MM2H: better than before, but still some way to go

Free Malaysia Today

The revamped regime relaxes financial requirements but imposes a new property rule that may seem too harsh.   Read More:  https://www.freemalaysiatoday.com/category/nation/2024/07/05/mm2h-better-than-before-but-still-some-way-to-go/  Laporan Lanjut:  https://www.freemalaysiatoday.com/category/bahasa/tempatan/2024/07/05/mm2h-baharu-lebih-baik-tetapi-masih-banyak-perlu-dibaiki/  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #MM2H #Relaxes #FinancialRequirements

Transcript

00:00The Malaysia My Second Home program has been revamped by the government to strengthen the

00:06economy and offer better benefits to new visa holders.

00:10Unlike the 2021 changes targeting high net worth individuals, the new MM2H has more relaxed

00:15requirements with the onerous monthly income and liquid asset requirements removed.

00:20The new program now involves three categories, silver, gold and platinum, with the fixed

00:26deposit requirement now fixed at between US$150,000 to US$1 million for the highest

00:33tier.

00:34Previously, principal applicants needed to deposit RM1 million plus RM50,000 per dependent,

00:40have a monthly income of RM40,000 and possess at least RM1.5 million in liquid assets to

00:46obtain a five-year multiple entry visa.

00:48The liquid asset clause and hike in the required fixed deposit, compared with RM300,000 between

00:542002 and 2019, had deterred middle-income applicants.

00:58However, there are some stricter conditions under the MM2H.

01:03Passholders must now purchase residential property of a certain value based on their

01:06visa category and hold on to the property for at least 10 years.

01:11The new MM2H conditions nonetheless minimize overlaps with similar programs offered by

01:15Sabah and Sarawak, which are more affordable and cater more to the lower middle-income

01:19crowd.

01:21Demandatory property purchases are also expected to reduce property overhang in key states,

01:25improving the market and local property values.

01:29Danish Rajareza, FMT News.

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