MM2H related Newspaper Articles

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hi, David,

Sorry to budge in guys but is there some X-purpose conversation here.
David

Nothing conspiratorial, or any X-File stuff, I'm afraid. It's just a couple of innocent posts with opinions about what could/should/would be good for MM2H. If the newspapers can carry opinions on MM2H then we can mess around with a few ideas here, right on.

It's the wrong thread of course as it really should be at MM2H Moving Forward but sometimes posts just happen in a different place.   



PS :  "I drove my 1950's Riley from Penang to S'pore in 1959? "  Question : Wonder what happened to that?

Answer :  It's Singapore. You now owe S$1,234,567.89 in road tax and parking.      On full payment the vehicle will be ready for you to collect. 
 

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h,

This article came from The Daily Express" the Sabah newspaper.


14 April 2010 : Builders want role as MM2H Agents.
Kota Kinabalu: The Sabah Housing and Real Estate Developers Association (Shareda) will be able to play a more prominent role in the Malaysia My Second Home (MM2H) programme if appointed as an agent. Its President Datuk Susan Wong said at the moment applications for the MM2H programme were being handled by five licensed agents, most of them travel agents in Sabah.

She said housing developers, being not licensed agents, would not be able to assist foreigners who buy their houses and want to apply for the MM2H programme in Sabah. Towards this end, she hoped Shareda would be given a role as a MM2H agent as well since "we are in a better position to help those who want to apply for the MM2H".

She said the developers found out that foreigners did not know the procedure to apply for the MM2H programme "but this is the job of the licensed agents in Sabah". "So Shareda proposes that it be appointed as a MM2H programme agent so that we can help foreigners buying houses in Sabah to apply for the programme," she said, Tuesday.

Since the programme was implemented in 2002, a total of 13,317 foreigners have had their MM2H applications approved throughout the country and last year 1,578 applicants were successful. However, the number of successful applicants in Sabah last year was only 60. According to her, it is relatively easy for foreigners to apply for the programme.

For those aged 50 and above, they are required to put in a fixed-deposit of RM150,000 in a local bank as well as have all the necessary immigration documentation to get the 10-year Malaysian visa. Those aged 50 years and below are required to place a RM300,000 fixed deposit. After one year, they are allowed to withdraw 60 per cent of the deposit, not to be remitted overseas, but among others to buy property and medical check-up.

Further, they could also bring along their children aged 18 and below to stay in Sabah and they are also entitled to import a car without having to pay the tax. Wong also said the report in the Daily Express recently that the fifth largest housing developer in Peninsular Malaysia, Mah Sing Group Bhd, is looking for land in Sabah to venture into the MM2H programme was a welcome news.

"We have beautiful scenery, islands and the mountain but we must attract the people to stay here É somebody needs to start," she said, adding that she believed Mah Sing has this capability. Mah Sing Group Managing Director, Tan Sri Leong Hoy Kum was reported as saying that the group was seeking land in the State Capital for mixed-range properties, including villa and residential homes.

"We want to build more houses that can be sold under the MM2H programme and we are looking at buying land near the beaches or anywhere in the prime area, or with potential to become a prime area in the future," he said, adding the group chose Sabah as they found many foreigners were interested to purchase land here."
http://www.dailyexpress.com.my/news.cfm?NewsID=71805


Here's some nit-picking ;

1. I got in touch with all the Sabah MM2H agents to ask about mm2h rules in Sabah and only 1 replied. They wouldn't answer any questions. They referred me to the official Sabah site which refers folks to the MM2H agents. Catch 22.

2. The article says that applicants can withdraw 60% of the FD after 1 year. Susan Wong says, "Towards this end, she hoped Shareda would be given a role as a MM2H agent as well since "we are in a better position to help those who want to apply for the MM2H".

The current MM2H website says, "* After a period of one year, the participant can withdraw up to RM150,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes." This is 50% not 60%.

Also for the over 50"s : " After a period of one year, participant who fulfills the fixed deposit criterion can withdraw up to RM50,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes. This is 30% not 60%.

Maybe Sabah has different rules. Maybe they just don't know. Maybe Shareda needs to write to the Sabah Daily Express and let them know, if Shareda knows. And if Sabah has different rules will someone please let me know.