KOTA KINABALU: A more attractive Sabah-Malaysia My Second Home programme (MM2H) has been given an initial nod by the state government, says Datuk Christina Liew.
The Sabah Culture and Environment Minister said the state cabinet had in principle approved the conditions for the implementation of the (MM2H) here.
"The state Cabinet has approved the policies which govern the prerequisites for participation in the programme and these include the age requirement, medical certification and a fixed deposit account in Sabah," she said on Thursday (Feb 2).
She said a fixed deposit of RM200,000 along with a bank account with any bank were among the conditions.
Meanwhile, applicants will only be eligible to buy property (apartments) worth a minimum of RM600,000 and above, she said.
"There must be a minimum stay of 30 days a year and the approved duration for an individual or family is for 5+5 years in Sabah only.
"The applicants must have a good conduct certificate from their country of origin and a medical check-up certificate," she said.
Liew said the unique and competitive MM2H programmes were to attract high-end participants, who would benefit the state's economy.
She was optimistic the programme would attract participants who fulfil the qualifying criteria.
"It is anticipated that these participants will create a significant impact on the State's economy, especially in real property development and the tourism industry," she added.
