Revamped MM2H programme to have ‘three tiers’

• The minimum age requirement of the revamped MM2H has also been been lowered to 30 years, together with an expanded list of eligible dependents.

PETALING JAYA (Dec 17): The Tourism, Arts and Culture Ministry has unveiled a revamped version of the Malaysia My Second Home (MM2H) programme which now has three tiers – silver, gold and platinum.

Minister Datuk Seri Tiong King Sing (pictured) revealed this on Friday, explaining that each tier will entail varying eligibility requirements.

According to a report by The Star, participants under the platinum tier must have a fixed deposit of RM5 milllion. After one year, a maximum withdrawal of 50% is allowed for property purchase (with a minimum value of RM1.5 million and above), healthcare and domestic travel within Malaysia.

The gold tier requires a fixed deposit requirement at RM2 million with withdrawal provisions for property purchases of a minimum value of RM750,000 and above, healthcare and domestic travel.

The silver tier requires RM500,000 in fixed deposit with similar withdrawal provisions.

According to a report by theedgemalaysia.com, platinum tier participants are also eligible to obtain permanent residence status

The minimum age requirement of the revamped MM2H has also been been lowered to 30 years, together with an expanded list of eligible dependents.

In addition to spouses, children below 21 and children with disabilities, the new programme allows all children between 21 and 34 years old who are not working in Malaysia or married; and parents and parents-in-law to be eligible as dependents.

All participants in the tiers must meet the minimum stay requirement of a cumulative total of 60 days annually in Malaysia.

Applications can only be submitted through licensed MM2H agents accredited by the ministry under the Tourism Industry Act 1992.

“The objective is to simplify the often-criticised MM2H application procedures by introducing more flexibility and clarity,” Tiong said in a statement that was reported by The Star.

Tiong added that he was confident that the revamped programme would attract a wider pool of applicants, fostering global interest in Malaysia as a second home destination.

He said the revamped programme will be on trial for a year and can be adjusted according to circumstances.

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