Malaysia My Second Home (MM2H)’s applicants will be subject to a stringent vetting process due to the persisting instability in Hong Kong, according to Datuk Isham Ishak, Secretary General of Malaysia Tourism, Arts and Culture Ministry.
Malaysia My Second Home, known as its short form MM2H, is an immigration program aimed at attracting wealthy foreigners to relocate to and purchase property in Malaysia. The newly-acceded migration program has witnessed a surge in interest from Hong Kong due to the escalation of situation taken place in the city for the past few months.
In reply to concerns over the possibility that Hongkongers who have conducted illegal acts seek refuge in Malaysia through applying for a MM2H long-term visa, the secretary general emphasized that all Hong Kong applicants shall provide a good conduct certificate.
The speech aroused public worries in Hong Kong, as MM2H, with extremely simple application requirements, has become one of the most popular immigration programs among Hongkongers in recent years. Applicants for Malaysia My Second Home (MM2H) can obtain a 10-year long-term visa through making a fixed deposit of RM 150,000-300,000 in Malaysia, and there is no residency requirement for holders of this long-term visa to maintain it.
Together with Taiwan and Singapore, Malaysia is attracting a large number of potential immigrants in Southeast Asia. But what make Malaysia even more distinguished among these immigration destinations are that it has more Western-like infrastructure compared with Taiwan, and a much lower property price compared with Singapore.
Generally, it takes RM 350,000 (around HKD 660,000) to purchase a property in Johor, which is merely one seventh of the price of a 300-square-feet apartment in Hong Kong, based on the figures released by South China Morning Post.
Within the past two month, more than 90 property exhibitions were held in Hong Kong. Multiple property agents have also reported a growing number of property visits to Malaysia by Hongkongers in recent months.
Choose the company you expect to call