MM2H approvals reach 58,468 by end-2024, govt gains over RM455m from investments — Tiong

• “Approvals under the previous policy stand at 57,686, comprising 28,209 principals and 29,477 dependents.”

KUALA LUMPUR (Feb 25): The Malaysia My Second Home (MM2H) programme has recorded a total of 58,468 approvals as of Dec 31, 2024, comprising 28,528 principals and 29,940 dependents, said Tourism, Arts, and Culture Minister Tiong King Sing.

Of these, 782 applications were approved under the updated MM2H programme, involving 319 principals and 463 dependents.

The approvals under the new policy are categorised as follows: Platinum (seven principals), Gold (nine principals), Silver (260 principals), and the Special Economic Zone (SEZ) and Special Financial Zone (SFZ) (43 principals).

“Approvals under the previous policy stand at 57,686, comprising 28,209 principals and 29,477 dependents,” Tiong stated in a written parliamentary reply on Thursday.

He was responding to Datuk Seri Ismail Sabri Yaakob (Barisan Nasional-Bera), who inquired about the latest MM2H figures and the programme’s total revenue contribution to the country.

The updated MM2H guidelines, approved by the Cabinet and released by the Ministry of Tourism, Arts, and Culture in June, introduced relaxed requirements for fixed deposits, offshore income and liquid assets. However, a new mandatory house purchase requirement was implemented.

Tiong stated that under the updated MM2H guidelines, the government has gained an estimated RM233.8 million from fixed savings accounts and RM222 million from property investments.

The programme is now divided into three categories based on the minimum property purchase requirements: Silver (RM600,000), Gold (RM1 million) and Platinum (RM2 million).

Additionally, the SEZ (Special Economic Zone) and SFZ (Special Financial Zone) categories were introduced with further relaxed conditions, including a reduced fixed deposit requirement of RM500,000 (down from RM1 million) and the removal of the RM40,000 monthly offshore income requirement.

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