In a move that promises to usher in a new era of growth and prosperity for Johor, the state’s Menteri Besar, Datuk Onn Hafiz, has expressed his gratitude towards the federal government for its decision to revise the Malaysia My Second Home (MM2H) programme. This adjustment is anticipated to not only invigorate the real estate market but also propel the economic development of the region to new heights.
The revised MM2H programme, unveiled by Ahmad Zahid, introduces more accessible and appealing conditions for foreign participants, aiming to attract a broader demographic to Malaysian shores. With the introduction of three distinct categoriesโplatinum, gold, and silverโbased on the amount of fixed deposit required, the programme now offers flexibility tailored to diverse financial capabilities.
A pivotal change in the programme is the streamlined application process. By partnering with the Immigration Department, the government ensures a swift approval timeline of three working days, contingent upon the fulfilment of all stipulated conditions. This expedited process is designed to enhance Malaysia’s appeal as a welcoming and efficient destination for prospective MM2H participants.
Moreover, the programme mandates a minimum 10-year holding period for purchased properties, a stipulation aimed at fostering long-term investment in the local real estate sector. Additionally, the visa extension policy has been adjusted to provide participants with a renewal option every five years, further enhancing the attractiveness of the programme.
Participants of the MM2H programme will also enjoy added benefits, including the freedom to choose educational institutions for their children, ensuring that families relocating to Malaysia can avail themselves of quality education tailored to their preferences.
This suite of amendments to the MM2H programme is a testament to the Malaysian government’s commitment to fostering a conducive environment for international residents. By making Malaysia, particularly Johor, a more attractive destination for foreign investors and families, these changes are poised to catalyze significant growth in the real estate market and contribute to the overall economic vitality of the region.
Datuk Onn Hafiz’s acknowledgment of the federal government’s contribution to flood relief efforts further underscores the collaborative spirit between the federal and state governments. With a combined aid of RM225 million for flood victims and RM1.6 billion for flood mitigation projects, this partnership exemplifies a unified approach to enhancing the welfare and prosperity of Johor’s residents.
As Johor embarks on this promising journey, buoyed by the revamped MM2H programme, the outlook for the state’s real estate and economic landscape is undeniably optimistic. With strategic policy amendments and a focus on comprehensive development, Johor is well-positioned to attract international interest and investment, paving the way for a brighter and more prosperous future.
