Malaysia My Second Home
As part of the government’s effort to improve the economy by increasing the inflow foreign funds in the country, the Malaysia My Second Home campaign. The crux of the campaign was to provide incentives to foreigners from any country (except Israel) to buy property and stay in Malaysia.
The program is to allow people from all over the world, who fulfill certain criteria, to stay in Malaysia as long as possible on a social visit pass with multiple entry visa. The Social Visit Pass is initially for a period of 5 years and renewable.
This programme was widely promoted in countries like Singapore, Hong Kong, the UK and the Middle East, jointly organized by the Immigration Department and Tourism Malaysia. In the latter’s website, they list several benefits of staying in Malaysia, like high standard of living, reasonable cost of living, infrastructure, political stability, etc. Even for Malaysians, the info makes an interesting read.
Ask any expatriates or tourists who have stayed in or visited Malaysia, they will tell you all about the fantastic food, warm and friendly people, diverse ethnic culture and traditions, etc. So if you’re a foreigner and planning to invest to retire in another country, Why not check Malaysia out?
Those interested can look up the following government websites:
Immigration Department of Malaysia
As a side note, I found a website called Penang My Second Home. The sites is pretty spartan and it looks like it was coded in 1994.
Its a good move on the authorities part to bring in some foreign exchange. However, we have to look at the disadvantages vis-a-vis other countries such as Australia and Singapore. Renewing the social permits every 5 years is too much trouble, obtaining a PR is near impossible and you can’t work in the meantime.
Comment by Adam — August 3, 2005 @ 4:21 am
Adam,
i think the programme is more targetted to retirees with savings. to promote it further, maybe the immigration dept should update on how many people have taken up the offer.
Comment by Administrator — August 3, 2005 @ 6:50 am
Is this programme successful? Actaully not many foreigner even though local people know about this programme. I think government do not put enough effort to promote it. Furthermore, i also do not see that mm2h has stimulate the residential property in malaysia as i expected before.
Comment by leehong — August 10, 2005 @ 2:49 pm
I don’t think there has been any publication on how many takers there were for this programme that i have seen. most of the time, the developers help promote this programme when they are marketing their products, but maybe the government has done some roadshows overseas.
Comment by Administrator — August 11, 2005 @ 12:55 am
winstrol
Trackback by winstrol — March 21, 2006 @ 11:14 am