KUALA LUMPUR: According to Datuk Seri Tiong King Sing, 1,905 out of 2,164 applications, or 88%, for the Malaysia My Second Home (MM2H) programme were approved between November 2021 and the end of September this year. The Tourism, Arts and Culture Minister stated that the terms and conditions of the MM2H programme are constantly being revised by the Tourism, Arts and Culture Ministry and the Home Ministry to enhance its appeal and competitiveness.
“The Premium Visa Programme (PVIP), which falls under the jurisdiction of the Home Ministry and the Immigration Department, processed a total of 57 applications. Of these, 28 were approved and the remaining 29 applications were recommended for approval,” Tiong explained in his written reply dated October 16.
In August 2021, the government announced new conditions for the MM2H programme. These included a requirement for applicants to have permanent savings of at least RM1 million and a declaration of liquid assets amounting to at least RM1.5 million. Additionally, MM2H applicants would need to demonstrate an offshore income of at least RM40,000 per month, which was increased from the previous requirement of RM10,000 per month.
During the presentation of Budget 2024 last Friday (October 13), Prime Minister Datuk Seri Anwar Ibrahim announced that the government had agreed to relax the existing conditions for MM2H applications in order to boost the influx of tourists and foreign investors to Malaysia.
