PETALING JAYA: The government will set the requirements for the Malaysia My Second Home (MM2H) programme into three categories, says the Tourism, Arts and Culture Ministry.
Its minister Datuk Seri Tiong King Sing (pic) said each of the three categories - Platinum, Gold, and Silver - will demand a different amount of the permanent applicants’ savings.
"We will review the eligibility requirements to make them flexible and anyone can apply.
"To provide the foreigner a choice, I recommended three categories: Platinum, Gold, and Silver," he said after launching the Malaysia Budget and Business Hotel Association (MyBHA) 23rd anniversary dinner on Thursday (June 22).
The programme aims to attract long-term foreign residents, but new conditions were introduced in 2021 after a freeze during the Covid-19 pandemic.
Applicants must now have permanent savings of at least
RM1mil and liquid assets of RM1.5mil. Previously, they only needed savings of between RM300,000 and RM500,000.
They must now also show an offshore income of at least RM40,000 a month, up from RM10,000.
According to Tiong, his ministry and Tourism Malaysia will assist their applications through a MM2H one-stop centre.
The one-stop centre will assist applicants with processing their applications and collating documents for submission to the Home Ministry or the Immigration Department to issue the MM2H pass.
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