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The stricter MM2H has received 111 new applications

The stricter MM2H has received 111 new applications. MM2H stands for Malaysia My Second Home.

Briefly, MM2H applicants today and MM2H applicants a few years ago face different requirements yeah. Here are the latest requirements which are much higher when compared to MM2H requirements before October 2021. Click here to read. One very distinct example of this difference? Previously, applicants need to have at least RM150,000 (above 50 years old) or RM300,000 (below 50 years old) in fixed savings account but today, applicants must have RM1,000,000 in fixed savings account.

In fact, many industry players said that with this new rule, Malaysia can forget about attracting any new applicants since if the applicant really does have so much to put into fixed deposit savings account, this applicant could apply elsewhere and not necessarily to Malaysia under MM2H. What has happened since then?

Here’s the latest news: Article in theedgemarkets.com The Malaysia My Second Home (MM2H) programme, which was reactivated with stricter conditions from November 2021, has received 111 new applications according to Home Minister Datuk Seri Hamzah Zainudin. Out of these, 15 has been approved and 3 of the applicants are already in Malaysia.

He said, “The remaining applications are being processed because this programme requires complete documents. There is a delay because some application are incomplete.” Hamzah said that since its introduction in 2002, there are 55,010 active MM2H pass holders, of whom 27,285 are principal pass holders. Here’s the article: Article in theedgemarkets.com

There are applicants, just need to find and tell them WHY Malaysia

3 months ago, my good friend, Ms. W also told me that it will be much harder to attract new applicants with the new MM2H requirements. I told her that ‘harder to do’ is not impossible. Plus, the fact that everyone saying the same thing also meant that if she could do it successfully moving forward, she would be able to be more dominant since many others would be dropping out of the MM2H business.

Most Liveable and Best for Retirement are not the same yeah

Google for Most Liveable and I do not think Malaysia is featured within any top 10 lists. Most of the countries within this listing would be fully developed nations with first class facilities. It also meant that the cost of living at these places are far higher when compared to the ones under the Best for Retirement lists. Just google for it and one recent one put Malaysia at the 15th place worldwide. Not too bad but we were once at the top. There were also comments that this drop in raking was due to MM2H.

Guys ah… Best for Retirement does NOT change just because of new MM2H requirements yeah. That’s policy and has got nothing to do with lots of awesome beaches, forests, recreation places, islands, malls etc. Nothing of those changes just because of MM2H new policy yeah.

We are definitely still super duper place as a retirement place. However, there may be fewer applications today, that’s all. Happy participating in MM2H yeah. To all applicants, you are definitely choosing a good place.

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Next suggested article: Property as a key retirement asset is no longer true? 

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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