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New MM2H "Guidelines" Released by MOTC

New MM2H "Guidelines" Released by MOTC

Old Jun 15th 2024, 4:36 am
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Default New MM2H "Guidelines" Released by MOTC

MOTC just released new MM2H participation guidelines, and they are pretty drastic and usual, here are some key changes:
  • Offshore income requirements for all categories aborted
  • It is compulsory to purchase and own a house, cannot sell the house for 10 years The value of the house that can be purchased varies based on the category of the participant, with minimum values ranging from at least RM600,000 to RM2 million.
  • Also introduced the special conditions of the MM2H Program for the country's new Special Financial Zones (even lower FD requirement than Silver Category)
  • MM2H operating companies may charge service charges to MM2H participants at a rate consistent with the stipulations under the Price Control and Anti-Profitability Act 2011 (Act 723) as followsa) RM70,000.00 for Platinum category MM2H participants;(b) RM55,000.00 for MM2H Gold category participants;(c) RM40,000.00 for MM2H Silver category participants; And (d) RM40,000.00 for MM2H participants in the Special Economic/ Financial Zone category.
Looks like new guidelines were drafted by real estate lobby hahhaha..

here the link to the announcement:

​​​​​​https://www.motac.gov.my/en/media/re...bW15MTZieXRlcw

the announcement is in Malay, but someone translated it in English .. I have attached the english version to this post.
Attached Files
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Old Jun 15th 2024, 4:27 pm
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Default Re: New MM2H "Guidelines" Released by MOTC

Thanks for the links. The Silver level doesn't make much sense to me. You only get a five year pass, but you have to buy a house that you can't sell for ten years. If renewal at year five is not taken or refused I guess you could say that you've left the programme so the sale prohibition is void, but good luck getting the proceeds out of the country! If buying and selling in Kl or Selangor there's a good chance you're going to have RM1M+ or RM2M+ respectively stuck in Malaysia.

Last edited by Epicurious; Jun 15th 2024 at 4:31 pm.
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Old Jun 16th 2024, 2:18 am
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Default Re: New MM2H "Guidelines" Released by MOTC

The agents are BIG winners too..the is an excerpt from a facebook post ..

"while most of you are talking about the new requirements, I want to point out that the agent fee will be ridiculous as well.
It will be 40k for silver and 55k for golden when applying. I talked to the agent i was keeping in touch with. He sounded like he hit a jackpot. I asked whether it’s the cap price and whether he will charge like we discussed before (12K). He avoided question and said he will provide “better service” with higher price.
Also, there will be renewal fee (3000RM per person) + renewal agent fee, which could be another few K. (You have to renewal through the agent, it’s also the new requirement)
That’s not the end, the renewal is not “just” every 5 years. It also depends on your visa validity. Let’s say your visa will expire in 2 years. It means one around of agent + renewal fee already.
Now think about you come with your family and everyone usually has difference passport expiration date…
That’s my understanding after interacting with one quite established agent. Anyone who has more information. Please chip in."
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Old Jun 16th 2024, 12:46 pm
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Default Re: New MM2H "Guidelines" Released by MOTC

ssoomro Could you provide a link to that Facebook post? I'd like to read more reactions.
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Old Jun 17th 2024, 3:32 am
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Default Re: New MM2H "Guidelines" Released by MOTC

Originally Posted by Epicurious
ssoomro Could you provide a link to that Facebook post? I'd like to read more reactions.
here is the link to Facebook group.. its pretty active:

https://www.facebook.com/share/v1LDptXWisAs8rKZ/
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Old Jun 17th 2024, 3:18 pm
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Default Re: New MM2H "Guidelines" Released by MOTC

Originally Posted by ssoomro
here is the link to Facebook group.. its pretty active:

https://www.facebook.com/share/v1LDptXWisAs8rKZ/
That's a useful, very active group. No wonder this forum is almost dead!
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Old Jun 17th 2024, 3:47 pm
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Default Re: New MM2H "Guidelines" Released by MOTC

Thanks SSOOMRO. I have another 3 years left on my MM2H. I'm still on the fence if I'll be renewing. After the last Changes, I've lost a lot of trust in the Gov't.

I'm currently on a sabbatical in the Land of Smiles. Just covering all bases.
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Old Jun 18th 2024, 1:22 am
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Default Re: New MM2H "Guidelines" Released by MOTC

Originally Posted by WiredTight
Thanks SSOOMRO. I have another 3 years left on my MM2H. I'm still on the fence if I'll be renewing. After the last Changes, I've lost a lot of trust in the Gov't.

I'm currently on a sabbatical in the Land of Smiles. Just covering all bases.
Thanks Wired.. I am in similar position, i will not renew if the 'buying house' is a hard requirement. Word on the street is that for Silver level it may not be.

Having roamed around south east asia extensively over the last 10 years or so, i am convinced that Malaysia is the best option from many reasons.. but I too may have to pick another place to dock the boat ;(
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Old Jun 18th 2024, 8:59 am
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Default Re: New MM2H "Guidelines" Released by MOTC

well.. the cat is out of the bag.....officially:

https://www.expatgo.com/my/2024/06/1...1evuuGMXUGBlMg
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