34 MM2H Applications Approved by October 2024 Amid New Guidelines
As of October 14, 2024, the Malaysia My Second Home (MM2H) programme has approved 34 applications out of 249 received, with 11 principal applicants and 23 dependents granted entry, according to Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing.
The MM2H programme continues to attract foreign interest, and the ministry received 249 new applications, including dependents, based on the updated conditions of the programme. Motac serves as the one-stop centre for receiving and processing these applications before forwarding them to relevant agencies for security screening.
Focus on National Security
While streamlining the process is a priority, Tiong emphasized that national security remains paramount. Every application is thoroughly vetted, including the submission of a good conduct certificate and undergoing a police security screening.
To speed up the processing time, Motac is aiming to expedite the current 30-day application review period.
New Categories: Silver, Gold, and Platinum
In June 2024, Tiong announced the latest guidelines for the MM2H programme, introducing three main categories: Silver, Gold, and Platinum, as well as a special category for Special Economic Zones (SEZ) and Special Financial Zones (SFZ).
Key Conditions for MM2H:
- Open to: Foreigners from countries with diplomatic ties to Malaysia.
- Age requirement: Minimum age of 25 years old.
- Stay requirement: Applicants must stay in Malaysia for at least 90 cumulative days per year.
Financial Requirements by Category:
- Platinum: Requires a fixed deposit of US$1 million.
- Gold: Requires a fixed deposit of US$500,000.
- Silver: Requires a fixed deposit of US$150,000.
Applicants are also required to purchase a property in Malaysia valued between RM600,000 and RM2 million, depending on their visa category.
The MM2H programme, which is aimed at attracting long-term foreign residents, continues to evolve, with the Malaysian government focused on making the programme attractive and secure for foreign investors and residents alike.
