QUOTE(Midnight Rain @ Sep 2 2022, 11:08 AM)
For retiree who has rm16 millions and at FD rate of 3%, they can easily generate 40k per month and qualify. So essentially anyone rich enough can easily qualify for this even when not working. The FD 1 million is just a minor and insignificant criteria.
That will exclude most of the middle class from all countries though, only T10 and above are likely to qualify.
For rich expat that already works here, they already live here and this program is not relevant to them.
The question is though, if you are T10 from another country, you have lots of choices and whether Malaysia is attractive to you. I think it is unlikely to achieve that 1% quota.
Precisely.......
These clowns continue to do clowning things. They definitely do not know who are they trying to attract....
The richest of the rich in the world will not move to msia, they will live in NYC, London, Switzerland, Paris, LA, Monaco, SG HK or Dubai......cities and countries where there's enough events and activities to amuse them
So with this threshold, you're really targeting people who cannot live that rich lifestyle in OECD/rich countries. I.e. if you wanna play in monaco, shop is milan and ski in switzerland, you need to be throwing millions of euros around, that's a different scale already. 1M ringgits, is essentially about 200k euros only, for the most part, it's like the upper end of the middle class or T20 in rich countries....hardly can be considered as tycoons.
Rich people from developing countries, when they are rich, they are really rich and their target countries are OECD countries.....why would you move to a half-assed country like msia? When you can move to australia or canada?
This post has been edited by feynman: Sep 2 2022, 11:47 AM