267 New Applicants 1 461 Pull Out From Mm2h Programme

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The new conditions for the MM2H programme were criticised by various quarters, including Sultan Ibrahim Sultan Iskandar of Johor, who warned that they would frighten off investors and dent the country’s revenues.PETALING JAYA: The immigration department has received 267 new applications for the Malaysia My Second Home (MM2H) programme since it resumed, says home minister Hamzah Zainudin.
In a written parliamentary reply, Hamzah also said 1,461 people had applied to withdraw from the programme from September 2021 until June this year.
However, he said their withdrawals were not because of the new conditions set by the government.
“Existing MM2H participants are not subject to the new conditions, except the new pass renewal period, processing fee and RM500 renewal fee.
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“Among the factors for the participants’ withdrawal are their inability to commit to the programme, personal reasons as well as the Covid-19 pandemic’s effect on their (finances),” he said.
Hamzah said there were currently 53,356 active MM2H and Silver Hair programme pass holders.
He was replying to Hannah Yeoh (PH-Segambut) who asked about the number of participants who withdrew from the MM2H programme since the change of conditions, and the impact on Putrajaya’s revenue.
Last August, the government announced new conditions for the programme, including the requirement for applicants to have permanent savings of at least RM1 million and a declaration of liquid assets of at least RM1.5 million.
Previously, they only needed to have savings of between RM300,000 and RM500,000.
An MM2H applicant must now also have an offshore income of at least RM40,000 a month, up from RM10,000 per month.
This drew brickbats from various quarters, including Johor’s Sultan Ibrahim Sultan Iskandar, who warned that the new conditions would frighten off investors and dent the country’s revenues. - FMT

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