@neazma01 In my opinion the Sarwak MM2H is the best program in Malaysian for retirees and those over 50. For those over 50 there is no required property purchase (it is optional), unlike all programs in the rest f Malaysia (including Sabah). In Sarawak MM2H one can rent, simly meet the 1 month/yer visitation requirement and live elsewhere, or -again optional- buy a property. Landed property purchases must meet minimum price of RM600,000 (@ US$125,000); there is no "floor" for strata property purchases (e.g. condos). There is no restriction on whether the optional purchase be made from developer or on the econd-hand market.
Over 50 iears of age with appropraite credentials or degrees can work or invest but ONLY in certain sectors with government permission. The sectors mentioned were teaching, and training local individuals. Business investment can only be in partnership with a 51% -locally owned enterprise. In general none of the mainland MM2H programs allows employment at all.
The only required purchase of property under S-MM2H is for those age 30-49, and this is exempted for those with 1) children enrolled in a local international school or 2) those undergoing treatment of a chronic or ongoing health issue by a Sarawak physician/hospital.
As announced in June 2024 (the tiered MM2H Federal Programs - 20 year Platinum, 15 year Gold, 5 year Silver, and the special Johor Economic Zone MM2H - all require a purchase and retention of a property for ten years before resale. Most West Malaysian states have a foor of between RM1m-2million (US$215-430,000). Both SEZ-Johor and Sabahs program (announced July 2024) also requires that purchase to be a developer sold condo unit . Although they have eliminated any proof ofsalary/ension requirement for the tiered programs, the Fixed Deposits are extremely high, and there a mandatory buy in fees. In addition, there was a revision of the agents licensing process that resuted in a floor of RM40,000 being set (most agent were previouly processing applications for between RM10-15,000). This resulted in many agents elevating their fees to RM40,000 (@US$8500).
Fees for agents in Sarawak remain about the same as the earlier charged by mainland agents (@ RM10-12,000). In addition, for those that know a local Sarawakian a "sponsorship" option remains open...with the expense set between the friends.
As of July 2024 Sarawak currently has the following basic Financial requirements:
1) Fixed Deposit: Single Applicant - RM150,000 Couple - RM300,000. Up to 40% of that amount may be used after the first year for the purchase of a residential property, car, medical expenses, or childrens tuition in an international school.
AND
2a) Income: Salary or Pension amounting to RM7000 (single) or RM10,000/month (couple) [US$1475/ US$2100] OR 2b) Proof of STABLE offshore savings deposit of RM50,000 (single)/RM100,000 (couple) in tandem with other sources of income.
There are also mandatory local medical insurance requirement (generally waived for those over 60 years of age); proof of good behavior (absence of criminal record); a Health Examination (to be performed in Sarawak) ; Bond guarantee by a local Sarawakian sponsor/ S-MM2H agent and payment of visa (RM500/yearZ) and Security bond fees (variable by nation but generally @RM2500).
One must visit Sarawak each year for a period of 30 days or more. The requirement may be met using several visits. The via allows unlimited entry to Sarawak and Malaysia and free travel within. However a clause in the Letter of Conditional approval (from November 2022) states that one may only RESIDE in Sarawak and no other Malaysian State. Previously SMM2H recipients coud reside in West Malaysia. How long one can use an accomodation or rent in West Malaysia is not specified in the rule.
The SMM2H visa is a 5+5 year visa with the second half being awarded after a check to see if conditions are being met (new Health Check Up, required visitations, no other violation of the terms of the visa).