Is Malaysia Second Home Real Estate Immigration a Scam?

The predecessor of the Malaysia Second Home Program was the "Silver Ethnic Project", which was originally a visa program used to attract foreign retired seniors to settle in Malaysia. Later, the Malaysian government sought to attract more foreign funds and stimulate the local tourism industry. and economic development, after a series of improvements, the Malaysia Second Home Program was formed to allow all foreigners, including retirees, to settle in Malaysia.

Applicants for the Malaysian Second Home Program only need to make deposits or purchase a house, and can move to Malaysia without making risk investment. The application threshold is low, the procedures are simple, the processing is fast, and the cycle is short (2-3 months). Ready to use. The threshold is low. You only need to deposit RMB 600,000 in AmBank. You can withdraw RMB 300,000 in the second year. After that, you can keep RMB 300,000 in the account. The amount is halved for those over 50 years old. If you can live in Malaysia for 10 years, it’s no wonder that many people are tempted.

The Malaysia Second Home project is only a settlement project. Strictly speaking, it cannot be called an immigration project. The applicant obtains a renewable 10-year settlement visa. This visa does not have permanent residence status or naturalization. conditions, but can be renewed indefinitely. It is worth noting that this settlement program only stipulates that applicants have the right of residence. Those who successfully apply for the Malaysia Second Home Program can start a company locally. If they want to work locally, they must apply for a special work permit from the Immigration Bureau.