MM2H news: Current requirements and the positive comments from Budget 2024
MM2H revving up?
Too many people said the government ‘killed’ the MM2H programme after it increased the requirements to applicants tremendously. At this moment, nothing has changed yet. However, it does seem that there are more action now.
A good friend was asking a close friend to join her MM2H agency as a consultant. My close friend has to attend a training which was many hours and caused her to inform me that I can only have dinner with her at 7pm instead of 630pm I proposed. According to this good friend, MM2H action has been cold for some time but from how she was persuading my close friend to join her, it does seem that all these will be heating up again.
Then came the Budget 2024 announcement where Prime Minister Datuk Seri Anwar said this, “The improvement of MM2H is expected to increase investment activities in the Malaysian financial market and the country’s real estate industry.”
In terms of actual requirements, please refer below:
Info Source: Jabatan Imigresen Malaysia on MM2H requirements
Introduction to Malaysia My Second Home (MM2H)
Malaysia My Second Home (MM2H) Programme is basically a unique programme offered by the Government of Malaysia for foreigners and expats worldwide who wish to apply for a 5 years (renewable) long term pass in Malaysia. The programme is open to citizens of all countries recognized by Malaysia regardless of race, religion, or gender.
Malaysia My Second Home (MM2H) Programme has been reactivated with several amendments made to the policy:
- Monthly income required to qualify is revised from RM10,000 to RM40,000 a month.
- Main applicant need to prove his/her liquid assets amounting minimum of RM1,500,000 in order to apply under MM2H Programme.
- The fixed deposit requirement has been increased to RM1,000,000. Applicant age 35 to 49 year old with dependent, must deposit an additional amount of RM50,000 for each dependent into the fixed deposit. The applicant is allowed to withdraw up to 50% from the fixed deposit after one year for the purposes of education, healthcare and purchasing house.
- The MM2H’s Pass holder and /or their respective spouses shall reside in Malaysia for at least 90 days (cumulatively) in a year
- The minimum age of main applicant is increased from 21 to 35 years old
- Government fee(s) are also being revised. The new annual pass fee will be RM500 from RM90 previously and there will be a processing fee charge by immigration department of RM5,000 for the principal and RM2,500 for each dependent upon approval.
- All new MM2H applications are to be submitted online.
Do visit Imigresen Malaysia website here: Jabatan Imigresen Malaysia on MM2H requirements
Malaysia is a much better country than many yeah
I do not wish to comment on the few countries they always say has a lower requirements than Malaysia and that the foreigners would definitely choose those few versus Malaysia. If they did, then I wish them all the best lah. If only value is seen as similar to price, we cannot argue lah. Just let them be and continue attracting those who see value in Malaysia.
Against some of these countries? Malaysia has a nice weather (this beats many), it has world class beaches (really world class, not something built), it has UNESCO Heritage sites (real ones, both cities and even nature), our food is second to none (hahahaha… to any country claiming whatever, just eat your own and don’t need come here lah) and last but not least, hey we are Malaysians yeah. We are used to different cultures and we do not see tourists as strangers but as friends from different backgrounds.
Plus, we have no natural disasters and our jam can be skipped if you are willing to walk and take the public transport. If you dare to tell me any country in this world which has public transport and the people do not need to walk at all, then you are lying. At least it’s a few hundred metres of walk typically. Meanwhile in Malaysia, even when we drive, we like to park just a few steps away from the shop. See what I mean by convenience versus walking a few hundred metres?
Actually there’s no ending to all these advantages and benefits lah but if you are thinking of MM2H versus some other countries’ program and you are fixed on just the fact that our requirements are tighter, I rest my case lah. Decision is yours to make anyway. Cheers.
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