currently in 11th place, comfortably winning the title of Best Country to Retire in Asia.
According to the expat news site Expat Go, the main reason Malaysia has become unfriendly to foreign expats is owing to the PN government’s recent confused and severe new revisions to Malaysia My 2nd Home (MM2H) rules.
The proposed changes to the MM2H policy were originally as such:
- Minimum monthly income increased to RM40,000 (300% increase)
- Minimum fixed deposit increased to RM1 million (600% increase)
- Minimum liquidity requirement increased to RM1.5 million (400% increase)
- Yearly visa fee increased to RM500 (600% increase)
- Duration of MM2H visa reduced to 5 years (from 10 years)
The administration has agreed to alter the standards after receiving strong opposition from existing expats and a variety of groups.
Despite this, expats have lost faith in the Malaysian government, with many planning to leave and potential expats looking elsewhere.
Nonetheless, the program’s and Malaysia’s worldwide reputations have suffered severe damage. Regardless of how things turn up, some MM2Hers have told us that their faith in the Malaysian government has been shattered.