Malaysia's MM2H Program: Simplified for 2024 Applicants

Here’s a bullet-point summary of the key updates to the Malaysia My Second Home (MM2H) program as of June 2024:

General Program Updates:

• Minimum Age Requirement: Lowered from 35 to 25 years.
• Residency Requirement: Cumulative stay of 90 days per year for all categories.
• Permanent Residency: Not available for any category.
• Dependent Coverage: Includes spouse, children, and parents. Children can be dependents up to 34 years if unmarried and unemployed. No age limit for disabled children.
• Spousal Provisions: Dependents can inherit the visa upon the principal applicant’s death.
• Deposit Withdrawal: Up to 50% of fixed deposit can be withdrawn after one year for property purchase, healthcare, or tourism.

MM2H Categories:

1. Platinum:
   • Fixed Deposit: USD 1 million.
   • Visa Validity: 20 years (renewable).
   • Participation Fee: RM 200,000.
   • Property Purchase: Minimum RM 2 million.
   • Work Permission: Yes, without additional approval.
2. Gold:
   • Fixed Deposit: USD 500,000.
   • Visa Validity: 15 years (renewable).
   • Participation Fee: RM 3,000.
   • Property Purchase: Minimum RM 1 million.
   • Work Permission: Requires application.
3. Silver:
   • Fixed Deposit: USD 150,000 (approximately RM 700,000).
   • Visa Validity: 5 years (renewable).
   • Participation Fee: RM 1,000.
   • Property Purchase: Minimum RM 600,000. Must hold the property for 10 years, can be resold to buy a higher-value property.
   • Work Permission: Requires application.
   • Renewal Fee: RM 1,500.

Additional Program Notes:

• Tax Exemptions: Available for funds brought into Malaysia for all categories.
• Multiple Entry Visa: Available for all categories.
• Business/Work: Automatic for Platinum, requires approval for Gold and Silver categories.

These updates simplify certain application requirements, especially with the introduction of lower deposit requirements and the reduction in age limits, making it more accessible to a broader range of applicants.