Stricter new criteria that participants have to meet in order to qualify for the MM2H programme.
The Malaysia My Second Home (MM2H) programme, which allows foreigners to stay in the country on a long-term basis, is back after being suspended for over a year.
In one of its final acts in government, the Perikatan Nasional-led administration announced the reintroduction of MM2H but with some controversial changes. There are now stricter rules and criteria for existing MM2H holders and potential holders.
- Must stay at least 90 days (cumulative) in a year
- Must have an offshore income of at least RM40,000 a month, up from the previous RM10,000 per month
- Must now have permanent savings of at least RM1 million and a declaration of liquid assets of at least RM1.5 million, while previously only needed to have savings of between RM300,000 and RM500,000
- Tenure of renewable multiple-entry visa reduced to five years from 10 years
- Renewal fees for visa increased from RM90 a year to RM500 a year
- Processing fee will now be RM5,000 for principal participant and RM2,500 for each dependent, while previously there was no processing fee.