The Malaysia My Second Home (MM2H) programme, suspended from July 2020, resumed in October 2021 with tighter requirements. The minimum monthly income required has been raised from RM10,000 to RM40,000, while the fixed deposit requirement has been increased to RM1,000,000 in a Malaysian bank. However, MM2H pass holders can withdraw up to RM500,000 from their fixed deposit account after one (1) year if they have paid for a house, car, medical expenses or education in Malaysia.
The strict conditions set by the Malaysian Immigration Department ("MID") aim to ensure that MM2H pass holders will stay in Malaysia for a long period, spend money, and indirectly contribute to the Malaysian economy.
Travellers who hold a social visit pass in Malaysia can only stay in the country for a certain period, depending on their nationality. Therefore, those who frequently visit Malaysia and wish to settle in this country can participate in the MM2H program. There are also various reasons people join the programme; they might come from unstable countries and choose to move to another country if the need arises.
The number of MM2H applications received after the programme resumed in October 2021 showed a significant decrease compared to prior to the programme's suspension. It could be because of the tighter requirements, or it could also be because of the Covid-19 pandemic. Hopefully, the reopening of Malaysia's international borders on 1 April 2022 will positively impact the number of MM2H programme applications.
For those who are eligible, why not consider applying for the MM2H programme now? With the low number of MM2H applications received by the Malaysian Government, you might have a higher chance of getting the MM2H pass!