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Peninsular MM2H reactivated from October, new conditions

Peninsular MM2H reactivated from October, new conditions

Old Sep 20th 2021, 11:47 pm
  #166  
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Default Re: Peninsular MM2H reactivated from October, new conditions

Originally Posted by RedApe View Post
In another statement the Home Minister actually accused other countries of "Dumping" their unwanted citizen into Malaysia using the MM2H. On the one hand he camplains about MM2H NOT living here, and staying in their home countries, on the other he complains that they aren't wanted in their home country and COME to live in Malaysia? Does anyone know of a single country that is paying for some hobo's airfare, bond, Fixed Deposit, Insurance and doctoring up their financial and police records just to get them out of the country? What evidence is there of that? What country? This sounds like the Home Minister still has his "S.uspected H.ippie I.n T.ransit" rubber stamp at the ready. "Those hippie bums...they may have gone bald and wear nicer clothes but they are still out there...wascally rabbits."
We wish some common wisdom in elected gov officials. There are plenty of examples that actually they are the main reason of all the troubles in the countries.
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Old Sep 21st 2021, 2:10 am
  #167  
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Default Re: Peninsular MM2H reactivated from October, new conditions

Malaysiakini: YOURSAY | MM2H fiasco – govt cuts off nose to spite its face
Sun: Hamzah is like a trader who thinks that by raising his price he can raise his revenue.That will only be if as Economics 101 teaches, your demand is inelastic. In simpler terms, the goods you sell (residency in Malaysia) must have no other substitutes. But since Singapore, Sri Lanka and Thailand are effective substitutes, the demand for your product will be elastic.

In layman's terms, this means if you raise the price of your product, your revenue will fall more than proportionately than your price increase. So a 10 percent price increase, for example, will lead to a more than 10 percent decline in revenue.

Instead of helping Malaysia, Hamzah and his "boys" would have done irreparable damage. Surely someone in his ministry must have done high school economics to help him understand this.
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Old Sep 21st 2021, 8:29 am
  #168  
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Default Re: Peninsular MM2H reactivated from October, new conditions

Hannah Yeoh rejects Putrajaya’s ‘security threat’ rationale for MM2H revamp
KUALA LUMPUR, Sept 21 — The Home Ministry has not justified its review of the Malaysia My Second Home (MM2H) scheme, said DAP lawmaker Hannah Yeoh.Yeoh said there was no data to show that the participants were “security threats” as Home Minister Datuk Seri Hamzah Zainuddin asserted in Parliament.

She also said the ministry should not penalise all MM2H participants over its claim that some were involved in crime.

“So, I want the home minister to tell everybody: out of all your applicants, how many of them in the last five years have been involved with crime in Malaysia and any charges made, because these are not secrets and are known to all ministries.

“So, take action on those cases but don’t generalise the entire programme,” she said during a joint press conference with Malaysia My Second Home Consultants Association (MM2HCA) and several MM2H representatives.

Balik Pulau MP Muhammad Bakhtiar Wan Chik, who was also present, suggested that the scheme be transferred back to the Ministry of Tourism, Arts and Culture (Motac).

The former deputy tourism minister said Malaysia could not afford to have foreign investors chased away by the new conditions of the scheme.
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Old Sep 22nd 2021, 1:05 am
  #169  
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Default Re: Peninsular MM2H reactivated from October, new conditions

It is amazing to me that some people still think that these regulations were done in order to increase the revenue. You know that they consulted the economists who told them not to change the requirements...
The gov officials have financial data on the applicants and they know what 90% (or more) applicants can't afford.

Last edited by StillSearching; Sep 22nd 2021 at 1:25 am.
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Old Sep 22nd 2021, 1:38 am
  #170  
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Default Re: Peninsular MM2H reactivated from October, new conditions

And again, why people can't see the obvious that the only goal for these requirements is to chase foreigners out of country?
Not crime committed by some "disgusting" foreigners.
Not to attract richer foreigners who might become "disgusting" as well.
Current MM2H-ers are not Muslim and they may spread their progressive views here. If the leaders are not progressive, they don't want us foreigners.
Maybe they will back off under the public pressure, but the damage is done already.
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Old Sep 22nd 2021, 2:30 am
  #171  
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Default Re: Peninsular MM2H reactivated from October, new conditions

New MM2H terms will cause great exodus, survey shows
Malaysia My Second Home Consultants Association (MM2HCA) president Anthony Liew told a press conference today that surveys conducted with TEG media and the Japan Club of Kuala Lumpur (JCKL) found that most MM2H participants do not meet the new RM40,000 offshore income requirement.In a TEG Media survey with 925 respondents (mostly from Western countries), only 21% of them reported being able to meet the minimum offshore income requirement, while 44% would be able to meet the minimum RM1 million fixed deposit requirement.

Only about 2.26% of respondents said they could meet both the new conditions.

Meanwhile, a survey with 799 Japanese retirees said that over 90% of them do not have the minimum RM40,000 in monthly offshore income required.

Another survey involving 686 MM2H pass holders found that 55% of existing participants plan to pull out from the programme if the new terms come into force, with 497 of them saying they would opt to move to Thailand.
This is probably good news for Hamzah.
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Old Sep 22nd 2021, 5:20 am
  #172  
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Default Re: Peninsular MM2H reactivated from October, new conditions

"...44% would be able to meet the minimum RM1 million fixed deposit requirement."

Even if you meet this requirement, wouldn't be that crazy to put this amount in an FD here and lose maybe 50% due to RM devaluation over 10 years instead of generating at least 10% income on this money?
Evidently many foreigners consider even current FD is too much. E.g., go to Philippines and you can extend your visa up to 36 months and then do the boarder run afterwards. No FD.

Last edited by StillSearching; Sep 22nd 2021 at 6:25 am.
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Old Sep 22nd 2021, 5:40 am
  #173  
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Default Re: Peninsular MM2H reactivated from October, new conditions

Originally Posted by StillSearching View Post
We wish some common wisdom in elected gov officials. There are plenty of examples that actually they are the main reason of all the troubles in the countries.
Was it not Belgium that managed without politicians ruining things for 12 months+, basically the civil service ran the country successfully without the oversight.
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Old Sep 23rd 2021, 6:33 am
  #174  
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Default Re: Peninsular MM2H reactivated from October, new conditions

Perhaps some expats in Malaysia will be relieved to move out of here. Beside many pros and cons on staying in Malaysia, the biggest for me is air pollution.
If you are a retiree, why would you go to live in a place with the same bad pollution as in your country of origin or even worse? It doesn't make sense to stay here and ruin your health. Malaysia is not talking about global warming and horrendously polluted air on the roads because of the vehicles they prefer, diesel powered equipment and open burning. They seriously don't care about it. This will get worse.
Is it a good choice to move to Malaysia?

https://m.dw.com/en/who-air-pollutio...ear/a-59264198
- "Air pollution is on a par with smoking and an unhealthy diet."

I prefer never to get on the road here because of air pollution. This is why I use deliveries from stores and I live away from the city.

Last edited by StillSearching; Sep 23rd 2021 at 6:43 am.
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Old Sep 23rd 2021, 9:53 am
  #175  
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Default Re: Peninsular MM2H reactivated from October, new conditions

What? Quick check, Kota Kinabalu is even more fine that most places on the peninsular: https://aqicn.org/city/malaysia/sabah/kota-kinabalu/

Air Quality in Malaysia is only a problem when the Indos burn down Sumatra (or in your case their side of Borneo).

Yes it was absolutely horrible in autumn 2015 and quite horrible autumn 2019, but most of the time this is not really a problem if you not choose to live very close to traffic or a factory.
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Old Sep 23rd 2021, 9:57 am
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Default Re: Peninsular MM2H reactivated from October, new conditions

Originally Posted by StillSearching View Post
Even if you meet this requirement, wouldn't be that crazy to put this amount in an FD here and lose maybe 50% due to RM devaluation over 10 years instead of generating at least 10% income on this money? Evidently many foreigners consider even current FD is too much. E.g., go to Philippines and you can extend your visa up to 36 months and then do the boarder run afterwards. No FD.
The problem is not the amount of the FD but unserious banks that refuse MM2Hers the FD rate offers because they know they cannot move around their money. That you are locked with one bank which you have chosen when applying MM2H is really a big pain.
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Old Sep 24th 2021, 1:31 am
  #177  
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Default Re: Peninsular MM2H reactivated from October, new conditions

Originally Posted by eCdD View Post
The problem is not the amount of the FD but unserious banks that refuse MM2Hers the FD rate offers because they know they cannot move around their money. That you are locked with one bank which you have chosen when applying MM2H is really a big pain.
Can you find an FD with a rate 10%+ and your money is kept in USD$?
E.g. your FD in Turkey is kept in Turkish banks in USD for 5 years and than you get a PR without strings attached.
Malaysian deal with an FD requirement is a loosing money deal. Malaysian ringgit is losing its value.
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Old Sep 24th 2021, 1:55 am
  #178  
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Default Re: Peninsular MM2H reactivated from October, new conditions

Originally Posted by eCdD View Post
...Kota Kinabalu is even more fine that most places on the peninsular...
Air Quality in Malaysia is only a problem when the Indos burn down Sumatra (or in your case their side of Borneo).
Yes it was absolutely horrible in autumn 2015 and quite horrible autumn 2019, but most of the time this is not really a problem if you not choose to live very close to traffic or a factory.
Yes, air quality in KK is much better so far than in many other parts of Malaysia. Kudat in Sabah would be even much better, but it is too far from everything. We lived not in a very busy area in KK and vehicle exhaust smell is significant. We then moved to a suburban area 35 min north from the city.
Urban planning in KK is horrible. The city is not designed for pedestrians or to handle growing traffic. Buildings are built tightly, without green zones in between. Concrete is practically covering 90% of the land and it is why it is significantly hotter there and where we live now.

Open air burning is an every day issue absolutely everywhere here. Many people just burn their trash and garden clippings or there is agricultural burning. It is upsetting because these offenders are ruining everybody's health.
I don't know where these AQ sensors are and how many of them, but the readings may not be very accurate.
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Old Sep 25th 2021, 3:17 am
  #179  
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Default Re: Peninsular MM2H reactivated from October, new conditions

He's not for turning: Hamzah defends new MM2H rules amid royal objections
Home Minister Hamzah Zainudin has defended the newer, more stringent rules for the Malaysia My Second Home (MM2H) programme.He said the new rules, which will only apply to new applicants, were fair and good for the country and the people's future.

He was speaking at a press conference today when asked to respond to Johor's Sultan Ibrahim...
93 comments at the time of this posting. Just one of them (not from me):
When the revised rates were first announced, the drastic increases were justified on the grounds of “local “concerns” about foreign citizens”. Anyone who has been living here long enough would recognize this to be Malaysiaspeak for a certain community’s opposition to anything involving non-Muslims. Foreigners under MM2H apparently number around 54,000; it would be interesting to find out how many are from the decadent West and how many from havens of purity like Indonesia, Bangladesh, or Saudi Arabia.

54,000 is an alarming number? It is very telling that the locals do not seem too unhappy about the Indonesian millions perching in our country.

The only hike that Hamzah Zainuddin could defend was the yearly visa fees after 25 years going upwards from RM90 to RM500. This may be acceptable. But all the other increases? As usual, others are at fault and KPMG would gladly do anything to regain lost favour.

Hamzah Zainuddin is a dangerous politician. If left unchecked, he might end up worse than Mahathir Mohamad.
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Old Sep 25th 2021, 4:25 am
  #180  
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Default Re: Peninsular MM2H reactivated from October, new conditions

I believe it may have been raised but even if renewal conditions are relaxed there remains the issue of death of the visa holding spouse. In the past this has required a new visa application by the surviving spouse. Clumsy but doable. If however it has to be done under the "new rules" ??
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