Malaysia My Second Home Programme Requirements Are Now More Relaxed
Malaysia reintroduces its renowned programme for expatriates to reside in Malaysia My Second Home (MM2H) with more relaxed conditions. The Minister of Ministry of Tourism, Arts and Culture, Datuk Seri Tiong King Sing, recently announced the programme’s relaxed conditions. The additional condition of Malaysia My Second Home is to ease the application procedure. Many quarters, including participants, have criticised the previous MM2H application as cumbersome.
He stated that the new special edition contains more flexible and transparent application regulations. Tiong explained that the refreshed criteria coincided with the 50th anniversary of Malaysia’s diplomatic ties with China next year. He actively carried out discussions and promotional efforts during his recent visit to China. He noted that the Chinese tourism sector saw the change as fitting, considering the two countries’ anniversary.
According to Tiong, the refreshed conditions will be on a one-year trial period. After the trial ends, the government may streamline the requirements to suit the current demands. Coincidently, the MM2H programme is rolled out on Malaysia-China’s 50th anniversary, making it attractive to the Chinese tourism sector. However, MM2H welcomes applicants from around the world.
The More Relaxed Conditions
MM2H now has three packages: Platinum, Gold, and Silver, with respective criteria from which applicants can choose.
- Must have a fixed deposit of RM5 million. Platinum participants can withdraw half the amount after one year to purchase properties with a minimum price tag of RM1.5 million.
- Applicants can also use the withdrawn amount for healthcare and domestic tourism, the latest addition to the criteria.
- Can earn Permanent Resident status after obtaining their MM2H pass.
- Must have RM2 million in fixed deposit.
- Can purchase a property priced at RM750,000 and above after one year of being in MM2H.
- Applicants for this package will receive a 15-year Multiple Entry Visa (MEV).
- Must have a minimum of RM500,000 in fixed deposit
- Applicants for this package will receive a 5-year Multiple Entry Visa (MEV) with an option to renew.
Other general requirements are:
- Minimum age: 30 years old
- Minimum residing days in Malaysia: 60 days
- Participants aged 30 to 49 can complete the residency requirements separately or with their spouse or dependents.
Tiong further clarifies that the new additions are a “preliminary version” and that the Ministry will disclose the terms and conditions in stages.
Malaysia My Second Home Programme
MM2H was first presented in 2002 to encourage expats to retire or stay in Malaysia for an extended time, in line with the ‘Cuti-cuti Malaysia’ philosophy.
Eligible participants are awarded a social visit permit along with a multiple-entry visa issued by the Immigration Department, which is valid for ten years and renewed after that.
After rebranding in 2009, it expanded its target market to include high-net-worth individuals wishing to invest in Malaysia by starting businesses or cooperating with local entrepreneurs.
Business and Comfort of Home in Malaysia with 3E Accounting
Foreign business owners or working expatriates are usually concerned about residency wherever their work may take them. With the more relaxed condition of the Malaysia My Second Home Programme, expatriates can now reconsider their options to reside in Malaysia for a longer period. If you have queries about the best possibilities from MM2H and your business or work, contact us for clarified decision-making.