Hi all,
Am living in Australia but am thinking seriously about the Malaysia My second Home program.
Am bit confused - have read a few sites and getting conflicting info.
Have seen that it offers 5 yrs without renewing permit to stay in country but also saw recently that it is now possibly 10 yrs.
Also seen that min Fixed Deposit requirement is MR150,000 but also saw a site where this figure was quoted as RM250,000.
Would welcome any advice on current position re these matters in the program.
Many thanks

well it depends on age of applicant

for individual and family members below age of 50 years you need 300,000RM

which is about $82,500 and for applicants above 50 years old you need

150,000RM or monthly income of 10,000RM


the only downside is you have to keep the money in a local bank for one year

without using it to buy property till you complete a full year money in bank

so in that year property prices go up and inflation eats your money by 10% so it will end up bad investment

and i dont think you can withdraw money for other uses only for education

otherwise it is a great place to retire

albert.

u can engage an agent.

just google around on the internet under "expatriates malaysia" if i remember correctly. one of the site, shortlisted 1-2 of the agents as "good" gather from users' feedback