aren't any renovated shophouses in Georgetown which are less than a starting price of over 2,000,000MYR but there are quite a number of wrecks with potential at less, though still not cheap.
Q. Can anybody verify that these minimum limits are correct in practice?
- for a foreigner to buy property in Malaysia, the property price must be at least MYR 500,000. This is to control property bubbles. As before this rule, many Singaporeans came to buy properties, it makes the local can't afford to get a house.
Q. What, typically is the negotiating margin - downwards, obviously - in price?
- This is difficult to answer, but at the moment, properties are expensive in Malaysia.
Q. many properties are advertised as 'non Bumi' which I had explained to me as non traditional Malay, therefore less pitfalls in the buying process for whatever reasons?
- There are few major races in Malaysia : Malay, Chinese, Indian and others..Basically Bumi is referring to Malay. Therefore, you can't buy the Bumi units. You can only buy Non Bumi Units. But you don't need to worry, your lawyer will check for you then.
Thanks in advance, and any tips/warnings regards buying welcome.
Okay, so there aren't any renovated shophouses in Georgetown which are less than a starting price of over 2,000,000MYR but there are quite a number of wrecks with potential at less, though still not cheap.
Q. Can anybody verify that these minimum limits are correct in practice?
- for a foreigner to buy property in Malaysia, the property price must be at least MYR 500,000. This is to control property bubbles. As before this rule, many Singaporeans came to buy properties, it makes the local can't afford to get a house.
Q. What, typically is the negotiating margin - downwards, obviously - in price?
- This is difficult to answer, but at the moment, properties are expensive in Malaysia.
Q. many properties are advertised as 'non Bumi' which I had explained to me as non traditional Malay, therefore less pitfalls in the buying process for whatever reasons?
- There are few major races in Malaysia : Malay, Chinese, Indian and others..Basically Bumi is referring to Malay. Therefore, you can't buy the Bumi units. You can only buy Non Bumi Units. But you don't need to worry, your lawyer will check for you then.
Thanks in advance, and any tips/warnings regards buying welcome.
Last edited by kenle; Aug 30th 2012 at 2:01 pm.
Aug 30th 2012, 1:22 pm
#42
Just Joined
Joined: Aug 2012
Posts: 11
Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)
Melaka, Penang or Ipoh should be a better choice.
Aug 31st 2012, 1:10 pm
#43
...............
Thread Starter
Joined: Feb 2009
Location: Far North Queensland
Posts: 17,625
Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)
Hi Kenle, Babu was talking about Georgetown In Penang and the thresholds are different. Each state can overide the national minimum. In addition Penang State differentiates between Foreigners and MM2H Foreigners. Penang is the only State currently (as at Aug 2012) to do this. So the 500k for landed is not correct. Yes yes difficult to keep up I know.
In addition in Penang all foreigners must hold their property for 3 years. Starts from signing of S&P (sale and purchase contract).
Err for thresholds thread, see link that Babu put in previously. Cheers Babu
In addition in Penang all foreigners must hold their property for 3 years. Starts from signing of S&P (sale and purchase contract).
Err for thresholds thread, see link that Babu put in previously. Cheers Babu
Last edited by bakedbean; Aug 31st 2012 at 1:13 pm. Reason: oops wrong topic ;-)
Dec 15th 2012, 12:52 am
#44
Just Joined
Joined: Dec 2012
Location: Lancaster Batu ferringhi
Posts: 11
Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)
One has to view it as an investment. Back in UK the best ISA is around 2.5%
Maybank is very safe for me for last 15 years since I opened an account here.
You can do telegraphic transfers online from home country like UK.The only pain is getting the TAC for security purposes,and staying up in the middle of the night to do this in UK.
I made a good sum when the exchange went from 7RM to 5RM per pound GBP
If you can go for a premier account you will get at least 260RM=50GBP a month for the sum of 150.000RM Not a bad addition to my pension.
So think positive.
Dec 15th 2012, 2:13 am
#45
...............
Thread Starter
Joined: Feb 2009
Location: Far North Queensland
Posts: 17,625
Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)