diff --git a/packages/qwik/package.json b/packages/qwik/package.json
index 0fb922b85a7..9c1b1ca4d01 100644
--- a/packages/qwik/package.json
+++ b/packages/qwik/package.json
@@ -18,7 +18,7 @@
     "kleur": "4.1.5",
     "prettier": "3.3.3",
     "vitest": "2.1.4",
-     "ignore": "^5.3.1"
+    "ignore": "5.3.1"
   },
   "engines": {
     "node": "^18.17.0 || ^20.3.0 || >=21.0.0"
diff --git a/packages/qwik/src/cli/migrate-v2/replace-package.ts b/packages/qwik/src/cli/migrate-v2/replace-package.ts
index 1f9b9d04ca7..86826e52794 100644
--- a/packages/qwik/src/cli/migrate-v2/replace-package.ts
+++ b/packages/qwik/src/cli/migrate-v2/replace-package.ts
@@ -1,25 +1,28 @@
 import { basename } from 'path';
 import { isBinaryPath } from './tools/binary-extensions';
 import { visitNotIgnoredFiles } from './tools/visit-not-ignored-files';
-import { readFileSync } from 'fs';
+import { readFileSync, writeFileSync } from 'fs';
 import { log } from '@clack/prompts';
 
-function writeFileSync(path: string, content: string) {
+function updateFileContent(path: string, content: string) {
+  writeFileSync(path, content);
   log.info(`"${path}" has been updated`);
 }
 
 export function replacePackage(
   oldPackageName: string,
-  newPackageName: string
+  newPackageName: string,
+  newPackageVersion: string
 ): void {
-  replacePackageInDependencies(oldPackageName, newPackageName);
+  replacePackageInDependencies(oldPackageName, newPackageName, newPackageVersion);
 
   replaceMentions(oldPackageName, newPackageName);
 }
 
 function replacePackageInDependencies(
   oldPackageName: string,
-  newPackageName: string
+  newPackageName: string,
+  newPackageVersion: string
 ) {
   visitNotIgnoredFiles('.', (path) => {
     if (basename(path) !== 'package.json') {
@@ -35,24 +38,18 @@ function replacePackageInDependencies(
         packageJson.optionalDependencies ?? {},
       ]) {
         if (oldPackageName in deps) {
-          deps[newPackageName] = deps[oldPackageName];
+          deps[newPackageName] = newPackageVersion;
           delete deps[oldPackageName];
         }
       }
-      writeFileSync(path, JSON.stringify(packageJson, null, 2));
+      updateFileContent(path, JSON.stringify(packageJson, null, 2));
     } catch (e) {
-      console.warn(
-        `Could not replace ${oldPackageName} with ${newPackageName} in ${path}.`
-      );
+      console.warn(`Could not replace ${oldPackageName} with ${newPackageName} in ${path}.`);
     }
   });
 }
 
-
-function replaceMentions(
-  oldPackageName: string,
-  newPackageName: string
-) {
+function replaceMentions(oldPackageName: string, newPackageName: string) {
   visitNotIgnoredFiles('.', (path) => {
     if (isBinaryPath(path)) {
       return;
@@ -76,10 +73,7 @@ function replaceMentions(
         return;
       }
 
-      writeFileSync(
-        path,
-        contents.replace(new RegExp(oldPackageName, 'g'), newPackageName)
-      );
+      updateFileContent(path, contents.replace(new RegExp(oldPackageName, 'g'), newPackageName));
     } catch {
       // Its **probably** ok, contents can be null if the file is too large or
       // there was an access exception.
diff --git a/packages/qwik/src/cli/migrate-v2/run-migration.ts b/packages/qwik/src/cli/migrate-v2/run-migration.ts
index cecebd59383..f1bbd736a38 100644
--- a/packages/qwik/src/cli/migrate-v2/run-migration.ts
+++ b/packages/qwik/src/cli/migrate-v2/run-migration.ts
@@ -1,15 +1,17 @@
-import { confirm, intro, isCancel } from '@clack/prompts';
+import { confirm, intro, isCancel, log } from '@clack/prompts';
 import type { AppCommand } from '../utils/app-command';
-import { bgMagenta } from 'kleur/colors';
+import { bgMagenta, green } from 'kleur/colors';
 import { bye } from '../utils/utils';
 import { replacePackage } from './replace-package';
+import { updateDependencies } from './update-dependencies';
+import { versions } from './versions';
 
 export async function runV2Migration(app: AppCommand) {
   intro(
     `✨  ${bgMagenta(' This command will migrate your Qwik application from v1 to v2 \n')}` +
       `This includes the following: \n` +
-    //   TODO: package names
-      `  - "@builder.io/qwik", "@builder.io/qwik-city" packages will be rescoped to "@qwik.dev/core" and "@qwik.dev/qwik-city" \n` +
+      //   TODO(migrate-v2): package names
+      `  - "@builder.io/qwik", "@builder.io/qwik-city" packages will be rescoped to "@qwik.dev/core" and "@qwik.dev/city" \n` +
       `  - related dependencies will be updated \n`
   );
   const proceed = await confirm({
@@ -22,11 +24,12 @@ export async function runV2Migration(app: AppCommand) {
   }
 
   try {
-      replacePackage('@builder.io/qwik', '@qwik.dev/qwik');
-      replacePackage('@builder.io/qwik-city', '@qwik.dev/city');
+    replacePackage('@builder.io/qwik-city', '@qwik.dev/city', versions['@qwik.dev/city']);
+    replacePackage('@builder.io/qwik', '@qwik.dev/qwik', versions['@qwik.dev/qwik']);
+    await updateDependencies();
+    log.success(`${green(`Your application has been successfully migrated to v2!`)}`);
   } catch (error) {
-    console.log(error);
-    throw error
+    console.error(error);
+    throw error;
   }
-
 }
diff --git a/packages/qwik/src/cli/migrate-v2/tools/visit-not-ignored-files.spec.ts b/packages/qwik/src/cli/migrate-v2/tools/visit-not-ignored-files.spec.ts
deleted file mode 100644
index 8c9f85310c5..00000000000
--- a/packages/qwik/src/cli/migrate-v2/tools/visit-not-ignored-files.spec.ts
+++ /dev/null
@@ -1,56 +0,0 @@
-import { createTree } from 'nx/src/generators/testing-utils/create-tree';
-import type { Tree } from 'nx/src/generators/tree';
-import { visitNotIgnoredFiles } from './visit-not-ignored-files';
-
-describe('visitNotIgnoredFiles', () => {
-  let tree: Tree;
-
-  beforeEach(() => {
-    tree = createTree();
-  });
-
-  it('should visit files recursively in a directory', () => {
-    tree.write('dir/file1.ts', '');
-    tree.write('dir/dir2/file2.ts', '');
-
-    const visitor = jest.fn();
-    visitNotIgnoredFiles(tree, 'dir', visitor);
-
-    expect(visitor).toHaveBeenCalledWith('dir/file1.ts');
-    expect(visitor).toHaveBeenCalledWith('dir/dir2/file2.ts');
-  });
-
-  it('should not visit ignored files in a directory', () => {
-    tree.write('.gitignore', 'node_modules');
-
-    tree.write('dir/file1.ts', '');
-    tree.write('dir/node_modules/file1.ts', '');
-    tree.write('dir/dir2/file2.ts', '');
-
-    const visitor = jest.fn();
-    visitNotIgnoredFiles(tree, 'dir', visitor);
-
-    expect(visitor).toHaveBeenCalledWith('dir/file1.ts');
-    expect(visitor).toHaveBeenCalledWith('dir/dir2/file2.ts');
-    expect(visitor).not.toHaveBeenCalledWith('dir/node_modules/file1.ts');
-  });
-
-  it.each(['', '.', '/', './'])(
-    'should be able to visit the root path "%s"',
-    (dirPath) => {
-      tree.write('.gitignore', 'node_modules');
-
-      tree.write('dir/file1.ts', '');
-      tree.write('dir/node_modules/file1.ts', '');
-      tree.write('dir/dir2/file2.ts', '');
-
-      const visitor = jest.fn();
-      visitNotIgnoredFiles(tree, dirPath, visitor);
-
-      expect(visitor).toHaveBeenCalledWith('.gitignore');
-      expect(visitor).toHaveBeenCalledWith('dir/file1.ts');
-      expect(visitor).toHaveBeenCalledWith('dir/dir2/file2.ts');
-      expect(visitor).not.toHaveBeenCalledWith('dir/node_modules/file1.ts');
-    }
-  );
-});
diff --git a/packages/qwik/src/cli/migrate-v2/tools/visit-not-ignored-files.ts b/packages/qwik/src/cli/migrate-v2/tools/visit-not-ignored-files.ts
index eadcd32baa2..6312e8f1a1f 100644
--- a/packages/qwik/src/cli/migrate-v2/tools/visit-not-ignored-files.ts
+++ b/packages/qwik/src/cli/migrate-v2/tools/visit-not-ignored-files.ts
@@ -2,25 +2,19 @@ import { existsSync, lstatSync, readFileSync, readdirSync } from 'fs';
 import ignore from 'ignore';
 import { join, relative } from 'path';
 
-/**
- * Utility to act on all files in a tree that are not ignored by git.
- */
-export function visitNotIgnoredFiles(
-  dirPath: string,
-  visitor: (path: string) => void
-): void {
+/** Utility to act on all files in a tree that are not ignored by git. */
+export function visitNotIgnoredFiles(dirPath: string, visitor: (path: string) => void): void {
   let ig: ReturnType<typeof ignore> | undefined;
   if (existsSync('.gitignore')) {
     ig = ignore();
     ig.add('.git');
     ig.add(readFileSync('.gitignore', 'utf-8'));
   }
-  // TODO: test how it works if invoked not from the workspace root
   dirPath = relative(process.cwd(), dirPath);
   if (dirPath !== '' && ig?.ignores(dirPath)) {
     return;
   }
-  for (const child of readdirSync(dirPath)) {
+  for (const child of readdirSync(join(process.cwd(), dirPath))) {
     const fullPath = join(dirPath, child);
     if (ig?.ignores(fullPath)) {
       continue;
diff --git a/packages/qwik/src/cli/migrate-v2/update-dependencies.ts b/packages/qwik/src/cli/migrate-v2/update-dependencies.ts
new file mode 100644
index 00000000000..5312ccd8eb5
--- /dev/null
+++ b/packages/qwik/src/cli/migrate-v2/update-dependencies.ts
@@ -0,0 +1,26 @@
+import { readPackageJson, writePackageJson } from './../utils/utils';
+// import { getPackageManager } from './../utils/utils';
+// import { installDeps } from '../utils/install-deps';
+import { versions } from './versions';
+
+export async function updateDependencies() {
+  // TODO(migrate-v2): rely on workspaceRoot instead?
+  const packageJson = await readPackageJson(process.cwd());
+  const devDependencies = (packageJson.devDependencies ??= {});
+
+  // TODO: this logic should be enhanced to check in both dependencies and devDependencies
+  for (const key of Object.keys(devDependencies)) {
+    if (Object.prototype.hasOwnProperty.call(versions, key)) {
+      // for now only updating existing dependencies if they exist in root package.json
+      devDependencies[key] = versions[key as unknown as keyof typeof versions];
+    }
+  }
+
+  await writePackageJson(process.cwd(), packageJson);
+  // TODO(migrate-v2): not installing dependencies because we don't have correct versions set
+  // const { install } = installDeps(getPackageManager(), process.cwd());
+  // const passed = await install;
+  // if (!passed) {
+  //   throw new Error('Failed to install dependencies');
+  // }
+}
diff --git a/packages/qwik/src/cli/migrate-v2/versions.ts b/packages/qwik/src/cli/migrate-v2/versions.ts
new file mode 100644
index 00000000000..80d758c2c5c
--- /dev/null
+++ b/packages/qwik/src/cli/migrate-v2/versions.ts
@@ -0,0 +1,5 @@
+export const versions = {
+  '@qwik.dev/qwik': '2.0.0',
+  '@qwik.dev/city': '2.0.0',
+  'eslint-plugin-qwik': '2.0.0',
+};
diff --git a/packages/qwik/src/cli/run.ts b/packages/qwik/src/cli/run.ts
index 507aae9a2cd..48ecbedf2c8 100644
--- a/packages/qwik/src/cli/run.ts
+++ b/packages/qwik/src/cli/run.ts
@@ -49,10 +49,10 @@ const COMMANDS = [
   {
     value: 'migrate-v2',
     label: 'migrate-v2',
-    //   TODO: package names
+    // TODO(migrate-v2): package names
     hint: 'Rescopes the application from @builder.io/* namespace to @qwik.dev/*',
     run: (app: AppCommand) => runV2Migration(app),
-    showInHelp: true,
+    showInHelp: false,
   },
   {
     value: 'help',
diff --git a/pnpm-lock.yaml b/pnpm-lock.yaml
index d70347fe321..46dd8352a31 100644
--- a/pnpm-lock.yaml
+++ b/pnpm-lock.yaml
@@ -566,7 +566,7 @@ importers:
         specifier: workspace:*
         version: link:../qwik-dom
       ignore:
-        specifier: ^5.3.1
+        specifier: 5.3.1
         version: 5.3.1
       image-size:
         specifier: 1.1.1