I have lost track of the year when Malaysia My Second Home (MM2H) started. I think it’s a good programme because it gives these applicants a chance to live in one of the best places to live in the world. 🙂 Okay, one of the most affordable places in the world for retirees. To my country, it meant that more ‘investments’ are coming into Malaysia. Win-Win situation. So where do these applicants come from and what’s happening next for MM2H programme?
Article in edgeprop.my here. MM2H was started in 2002 and as at end-2017, it has attracted a total of 38,932 participants from as many as 130 countries as at end-2017. In 2017, the applicants approved nearly doubled from 3,347 approvals in 2016 versus 6,195 in 2017. Take a look at the image for the top 7 participating countries. Yes, we can see many applicants from advanced economies as well and there are definitely Singaporeans too. This is what Ministry of Tourism, Arts and Culture Malaysia (MoTaC) Datuk Haslina Abdul Hamid has in her mind for MM2H. She said it’s a good time to review some aspects of the programme, such as its financial requirements so it could attract better quality applicants to ensure that the Malaysian economy benefits.
Currently, the programme requires applicants aged below 50 years old to show proof of liquid assets worth a minimum of RM500,000 and offshore income of RM10,000 per month. For applicants aged 50 and above, they will need to show proof of RM350,000 in liquid assets and offshore income of RM10,000 per month to be eligible under the programme. Article in edgeprop.my here.
Malaysia is not just an affordable country but we are a friendly one as well. PLUS, that property that the MM2H participant bought will most probably be increasing in price too. The logic is simple, just compare it to the prices at the homes of the MM2H applicants. If we (our properties) are already more expensive, then we definitely cannot attract them to come here. Happy following.
written on 8 Dec 2018
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