Starting fom June 2019 to the present, with the different concerns of the public on politics, society, economy and people's livelihood, a new “Immigration Wave” has once again emerged in Hong Kong after the transfer of sovereignty in 1997!
So far, the accurate immigration figures of Hong Kong people are still unknown. Yet, according to the information from the Police Department, more than 15,000 people have applied for “Certificate of No Criminal Conviction” since June 2019 and the trend of rising application is obvious. Previously, the more popular choice for Hong Kong people to migrate overseas has always been the United States, Australia and Canada, and most of the applicants are middle-class people or people close to retirement age. But this time, there’s a group of middle-aged people with young children whose target is to pave the way for education development for the next generation. At the same time, another group of people, coming from different classes and professions, are actually looking for a back-up plan, but not consider to leave HK immediately. Therefore, they would prefer a country with lower entry threshold and simple application procedures. The most important consideration is no need to stay long during the application processing time. Therefore, Malaysia has become the hot pick for recent immigration!
In fact, the Malaysian Government has launched the "MM2H -Malaysia My Second Home Program" early in 2002. Upon approval, applicants can obtain a 10-year renewal and multiple-entry residence visa. This can best suit people who just want to obtain “residency” rather than “citizenship”! Comparing to other Asian countries such as Taiwan, Japan and Thailand, Malaysia has many advantages
1. The country's geographical location is unique, and there are no natural disasters, including earthquakes, volcanic eruptions and typhoons;
2. Multi-ethnic society with Malay (50%), Chinese (25%) and other races (25%) living together in harmony. Cantonese, Mandarin and English are also popular, and there’s barrier-free communication;
3. The country has abundant natural resources so no need to worry about food safety. The food culture is close to Hong Kong and people can enjoy different cuisines from many countries;
4. According to the standard of medical expenses, facilities, hospitals and doctors, Malaysia has been ranked as the best medical country in the world. With the medical advancement at an affordable price, Malaysia has become a popular place for medical tour recently;
5. Political and economic environment are stable. With the rapid development of the capital Kuala Lumpur, there are increasing investment from foreign companies while real estate prices are still cheap;
6. International school network is extensive in Malaysia. Many European, American and Australian universities also have their branches there. People can now enjoy lower education costs and less study pressure;
7. According to the "Global Retirement Index Report 2019" released by the American media “International Living”, Malaysia now ranks the first in Southeast Asia and becomes the first choice for retirement!
The requirements for applying for MM2H are simple. Applicants younger than 50 only need to have current assets of a minimum of RM500,000 (about HK$1 million) with a monthly income of RM10,000. Upon approval, applicants need to place a fixed deposit of an amount of RM$300,000 in any banks in Malaysia. Applicants aged 50 and above need to have current assets of a minimum of RM350,000 (about HK$700,000) with a monthly income of RM10,000 (retirees must produce a government-approved pension certificate with an amount of RM10,000 per month). Upon approval, applicants need to place a fixed deposit of an amount of RM$150,000 in any banks in Malaysia. In fact, Altruist has introduced MM2H program and popular properties in Kuala Lumpur three years ago, providing our customers with one-stop support and services. Due to the rising number of MM2H applicants, the Malaysian Government has also extended the approval time to 9-12 months. Interested applicants should act immediately!
In addition to Malaysia, Altruist can also arrange other immigration services in different countries around the world. If you have any enquiries, please contact your financial consultants or call our customer service hotline at 2297 8000!