KOTA KINABALU: The state government has given an initial nod for a more attractive Sabah-Malaysia My Second Home programme.
State Tourism, Culture and Environment Minister Datuk Christina Liew disclosed that the state Cabinet had in principle approved the policies for the implementation of the programme in the state.
“The state Cabinet has approved the policies that 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.
Liew noted that one of the prerequisites in the terms and conditions was for the potential participants to open an account with any bank with a fixed deposit of RM200,000.
The applicant would only be eligible to buy properties (apartments) at a minimum value of RM600,000, she said yesteday.
“The other terms and conditions include a minimum stay of 30 days a year and the approved duration for an individual or family, which is to be 5+5 years for a stay in Sabah only.
“The applicants must have a good conduct certificate from their country of origin and a medical check-up certificate,” she added.
Liew said that with a unique and competitive Second Home programme promoted by the state, Sabah was looking at high-end participants that would benefit the state’s economy.
She is optimistic that the programme will 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 property development and the tourism industry,” she added.