Malaysian Govt has approved over 4400 Malaysia My Second Home (MM2H) applications from July 2019 till Nov 2019. The government has approved more than half the applications (out of 9439) which were received during this period.
Mohammadin Ketapi the Tourism, Arts and Culture Minister (MOTAC) minister said each application goes through the approval stage as set by the government. The normal processing time is 120 working days.
Deputy Minister of Tourism, Arts and Culture, Muhammad Bakhtiar Wan Chik, said “The Second Malaysia Home (MM2H) program contributes RM19.9 billion to the country’s economy, to date. The amount included the collection of visa fees, the opening of fixed deposits in Malaysia and the purchase of residential properties. This year alone, RM9.9 million of visa fee revenue was collected through MM2H. The amount does not take into account the monthly household expenses depending on the number of family members” he said.
Muhammad Bakhtiar said applications for MM2H have increased in the last three years, with 6,249 applications in 2017, 6,279 (2018) and 9439 (2019 as of November 2019).
To ensure that the program was attended by quality foreigners, he said that every application would have to meet financial requirements, no police protests and was certified at the MM2H Acting Committee Meeting and approved by the Home Minister.
“For property purchases, the current condition stipulates that participants are allowed to withdraw part of their savings account for the purpose of purchasing real estate beginning the second year of participation.”
He further adds that the government has received applications from 131 countries but most of these applications are from Chinese citizens. The other top 10 nationals who top this application chart are Japan, Bangladesh, UK, Korea, Singapore, Taiwan, Iran, Hong Kong and India
Have you applied for the MM2H programme?
We are an officially licensed company that is based in Kuala Lumpur and is governed by the Ministry of Tourism Malaysia since 2011 and our license number is KPK/LN: MM2H 0526. The nature and objective of our business is to ensure that expatriates who wish to retire or invest in Malaysia can receive consultancy and advisory services in regards to the MM2H visa permit and other expatriate services. Furthermore, we are a full active committee member of MM2HAA (MM2H Agents Association), and our Membership Number is M-202. To know more about MM2H Requirements and apply visit our website https://www.applymm2h.com/