PUTRAJAYA: Authorities have acquired a complete of 111 applications to this point for the Malaysia My Second Home (MM2H) programme underneath the brand new coverage, a sign the programme is still widespread regardless of stricter circumstances.
Home Minister Datuk Seri Hamzah Zainudin mentioned this determine was about the identical as the typical variety of applications acquired underneath the outdated circumstances.
“This reveals that regardless of the circumstances being stricter, foreigners usually are not shying away from the MM2H programme,” he mentioned, stating that the typical variety of applications earlier than had been about 100 a month.
He was talking to reporters after launching the MM2H government lounge, situated on the Immigration Department headquarters on Friday (Jan 21).
Of the brand new applications, 12 principal candidates had been given conditional approval. whereas one other three are actually profitable MM2H contributors.
Hamzah identified that if 1,000 new applications requiring a hard and fast deposit of RM1mil had been authorised in a yr, it might imply RM1bil in fastened deposit for the nation, in comparison with RM300mil earlier than when the fastened deposit quantity required was RM300,000.
In August final yr, the federal government had introduced 10 new circumstances for these to participate within the programme, together with RM1.5mil of liquid belongings, RM40,000 month-to-month offshore revenue, RM1mil in Malaysian fastened deposit and extra RM50,000 per dependent.
Existing MM2H go holders solely have to adjust to two out of the ten new circumstances – enhance in price go from RM90 to RM500 per yr and the requirement to remain within the nation for no less than RM90 days a yr.
According to official information, there have been 55,010 MM2H contributors comprising each principal go holders, in addition to their dependents.
MM2H government lounge gives contributors with providers similar to a devoted place to choose up their passes and for them to hunt recommendation from officers on the programme.
The Immigration Department, which had taken over the administration of the programme from the Tourism, Arts and Culture Ministry had additionally facilitated applications the place types and funds may now be submitted by way of on-line.
Applications for MM2H had been frozen in 2020 when Malaysia closed its borders because of the pandemic and revived, with new circumstances in place late final yr.