MM2H News: Now we have different categories!
Different categories for MM2H
I must say this is a good way to move forward. Now, it’s possible to be more flexible without the need to suspend the whole programme in the future. Different categories would also allow a different campaign to target different groups. In fact the MM2H agencies may even choose to specialise in a certain category too. MM2H programme will also be handled by authorised MM2H agencies by the Tourism, Arts and Culture Ministry under the Tourism Industry Act 1992.
The revision opens the MM2H programme to people aged 30 years and above, with applications to be processed exclusively through licensed MM2H agents authorised by the Tourism, Arts, and Culture Ministry under the Tourism Industry Act 1992.
The programme is now divided into three categories: Platinum, Gold, and Silver, each with its own set of requirements.
Here is the breakdown of the categories:
PLATINUM
In the Platinum category, MM2H applicants must meet specific financial prerequisites, including a fixed deposit of RM5 million (USD1.05 million).
Applicants can withdraw a maximum of 50 per cent of the amount after a year to purchase properties valued at RM1.5 million and above, for healthcare, and for tourism activities in the country.
This category of MM2H applicants is also eligible to apply for Permanent Resident (PR) status after obtaining their Platinum pass.
GOLD
Gold MM2H applicants must adhere to the set financial prerequisites, including a fixed deposit of RM2 million (USD420,800).
They are also allowed to withdraw a maximum of 50 per cent of the amount after a year to purchase properties valued at RM750,000 and above, for healthcare, and for spending on tourism activities.
The Gold MM2H pass is valid for 15 years, with Multiple Entry Visas (MEV) granted to the principal and dependents, and it can be renewed.
SILVER
Silver MM2H category applicants must have a fixed deposit of RM500,000 (USD105,000) as a financial prerequisite.
They can withdraw a maximum of 50 per cent of the amount after a year to purchase properties valued at RM750,000 and above, for healthcare, and for spending on tourism activities.
The Silver MM2H pass is valid for five years, with Multiple Entry Visas (MEV) granted to the principal and dependents, and it can be renewed.
Please refer here for the full article: Article in nst.com.my
The withdrawal for property purchase is a good term
Now, the MM2H participants will be encouraged to purchase a property from the property market. This will be using the fund they deposited. If we have 10,000 MM2H participants, this is a potential for a demand for 10,000 properties. I think this is a good requirement. I just hope all the state governments will do their very best to attract these participants to stay in their state instead of just having most o fthem residing in the few big cities. Let’s see how many will choose Ipoh. I do wish for more dynamism in Ipoh too.
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