The Malaysian government has agreed to review the strict terms and conditions for the Malaysia My Second Home (MM2H) programme, following a significant drop in applicants due to tougher requirements imposed in 2021.
The review decision was made after a meeting between the Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing and Home Ministry Secretary-General Datuk Ruji Ubi.
The one-stop centre under Tourism Malaysia will provide recommendations for applications via a filtering process to assist individuals with processing their applications and collating documents for submission to the Home Ministry or the Immigration Department for the issuance of the MM2H pass.
The application process for the programme will be made more flexible, and a proposal on the visa on arrival (VOA) for visitors from China and India will be submitted to the cabinet for further action.
According to reports, the stricter conditions imposed have caused a 90% drop in the number of applicants, and potential applicants have opted for neighbouring countries that do not set such requirements.
The new conditions required applicants to have permanent savings of at least RM1 million and liquid assets of at least RM1.5 million, compared to savings of between RM300,000 and RM500,000 previously. They must now also show an offshore income of at least RM40,000 a month.
The MM2H programme is aimed at attracting long-term foreign residents, and the new conditions were introduced in 2021 after a freeze during the Covid-19 pandemic.
The MM2H Consultants Association has said that the new requirements are among the major reasons for the drop in applications, and fewer agencies are promoting and helping foreigners apply for the programme as they have been unable to sustain operational costs.
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