15-12-2023 (KUALA LUMPUR) The Tourism, Arts, and Culture Ministry of Malaysia has introduced a revamped version of the Malaysia My Second Home (MM2H) programme, now structured into three tiers – Silver, Gold, and Platinum. Datuk Seri Tiong King Sing, the Minister, highlighted that each tier comes with specific eligibility requirements, including variations in the type of entry visa available to applicants.
The primary goal is to simplify the often-criticised MM2H application procedures by introducing more flexibility and clarity, according to the Minister. The announcement comes amid a working trip to China by Tiong, where bilateral discussions and promotional activities with Chinese platforms took place.
Aligning with the upcoming 50th anniversary of diplomatic relations between Malaysia and China in 2024, the revamped MM2H programme is positioned as a special gift to mark this milestone. Tiong expressed confidence that the changes would attract a broader pool of applicants, fostering global interest in Malaysia as a second home destination.
The revamped programme will undergo a one-year trial period with openness to adjustments based on evolving circumstances to ensure relevance and effectiveness.
Key changes include a lowered minimum age requirement to 30 years, broadening the eligibility criteria. Applications can only be submitted through licensed MM2H agents accredited by the ministry for streamlined and secure processing. An expanded list of eligible dependents now includes parents, parents-in-law, and all children between 21 and 34 years old who are not working in Malaysia or married.
The three tiers – Platinum, Gold, and Silver – have varying fixed deposit (FD) requirements and withdrawal provisions. The Platinum tier demands an FD of RM5 million, allowing a maximum withdrawal of 50% after one year for property purchase, healthcare, and domestic travel within Malaysia. The Gold tier requires an FD of RM2 million with similar withdrawal provisions, while the Silver tier necessitates RM500,000 in FD with corresponding withdrawal options.
Regardless of the chosen tier, participants must meet the minimum stay requirement of residing in Malaysia for a cumulative total of 60 days annually.
The MM2H programme was reactivated on Aug 11, 2021, with revised conditions after being put on hold for a year due to the Covid-19 pandemic. The 2021 conditions included a minimum annual stay of 90 cumulative days, offshore income of at least RM40,000 per month, and a fixed deposit account of at least RM1 million.
The revised conditions faced criticism for being restrictive and unattractive to potential applicants, prompting the recent overhaul to enhance the programme’s appeal.
