KUALA LUMPUR – Putrajaya has backed down from the 10 new regulations imposed on Malaysia My Second Home (MM2H) pass holders, who now need to comply with only two conditions, the Dewan Rakyat was told today.
Home Minister Datuk Seri Hamzah Zainudin (Larut-BN) said existing pass holders will have to comply with the fee increase from RM90 to RM500, and the requirement for them to stay in the country for a minimum of 90 days a year.
He reiterated that the government wants to ensure that those who are qualified for the initiative are of good quality and can positively impact the economy.
Hamzah was asked about the matter during his 12th Malaysia Plan debate.
Last month, the minister was adamant that the government would not review the new, more stringent conditions for the MM2H programme.
He told the lower house, however, that Putrajaya would consider some flexibilities for existing pass holders.
The programme, which ceased in 2019, is set for reactivation next month.
Among the changes include increasing applicants’ fixed deposit from RM300,000 to RM1 million; increased offshore income requirement from RM10,000 to RM40,000; requirement for RM1.5 million in liquid assets; and, a revised visa fee from RM90 to RM500 per year on top of a RM5,000 processing fee.
Hamzah had said the decision to tighten the conditions was also because many pass holders were found to abuse their privilege by using Malaysia as a transit point for criminal activities.
“They are conducting activities that may cause security issues. As such, our focus is to ensure safety. As for foreigners who genuinely want to help our economy, let them be of quality. What’s the problem with that?”
Additionally, he said, amendments had to be made as the original conditions were drafted in 2002, when the programme was first introduced. – The Vibes, October 5, 2021
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