MM2H News: Nearly 90 percent applications are approved?
MM2H has much higher requirements
The requirements for MM2H applicants were made much tougher starting August 2021. Here are all the MM2H new requirements. For example, the offshore income requirement which was RM10,000 per month was increased to RM40,000 per month. In other words, applicants should be retirees who can retire and not just partially retire. Fixed deposit requirement used to be RM150,000 to RM300,000 and this was increased to RM1 million. This is to ensure we attract only quality applicants. All these are supposed to have ‘killed’ MM2H or it seems so.
90 percent of all applications are approved
Article in thestar.com.my However, according to Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing, a total of 1,905 of the 2,164, or 88%, applications for the Malaysia My Second Home (MM2H) programme were approved between November 2021 and the end of September 2023.
He said, “To make the MM2H programme more interesting and competitive, the Tourism, Arts and Culture Ministry, together with the Home Ministry, is always revising the terms and conditions of this programme.” For the Premium Visa Programme (PVIP), Tiong said 57 applications were processed, 28 were approved, and the remaining 29 applications were recommended for approval.
“PVIP is under the purview of the Home Ministry and the Immigration Department.” Read more here Article in thestar.com.my
Approval is close to 90 percent for all applicants
Actually this is really a good news. It seems we are attracting the right group and this right group is also making the right decision because they know Malaysia is an attractive place to enjoy life. However, if I may add, I am also happy if we relax the requirements a little so that the pool of MM2H applicants become wider. Truth is, the more we have, the more spending they will do here in Malaysia. Else, why they apply for MM2H if it’s just to stay here few weeks every year?
I also think we should mandate that these applicants should purchase a property. I read from somewhere that not all the MM2H successful applicants buy a property here. Buying a property means they are seriously thinking of staying in Malaysia most of the time and not just making Malaysia a place to stay for few weeks every year. Let’s wait for the final relaxation announcements for MM2H then. Cheers.
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