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Malaysia Probes MM2H Agents, Issues First Batch of Approvals

Gov't warns of blacklisting MM2H agents spreading misinformation; Vincent Fong hopes for potential residence exemption for investors over 50.

The Malaysian government has launched an investigation into Malaysia My Second Home (MM2H) agents who allegedly circulated false information about the program’s operational status.

Tourism, Arts, and Culture Minister Datuk Seri Tiong King Sing warns that agents who spread misinformation or mislead the public will face severe consequences.

Tiong emphasizes that the Ministry will take “strict action” against those responsible, including “blacklisting these agents, their directors and shareholders to prevent future misconduct.”

He adds that such irresponsible actions “hinder efforts to promote MM2H internationally” and could negatively affect the program.

Vincent Fong, Founder of Aubella and the MM2H Club, sheds light on the situation. He is “puzzled” by claims from industry stakeholders that the MM2H program isn’t ready for applications, dismissing these claims as false information.

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He points out that the government is already processing applications and has “issued the first batch of approval letters for the new MM2H.”

The Ministry had revised the licensing requirements for MM2H agents during its last policy update. New criteria include a minimum paid-up capital of RM200,000, 100% Malaysian ownership of the agency, and a bank guarantee of RM200,000 for participant compensation and protection.

The crackdown on misinformation comes as agents adapt to these new criteria. Fong indicates that among the 200 agents licensed under the previous program, fewer than 30 have obtained licenses since the reform.

Fong explains that this disparity may contribute to “dissenting views” among agencies struggling to meet new licensing requirements. Some agents may spread misinformation as a way to stall clients while they work to renew their licenses under the new, stricter criteria.

Tiong emphasizes that the MM2H “has already been relaunched and is open to eligible participants.”

The online application system, however, remains in testing to ensure smooth functionality. Tiong urges patience from applicants, explaining that a premature launch “could lead to failures that would undermine the government’s systems and erode applicants’ confidence” and that prospective investors can apply through “other channels.”

Tiong strongly encourages “all potential applicants to seek information directly from official sources and avoid being misled by unofficial reports.”

Malaysia’s “keen understanding of market needs”

The MM2H program has undergone several changes in recent years, culminating in a new-look program in 2024. The government introduced a three-tier system without income requirements in the lastest update. The new structure offers residency permits ranging from five to 20 years, depending on the investment tier.

Under the new regulations, fixed deposit amounts range from RM500,000 for the Silver tier to RM5 million for the Platinum tier. Investors can withdraw 50% of their fixed deposit after a one-year holding period for specific purposes within Malaysia.

The program has also introduced new property acquisition restrictions. MM2H holders must purchase properties valued at least RM600,000 for the Silver tier, RM1 million for the Gold tier, and RM2 million for the Platinum tier.

Investors cannot resell these properties for ten years, although they can upgrade to a higher-value property.

According to Fong, however, the government is still revealing important information about the inner workings of the new-look program.

Fong explains that the government has now clarified several key points that are vital to the process. Applicants can now "obtain an MM2H visa before purchasing property," resolving previous confusion. Properties investors buy before applying can also qualify if they meet program requirements.

He highlights a key improvement in stay requirements, noting that "a family of six" would only need each member to stay "15 days annually to meet the requirement."

Fong also says he has heard about governmental plans to entirely exempt applicants over the age of 50 from minimum stay requirements and extend this benefit to their dependent family members. These changes and the potential exemption, he believes, demonstrate "the minister's keen understanding of market needs."

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