KUALA LUMPUR: There were 267 new applications obtained by the Immigration Department for the Malaysia Our Second Home (MM2H) programme between September 16, 2021 and June this year, states Datuk Seri Hamzah Zainuddin.
“To date, there are 53, 356 MM2H Program and Silver Hair Programme pass slots who are still energetic, ” the Home Minister said in a parliamentary written reply out dated Aug 3.
Hamzah (PN-Larut) furthermore noted that 1, 461 participants have decided to pull out of the program between September 2021 and June.
“The Home Ministry would like to dismiss claims that the withdrawal was due to the new terms imposed as current MM2H participants aren’t subjected to the new rules except for those regarding the duration for brand spanking new pass, processing charge and pass fee of RM500, that is imposed on the individuals once their existing pass expires, ” he said.
Hamzah went on to describe that factors like the inability to invest in the programme, individual reasons and the Covid-19 pandemic, which got taken a cost on the participants’ financial standing, are some from the reasons for the drawback.
He had been responding to a question from Hannah Yeoh (PH-Segambut) on the status from the programme, the number of withdrawals due to the new rules and collections in the programme.
Within August last year, the Federal Government announced 10 new conditions for candidates of the programme, including RM1. 5mil within liquid assets, RM40, 500 monthly offshore revenue, RM1mil in a Malaysian fixed deposit plus an additional RM50, 1000 per dependant.
Existing MM2H complete holders only need to conform to two out of the 10 new conditions: a boost in pass charge from RM90 in order to RM500 per year as well as the requirement to stay in the country for a minimum of 90 days a year.
The Sarawak MM2H programme, however , is not affected by the change.
Among the state’s requirements are fixed deposits in local banks, from RM150, 000 for individuals to RM300, 000 for young couples.
The requirement to invest in properties worth at least RM600, 000 pertaining to residential purposes does apply only to applicants that are aged between forty and 50.
Those aged above 30 could be regarded if they are accompanying youngsters to study in Sarawak or seeking long-term medical treatment while at least stay of 15 days cumulative each year is required.