The Tourism, Arts and Culture Ministry today (15 Dec 2023) announced new, more relaxed conditions for the Malaysia My Second Home (MM2H) programme.
Its minister Datuk Seri Tiong King Sing said the new conditions were meant to simplify the MM2H application process, which had previously been criticised as burdensome.
The new conditions, he said, were on a year-long trial period, with the criteria and conditions possibly streamlined later in accordance with current needs.
For the Platinum tier, applicants must have a fixed deposit of RM5 million (USD1.05 million). They can withdraw half of the amount after a year to purchase properties priced at RM1.5 million minimum.
The amount can also be used for healthcare and domestic tourism, the latter being a new addition to the conditions.
Also, participants could now withdraw a maximum of 50 per cent of the principal amount after a year for domestic tourism purposes.
Platinum applicants must reside for at least 60 days a year in Malaysia.
Those in the Platinum category can also earn Permanent Resident status after obtaining their MM2H pass.
Gold MM2H applicants must adhere to the set financial prerequisites, including a fixed deposit of RM2 million (USD420,800).
They are also allowed to withdraw a maximum of 50 per cent of the amount after a year to purchase properties valued at RM750,000 and above, for healthcare, and for spending on tourism activities.
Gold MM2H pass holders must reside in Malaysia for at least a cumulative total of 60 days a year.
For individuals aged 30 to 49 years old, their residence in the country must be fulfilled by their principal, partners, or their dependents respectively.
The Gold MM2H pass is valid for 15 years, with Multiple Entry Visas (MEV) granted to the principal and dependents, and it can be renewed.
Silver MM2H category applicants must have a fixed deposit of RM500,000 (USD105,000) as a financial prerequisite.
They can withdraw a maximum of 50 per cent of the amount after a year to purchase properties valued at RM750,000 and above, for healthcare, and for spending on tourism activities.
Silver MM2H pass holders must reside for at least a cumulative total of 60 days a year in Malaysia.
For individuals aged 30 to 49 years old, their residence in the country must be fulfilled by their principal, partners, or their dependents respectively.
The Silver MM2H pass is valid for five years, with Multiple Entry Visas (MEV) granted to the principal and dependents, and it can be renewed.
* The new conditions, he said, were on a year-long trial period, with the criteria and conditions possibly streamlined later in accordance with current needs.