PETALING JAYA: In a significant development, the Tourism, Arts and Culture Ministry has unveiled a revamped version of the Malaysia My Second Home (MM2H) programme by introducing a three-tiered system.
Minister Datuk Seri Tiong King Sing said under the new system, applicants will be classified into different groups based on their eligibility.
The type of entry visas available will also vary according to their designated categories.
“The objective is to simplify the often criticised MM2H application procedures by introducing more flexibility and clarity,” said Tiong, who is on a working trip to China.
This follows bilateral discussions and promotional activities with Chinese platforms during the minister’s visit, focusing on collaborative marketing efforts.
He said the unveiling aligns strategically with the upcoming 50th anniversary of diplomatic relations between Malaysia and China in 2024, positioning the MM2H programme as a special gift to celebrate this milestone.
Tiong expressed optimism that the revamp would attract a wider pool of applicants, fostering global interest in Malaysia as a second home destination.
The new MM2H programme will be on a trial run for one year and remains open to adjustments based on evolving circumstances, ensuring its continued relevance and effectiveness, he said in a statement yesterday.
Under the new procedures, the age requirement has been lowered to 30 and above, opening doors for a wider group of individuals seeking to call Malaysia their second home.
Under the revised programme, applications can only be submitted through licensed MM2H agents accredited by the ministry under the Tourism Industry Act 1992 (Act 482).
One significant change is expanding the list of dependants eligible.
Currently, it includes a spouse (wife/husband), biological child/stepchild/adopted child under 21 and disabled child, certified by a medical professional.
The updated programme has been extended to those dependants aged between 21 and 34, who are not working or married in Malaysia.
Parents or parents-in-law are also eligible as dependants.
To cater to diverse financial situations, the MM2H programme offers the three-tiered system where under the Platinum tier, participants must have a fixed deposit (FD) of RM5mil (US$1.05mil).
After one year, a maximum withdrawal of 50% is allowed for property purchase (with a minimum value of RM1.5mil and above), healthcare and domestic travel within Malaysia.
The Gold tier sets the FD requirement at RM2mil (US$420,800) with similar withdrawal provisions for property purchases (minimum value of RM750,000 and above), healthcare and domestic travel.
For those seeking a more affordable option, the Silver tier requires a fixed deposit of RM500,000 (US$105,000), allowing a maximum withdrawal of 50% after one year for property purchases, healthcare and domestic travel within Malaysia.
Irrespective of the chosen tier, all participants must fulfil the minimum stay requirement of residing in Malaysia for a cumulative total of 60 days annually.
