New Guideline MM2H 2021

The Government of Malaysia has decided to temporarily suspend the Malaysia My Second Home Program (MM2H) since 18 March, 2020. The suspension is in line with the Government's decision not to allow foreigners to enter Malaysia following the out bread of Covid-19 pandemic. 

The latest updated information by the Government on July 14 and 30 has suggested improvements to new MM2H policies as a strategy to assist in the implementation of the National Recovery Plan. MM2H will be start accepting fresh application in coming October 2021 with new guidelines. Applicants will be accept with no criminal records, this is to concerns the safety and economy of Malaysia. 

Improvements to the MM2H programme is the setting of a ceiling on the number of participats with not more than 1% of the total Malaysian population.

The new guidelines as following:
 
1. Applicants must reside in Malaysia for a cumulative of at least 90 days in a year.
This is to ensure the applicants really spend and contribute the country's economy, which included property rentals or purchases, healthcare services, insurances, education, expenses food and drinks, local tourism and others more. 

2. Applicants must have an offshore income of at least RM40,000 a month compared with RM10,000 previously.
The new income conditions are more relevant as the Government is targeting high-income applicants with adequate capabilities. Besides that, this is also to consider the expenses of children's education in international schools, and a suitable lifestlye that matching with their living standards. 

3. Fixed saings account must at least RM 1million and allowed spending maximum 50% and above for purchase property, expenses on healthcare, and children's education.
Previous conditions were set at least RM150,000 for applicants above 50 years old and RM300,000 for 50 years old and below.

4. MM2H is now divided into 2 categories for:
i) Age between 35 to 49 years old
ii) Age 50 years old and above

Reasons for the age 35 to 49 category was introduced to select applicants of real quality who are with more stable income with careers. Due to the changing conditions and the spillover effects in neighbouring countries such as Thaland and Philippines with similiar programmes of MM2H. 

5. MM2H programme long-term social visit pass is now set to 5 years and can be extended for another 5 years, as long the applicants are subject to the compliance of the application conditions, compared with 10 years previously.

6. Liquid assets at least RM 1.5million.
Compare of the earlier RM 350,000 to RM 500,000, government's intention to attract high quality applicants.

7. Rate of the pass fee is increased from RM 90 to RM 500 a year, while the processing fee RM 5,000 will be charged for principal and RM 2,500 for each dependant.
Previously, no processing fee was charged. The processing fee is aimed at increasing the quality of service offered to MM2H applicants. 

8. For renewal of passes, change of principals, change in nationality, participants, and dependants must undergo and pass security vetting. 

9. Applicant have to submit a Letter of Good Conduct.