PUTRAJAYA: Authorities have received a total of 111 applications to date for the Malaysia My Second Home (MM2H) programme under the new policy, an indication the programme is still popular despite stricter conditions.
Home Minister Datuk Seri Hamzah Zainudin said this figure was about the same as the average number of applications received under the old conditions.
"This shows that despite the conditions being stricter, foreigners are not shying away from the MM2H programme," he said, pointing out that the average number of applications before were about 100 a month.
He was speaking to reporters after launching the MM2H executive lounge, located at the Immigration Department headquarters on Friday (Jan 21).
Of the new applications, 12 principal applicants had been given conditional approval. while another three are now successful MM2H participants.
Hamzah pointed out that if 1,000 new applications requiring a fixed deposit of RM1mil were approved in a year, it would mean RM1bil in fixed deposit for the country, compared to RM300mil before when the fixed deposit amount required was RM300,000.
In August last year, the government had announced 10 new conditions for those interested to take part in the programme, including RM1.5mil of liquid assets, RM40,000 monthly offshore income, RM1mil in Malaysian fixed deposit and additional RM50,000 per dependent.
Existing MM2H pass holders only need to comply with two out of the 10 new conditions - increase in fee pass from RM90 to RM500 per year and the requirement to stay in the country for a minimum of RM90 days a year.
According to official records, there were 55,010 MM2H participants comprising both principal pass holders, as well as their dependents.
MM2H executive lounge provides participants with services such as a dedicated place to pick up their passes and for them to seek advice from officials on the programme.
The Immigration Department, which had taken over the management of the programme from the Tourism, Arts and Culture Ministry had also facilitated applications where forms and payments could now be submitted via online.
Applications for MM2H were frozen in 2020 when Malaysia closed its borders due to the pandemic and revived, with new conditions in place late last year.
