Special Economic Zone - MM2H

Special Economic Zone (MM2H)

The government has announced a MM2H visa exclusively for Special Financial  Zones (SFZ). Currently, there is only one SFZ and that is the Forest City development. The development is quite large and sits on reclaimed land and makes up part of the much larger Johor-Singapore Special Economic Zone. It was originally forecast to accommodate 700,000 residents on four man-made islands but only one island has been built. It was built by a developer from China (Country Gardens) but has shared ownership with the Johor government. 

The Special Finance Zone MM2H visa is aimed at increasing interest in the Forest City  development and it has more attractive terms when compared to the other MM2H visas. Forest city is well maintained and residents who have bought units seem satisfied. The fixed deposit requirement is much lower than the other west Malaysia visas (US$65,000 versus $150,000 for the lowest national visa). Even lower for applicants over 50 years of age at US$32,000)

This visa may appeal to foreigners because despite Forest City’s premium pricing relative to other Johor properties, it is much cheaper than neighbouring Singapore and very competitive with many western countries