PETALING JAYA: After months of suspension of the Malaysia My Second Home (MM2H) programme, Datuk Seri Nancy Shukri said the review of the programme has been completed and can resume if it is approved by the Cabinet
The Tourism, Arts and Culture (Motac) Minister said the review of the conditions in the programme was completed by a consulting firm on Feb 28 before it was presented to the ministry last week.
“We have to ensure that the participants of the programme are clean from a security point of view. For us (the report) looks okay.
“God willing, we will bring this matter to the Cabinet and once it is approved, we can reactivate the programme. We need to be careful with (the implementation) of the programme. That is why we are working closely with the Home Affairs Ministry because its agency, the Immigration Department, looks (at this matter) from a security point of view, ” she told Sinar Harian.The MM2H was temporarily suspended around the middle of last year as Motac needed to review and re-evaluate the programme.
Since its inception in 2002, the government has given approval to some 40,000 foreigners to reside in Malaysia where participants were granted a social visit pass with multiple entries over a 10-year period and a renewable visa.
Meanwhile, the Malaysian My Second Home Consultants Association (MM2HCA) president Anthony Liew hopes that the programme would quickly be resumed as almost 90% of the agents in the industry have so far shut down the business due to the suspension.
MM2HCA represents 250 member companies around the country.
He also hoped that the programme would remain competitive in the region with a reasonable deposit for applicants to make, noting that Malaysia has to compete with Thailand which has a similar programme.
According to Liew, applicants above the age of 50 have to place a RM150,000 deposit into a Malaysian bank here, while applicants below the age of 50 have to deposit RM300,000.
Liew also agreed that the programme should not compromise on security, adding that there have been scam cases that have happened in the past.
“We agree on the issue of security because we hope to only receive good applicants who will bring in money to help boost the economy, ” he said when contacted.