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, next to the second bridge crossing from Johor to Singapore. 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. For various reasons it failed to attract many buyers, so it has a low occupancy rate.
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.
21 years old and above
- Age 21 to 49 – US$65,000
- Age 50 and above – US$32,000
None specified
Spouse (husband/wife) biological children/stepchildren/adopted children below 21 years old.; parents and parents-in-law.
- Must buy a property in the Forest City development.
- Cannot sell it for ten years
- Must buy from the developer not an existing owner.
Not allowed.
- Maximum up to 50%
- For property purchase, car deposit, education for children or medical expenses only.
10 years
RM3,000 (non-refundable)