Sarawak to Begin Licensing S-MM2H Agents in 2025 with New Requirements for Applicants and Agencies
Starting January 1, 2025, Sarawak will independently license its own Sarawak-Malaysia My Second Home (S-MM2H) agents, a milestone initiative announced by Datuk Seri Abdul Karim Rahman Hamzah, the stateโs Minister for Tourism, Creative Industry, and Performing Arts. This decision follows the delegation of authority from the federal Tourism, Arts and Culture Ministry, which empowered Sarawak to handle S-MM2H agent licensing as of July 2023.
Abdul Karim expressed that this move marks a significant achievement, allowing Sarawak to set its own licensing terms and conditions for agents and applicants alike. โWith this delegation of power, we now have the authority to decide on the terms and conditions for applicants as well as agents,โ he shared during a press conference.
New Licensing Requirements for S-MM2H Agents
Under the new regulations, agents who wish to be licensed must meet specific criteria:
- Local Ownership: Agents must be Sarawak-owned companies with no foreign nationals on the board of directors.
- Paid-Up Capital: A minimum paid-up capital of RM100,000 is required.
- No Monopoly: Shareholders are prohibited from holding shares in another licensed S-MM2H agency to prevent monopolies within the industry.
Existing agents, previously licensed by the federal ministry, will need to reapply under Sarawakโs new requirements. The state currently has 40 agents who will now need to secure licenses based on the newly outlined criteria.
Enhanced S-MM2H Programme Requirements for Applicants
The S-MM2H programme requirements have also been updated for applicants as part of Sarawakโs streamlined approach to attract high-quality participants:
- Fixed Deposit Requirement: Applicants must place a fixed deposit of RM500,000 for each application, covering both spouse and dependents. This marks an increase from the previous RM150,000 for individuals or RM300,000 for couples.
- Processing Fee: A one-off processing fee of RM5,000 will be charged by the state Tourism, Creative Industry, and Performing Arts Ministry.
These new requirements, approved by the state Cabinet on October 24, are expected to attract serious long-term residents to Sarawak while supporting the stateโs economic growth.
Strengthening Sarawakโs Role in Tourism and Residency Programs
The shift to local licensing underscores Sarawakโs vision to become a preferred destination for international long-term residents. With enhanced requirements and greater control over the licensing process, Sarawak can directly oversee the quality and standards of agents and applicants, aligning with its broader tourism and development goals.
Through this initiative, Sarawak aims to ensure a balanced and well-regulated S-MM2H program, avoiding monopolies among agents and promoting transparency in residency applications.
As Sarawak takes control of the S-MM2H licensing process, it continues to position itself as a welcoming, well-regulated destination for global residents, setting a benchmark for residency and tourism programs in Malaysia.
