PUTRAJAYA – The Malaysia My Second Home (MM2H) programme will be reactivated with improvements to policies and application conditions so as to balance its security and economic aspects.
Home Ministry Secretary-General Datuk Wan Ahmad Dahlan Abdul Aziz said fresh applications will be processed and managed by the Immigration Department beginning October after all the legal processes are completed.
The cabinet on July 14 and 30 agreed to suggested improvements to MM2H policies, to assist in the implementation of the National Recovery Plan and revive the economy, he told a press conference here today.
“MM2H procedures will be improved with the creation of an online system for applications, processing and maintenance of the profile database of participants.”
He said among the improvements to be made is the setting of a ceiling for participant numbers, namely principals and dependants, at any one time, with not more than 1% of the Malaysian population.
“Only qualified applicants with no criminal records will be allowed to be part of the programme,” he said, adding that the government understands Malaysians’ concerns about the entry of non-citizens via MM2H.
Applicants must reside in Malaysia for at least 90 days a year to ensure they spend and contribute to the national economy by way of property rentals or purchases, healthcare services, insurance, education, food and drink, and domestic tourism, he said.
He said participants must also have an offshore income of at least RM40,000 a month, up from RM10,000 previously.
The new income conditions are more relevant as the government is targeting high-income participants with adequate capabilities. We also consider the expenses spent on children’s education at international schools, for instance, and a lifestyle matching their living standards.”
Applicants also need to have a fixed savings account containing RM1 million. Previously, the condition was set at RM150,000 for those above 50 and RM300,000 for those below 50.
Participants must make an asset declaration and prove that they own liquid assets with a value of at least RM1.5 million, compared with the previous RM350,000 and RM500,000, respectively, according to each category, said Wan Dahlan.
He said MM2H is now divided into two categories: those between 35 and 49, and 50 and above.
“The first category is to select participants of real quality, those who are more stable income-wise and have careers.”
He said the duration of MM2H’s long-term social visit pass – previously 10 years – has been changed to five years, which can be extended for another five and beyond.
The pass fee is increased to RM500 a year from RM90 previously, while a RM5,000 processing fee will be charged for the principal and RM2,500 for each dependant, he said.
“Previously, there was no processing fee. This fee is aimed at increasing the quality of services offered to MM2H participants.”
For pass renewals, change of principal and change in nationality, participants and their dependants must undergo security vetting and submit a letter of good conduct, he said.
He said the new policies apply to all new applicants, as well as extension applications by existing participants whose MM2H passes have ended or will end soon.
“This means that existing participants, if they are still keen to join the programme, can seek extensions, subject to the new conditions.
“A grace period of a year will be given so that participants can fulfil the new requirements.”
MM2H, introduced in 2002, allows foreigners to purchase property and live in Malaysia on a long-term basis. It was temporarily frozen in August last year to enable the Home Ministry and Tourism, Arts and Culture Ministry to conduct a comprehensive review.
The programme stimulated Malaysia’s economy with a cumulative gross value added income of RM11.89 billion from 2002 to 2019 through visa fees, property purchases, personal vehicle purchases, fixed deposits and monthly household expenditure, said Wan Dahlan.
He said the number of participants who have been approved stands at 57,478, including dependants of pass holders.
He stressed that the programme and participants’ entry into Malaysia are still subject to the health policies and standard operating procedures set by the National Security Council, and risk assessments by the Health Ministry.
The ban on travel from countries with a high Covid-19 caseload is still in effect, he added.
On September 7, the country barred entry for 23 nations that recorded 150,000 infections.
The countries are the United States, Brazil, India, Russia, Peru, Colombia, South Africa, Mexico, Spain, Argentina, Chile, Iran, the United Kingdom, Bangladesh, Saudi Arabia, Pakistan, France, Turkey, Italy, Germany, Iraq, the Philippines and Indonesia.
Present at the presser was Immigration Director-General Datuk Khairul Dzaimee Daud. – Bernama, August 11, 2021
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