News about MM2H

In Budget 2024, Putrajaya plans to “relax” the current conditions for MM2H applications.

“To ensure MM2H is attractive and competitive, the Ministry of Tourism, Arts and Culture (Motac) together with the home ministry continues to review the existing requirements of the programme.

The research house kept its positive stance on the sector and said property demand will keep recovering as the benchmark overnight policy rate rate is likely to stay the same for this year.

Maybank Investment Bank (IB) research noted that while a less stringent MM2H “should benefit the domestic property industry in both the rental market and property demand, the imposition of a flat 4% stamp duty on foreign buyers, could result in a 63% increase in stamp duty fees for a property priced at RM1.

Sarawak tourism, creative industry and performing arts minister Abdul Karim Rahman said this is “probably because our conditions are more attractive [compared to the national MM2H]”.

“I chair meetings about the programme every month and now I am seeing a bit of surge in the number of people wanting to participate in the programme, which is good.

Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing said it would take one or two months to obtain approval from the various ministries before the latest conditions on MM2H applicants could be finalised.

Each of the three categories, Platinum, Gold, and Silver, will require a different amount of permanent applicants’ savings PETALING JAYA (June 23): In the latest development involving the Malaysia My Second Home (MM2H), the government will “set the requirements” to divide the programme into three categories.

It’s better late than never for us to get back in the game.

“The government’s intent to review the requirements as well as facilitate and expedite the processing of MM2H applications via a one-stop centre is definitely a step in the right direction,” said Datuk NK Tong, president of Rehda.