The state government has approved in principle the policies for the setting up of theย Sabah-Malaysia My Second Home (SBH-MM2H) scheme.
โThe state cabinet has approved the policies which govern the prerequisites for participation in the programme such as age requirement, medical certification and a fixed deposit account inย Sabah,โ Minister of Tourism, Culture and Environment Datuk Christina Liew announced in a statement that was reported by theย Borneo Postย yesterday.
Liew revealed that a fixed deposit of RM200,000 along with a bank account with any bank were among the conditions for applicants of the SBH-MM2H.
They are also only eligible to buy apartments worth a minimum of RM600,000, she said.
“There must be a minimum stay of 30 days a year and the approved duration for an individual or family is for 5+5 years inย Sabahย only.
“The applicants must have a good conduct certificate from their country of origin and a medical check-up certificate,” she added, according to a report byย The Star.
Liew said she is optimistic that the programme will attract participants who fulfil the qualifying criteria.
โIt is anticipated that these participants will create a significant impact on the stateโs economy, especially in real property development and the tourism industry,โ she added.
