The Malaysia My Second Home (MM2H) program has recorded a strong rebound in 2024, attracting a total investment of RM 455.8 million (US$102 million) within just six months. This renewed interest follows the introduction of revamped MM2H visa guidelines aimed at enhancing the program’s appeal to global retirees, investors, and expatriates.
The surge in approvals and foreign investment highlights Malaysia’s growing reputation as a top destination for long-term residency in Southeast Asia. The updated MM2H visa requirements offer more structured investment tiers, aiming to attract high-net-worth individuals seeking residency in Malaysia with benefits such as property ownership and financial security.
MM2H 2024 Performance Breakdown
Since the mid-2024 relaunch, approvals have been categorized as follows:
- 319 Principal Applicants
- 463 Dependents
Among the newly introduced MM2H tiers, the Silver Category was the most popular. This option requires:
- A US$150,000 fixed deposit
- A minimum property purchase of RM600,000 (approx. US$134,000)
This category received 260 principal approvals.
The Gold Category, which requires:
- A US$500,000 deposit
- Property purchase of RM1 million (approx. US$224,000)
garnered 9 approvals.
The Platinum Category, requiring:
- A US$1 million deposit
- A property purchase of RM2 million (approx. US$448,000)
received 7 approvals.
Additionally, 43 approvals were granted under the Special Economic Zone (SEZ) and Special Financial Zone (SFZ) categories. These come with reduced financial thresholds, including a fixed deposit of only USD $65,000 and no offshore income requirement.
Economic Contribution of MM2H in 2024
Since launching in 2002, the MM2H program has played a vital role in driving foreign direct investment (FDI), particularly in real estate and financial sectors. In 2024 alone, the program has generated:
- RM 233.8 million (US$53 million) from fixed savings
- RM 222 million (US$50 million) from property investments
Total approvals under MM2H now stand at 58,468 applicants:
- 28,209 principal applicants
- 29,477 dependents
MM2H Policy Reforms and Their Impact
The MM2H program was overhauled in 2021, introducing higher financial requirements that led to a sharp drop in applications and backlash from stakeholders. Critics claimed the changes reduced Malaysia’s competitiveness as a destination for expatriates.
In response, the government introduced a tiered MM2H structure in June 2024, offering Silver, Gold, and Platinum categories to cater to different levels of passive investment. They also launched SEZ and SFZ categories, appealing to foreigners keen on active business investment in Malaysia.
Despite its success, the government has emphasized that MM2H is not a pathway to permanent residency, ensuring that participants contribute economically without long-term population impact.
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