More Chinese eyeing MM2H, but requirements too strict

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The number of Chinese enquiring about the Malaysia My Second Home (MM2H) programme has multiplied since that country reopened its borders, say consultants.

They said enquiries had doubled from December last year.

In Sarawak, where the MM2H programme only requires applicants to have a fixed deposit of RM300,000 for couples and RM150,000 for singles (instead of RM1 million for applicants to Peninsular Malaysia), some 10 to 15 enquiries were received every month.

Sarawak-based Aramaic Borneo (MM2H) Sdn Bhd director Teresa Chai said that about 10 to 15 Chinese nationals sought information each month about the programme in Sarawak in the fourth quarter of last year.

“After China reopened in January, my company has been getting about 30 enquiries per month,” she said.

Chai was also of the view that Sarawak would get “competition” from Sabah as foreigners were keen on the laidback lifestyle of its islands.

MM2H consultant Patrick Ho said that since January, many Chinese had asked how to apply for the programme.

However, he acknowledged that they had yet to put in their applications.

“The number of Chinese people interested in the programme has increased significantly. However, many of them are still in the wait-and-see mode, as the requirements are too stringent.

“We hope the government will consider lowering the requirements so that more foreigners will consider moving to Malaysia,” he said.

Malaysia My Second Home Consultants Association president Anthony Liew said his own agency had received just one application each month last year.

“But in January this year, there were three applications,” he said, adding that other agents were also receiving numerous enquiries from Chinese nationals. – The Star