Many people had been hoping for changes to the MM2H requirements, particularly the requirement to purchase property. For now, however, the programme looks set to remain largely unchanged.
The government has indicated that no major changes are planned, while even some of the smaller adjustments that had been discussed – such as allowing more MM2H participants to employ foreign domestic helpers – have yet to happen.
There is still hope that some of these practical adjustments could be introduced in time. But for those waiting for a more significant rethink of the programme, the current message is one of stability. The relatively high level of investment required may also be a factor for potential applicants from countries further afield, who may be more hesitant to commit such a substantial amount of their own money to moving to Malaysia.
APPLICANTS FROM CHINA DOMINATE
It is clear that the interest in the MM2H visa remains strong among Chinese applicants. Juwai IQI, formed through the merger of a major Chinese-language property portal and a Malaysian-based real estate network, reports a surge in Chinese property purchases in Malaysia. This is reflected in the significant number of Chinese applicants for the MM2H visa. Over 50% of approved applications come from China.
Of course, even though the numbers run into the thousands, they still represent only a tiny fraction of China’s population, currently around 1.4 billion. With around six million dollar millionaires in the country, there is certainly no shortage of wealthy potential applicants. It is also worth noting that Taiwanese nationals remain the second-largest group among the various nationalities applying.
MORE THAN JUST RETIREES
It appears that MM2H is increasingly attracting larger family groups. The average number of dependants used to be around 1.05 per applicant. This has now risen considerably to an average of 1.8 dependants for each approved application. It is not clear how much of this increase can be attributed to the relaxed rules for dependants, which now allow unmarried, non-working children to be included up to the age of 35.
When the visa was primarily aimed at retirees, it was more common for older married couples or single applicants to apply, with their children having mostly left home. The programme’s new positioning does appear to be appealing to a broader range of applicants, including families with older children.
The Silver visa, the lowest tier, remains by far the most popular option according to the Ministry of Tourism. It requires a USD150,000 fixed deposit and a minimum property purchase of RM600,000.
KEEPING APPLICANTS AND AGENTS IN CHECK
One thing is clear: the government is taking compliance seriously. It is not simply talking about enforcing the rules; it appears to be taking action as well. Authorities are following up with approved applicants who have not yet provided proof of a property purchase within the required 12-month period. Warnings are issued that their visas could be revoked if they fail to make the purchase soon.
The message to agents is equally clear: those who fail to follow the rules risk losing their licences. This applies not only to activities carried out in Malaysia, but also to actions taken overseas.
SLOWER PROCESSING TIMES
Although no official notice has been issued, there does appear to have been a slowdown in the processing of both new applications and renewals for existing visa holders. Renewals are currently taking around three months to process. We recommend that existing visa holders submit their applications well in advance to allow for possible delays.
The slight slowdown may be linked to the government applying the rules more strictly. We have also been advised that some scheduled meetings were postponed for unspecified reasons.
It also appears that the financial information submitted by new applicants is now being reviewed more thoroughly. Requirements for renewals have certainly become stricter. For example, a copy of a marriage certificate was previously accepted for renewal, whereas applicants are now required to provide a certified copy, as well as an English translation where necessary.
