Malaysia My Second Home (MM2H) Program’s New Policy Lowers Application Threshold? Not Really.

On June 14, 2024, the Malaysian Minister of Tourism, Arts and Culture (MOTAC), Tiong King Sing, announced new conditions for the Malaysia My Second Home (MM2H) program on his personal social media. The Malaysian Cabinet has approved new regulations for the licensing of MM2H agents, requiring all agents to update their licenses according to the new rules. The relevant authorities will also review the background and information of the agents to improve the quality of service, thereby providing more comprehensive protection for MM2H applicants. Additionally, the minister announced new application conditions for the MM2H program, with the government aiming to attract more high-income individuals and elite applicants to stimulate the country’s economic growth.

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The MM2H program will be divided into three categories: Platinum, Gold, and Silver. Applicants in different categories will be subject to different application conditions, determining the type of entry visa they receive. Under the new conditions of the MM2H program, nationals from countries that have diplomatic relations with Malaysia can submit applications, and the minimum application age has been lowered from 35 to 25 years. Additionally, applicants are allowed to receive long-term medical treatment in Malaysia, and their family members can study at Malaysia’s accredited institutions of higher learning (IPT).

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The residency requirements for applicants in the Platinum, Gold, and Silver categories are the same: a cumulative stay of 90 days per year in Malaysia. The main differences between these three levels are the fixed deposit amounts, application fees, visa durations, and the value of the property purchase. Under the new conditions, the Silver category requires a fixed deposit of $150,000 (approximately 700,000 MYR), a 30% reduction from the previous requirement of 1 million MYR. The application fee for the Silver category has been reduced from 5,000 MYR to 1,000 MYR, and applicants can receive a five-year MM2H visa, which can be renewed for a fee of 1,500 MYR per person upon expiration. Moreover, Silver category applicants can withdraw up to 50% of the fixed deposit after one year if they purchase a property in Malaysia. The minimum property purchase value must be 600,000 MYR, and the property cannot be sold within 10 years. However, it can be resold to buy a new property of higher value.

In addition to the Silver category, the Ministry of Tourism has introduced two other categories: the Gold category, which requires a fixed deposit of $500,000, and the Platinum category, which requires a fixed deposit of $1,000,000. Applicants in the Gold category will receive a 15-year visa, while those in the Platinum category will receive a 20-year visa. However, none of these categories grant eligibility for permanent resident status.

The Tourism Minister also stated that agents who meet the new regulations and obtain operating licenses can submit applications to the One-Stop Center for MM2H in Putrajaya. Once the system is fully operational, applications can be submitted online. The Minister expressed hope that the latest requirements and policies would establish a more comprehensive mechanism to protect the interests of all parties, making the MM2H approval process more transparent and efficient, thereby bringing positive benefits to the national economy. Globevisa will continue to monitor government policy changes and provide applicants with up-to-date information on various countries and programs.