The release of the newest version of the Malaysia My Second Home programme looks a lot different than 2021’s ill-fated version.

Fresh off his announcement of subsidized flights to East Malaysia, Tourism, Arts, and Culture (MOTAC) Minister Datuk Seri Tiong King Sing released a statement on December 15 unveiling the relaxation of the Malaysia My Second Home (MM2H) programme, which introduced three new categories.

“The objective is to simplify the often-criticised MM2H application procedures by introducing more flexibility and clarity,” he said in a statement.

Tiong expressed confidence that the “new new” programme would, with this latest round of changes, attract a wider pool of applicants, fostering global interest in Malaysia as a second home destination.

He said the revamped programme would be run on a trial basis for one year and left the door open to adjustments based on evolving circumstances, in a bid to ensure that MM2H stayed competitive, relevant, and effective.

The new revision opens the MM2H programme to people aged 30 years and above, with applications to be processed exclusively through licensed MM2H agents authorised by the Tourism, Arts, and Culture Ministry under the Tourism Industry Act 1992. (The owner of this website, TEG Media, also operates a licensed MM2H agency.)

The MM2H programme is now divided into three categories: Platinum, Gold, and Silver, each with its own set of requirements. (The Facebook announcement was inexplicably published in Bahasa Malaysia, but the information is quite clear.)

Tiong noted that the new categories announced are a “preliminary version” and that the terms and conditions would be announced soon in stages.

The requirements announced so far do not mention any specific monthly offshore income conditions, nor any restrictions on working in Malaysia, so if and when more information is released, we will update accordingly.

THREE CATEGORIES, THREE SETS OF REQUIREMENTS, VISA LENGTHS, AND BENEFITS

PLATINUM

In the Platinum category, MM2H applicants must meet specific financial prerequisites, including a fixed deposit of RM5 million (currently US$1.05 million).

Applicants can withdraw a maximum of 50% of the amount after a year to purchase properties valued at RM1.5 million and above, for healthcare, and for tourism activities in the country.

Platinum applicants must reside in Malaysia for a cumulative total of at least 60 days a year.

For those aged 30 to 49 years old, their residence in the country must be fulfilled by their principal, partners, or their dependents respectively.

This category of MM2H applicants is also eligible to apply for Permanent Resident (PR) status after obtaining their Platinum pass.

GOLD

Gold MM2H applicants must adhere to a different set of financial prerequisites, including a fixed deposit of RM2 million (US$420,800).

They are also allowed to withdraw a maximum of 50% of the amount after a year to purchase properties valued at RM750,000 and above, for healthcare, and for spending on tourism activities.

Gold MM2H pass holders must reside in Malaysia for at least a cumulative total of 60 days a year.

For individuals aged 30 to 49 years old, their residence in the country must be fulfilled by their principal, partners, or their dependents, respectively.

The Gold MM2H pass is valid for 15 years, with Multiple Entry Visas (MEV) granted to the principal and dependents, and it can be renewed.

SILVER

Silver MM2H category applicants must have a fixed deposit of RM500,000 (US$105,000) as a financial prerequisite.

They can withdraw a maximum of 50% of the amount after a year to purchase properties valued at RM750,000 and above, for healthcare, and for spending on tourism activities.

Silver MM2H pass holders must reside for at least a cumulative total of 60 days a year in Malaysia.

For individuals aged 30 to 49 years old, their residence in the country must be fulfilled by their principal, partners, or their dependents, respectively.

The Silver MM2H pass is valid for five years, with Multiple Entry Visas (MEV) granted to the principal and dependents, and it can be renewed.

A COSTLY LESSON

As a 2002 replacement for Malaysia’s unfortunately named ‘Silver Hair Programme,’ which had been launched in 1996, MM2H grew to be among the world’s most popular such initiatives.

However, from about 2018, the programme was subjected to endless months of turmoil with non-specific reasons of “evaluation” given. Pending applications were either denied or purged en masse, and the off-and-on-again nature of things effectively equated to a “soft suspension.” The subsequent rejection of 90% of all applications with no reasons provided certainly looked like an unofficial freeze. Finally, the hammer dropped officially and MM2H was suspended in August 2020.

The MM2H programme was reactivated in August 2021 with dramatically more restrictive conditions, after being put on hold for a year, at least partly because of the Covid-19 pandemic. Some observers claimed that political infighting and the resultant instability Malaysia experienced during those years played a substantial role in the programme’s lengthy suspension, as well.

Under the 2021 conditions, participants were required to spend a minimum of 90 cumulative days in the country annually, have an offshore income of at least RM40,000 per month (which was a massive increase from the previous RM10,000 requirement), and maintain a fixed deposit account of at least RM1 million. The imposition of such unfavourable conditions saw applications for the programme plunge by some 90%.

Initially, Malaysia also sought to apply the new conditions to existing MM2H pass holders, a direct contradiction of what had been promised. Strong pushback resulted in most of the conditions being waived for legacy MM2Hers, but for some, at least, the trust was damaged. Many visa holders cancelled their participation in the programme and left Malaysia.

It is hoped that a return to a stable, welcoming MM2H programme – regardless of what the government of the day may be – will eventually rebuild some of the lost trust and again showcase the numerous positives Malaysia has to offer those who choose it as their second, or in many cases, first home.

This is a developing story. As more information becomes available, or if additional requirements and/or benefits are announced, we will update this article accordingly.