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Con·trar·i·an Jo·h·or
- Thread starter ikani
- Start date
- Joined
- Mar 3, 2009
- Messages
- 6,807
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- 63
Dear all,
We are all here to share but any commercial or business interests especially involving large investments, please refrain from posting here.
There were some within the forum who shared their information for deals and did not have a happy outcome when they went in for business. (not referring to this thread of course)
We do not know who is at the other end of the keyboard so just beware. I am sure bro Ikani meant well but just refrain from contacting anyone on a forum no matter how credible (including me) without doing your homework.
Land ownership is always a sticky deal especially when you have to set up a company for this, you will also need more funds as banks will typically not loan that much (50% max) if at all. I for one, have done 10 years business over there. We have given up doing business there due to the fact that people who get licenses and do their due diligence, renovation are ALWAYS penalised while those who do nothing just pay a pittance fine and get away with things.
Some people also do or may not honour their commitments and even if you have contracts in writing, it involves sometimes lengthy litigation processes and many may not carry this on due to the trouble involved. Let's just say some people do not keep their words, we bit the bullet and cut our losses for business, maybe we were just unlucky.
Just be wary of any commercial invitations from any forums and do your research first. To me, this place is still good for long stay and retirement but i will no longer invest. Invest only in what you know or specialised in, anything else just give it a smile and a pass. Of course you may be much luckier than me but i do not count on luck to get where i am today. I am just thankful to get back to my original standards of living, doing business there is a REAL and painful nightmare.
From my personal experience, It is seriously anti business even if you know people so do not invest there until things do change.
We are all here to share but any commercial or business interests especially involving large investments, please refrain from posting here.
There were some within the forum who shared their information for deals and did not have a happy outcome when they went in for business. (not referring to this thread of course)
We do not know who is at the other end of the keyboard so just beware. I am sure bro Ikani meant well but just refrain from contacting anyone on a forum no matter how credible (including me) without doing your homework.
Land ownership is always a sticky deal especially when you have to set up a company for this, you will also need more funds as banks will typically not loan that much (50% max) if at all. I for one, have done 10 years business over there. We have given up doing business there due to the fact that people who get licenses and do their due diligence, renovation are ALWAYS penalised while those who do nothing just pay a pittance fine and get away with things.
Some people also do or may not honour their commitments and even if you have contracts in writing, it involves sometimes lengthy litigation processes and many may not carry this on due to the trouble involved. Let's just say some people do not keep their words, we bit the bullet and cut our losses for business, maybe we were just unlucky.
Just be wary of any commercial invitations from any forums and do your research first. To me, this place is still good for long stay and retirement but i will no longer invest. Invest only in what you know or specialised in, anything else just give it a smile and a pass. Of course you may be much luckier than me but i do not count on luck to get where i am today. I am just thankful to get back to my original standards of living, doing business there is a REAL and painful nightmare.
From my personal experience, It is seriously anti business even if you know people so do not invest there until things do change.
- Joined
- Jul 22, 2013
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- 11,366
- Points
- 113
How are you now sir? Any more custom troubles?
You are absolutely CORRECT. It's good that you have pointed this out so clearly. My bad for posting such invitations in this forum. It shall not be repeated.
in metta ...
I have looked through my posts and concluded that they are no longer relevant to this forum and I have noticed I can no longer delete or edit them. Please do me a favour please, forum manager ... I would like all my posts and images to be deleted as I don't wish to mislead anyone further ... Thank you and have a great day ...
- Joined
- Mar 3, 2009
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- 6,807
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- 63
So far ok sir, planning to get MM2H, just for long term stay ok. Been sick for a long while, recovering better now but lost 24 kg, just gained back a few recently. Found that i cannot stay too long over there as will sleep a lot
- Joined
- Jul 22, 2013
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I saw on forums they are asking for proof of 30k ringgit per month? New mm2h terms. Its madness
Its 40K pm.
- Joined
- Jul 22, 2013
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Does this affect current or new applicants? If people had this sort of money why stay malaysia at all?
- Joined
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Hi Rushifa, its 40k MYR as proof of monthly income on top of 1.5m fixed deposit and reduced to 5 years instead of 10. This applies to all including existing holders of MM2H.
Agree it makes it very unpalatable, why have it at all with such terms when other countries are going the other way. Unless for people who are already there and family loves the place, someone has recently assisted me with queries the application and i am thinking of following up with the documents.
Agree it makes it very unpalatable, why have it at all with such terms when other countries are going the other way. Unless for people who are already there and family loves the place, someone has recently assisted me with queries the application and i am thinking of following up with the documents.
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All are impacted including current holders.
- Joined
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No need to sir, i know you likely mean well, just that investments long term especially on large scale should not be taken lightly, much less invited through an open forum. Normally i wouldn't get much involved but this was flagged out and hence my apologies for the deletion.
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Terms i saw online:
Following the review of the programme the government has announced the following changes to the requirements for the visa. :
Monthly income required to qualify is increased from RM10,000 to RM40,000 a month (roughly US$9500 or £6800)
You need to show liquid assets amounting to RM1,500,000 in order to apply for the visa.
The fixed deposit requirement is increased to RM1,000,000 (roughly US$236,000; GB £170,000). It was previously RM150,000 if you were over 50, and RM300,000 for those under 50 years of age. (Up to RM500,000 can be withdrawn for education, health care or buying a house). In addition, RM50,000 must be placed for each dependent
You must spend 90 days a year in Malaysia.
The minimum age is increased from 21 to 35. We assume that is only the principal applicant.
Government charges are increased dramatically. The annual visa fee will be RM500 up from RM90 and there will be a processing fee charged by immigration of RM5,000 for the principal applicants plus RM2,500 for each dependent.
Following the review of the programme the government has announced the following changes to the requirements for the visa. :
Monthly income required to qualify is increased from RM10,000 to RM40,000 a month (roughly US$9500 or £6800)
You need to show liquid assets amounting to RM1,500,000 in order to apply for the visa.
The fixed deposit requirement is increased to RM1,000,000 (roughly US$236,000; GB £170,000). It was previously RM150,000 if you were over 50, and RM300,000 for those under 50 years of age. (Up to RM500,000 can be withdrawn for education, health care or buying a house). In addition, RM50,000 must be placed for each dependent
You must spend 90 days a year in Malaysia.
The minimum age is increased from 21 to 35. We assume that is only the principal applicant.
Government charges are increased dramatically. The annual visa fee will be RM500 up from RM90 and there will be a processing fee charged by immigration of RM5,000 for the principal applicants plus RM2,500 for each dependent.
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For tos requirements better to enjoy in Thailand, Pinoy land or Vietnam.
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Agree, they are more welcoming so always consider more places in your options. For those planning to rent, can consider Batam/Bintan as well, typically a few thousand (SGD) will last a year for a lease. Its a short ferry away and definitely no jam.
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Sarawak now how? I heard it was always easier. And no wonder i saw even in the expat forum people are leaving. And people talk about xenophobic sinkies
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Which is restricted onky if you intend to buy property. Nothing to stop younfrom renting anywhere
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There is absolutely nothing to stop one from buying in both E/W Malaysia.
The Sarawak route is somewhat easier although you still have to fly there to get started, it also has some privileges such as residing in W Malaysia, provided of course that you have 15 days minimum there every year. You have kids schooling there or have at least a 600k property, 10k monthly income for couple or have 300k FD (couple). I would recommend to get the MM2H first and then you are not restricted to 600k property over in Sarawak as you can get something that is 300k.
The route seems more reasonable but again this is subject to change if the government just decides to change things or make it harder although they tend to give more leeway for things done over in E Malaysia. As it is, people over in Malaysia are no longer as welcoming to us as in the past, they seemed to think all the troubles they are facing in the past 2 plus years are all due to Singaporeans.
Like blaming Singapore registered vehicles for pumping ron 95 petrol etc but then forgetting drivers of Singapore vehicles may not all be Singaporeans. There are even people from other countries, etc who rented Singapore vehicles and went into JB for day trips.
The Sarawak route is somewhat easier although you still have to fly there to get started, it also has some privileges such as residing in W Malaysia, provided of course that you have 15 days minimum there every year. You have kids schooling there or have at least a 600k property, 10k monthly income for couple or have 300k FD (couple). I would recommend to get the MM2H first and then you are not restricted to 600k property over in Sarawak as you can get something that is 300k.
The route seems more reasonable but again this is subject to change if the government just decides to change things or make it harder although they tend to give more leeway for things done over in E Malaysia. As it is, people over in Malaysia are no longer as welcoming to us as in the past, they seemed to think all the troubles they are facing in the past 2 plus years are all due to Singaporeans.
Like blaming Singapore registered vehicles for pumping ron 95 petrol etc but then forgetting drivers of Singapore vehicles may not all be Singaporeans. There are even people from other countries, etc who rented Singapore vehicles and went into JB for day trips.
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