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Friday, July 1, 2011
Saturday, June 18, 2011
MM2Home | MM2H Forums Expat Malaysia| MM2H requirements | MM2H news
MM2H Forums Expat Malaysia(Requirements and Benefits)
For Malaysia My Second Home(MM2Home)
ELIGIBILITY
The program is open to all foreign citizens (including foreign spouse married to Malaysians)
Successful participants are allowed to bring their dependants (wife and children)
FINANCES / INCOME
Below 50 years of age
Fixed deposit of RM300,000 (upon conditional approval of MM2H visa)
You can withdraw RM150,000 after one (1) year
Must maintain a minimum balance of RM150,000 from second year onwards and throughout stay in Malaysia under this program
Monthly income of RM10,000 or equivalent in foreign currency (to show during application)
Above 50 years of age
Fixed deposit of RM150,000 OR monthly off-shore pension of RM10,000 (government pension is 100% accepted but the committee will evaluate if it is from a private source. If the pension organization is reputable, then it might be accepted. If not, the approval will be changed from pension to fixed deposit)
Government pension - husband & wife's pensions can be combined.
Fixed deposit of RM150,000 is only required only after the approval is obtained
Fixed deposit - you can withdraw RM50,000 after one (1) year
Must maintain a minimum balance of RM100,000 from second year onwards and throughout stay in Malaysia under this program.
If the applicant has purchased properties worth more than RM1million, they may be exempted from putting in the full amount into the fixed deposit. However, they have to pay up fully for their property.
FINANCIAL STRENGTH
MM2H applicants are required to have adequate financial strength. All applicants must demonstrate that they have at least RM500,000 (RM350,000 for those above the age of 50) equivalent in cash, deposits, bonds, securities, properties and other assets.
MEDICAL INSURANCE
Medical insurance coverage by insurance companies operating in Malaysia. Medical insurance coverage is required for all applicants (including spouse and children). Prices starts from RM75 onwards and it depends on the age of the applicant.
MEDICAL REPORT
Medical checkup is required for all participants (including spouse and children). It will be done only when you come in for passport endorsement, not during application.
Important Notes :
The money can only be withdrawn to purchase residential properties, education for children in Malaysia and for medical purposes in Malaysia only.
For residential property purchase, the sales and purchase agreement has to be signed AFTER the 1 year period. Otherwise, it is not valid. and you cannot withdraw to purchase the property.
The deposit can only be made in banks in Malaysia only (all banks - foreign or Malaysian banks). Deposit cannot be placed in a Malaysian bank overseas.
All deposits has to be made in Malaysian Ringgit only
For the pension method, there is no requirement for you to transfer the money over to Malaysia. A letter from the pension board and other financial documents (fixed deposits, bank statements) is required.
Visa holders are NOT allowed to work or seek employment in Malaysia.
Property purchase is NOT a requirement. You can rent a place to stay if you want to.
There is NO "minimum-days-to-stay-in-Malaysia" requirement for this visa.
To do business under MM2H visa, you must follow the guidelines from the Ministry of International Trade.
The main applicant may be the husband or wife. Whoever has the higher financial strength should be the main applicant.
Part time work (20 hours per week) is allowed but it must be approved by the MM2H committee.
Employment Pass holders who wish to participate in the MM2H program are exempted from the “cooling off period” on the condition that their application to participate in MM2H program is submitted 3 months before the expiry of the Employment Pass.
Unmarried children under the age of 21 are allowed to join this program as dependents of the parents.
Parents of applicants (including parents-in-law) are allowed to join applicant as dependent but they will get a yearly visa. The parents must be more than 60 years old.
For those who will be bringing their pets in, please click here for more information on quarantine and immunization procedure
** Good news - For those who are interested in getting medical insurance in Malaysia (due to high insurance cost in their home country), there are plans available for you that is very reasonably priced. Contact us for more details. **
Benefits Of Joining Malaysia My Second Home
You are entitled to purchase one car tax-free OR you are allowed to import your own car tax-free
No taxes on the income/pension brought into Penang.
You are allowed to stay in Malaysia (without leaving the country) until the visa expires and you don't need to leave the country during renewal.
Cars are very expensive in Malaysia and you will get approximately 20-50% off the sticker prices if you were to buy it tax-free. There are many models available to you and it is not restricted to Proton only.
For Malaysia My Second Home(MM2Home)
ELIGIBILITY
The program is open to all foreign citizens (including foreign spouse married to Malaysians)
Successful participants are allowed to bring their dependants (wife and children)
FINANCES / INCOME
Below 50 years of age
Fixed deposit of RM300,000 (upon conditional approval of MM2H visa)
You can withdraw RM150,000 after one (1) year
Must maintain a minimum balance of RM150,000 from second year onwards and throughout stay in Malaysia under this program
Monthly income of RM10,000 or equivalent in foreign currency (to show during application)
Above 50 years of age
Fixed deposit of RM150,000 OR monthly off-shore pension of RM10,000 (government pension is 100% accepted but the committee will evaluate if it is from a private source. If the pension organization is reputable, then it might be accepted. If not, the approval will be changed from pension to fixed deposit)
Government pension - husband & wife's pensions can be combined.
Fixed deposit of RM150,000 is only required only after the approval is obtained
Fixed deposit - you can withdraw RM50,000 after one (1) year
Must maintain a minimum balance of RM100,000 from second year onwards and throughout stay in Malaysia under this program.
If the applicant has purchased properties worth more than RM1million, they may be exempted from putting in the full amount into the fixed deposit. However, they have to pay up fully for their property.
FINANCIAL STRENGTH
MM2H applicants are required to have adequate financial strength. All applicants must demonstrate that they have at least RM500,000 (RM350,000 for those above the age of 50) equivalent in cash, deposits, bonds, securities, properties and other assets.
MEDICAL INSURANCE
Medical insurance coverage by insurance companies operating in Malaysia. Medical insurance coverage is required for all applicants (including spouse and children). Prices starts from RM75 onwards and it depends on the age of the applicant.
MEDICAL REPORT
Medical checkup is required for all participants (including spouse and children). It will be done only when you come in for passport endorsement, not during application.
Important Notes :
The money can only be withdrawn to purchase residential properties, education for children in Malaysia and for medical purposes in Malaysia only.
For residential property purchase, the sales and purchase agreement has to be signed AFTER the 1 year period. Otherwise, it is not valid. and you cannot withdraw to purchase the property.
The deposit can only be made in banks in Malaysia only (all banks - foreign or Malaysian banks). Deposit cannot be placed in a Malaysian bank overseas.
All deposits has to be made in Malaysian Ringgit only
For the pension method, there is no requirement for you to transfer the money over to Malaysia. A letter from the pension board and other financial documents (fixed deposits, bank statements) is required.
Visa holders are NOT allowed to work or seek employment in Malaysia.
Property purchase is NOT a requirement. You can rent a place to stay if you want to.
There is NO "minimum-days-to-stay-in-Malaysia" requirement for this visa.
To do business under MM2H visa, you must follow the guidelines from the Ministry of International Trade.
The main applicant may be the husband or wife. Whoever has the higher financial strength should be the main applicant.
Part time work (20 hours per week) is allowed but it must be approved by the MM2H committee.
Employment Pass holders who wish to participate in the MM2H program are exempted from the “cooling off period” on the condition that their application to participate in MM2H program is submitted 3 months before the expiry of the Employment Pass.
Unmarried children under the age of 21 are allowed to join this program as dependents of the parents.
Parents of applicants (including parents-in-law) are allowed to join applicant as dependent but they will get a yearly visa. The parents must be more than 60 years old.
For those who will be bringing their pets in, please click here for more information on quarantine and immunization procedure
** Good news - For those who are interested in getting medical insurance in Malaysia (due to high insurance cost in their home country), there are plans available for you that is very reasonably priced. Contact us for more details. **
Benefits Of Joining Malaysia My Second Home
You are entitled to purchase one car tax-free OR you are allowed to import your own car tax-free
No taxes on the income/pension brought into Penang.
You are allowed to stay in Malaysia (without leaving the country) until the visa expires and you don't need to leave the country during renewal.
Cars are very expensive in Malaysia and you will get approximately 20-50% off the sticker prices if you were to buy it tax-free. There are many models available to you and it is not restricted to Proton only.
Back to Main Page: www.VulcanInternational.blogspot.com
Thursday, June 16, 2011
What is investment | Malaysia: Gross Rental Yields(GRY)
What is investment | Malaysia: gross rental yields
Last Updated: Oct. 26, 2010
[Districts researched]
Ampang, Ampang Hilir, Bangsar Baru, Bukit Kiara, Damansara Heights, Jalan Ampang, Kenny Hills,
KLCC (Kuala Lumpur City Centre), Mont Kiara, Sri Hartamas, Taman Tun Dr. Ismail, Ukay Heights
Source: Global Property Guide
Condominium prices in Kuala Lumpur are reasonable at between US$1,500 to US$3,000 per square metre (sq. m.)
The extraordinary stability of residential property prices in Malaysia – rising in some years by 2% or 3%, falling in other years by a few per cent – means that the observer is never shocked by a sudden boom or price-collapse. In inflation-adjusted terms, prices have been almost completely stable for the past 15 years.
Given that Malaysia is a large place and relatively thinly populated, there are obvious limits to capital appreciation prospects (arguably, except in ‘dormitory town’ areas for neighbouring Singapore).
Therefore, the prime attraction of property ownership in Kuala Lumpur is income. Gross rental yields have fallen somewhat over the past year. Rents have not kept pace as nominal prices have risen. Yet the decline has been gentle, almost invisible. The 120 sq. m. condominium category remains the best-paying investment, with gross returns of 7%, but last year, our researchers found that rental yields averaged over 8% for this size.
Gross rental yields on condominiums generally range from 5% to 7%. Bungalows have lower yields, typically just over 4%.
Back to Main Page: www.VulcanInternational.blogspot.com
Last Updated: Oct. 26, 2010
[Districts researched]
Ampang, Ampang Hilir, Bangsar Baru, Bukit Kiara, Damansara Heights, Jalan Ampang, Kenny Hills,
KLCC (Kuala Lumpur City Centre), Mont Kiara, Sri Hartamas, Taman Tun Dr. Ismail, Ukay Heights
Source: Global Property Guide
Condominium prices in Kuala Lumpur are reasonable at between US$1,500 to US$3,000 per square metre (sq. m.)
The extraordinary stability of residential property prices in Malaysia – rising in some years by 2% or 3%, falling in other years by a few per cent – means that the observer is never shocked by a sudden boom or price-collapse. In inflation-adjusted terms, prices have been almost completely stable for the past 15 years.
Given that Malaysia is a large place and relatively thinly populated, there are obvious limits to capital appreciation prospects (arguably, except in ‘dormitory town’ areas for neighbouring Singapore).
Therefore, the prime attraction of property ownership in Kuala Lumpur is income. Gross rental yields have fallen somewhat over the past year. Rents have not kept pace as nominal prices have risen. Yet the decline has been gentle, almost invisible. The 120 sq. m. condominium category remains the best-paying investment, with gross returns of 7%, but last year, our researchers found that rental yields averaged over 8% for this size.
Gross rental yields on condominiums generally range from 5% to 7%. Bungalows have lower yields, typically just over 4%.
Back to Main Page: www.VulcanInternational.blogspot.com
Penang Property Fair | Star Property Fair 2011 - Completed
We are most delighted to inform you that once again the successful annual The Star Property Fair 2011 is back.
THE STAR, Malaysia’s leading English daily in collaboration with Henry Butcher Malaysia Penang, will be organising its annual Penang Property Fair: The Star Property Fair 2011 from 21 – 24 July, 2011. This annual property exhibition offers prospective property investors with one of the largest showcase of choice properties in Penang.
The fair promises to be more exciting this year. The exhibition will showcase new and “yet to be revealed” real estate developments and the ever popular free public forums. A round table discussion with industry is being organized as a prelude to the fair.
Since its inception in 2003, The Star’s Property Fair has continued to reinvent itself to be the most sought after event in the Northern region of Malaysia.
With new elements being introduced annually, the most prestigious fair in the Northern region never failed to dazzle both exhibitors and visitors alike.
With the overwhelming success of The Star’s Property Fair last year, the committee of the event aims higher to include different dimension to the fair.
Amongst other, the following are in our plan:
- A more comprehensive showcase of foreign properties
- Talks and forums pertaining to investment in foreign properties
As such we would like to invite your esteemed organisation to join us in this venture to make the fair another successful one.
Why are we incorporating this foreign “element”?
- It will be the first of its kind in the Northern region. Never, has any fair dedicate a section solely for foreign properties.
- Penangnites are prudent and ardent property investors.
- There is an influx of people in Malaysia, particularly Penang, who are hungry for information pertaining to foreign properties as some have children studying overseas while others are thinking of migration or just for pure investment purposes.
- We intend to act as a gateway for international players to penetrate the regional market and a window for local investors to view global properties.
Why were we successful?
- New elements introduced yearly to make the fair exciting and refreshing.
- Most publicised property fair in the Northern region. Extensive publicity in various media to reach out to a wide range of market:
o PRINT: The Star newspaper – the leading English daily in Malaysia.
o RADIO: Three leading radio stations – RedFM (English), Suria FM (Malay) and 988 (Chinese).
o ONLINE: StarProperty Portal and Star Online.
- Informative talks/forum by renowned gurus and professionals in the industry.
- Exciting games/contest with lots of prizes to be won.
AT A GLANCE
Date: 21 – 24 July, 2011
Venue: G Hotel & Gurney Plaza
Moved to the more affluent G Hotel and Gurney plaza in 2009 based on the change in tastes, preferences, values and attitudes of today’s consumers.
Exhibitors: Approximately 20 of the biggest names in Penang’s property market in 2010.
Visitors: More affluent visitors.
Estimated 10,000 per day in 2010.
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