A TOTAL of 1,461 individuals have withdrawn their applications for the Malaysia My Second Home (MM2H) programme from September last year until June this year, the Dewan Rakyat was told.
According to the Home Ministry, among the reasons given for the withdrawal of applications were the participants’ inability to commit to the MM2H programme, personal reasons and also the Covid-19 pandemic that has affected the finances of applicants.
“The Home Ministry denies that applicants withdrew from the programme due to their inability to comply with the latest (MM2H) terms, such as the length of new passes, processing fees and also a RM500 fee payment that will be charged once their current pass expires,” it said yesterday.
It said from Sept 16, 2021, up to June this year, the Immigration Department received 267 new applications under the MM2H programme, and there were now 53,356 individuals who were active under the MM2H programme and the Silver Hair programme.
The Home Ministry was responding to Hannah Yeoh (PH-Segambut) in a written reply dated Aug 3, who asked about updates on the MM2H programme and the number of applicants who withdrew from it.
The Silver Hair programme was introduced in 1987 for those who were at least 55 years old, and was originally offered only to nationals of Japan and Western European countries, with periods of stay ranging from five to 10 years.
In August last year, the Federal Government announced 10 new conditions for applicants to the programme, including RM1.5mil in liquid assets, RM40,000 in monthly offshore income, RM1mil in a Malaysian fixed deposit and an additional RM50,000 per dependant.
Existing MM2H pass holders only need to comply with two out of the 10 new conditions – an increase in the pass fee from RM90 to RM500 per year and the requirement to stay in the country for a minimum of 90 days a year.
The Sarawak MM2H programme, however, is unaffected by the change.
Among the state’s criteria are fixed deposits in local banks, from RM150,000 for individuals to RM300,000 for couples.
Only applicants between the ages of 40 and 50 are required to invest in properties worth at least RM600,000 for residential purposes.
Those aged above 30 could be considered if they are accompanying their children to study in Sarawak or seeking long-term medical treatment while a minimum stay of 15 days cumulative per year is required.
In January, Home Minister Datuk Seri Hamzah Zainudin said the stricter conditions set for MM2H had not deterred foreigners from wanting to take part in the programme, with 111 applications received since the new policy took effect.
