Here's an Eligibility Question?

[Onemorething]

Okay, so my wife lands a high level director position in KL.  She gets her work VISA and myself and two children under 18 receive dependent visas.  I have a work VISA in HK and continue to work at my company in HK but live in KL and keep a serviced apartment in HK.

One year from now I receive my permanent residence in HK given its a 7 year tour to get it.

I apply for the MM2H program. 

Question - Would I be considered eligible given my wife works in KL already and I'm a dependent?

[scott]

hi,

Your wife will have a Malaysian full-time work visa, whereas the mm2h visa has limited part-time work restrictions. And you're a dependent on that visa.

The mm2h.gov.my website states :

Employment Pass holders who wish to participate in the MM2H programme are exempted from the “cooling off period” on the condition that their application to participate in MM2H programme is submitted 3 months before the expiry of the Employment Pass.

This pretty much confirms that the mm2h visa, and the work/employment pass visa, are seen as 2 distinct items. IMHO, I can't see that you can have both as they are mutually exclusive.

Maybe another member on this site has experience/knowledge. If not, and you want further comment, please check alloexpat (immigration forum) and post there and see if there's a response.

Also, if you're under 50 you and your wife (plus kids) can apply together with the FD of RM300,000. If you apply earlier then it could be a case of a further RM300,000 for a separate application for your wife when she comes off the work pass. You'd need to check if spouses can be added later for the same terms. If you do find anything out please post to let us all know.

[Onemorething]

It's a unique case for sure!  What is the normal eligibility for purchasing a house as an expat?

[scott]

hi,

It's the same as it is for mm2h as it all comes under the FIC. Minimum RM250,000 in most areas, minimum RM300,000 in selected areas.

However, I think (and this needs checking) that as an expat you can buy a shophouse whereas on mm2h you can't.

[Onemorething]

I actually just want to buy a Landed Bungalow in Damansara Heights?  Is there any restrictions as a foreign investor?  In HK there is not!

[corporateangel]

An obvious question 'Onemorething' with no malice attached...

You stated the following:

Hold on for the next leg down before even considering the RE market anywhere right now but more importantly keep all your powder dry.
and
It will only get worse!  How much?  Best guess is back to pre bubble levels.  In the USA likely going back to 2002 levels of housing, in HK likely 2004, in SING the same and Malaysia (KL) 2004-2005.

Why would you be  buying a landed property in Damansara now?

[Onemorething]

In this thread I am just asking about the potential to purchase.  Can you simply purchase landed homes as a foreigner?

On the other thread, absolutely I support NOT purchasing anything for 18-24 months with a wait an see attitude.

[scott]

hi,

Yes, as a foreigner you can purchase landed property. You do not need to be on the mm2h scheme. You can also buy land and build.

[Onemorething]

Great thanks Scott.