MM2H so expensive
#1
Forum Regular
Thread Starter
Joined: Feb 2004
Location: stoke
Posts: 242
MM2H so expensive
Hi all why is the cost of the MM2H gone so high i have been to Malaysia many times but cant work out why they would want you to have more then double the local income each month and to keep that amount in a bank account which you cant touch ever seems strange
i want to retire to malaysia but how it is now I CANT AFFORD IT NOW OR WHEN I GET TO 65
firefox
i want to retire to malaysia but how it is now I CANT AFFORD IT NOW OR WHEN I GET TO 65
firefox
#2
Re: MM2H so expensive
I don't know the answer but why don't you send some feedback on the mm2h government website.
#3
Forum Regular
Joined: Sep 2010
Location: here, there and hopefully in Penang
Posts: 137
Re: MM2H so expensive
Perhaps MM2H is expensive because locals and govt think that all expats that choose to move over to Malaysia are rich.
They seem to forget that most of us want to move over here because it is affordable. Another reason could be the drive to make Malaysia a high income country. IMHO, it is a rather short sighted of the govt as this will create a division between the rich and the average joe blow.
They seem to forget that most of us want to move over here because it is affordable. Another reason could be the drive to make Malaysia a high income country. IMHO, it is a rather short sighted of the govt as this will create a division between the rich and the average joe blow.
#4
Forum Regular
Thread Starter
Joined: Feb 2004
Location: stoke
Posts: 242
Re: MM2H so expensive
Perhaps MM2H is expensive because locals and govt think that all expats that choose to move over to Malaysia are rich.
They seem to forget that most of us want to move over here because it is affordable. Another reason could be the drive to make Malaysia a high income country. IMHO, it is a rather short sighted of the govt as this will create a division between the rich and the average joe blow.
They seem to forget that most of us want to move over here because it is affordable. Another reason could be the drive to make Malaysia a high income country. IMHO, it is a rather short sighted of the govt as this will create a division between the rich and the average joe blow.
#5
Forum Regular
Joined: Sep 2010
Location: here, there and hopefully in Penang
Posts: 137
Re: MM2H so expensive
Having a spouse / partner who is Malaysian doesn't mean that it is easier for you to live in Malaysia contrary to popular belief. I was informed that the rules and regulations imposed by the govt is to deter applicants from poorer nations. Makes sense I guess.
#7
Forum Regular
Joined: Apr 2010
Posts: 32
Re: MM2H so expensive
It isn't so expensive when you think about it. Let's face it, as a single person you'll get a 10-year renewal visa and you have to deposit RM150,000 in a FD. You collect the interest tax-free, and if you decide to bog off you take the money with you.
RM150,000, that's about 30,000 quid. The average UK house price is about 165,000 quid depending on Halifax etc. So it's about 20% of this.
What other country gives 10-year, and renewable for the rest of your life, visas for less ? Panama, and a couple of others.
And you can withdraw RM50,000 to use towards property purchase, or medical bills etc.
What would you price the mm2h visa at, and if it's that low how to set a limit. The worldwide complaint from many countries is, "too many immigrants, even for 10 years ++."
RM150,000, that's about 30,000 quid. The average UK house price is about 165,000 quid depending on Halifax etc. So it's about 20% of this.
What other country gives 10-year, and renewable for the rest of your life, visas for less ? Panama, and a couple of others.
And you can withdraw RM50,000 to use towards property purchase, or medical bills etc.
What would you price the mm2h visa at, and if it's that low how to set a limit. The worldwide complaint from many countries is, "too many immigrants, even for 10 years ++."
Last edited by parker-waterman; Oct 19th 2010 at 3:22 pm.
#8
Forum Regular
Joined: Apr 2010
Posts: 32
Re: MM2H so expensive
as this will create a division between the rich and the average joe.
#9
Re: MM2H so expensive
It isn't so expensive when you think about it. Let's face it, as a single person you'll get a 10-year renewal visa and you have to deposit RM150,000 in a FD. You collect the interest tax-free, and if you decide to bog off you take the money with you.
RM150,000, that's about 30,000 quid. The average UK house price is about 165,000 quid depending on Halifax etc. So it's about 20% of this.
What other country gives 10-year, and renewable for the rest of your life, visas for less ? Panama, and a couple of others.
And you can withdraw RM50,000 to use towards property purchase, or medical bills etc.
What would you price the mm2h visa at, and if it's that low how to set a limit. The worldwide complaint from many countries is, "too many immigrants, even for 10 years ++."
RM150,000, that's about 30,000 quid. The average UK house price is about 165,000 quid depending on Halifax etc. So it's about 20% of this.
What other country gives 10-year, and renewable for the rest of your life, visas for less ? Panama, and a couple of others.
And you can withdraw RM50,000 to use towards property purchase, or medical bills etc.
What would you price the mm2h visa at, and if it's that low how to set a limit. The worldwide complaint from many countries is, "too many immigrants, even for 10 years ++."
#10
Forum Regular
Joined: Nov 2008
Location: SW Florida
Posts: 33
Re: MM2H so expensive
I think the deposit and income requirements are perfectly reasonable. What has gone too high is the minimum amount at which one can buy a residence, 500,000 RM...the previous 350,000 was high enough...
#11
Re: MM2H so expensive
Having said that, its been reported that there shortly will be major announcements regards foreign workers, visa's, PR etc and one can only hope that this will include more hours MM2H can work plus lower house entry back to the sensible M$250k.
#12
Forum Regular
Joined: Apr 2010
Posts: 32
Re: MM2H so expensive
The minimum property threshold used to be RM150,000.
Then it was raised to RM250,000.
Then it was raised, on the 1st Jan 2010, to RM500,000
This is the Federal Government setting a nationwide threshold.
However, land and property approvals are State matters. So each
State Government can decide on it's own levels.
From comments on forums such as my2home.info Penang has raised the threshold to the Federal level. But it seems to have made a distinction for mm2h visa holders and now allows mm2h purchases at/above the RM250,000 threshold.
Selangor decided not to raise it's threshold, for all foreigners, and simply kept it at RM250,000.
The threshold in Sarawak, according to the mudtour.sarawak.gov.my site is RM300,000.
The threshold in Pahang is/was RM750,000.
PW Cross
Then it was raised to RM250,000.
Then it was raised, on the 1st Jan 2010, to RM500,000
This is the Federal Government setting a nationwide threshold.
However, land and property approvals are State matters. So each
State Government can decide on it's own levels.
From comments on forums such as my2home.info Penang has raised the threshold to the Federal level. But it seems to have made a distinction for mm2h visa holders and now allows mm2h purchases at/above the RM250,000 threshold.
Selangor decided not to raise it's threshold, for all foreigners, and simply kept it at RM250,000.
The threshold in Sarawak, according to the mudtour.sarawak.gov.my site is RM300,000.
The threshold in Pahang is/was RM750,000.
PW Cross
Last edited by parker-waterman; Nov 4th 2010 at 3:50 pm. Reason: spelling
#13
Re: MM2H so expensive
The minimum property threshold used to be RM150,000.
Then it was raised to RM250,000.
Then it was raised, on the 1st Jan 2010, to RM500,000
This is the Federal Government setting a nationwide threshold.
However, land and property approvals are State matters. So each
State Government can decide on it's own levels.
From comments on forums such as my2home.info Penang has raised the threshold to the Federal level. But it seems to have made a distinction for mm2h visa holders and now allows mm2h purchases at/above the RM250,000 threshold.
Selangor decided not to raise it's threshold, for all foreigners, and simply kept it at RM250,000.
The threshold in Sarawak, according to the mudtour.sarawak.gov.my site is RM300,000.
The threshold in Pahang is/was RM750,000.
PW Cross
Then it was raised to RM250,000.
Then it was raised, on the 1st Jan 2010, to RM500,000
This is the Federal Government setting a nationwide threshold.
However, land and property approvals are State matters. So each
State Government can decide on it's own levels.
From comments on forums such as my2home.info Penang has raised the threshold to the Federal level. But it seems to have made a distinction for mm2h visa holders and now allows mm2h purchases at/above the RM250,000 threshold.
Selangor decided not to raise it's threshold, for all foreigners, and simply kept it at RM250,000.
The threshold in Sarawak, according to the mudtour.sarawak.gov.my site is RM300,000.
The threshold in Pahang is/was RM750,000.
PW Cross
Isn't Deepavali noisy (and why not)...no sleep tonight!!
#15
Re: MM2H so expensive
Flat yes, house dunno!. But remember as MM2H you need to buy 2, each no less than RM150k.
I bet there could be some shophouses around about that price within Penang state...not necessarily on the Island. A couple of shophouses side by side opened up inside could be very nice, while the repainted outside..a la Singapore Chinatown, would be great. Shop downstairs become garages and convert the old timber concertina doors into electric rollback.
I bet there could be some shophouses around about that price within Penang state...not necessarily on the Island. A couple of shophouses side by side opened up inside could be very nice, while the repainted outside..a la Singapore Chinatown, would be great. Shop downstairs become garages and convert the old timber concertina doors into electric rollback.