Malaysia Likely to Reduce MM2H Minimum Deposit Requirement by 20-30% Following Review
The MM2H closed for new applications last month pending revised terms. Stakeholders hope for sharply reduced costs, writes Jolie Zhang.
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Asia-Pacific
Vanuatu’s New CBI Program: Coconut Oil Fund to Yield Annual Returns, Partial Redemption of Principal
The new program has a single qualifying option: A fund that will invest in the coconut oil sector to reduce Vanuatu’s reliance on fossil fuels.
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Revived Hong Kong Capital Investment Entrant Scheme to Triple in Price, Reveals Chief Executive Lee
Hong Kong’s Chief Executive John Lee has confirmed the program’s new price tag and the exclusion of residential real estate.
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Malaysian Govt. Vows to Ease MM2H Conditions Amid 85% Drop in Applications
The Premium Visa Program (PViP), meanwhile, has received an average of under 5 applications a month since opening a year ago.
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Thailand’s Tax Tightening on Foreign Income Raises Questions About Implementation
The new guideline “poses significant challenges for Thai tax residents,” emphasizes the Australian Chamber of Commerce in Thailand.
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HKD 30 Million Price Tag Likely for New Hong Kong Capital Investment Entrant Scheme
The long-awaited revamp of Hong Kong’s CIES is likely to have a HKD30M price tag, writes Hannah Ma, who thinks we’ll know for sure in October.
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Singapore Banks to Subject Chinese Holders of CBI Passports to Extra Scrutiny Following Raids
Following raids, skittish local banks say they will keep a closer eye on clients holding second passports from CBI jurisdictions.
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Indonesia’s New Golden Visa Misses the Mark in What Could Be the World’s Next Great Residency Destination
Too expensive, not permanent, and not providing any solutions that don’t already exist: Brian Greco’s verdict on Indonesia’s new golden visa.
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As Malaysia’s Federal MM2H Withers Under Stricter Rules, Sarawak’s MM2H Sees 2,800% Increase in Approvals
Now nearly 7 times cheaper than the national version and with much more flexible presence requirements, Sarawak’s MM2H is thriving.
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Thai Elite Visa Set for Revamp on October 1st: Expect Price Hikes of “50-500%” Says Leading Agent
“I just hope they don’t raise prices too much,” says Trelcat. “Look at what happened with Malaysia’s MM2H program when they raised prices.”
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Vanuatu: Schengen-Access Suspension Saw CBI as Share of Govt Cut in Half
Vanuatu’s CBI revenue has cratered since the loss of Schengen. A commission has been formed to find out what went wrong – and who is to blame.
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Malaysia: Govt. to Review Both MM2H and PViP Following Dismal Performance
Officials propose to divide MM2H into “Platinum, Silver, and Bronze” categories. Agents association call for merger of MM2H and PViP.
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Australia BIIP Applicants Protest as Permanent Residency Wait Times Balloon
The decision to de-prioritize BIIP visa processing has seen wait times extend from a few months to many years. Applicants feel short-changed.
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South Korea Doubles Investment Requirement for Investor Visa
South Korea’s investor visa, which has raised at least US$10 billion in the last 23 years, is doubling the real estate minimum investment.
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Residency in Singapore for Entrepreneurs – Hiring Yourself Still Works Under New Rules
The Global Investor Program costs millions. Entrepass requires VC funding. For entrepreneurs seeking a base in Singapore, the EP Visa still works best.
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Australia Sharply Reduces BIIP Visa Availability for 2023/24 Despite Record Backlog
“The future of the BIIP is uncertain,” writes James Hall, pointing to new planning levels that will exacerbate the already huge backlog.
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Malaysia M2H Applications Down by 90% Since New Rules Imposed, Says Industry Association
The quadrupling of the MM2H income requirement has caused a collapse in applications. “Those who now qualify have better options,” say agents.
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Vanuatu Launches AUD-Denominated CBI Bond Investment Option
The government will appoint a single Master Agent to market the world’s only sub-US$100,000 (technically speaking) CBI option globally.
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Singapore Global Investor Program Quadruples Min. Investment Requirement
An average of 60 investors a year qualify for PR under Singapore’s GIP. Now, the government is quadrupling the minimum investment requirement.
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State Govt. Approves New Sabah-MM2H: Malaysia Now Has 4 Residence-by-Deposit Programs With Different Prices
Malaysia now has four residence-by-deposit programs that let participants live anywhere in the country, but two of them have an 80% discount.
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