1,905 MM2H applications approved since November 2021, 57 PVIP applications processed

KUALA LUMPUR (Oct 16): The Malaysia My Second Home (MM2H) programme post-pandemic has recorded 1,905 approved applications or 88% of the total 2,164 applications between November 2021 and end-September 2023.

Meanwhile, the Premium Visa Programme (PVIP) saw 57 applications processed, where 28 have been approved while the remaining 29 have been recommended for approval, Tourism Minister Datuk Seri Tiong King Sing said.

Tiong [GPS-Bintulu] was replying to Yeo Bee Yin [PH-Puchong] who asked about the applications and approvals of the two programmes, and the status on the reviews of their requirements at the Dewan Rakyat.

“To ensure MM2H is attractive and competitive, the Ministry of Tourism, Arts and Culture (Motac) together with the home ministry continues to review the existing requirements of the programme.

“Whereas for PVIP, it is under the purview of the home ministry and the National Immigration Department,” Tiong said.

Existing PVIP requirements include RM40,000 offshore monthly income, RM1 million local fixed deposit, and RM200,000 participation fee.

The MM2H programme, meanwhile, has different minimum stay periods, local fixed deposit and minimum age requirements between east and west Malaysia, and requires proof of RM40,000 to RM70,000 offshore monthly income and RM1.5 million liquid asset (for Peninsular Malaysia).

On Friday’s (Oct 13) Budget 2024 tabling, Prime Minister Datuk Seri Anwar Ibrahim said the government “agreed to ease the existing conditions for the application of MM2H to increase the arrival of tourists and foreign investors to Malaysia”.

He also expressed commitments to introduce new initiatives under the Malaysian Visa Liberalisation Plan.

They are namely the Long-Term Social Visit Pass for international students who have graduated to meet industrial skilled personnel needs; and to improve Visa-On-Arrival facilities, social visit passes and Multiple Entry Visa offers to encourage the entry of tourists and investors, especially from India and China.

Source: The Edge Malaysia https://theedgemalaysia.com/node/686380