GreenState

"But there is a general thought that somehow MM2H is allowing in organised crime, drug lords, and assorted criminals"

I think this new change will actually exacerbate the problems, including money laundering from China.

smartcard

100% agree

StillSearching

Turkey
1. You may lose your large deposit to an attorney handling your case. There are many fraudsters there.
There is no transparency in the process.
The process is very difficult, long and expensive.
2. Wild fires, earthquakes, horrendous air pollution.
3. Corruption and political instability
4. No English is used in the government. Therefore you will always pay to a handler for any transaction.

SushiFan

I agree with you. Also for me would those SMM2H requirements not be a deal-breaker. But I would prefer to not live in Sarawak but in Penang. There is a risk that the Federal government finds a way to prevent SMM2H holders to actually live in other states than Sarawak.

ssoomro

Hey RA... are you moonlighting for Sarawak Tourism Dept now ? .. hahah. kidding ..

New changes definitely make S-MM2H very attractive .. even with the sponsor clause.. but I would be rightly concerned about for how long ? S-MM2H is definitely going to poach away most of potential applicants to peninsular version ... will that bring the federal govt 'intervention'... ....

Finally, to me one of the best value of MM2H (old school) was the 10 yrs Visa .. it allows for real planning about ur life . .vs. 1 yrs renewable visas etc.. and the flexibility of no time spent requirement allowed me to continue to work while getting my retirement sorted out. As i have said in past .. MM2H was one of the best options I saw .short of pathway to PR/Citizenship . .there was hardly any demerits to the program.. but all good things must pass too.. now there are three potential paths:
1: Hope the change of govt/politics etc lead to reversal/revocation of some of the draconian measures
2: Start looking elsewhere and secure an alternative .. (Phil has potential .. so does Indonesia .. minus all the social issues etc) ..Turkey is actually a very good option .. if you dont mind learning the language (which like malayu is quite easy to acquire) and yes there are some natural disasters.. but beautiful land and generally very nice ppl
3: Shutup .. and put up

oh yes there is a 4th option .. Buy your own Island ... but i am not looking into it .........yet

StillSearching

If there will be reversal/revocation of some of the measures soon this year, I would use it as an opportunity to stay here while trying to sell your property and get ready to leave the country. Malaysia lost credibility. It is too risky to plan for the future in this climate.

Maybe the best approach is never to buy a property and always to be ready to skip like a Bambi when conditions change to unfavorable.

I created a spreadsheet with our criteria for each country which offers PR or citizenship programs. Malaysia came at the top and it is why we are here.
Turkey, Philippines, and Indonesia have many-many problems, but it is wise for everyone always to evaluate pros and cons, which are different for everyone.

Strider24

Sarawak looks a good option. The application forms look straight forward and there is a list of approved agents I see. What would be interesting is to know if having an existing mm2h visa in The Peninsular is a help or hindrance to getting s-mm2h approval.
For us we love Sibu, which would be where we would want to move to.

Epicurious

I seem to remember reading somewhere that in order to apply for Sarawak or Sabah MM2H you first have to withdraw formally from the Peninsular MM2H scheme (and vice-versa). You can't hold more than one at once. But I could be wrong.

StillSearching

According to ExpatGo, "if you joined the MM2H programme in 2010 and placed RM150,000 into an FD, it would have cost you US$46,000 at those exchange rates (about 1:3.22). Today, that account would be worth roughly US$36,000, a loss of almost 25% of your investment."
Now calculate your loss for 1mil for your FD.
If you manage to invest 1mil or USD250,000 at 10%/year, you pocket 25K instead of giving it to Malaysia. It becomes a very expensive program. I don't see how it can be justifiable for anyone.

Penang:
- Flooding every year. Do you know that Penang is only 1 m above the sea level?
- A lot of industrial activities.
- Horrendous air pollution.

GreenState

FYI - Malaysia is taking the 2nd worst spot in Covid-19 resilience ranking

https://www.bloomberg.com/graphics/c...ience-ranking/

RedApe

New changes definitely make S-MM2H very attractive .. even with the sponsor clause.. but I would be rightly concerned about for how long ? S-MM2H is definitely going to poach away most of potential applicants to peninsular version ... will that bring the federal govt 'intervention'... ....[/QUOTE]

I've always thought Sarawak was great for ME...except for the sponsorship requirement (though not for the reason people think). But if I was a 40 something "Nomad Capitalist", or a 20 year old vagabond hipster...the MM2H might not be the best option. And there are people who don't like laid back places and need more conflict for stimulation (Kabul sounds exciting right now).

Or want to scuba. Create a business. Or engage in some girlie-tourism. Or maybe combine all-three!!!!

But Sarawak MM2H is not the best choice for those folk.

Yeah, a ten year visa without renewal would be ideal...actually if it was 20 even better. But we are now weighing actual alternatives.

Still waiting for my residuals from Sarawak Tourism. The Renegers

I suggest SMM2H as a stopgap alternative for those that need to renew and because they have property that they can't easily sell. Would it be in perpetuity? Would the "whatever Federal Government next Thursday" comes in find a way of slamming shut that back door...perhaps.

But so could the Philippines, Thailand, or any other country. I can only state from experience that there is less extremism, racial politicking (Pendatangism) and xenophobia in Sarawak than in Malaya.

The Sarawak Government would likely benefit purely from the people using local agents so likely wouldn't be too upset with people living in Malaya. After all they just wrote the rule requiring ONLY a fifteen day stay in Sarawak/year. They were well aware the "back-door". It would be the Federal Gov't that would try and shut it. That would require additional new rules, and possibly passport/MyKAD checks for domestic flights.

I suspect that they'll get many people who actually find Sarawak a pretty nice place and will live here. It's more like 1950's Hawaii...but with malls and internet....and without the US Navy, surfing, and volcanic beaches and not dirty Batu Feringghi beaches. Over time there may be enough of an expat scene to suit those who don't want to mix so much with the "natives" (though the "natives" are friendly, I've found). Or enough expats that one doesn't have to hang out with the ones that one doesn't find repulsive.

But would they (Sarawak) add provisions of somewhat higher fees down the road (maybe five years) for new applicants. I think that's possible... BUT they would also see the lesson of not grandfathering it, making it too onerous, for new applicants, etc. that the Ministers on the Peninsula failed to be concerned about. There is a tangible example of bad planning for them to look at. Personally if they want to get more people staying and spending more money the best way is to allow people to pull it from their FD's to rent, pay for local goods and services. That's money that stimulates the local economy and looks like a benefit for the MM2H'er.

ssoomro

Hi RA...


>>>I've always thought Sarawak was great for ME...except for the sponsorship requirement (though not for the reason people think). But if I was a 40 something "Nomad Capitalist", or a 20 year old vagabond hipster...the MM2H might not be the best option. And there are people who don't like laid back places and need more conflict for stimulation (Kabul sounds exciting right now). <<<
Sponsor thingy has always been a deal breaker for me .. cant trust anyone who will sponsor ME (A play on old Groucho Marx quote: I dont want to join a club.. that will have ME as a member) What about 50+ hipsters ? my latest hair brained idea is to buy a used van and convert it into live aboard .. trekking across peninsular and Borneo side of Malaysia .. (MCO and latest Govt bowl movement permitting ) ..P.S. no direct flight to Kabul available ..

<<<Or want to scuba. Create a business. Or engage in some girlie-tourism. Or maybe combine all-three!!!!>>> Ok you just lost me buster... (wont tell you on which one )

<<<Yeah, a ten year visa without renewal would be ideal...actually if it was 20 even better. But we are now weighing actual alternatives.>>> IMHO, ten yrs is plenty for one to make up his/her mind about remaining 10+yrs of life ..
<<< Still waiting for my residuals from Sarawak Tourism. The Renegers >>> be patient .. it will come.. its Malaysia after all....stuff here is ...flexible and time malleable.. u know better than to look for instant gratification here ....
Cheers,
S.

SushiFan

You may want to re-read my message. I was referring to the SMM2H program, not the new MM2H program.

I did see that remark about the USD/MYR exchange rate having lost 25% over the last ten years. However, the FD would have collected credit interest during that period, which would most likely be a higher % in MYR than in USD. So the loss would have been a bit less than the 25% indicated. Unfortunately do I not have the actual MYR FD interest rates for the last ten years to calculate how much the actual loss would have been.

Epicurious

New rules will drive out billions
A letter in The Star from the CEO of The Expat Group.

StillSearching

Government in West Malaysia knew all of these and they pushed their new regulations anyway in order to erode trust. This is an anti-foreigners strike. Sarawak is still part of Malaysia and it is a risk that they will not grandfather the contract one day as well.