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spellraj wrote:

Hello All.  I had applied for my MM2H last May and finally got my MM2H approval come couple of weeks ago. We are planning to visit kl in april to get the final paper work done. We are planning to stay for a week for the paperwork and also to check out apartments for rent. Do you think I have enough time for that? Also for the paperwork like getting medical checkup, security bond, deposit in the bank, should I get an agent or should do it myself as time is of essence. Please guide. If I should use an agent, anyone know of a good agent who can help.

  Thanks a lot

agent can assist u

iskandarhack wrote:

That's the problem with the program as it is now, I'm not sure how many people are going to tie up RM500K into a fixed interest account. I find it somewhat ironic that the minimum liquid money on hand is RM600K, and you're asked to put RM500K of it into a fixed account for at least a year (you can take half out after a year, but the rest remands there until you leave the program).

I'm not using the program, but not sure if I'd want to tie up 20-25% of nest egg into something like this.

Indeed, all of my previous, verbose, off-topic and emotional tirades, re: the MM2H program, have managed to remain posted on the forum, and much to my own public embarrassment, I might add.

However, my one "on-topic", logical comment covering the exact same (nearly verbatim) issue, as you've now posted, was promptly deleted, for some unfathomable reason.

Anyway, our take is that the MM2H program really does cater to the wealthiest of foreign expats (the racial preference stipulations, not withstanding).

You also alluded to the folly of tieing-up RM500K in a "fixed" interest account (we definitely agree). So, just for purposes of caching accurate data (for future reference), can you provide the exact percentage (%) figure of that fixed interest rate deposit account? We were previously under the impression that the deposit amount was kept in a 0% interest-bearing escrow account, instead. RSVP.

abdulkhalil wrote:

Well, thousands of people have chosen MM2H, including me in the past. But my own viewpoint has changed since living there for so long. And I pretty much agree with what you say as far as the negative things. That's why I no longer live there and why you also see that Malaysia isn't all that attractive

I personally feel that I made a very smart move in cancelling my MM2H and leaving Malaysia.

can you tell me about the negative things for mm2h users?

kslau85 wrote:

http://www.mm2h.gov.my/index.php/en/

Ditto! Confirmed,Indeed, and thank you for validating our spot-on predisposition, re: the misnomer, referred to as such,...........is the "Friendly" Malaysia

kRUBEN wrote:

...is the "Friendly" Malaysia

What do you find unfriendly about Malaysia?

immo2014 wrote:

abdulkhalil wrote:

Well, thousands of people have chosen MM2H, including me in the past. But my own viewpoint has changed since living there for so long. And I pretty much agree with what you say as far as the negative things. That's why I no longer live there and why you also see that Malaysia isn't all that attractive

I personally feel that I made a very smart move in cancelling my MM2H and leaving Malaysia.

can you tell me about the negative things for mm2h users?

As far as MM2H users goes, there isn't really any negative except for locking up money in a fixed deposit, something that I did not need to do in Indonesia.

The negatives refers more to living in Malaysia and includes the ever increasing minimum limit for buying houses or apartments, the high price of international schools, the increasing cost of living, the GST which is going to be increased, bad taxi drivers and the low quality of standard taxis, the sometimes unfriendliness of certain locals, racism against non-Malays, the feeling that people are trying to take advantage of you, lots of "tricky" people, the lack of interesting culture and places of beauty to visit. But most importantly is that I just started to get bored as it is becoming too westernized. In fact, when people wanted to visit me in KL, I suggested that they might find Indonesia, Thailand and Vietnam far more interesting.

However, there are also many positives: great food, good infrastructure, airline tickets are much cheaper from KL than from Indonesia, great shopping, easy to move there and to live, good transportation etc. And for MM2H, buying a tax free car is great, and also not having to queue at immigration at KLIA (although you will need to queue at KLIA2). Also for MM2H, if you invest more than a million ringgit in a house then the fixed deposit requirement is considerably reduced unless that regulation has changed.

So in my opinion, if you want to experience living in an Asian country where everyone speaks English and it is easy to get by and where you get most western comforts, great food and shopping, then Malaysia is a good choice.

But if you have an adventurous spirit, and want to live in a country that is less developed, interesting and great for exploring with lots of beautiful natural scenery and a strong feeling of culture and where few people speak English, then places like Thailand, Indonesia and Vietnam are a better choice. Again, just my opinion.

abdulkhalil wrote:

As far as MM2H users goes, there isn't really any negative except for locking up money in a fixed deposit, something that I did not need to do in Indonesia.

......, I suggested that they might find Indonesia, Thailand and Vietnam far more interesting.



But if you have an adventurous spirit, and want to live in a country that is less developed, interesting and great for exploring with lots of beautiful natural scenery and a strong feeling of culture and where few people speak English, then places like Thailand, Indonesia and Vietnam are a better choice. Again, just my opinion.

An accurate one.
Malaysia is going to cost more but it's an easy country to live in because western food is common, bars are all over the place and a lot of people speak English. A first time tourist or someone looking to relocate will find Malaysia ideal.
The more adventurous should consider other places. Bali isn't my cup,of tea but a lot like it, same goes for Thailand.
Central Java is my personal favourite but that requires a little spirit so it isn't going to suit everyone.

mahabubh3 wrote:

I've two question about MM2H-
1.Applicant's get 2% interest from their FD, is it monthly?
2.Applicant's children below 21yrs can study in Malaysia free of cost?
Wish someones best & cordial answer.
thanks in advance.

The 2% would be annual and not monthly, but that is a particularly low rate.

It is important to shop around with several banks to find out which one offers the best interest rates. For example, Ambank will currently earn you 3% for a 3 month term deposit and 3.4% for a 48 month period. So I would recommend checking with Ambank, Maybank, Public Bank, HSBC, and a few others and you easily check these online. Check the terms and conditions too. If you place more than RM200k in a fixed deposit account then you may qualify to become a Privelage or Premier or Priority customer and you will get a personal Account Manager that will always try to get the best rates and deals for you and sometimes that includes a preferential rate. I whatsapp with mine all the time.

In addition to this, some banks have special offers for "fresh funds". That means opening a fixed deposit in a bank where you do not already have an account. Different banks tend to do this now and again and can sometimes offer as much as 5% for a 3 month fixed term deposit. So it is also worth asking about special offers.

If you plan to deposit more than the RM500k or whatever the amount required is, then open one FD for the MM2H for a long term, and several others in smaller quantities such RM10k or RM50k or RM100k for say 3 months of 6 month rollover (auto-renewing). The rate for these smaller ones will be slightly lower but for the flexibility they offer it is worth it.

mahabubh3 wrote:

I've two question about MM2H-
1.Applicant's get 2% interest from their FD, is it monthly?
2.Applicant's children below 21yrs can study in Malaysia free of cost?
Wish someones best & cordial answer.
thanks in advance.

1. Most of the bank give 3%+ annual interest.
2. There is a annual fee RM 120 per year to pay for children to study in Malaysia public school. To enroll your kids to public school is subject to school space availability. Priority will still Malaysia resident. International school will be no price different and you can save money of annual student visa fee.

Shellcass wrote:

We are using Alter Domus and have been very happy with their service so far. Yes- it appears 6 months is now fairly standard. We lodged ours with them in March so we are hoping for September/October.

Hi Shellcass,  how much does Alter Domus charge you for their services, and how are the paying procedure like? I got a quote from one agent asking paying 5k upfront... and intotal with my spouse and 3 kids, they say might be around rm8-10k in total.