- Nine conditions for new MM2H applications
Nine new conditions have been introduced to the updated Malaysia My Second Home (MM2H) programme, which will accept fresh applications starting October. The government has announced the following changes to the requirements for the visa.:
Monthly income required to qualify is increased from RM10,000 to RM40,000 a month (roughly US$9500 or £6800)
You need to show liquid assets amounting to RM1,500,000 in order to apply for the visa.
The fixed deposit requirement is increased to RM1,000,000 (roughly US$236,000; GB £170,000). It was previously RM150,000 if you were over 50, and RM300,000 for those under 50 years of age. (Up to RM500,000 can be withdrawn for education, health care or buying a house). In addition, RM50,000 must be placed for each dependent
You must spend 90 days a year in Malaysia. and, an additional RM50,000 in fixed deposit is required for each dependant – wife, children, parents or in-laws.
The minimum age is increased from 21 to 35. The two age categories are now 35 to 49, and 50 and above.
The validity of the MM2H pass, including extensions thereafter, is now five years instead of 10.
Government charges are increased dramatically. The annual visa fee will be RM500 up from RM90 and there will be a processing fee charged by immigration of RM5,000 for the principal applicants plus RM2,500 for each dependent.