Tiong: New MM2H participants are not eligible for PR status

KUALA LUMPUR – According to Datuk Seri Sing Tiong King, new participants in the Malaysia My Second Home Programme (MM2H), who are from all three categories – Platinum, Gold, and Silver – will not be eligible to apply for Permanent Resident (PR) Status. .

In a post published on Facebook Saturday (15 June), Tourism, Arts and Culture, Minister, announced that the Government has agreed to introduce new requirements for participation in the MM2H Program.

The Ministry is confident that this new approach will attract participants from the target group, particularly high-net-worth individuals and digital Nomads to make Malaysia their preferred destination.

He said that the presence of these groups would boost the local economy in areas such as tourism, housing, medical, and education, making Malaysia an extremely competitive global hub.

The MM2H programme, which was introduced in 2002, allows foreigners to buy property and reside within Malaysia. It will be temporarily frozen by August 2020 to allow the Home Ministry and Tourism Ministry to review it comprehensively.

Immigration Department has been handling new MM2H requests since October 2021. This includes existing application processing and logistics.

Tiong shared an infographic in the same post that categorises MM2H candidates into three tiers based on criteria and conditions.

All three categories are open to foreigners who have diplomatic relations with Malaysia. They must also be at least 25-years-old, submit their applications through the MM2H One-Stop Centre and spend at least 90 days cumulatively in Malaysia each year.

The detailed criteria and requirements for the Platinum and Gold categories are: the Platinum category needs a deposit of US$1,000,000, the Gold category US$500,000 and the Silver category US$150,000.

Tiong said his ministry had begun processing and approving MM2H tourism business operation licences based upon newly streamlined requirements.

Tiong said that agents who have been approved for the MM2H tourism business operation licence with the new requirements may now submit new participant applications to the One-Stop Centre (OSC MM2H), in Putrajaya.

According to him the new requirements of the MM2H tourism business operation licence include increasing the paid-up capital to RM200,000 minimum, setting the licence fee to RM2,500 annually, and having a registered address.

These new requirements were introduced to improve the credibility and accountability for licensed MM2H businesses. These licence requirements also aim to protect participants more comprehensively,” he added.

The MM2H Tourism Business Operation Licence Application Guidelines, available on the Ministry website, will provide further details about these requirements.

Any enquiries regarding MM2H licensing can be directed via email to [email protected].

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