House cap at rm600k min mean still subject to respective state requirements. Let say KL cap at min 1mil and Selangor cap at 2mil. That 600k mean for other area which didn't mention their state requirements then this 600k min will be the reference
Do they only want people 85 years or older in Malaysia so they don't work? It would make sense to encourage older foreigners to invest and open businesses and hire local Malaysians to help run the business. There are a lot of closed shops and run down shop houses that look abandoned in KL and Penang. Why can't a foreigner buy these to renovate and put them into its highest and best use rather than letting a historical building fall to waste? Why put money in a fixed income product when that same amount can be used more productively to hire local architects, designers, construction workers, and buy building supplies? Locals would appreciate plentiful jobs and foreigners can build a successful business to replicate and further expand. This is how Malaysia can move out of their middle income trap.
Is it 500K RM or $150K? Its like pulling teeth with these agencies I tell you. There is no real estate investment necessary it seems. Somehow I feel it got lost in translation. So far I have read that the income requirement has been aborted as you also gave a logical explanation as to why.
PVIP seems better than Gold & Platinum. PVIP only requires fixed deposit of Ringgit 1M which is lower. PVIP has no minimum stay requirement, though participation fee is similar to Platinum's.
The "Platinum" tier, participants must maintain a fixed deposit (FD) of RM5mil (approximately US$1.05mil). After one year, a maximum withdrawal of 50% is allowed for property purchase (with a minimum value of RM1.5 million), healthcare, and domestic travel within Malaysia. The "Gold" tier requires an FD of RM2mil (approximately US$420,800) with similar withdrawal provisions for property purchases (minimum value of RM750,000), healthcare, and domestic travel. The "Silver" tier requires RM500,000 (approximately US$105,000) in FD with similar withdrawal provisions. Irrespective of the chosen tier, all participants must fulfil the minimum stay requirement of residing in Malaysia for a cumulative total of 60 days annually.
