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- Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing said it would take one or two months to obtain approval from the various ministries before the latest conditions on MM2H applicants could be finalised.
PETALING JAYA (June 30): The results of a review of the Malaysia My Second Home (MM2H) programme will be known within two months.
According to a report by The Star, Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing said it would take one or two months to obtain approval from the various ministries before the latest conditions on MM2H applicants could be finalised.
“Let us finish the whole structure first, and we will let the public know,” Tiong said when contacted by the daily.
He added that his ministry was aware that foreigners keen on the MM2H had been unhappy about the criteria that required a fixed deposit of at least RM1 million (up from RM300,000 previously), liquid assets of at least RM1.5 million (previously RM500,000) and a monthly offshore income of RM40,000 (up from RM10,000).
This review was announced in April, following “concerns raised that MM2H requirements had been too strict”, stated the daily.
Last week, Tiong also announced that the government will “set the requirements” to divide the programme into three categories.
The three categories, Platinum, Gold, and Silver, will require a different amount of permanent applicants’ savings.
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