25 August 2021
The long awaited Malaysia My Second Home “MM2H” has seen a beacon of light injected with the recent announcement of Datuk Wan Ahmad Dahlan Abdul Aziz, Home Ministry Secretary-General, on the re-activation of the MM2H Programme as part of the initiative to boost the economy under the National Recovery Plan. The programme which was previously under the purview of the Ministry of Tourism, Arts and Culture of Malaysia will now be under the purview of the Immigration Department of Malaysia commencing from October 2021.
The re-activation of the MM2H Programme has brought about some drastic changes to the initial MM2H Programme in Malaysia as follows :
Previous conditions |
Current conditions |
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Participants must reside in Malaysia for at least 90 cumulative days in a year to ensure they truly contribute to the Malaysian economy in terms of property rentals or purchases, healthcare services, insurance, education, food, and drinks as well as domestic tourism. Participants or spouses who are aged 35 – 49 are subject to an additional requirement of RM50,000 in fixed deposit required for each dependant – wife, children, parents, or in-laws.
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Participants were required to have an offshore monthly income of at least RM10,000 |
Participants are required to have an offshore monthly income of at least RM40,000. |
For participants above 50 years old, the fixed savings account must be RM150,000. For 50 years old and below, the fixed savings account must be RM300,000.
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Participants must have fixed deposit accounts with a minimum of RM1mil, where 50% maximum withdrawal from a principal amount is allowed for the purposes of buying property, health services and children’s education. |
The categories were divided into the participants who were of the age of 50 years old and above and those aged below 50 years. Previously, the minimum age of the participant was 21 years old. |
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Participants were required to have liquid assets of RM350,000 and RM500,000 according to their respective categories. |
Participants need to make an asset declaration and prove that they own liquid assets of at least RM1.5m. |
MM2H Programme LTSVP was granted for 10 years. |
The validity period of the MM2H programme LTSVP is now set to 5 years and can be extended for another 5 years subject to the criteria of the application. |
No processing fee was charged. |
The rate of the pass fees is charged at RM500 a year. RM5,000 processing fee will be charged for the principal and RM2,500 will be charged for each dependant. |
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For renewal of passes, change of principals, change in nationality, the participants and the dependants must undergo and pass security vetting and must submit a Letter of Good Conduct for the participants and the dependants. |
For further information, please contact:
Suganthi Singam, Partner, Shearn Delamore & Co
suganthi@shearndelamore.com