Malaysia MM2H worth it? how to get started

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JonnyStekkino

New member
Hi, someone had experience with the malaysia second home program?
I'm resident in Dubai but I'm looking for a place where I can stay where I'm not in Dubai, and Malaysia looks interesting because it's cheap and offers this kind of programs. (before I were in Georgia but due to the current war situation, I prefer not to invest there)

Thanks in advance.
 

backpacker

Entrepreneur
Hi, someone had experience with the malaysia second home program?
I'm resident in Dubai but I'm looking for a place where I can stay where I'm not in Dubai, and Malaysia looks interesting because it's cheap and offers this kind of programs. (before I were in Georgia but due to the current war situation, I prefer not to invest there)

Thanks in advance.
The program has become very difficult and is no longer worth the effort -> Malaysia My Second Home MM2H Is Set to return

If you are eager to live in Southeast Asia and are >50 years of age, look into the SRRV (Special Resident Retirees Visa) program of the Philippines.
In case the age criteria does not work for you, look into the SIRV (Special Investor's Resident Visa) of the very same country.
Both SRRV and SRIV give you life-long permanent resident privileges. Look up the Philippine tax system and you will see that it can not get much better.
 

JonnyStekkino

New member
The program has become very difficult and is no longer worth the effort -> Malaysia My Second Home MM2H Is Set to return

If you are eager to live in Southeast Asia and are >50 years of age, look into the SRRV (Special Resident Retirees Visa) program of the Philippines.
In case the age criteria does not work for you, look into the SIRV (Special Investor's Resident Visa) of the very same country.
Both SRRV and SRIV give you life-long permanent resident privileges. Look up the Philippine tax system and you will see that it can not get much better.
The SRRV looks interesting, but it's not clear to me where the money will go.
I mean, i would love to invest, but I don't like gifting money to a country, If it's buying an apartment or just depositing some money in a bank, that would be great.
 

JackAlabama

Entrepreneur
The SRRV looks interesting, but it's not clear to me where the money will go.
I mean, i would love to invest, but I don't like gifting money to a country, If it's buying an apartment or just depositing some money in a bank, that would be great.
Its held in usd in special accounts. So way better than holding a banana republic currency like malaysia ringgit.
You deposit and forget, when you cancel you are supposed to get it back.
Before covaids it was 20k usd, but now maybe around 50k?
 

fshore

Entrepreneur
If you qualify for the 40000myr monthly income and have 1M myr to put in a Malaysian bank then it's not a bad deal. Keep in mind you also have to to stay minimum 3 months yearly, not sure what happens if you don't maybe difficulties with renewal (but then I assume you could just apply again..?).
Thai Elite cost more, so depends how you value that 1M myr, how much interest you'd get from it otherwise.
 

JackAlabama

Entrepreneur
If you qualify for the 40000myr monthly income and have 1M myr to put in a Malaysian bank then it's not a bad deal. Keep in mind you also have to to stay minimum 3 months yearly, not sure what happens if you don't maybe difficulties with renewal (but then I assume you could just apply again..?).
Thai Elite cost more, so depends how you value that 1M myr, how much interest you'd get from it otherwise.
It is a pretty bad deal. You need to hold their worthless currency and it is like 230k $.

Just a about 10% downwards move against usd (or some other investment opportunity) over the next 20 years pays for the Thai elite visa.
If op is 50+ he can get Thai retirement visa.
 

fshore

Entrepreneur
It is a pretty bad deal. You need to hold their worthless currency and it is like 230k $.

Just a about 10% downwards move against usd (or some other investment opportunity) over the next 20 years pays for the Thai elite visa.
If op is 50+ he can get Thai retirement visa.
Yes it's a currency risk, but it could also turn out better, if ringgit strengthen during the next 20 years. Also interest rates are higher than for usd.
 

backpacker

Entrepreneur
Its held in usd in special accounts. So way better than holding a banana republic currency like malaysia ringgit.
You deposit and forget, when you cancel you are supposed to get it back.
Before covaids it was 20k usd, but now maybe around 50k?
It depends on your individual circumstances: If you are a retiree with a pension from a government pension scheme of at least USD 800.-, the deposit required is USD 10'000.-.
If you are just above 50 years but do not get an official pension from a government scheme, the deposit required is USD 20'000.- (SRRV classic, most popular).
If you want to buy a condominium and use your SRRV deposit for this investment, the deposit required is USD 50'000.-. This is the most unattractive option because you can not buy just any condo and it also involves annual visitorial fees which are not worth it.

Tye best option is SRRV classic for USD 20'000.- . However, instead of depositing it with government owned DBP in escrow you better deposit with one.of the PRA-accredited banks like BDO, BPI, Bank of Commerce etc. in a normal time deposit. That way the money stays in your name. For opening you need a reference from PRA since in tye Philippines you can not open a bank account legally without being a resident.
Your SRRV deposit earns interest according to the banks short-term TD schedule.

The main thing which has changed recently is that the minimum age requirement for the SRRV has been raised to 50 years, which makes sense.
It is expected that conditions of the program will be tightened again after the current national elections and once a new government has positioned itself.

FIY Malaysia is going to tax foreign sourced income.

Philippines and Thai elite visa are probably better deals.
Read it carefully: It is these blanket and all-inclusive tax free schemes which brought Malaysia into the spotlight.
They can now close their MM2H program because not only the Terms & Conditions are unattractive. The new tax situation makes Malaysia a no-go zone compared to neighbouring Thailand and Singapore.
 
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369

Entrepreneur
Yes it's a currency risk, but it could also turn out better, if ringgit strengthen during the next 20 years. Also interest rates are higher than for usd.
any currency beside EURO is going to gain against USD once its lose its major role as sole world reserve currency dont get blended by USD belivers.
 

ecool

New member
I'm currently living in Malaysia for some years with MM2H but I got it before they did the last changes. Malaysia is great, summer all year, friendly people, nice food, fast internet, super cheap living, luxury condominiums, no tax on foreign-sourced income, etc. But now the new MM2H rules make it not worth it unless you have enough money to put 1M MYR into fix deposit for the rest of your life and not care about it.

The tax on foreign income brought into the country (please note the importance of bringing into the country, not brought to the country will be still tax-free), has been postponed until 2026 and as others say, it might never happen as there are many rich Chinese in Malaysia who complained to the government, that is why they postponed the new rule in the last minute and in 4 years, some exceptions might be added to help the rich guys who bring money to the country.
 

Runway

Active Member
look at Sarawak MM2H, or S-MM2H. Rules are similar to the old MM2H, you can live in west Malaysia with the only requirement to spend 15 days/year in Sarawak state.
 

backpacker

Entrepreneur
look at Sarawak MM2H, or S-MM2H. Rules are similar to the old MM2H, you can live in west Malaysia with the only requirement to spend 15 days/year in Sarawak state.
Well, I do not know which old rules you have in mind but the S-MM2H has quite tough conditions compared to the old MM2H:
I do not see how any of this can be attractive when compared to competing programs of other countries in Southeast Asia.
 

marzio

Mentor Group Gold
look at Sarawak MM2H, or S-MM2H. Rules are similar to the old MM2H, you can live in west Malaysia with the only requirement to spend 15 days/year in Sarawak state.

I've looked into S-MM2H and you can basically apply only if you are 50 years old.

There are 2 exceptions for those who are younger but requirements are tough to meet.

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I do not see how any of this can be attractive when compared to competing programs of other countries in Southeast Asia.

The only competing program i know is the Thai elite visa, are there any others worth mentioning?
 

backpacker

Entrepreneur
The only competing program i know is the Thai elite visa, are there any others worth mentioning?
Look into Special Resident Retiree's Visa (SRRV) and Special Investor's Resident Visa (SIRV) of the Philippines.

Also understand that Thai Elite does not grant you permanent residency. It is just a very expensive entry visa for extended tourist stay - a significant difference when it comes to immigration law.
In that sense you might be able to use Thai Elite to "live" in Thailand but it is not even close to legal permanent residency.
Btw, for Thailand itself you can also check the investor's route - it is available and not even that expensive if you do not mind some hiccups.
 

fshore

Entrepreneur
Look into Special Resident Retiree's Visa (SRRV) and Special Investor's Resident Visa (SIRV) of the Philippines.

Also understand that Thai Elite does not grant you permanent residency. It is just a very expensive entry visa for extended tourist stay - a significant difference when it comes to immigration law.
In that sense you might be able to use Thai Elite to "live" in Thailand but it is not even close to legal permanent residency.
Btw, for Thailand itself you can also check the investor's route - it is available and not even that expensive if you do not mind some hiccups.
MM2H is also not a permanent residency
 

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