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The Malaysian government has introduced substantial revisions to its Malaysia My Second Home (MM2H) program, addressing concerns and making the program more flexible. Here are the key changes:
Three-Tiered Program: The MM2H program now comprises Silver, Gold, and Platinum tiers, distinguished by fixed deposit requirements and visa durations.
Silver: RM 500,000 (5 years, renewable)
Gold: RM 2 million (15 years, renewable)
Platinum: RM 5 million (Permanent residency)
Deposit Flexibility: Applicants can withdraw up to half of their deposits for real estate, medical, or tourism expenses. Minimum real estate purchase prices vary based on the tier.
Permanent Residency Opportunity: Those depositing RM 5 million (approximately US$1.1 million) can obtain permanent residency, a novel feature in Malaysia's residency by investment landscape.
Universal Changes Across Tiers:
Minimum Age: Reduced to 30 years old (from 35).
Dependents: Parents and in-laws over 60 can be included, and the maximum age for children is raised to 34.
Annual Physical Presence: Adjusted based on age, providing flexibility for the main applicant.
Income Requirement Update: The previous MYR 40,000 offshore income requirement appears to have been removed.
Evaluation Period: The revised program will run as a trial for one year, allowing for adjustments based on evolving circumstances.
Market stakeholders have responded with mixed views. Some anticipate increased interest due to the program's simplicity and inviting nature, while others express skepticism about the promised permanent residency status, highlighting Malaysia's historical restrictiveness in this regard.
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