PETALING JAYA: The outcome of a review of the Malaysia My Second Home (MM2H) programme will be known within two months.
This review was previously announced in April, following concerns raised that MM2H requirements had been too strict.
Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing said it would take one or two months to obtain approval from various ministries before the latest conditions on MM2H applicants could be finalised.
“Let us finish the whole structure first, and we will let the public know,” he said when contacted. He said the ministry was aware that foreigners keen on the MM2H had been dismayed by the criteria that they would need to have a fixed deposit of at least RM1mil (up from RM300,000 previously), liquid assets of at least RM1.5mil (previously RM500,000) and a monthly offshore income of RM40,000 (up from RM10,000).
There had been many calls for the government to ease the requirements, which were announced in August 2021.
Kenneth Wilkinson, a French expatriate, shared that he has resided and worked in Malaysia for more than 45 years and intends to retire in this country. However, he expressed that the rigorous application procedures had posed challenges for him and his wife in fulfilling the necessary criteria.
“I’m 76 years old. I am still working part-time as an adviser for a 100% local company under a Talent Corp-issued Residence Pass Talent (RP-T) which will expire in November.
“I want to retire for good, but I’m devastated to learn that I won’t be able to obtain an MM2H visa due to the stringent requirement of RM40,000 in monthly offshore income,” he said.
The MM2H, which is meant for non-Malaysians to retire and live in Malaysia for a period of time, was put on hold in 2018 but revived in 2021 with stricter conditions.
Tourism Malaysia’s role is to promote the programme while a MM2H one-stop centre would help process applications and gather the information needed to be forwarded to the Home Ministry and Immigration Department for the issuing of MM2H passes.
I want to retire for good, but I’m devastated to learn that I won’t be able to obtain an MM2H visa due to the stringent requirement of RM40,000 in monthly offshore income.Kenneth Wilkinson
Source : The Star