Chinese and UK applicants lead the pack as 450 successful applicants secure Sarawak RM90 mil in deposits ahead of the upcoming changes
Sarawak changes S-MM2H deposit threshold, income rules, new fees, and agent licensing criteria from January 1, 2025.
Gov’t warns of blacklisting MM2H agents spreading misinformation; Vincent Fong hopes for potential residence exemption for investors over 50.
Decentralization of MM2H management allows Sabah to directly regulate agents and enforce program rules at state level.
Sabah officially opens its 10-year residency MM2H program with income, deposit, and real estate requirements.
Malaysia unveils new MM2h regulations, removes PR pathway, adjusts investment amounts, and issues updated license renewal criteria.
Thailand’s PM hopes to boost tourism in the region, which sees about 70 million travelers a year, by making it available on a single visa.
Malaysian government overhauls MM2H program; licensing delays worry agents as new regulations aim to streamline process and curb misconduct.
Malaysia’s PViP flops, registering only a total of 47 applicants in over a year. Government may review the program.
Malaysia is in the midst of its third MM2H revision in as many years. Some 56,000 participants remain active, nearly half of them Chinese.
Malaysia has made its MM2H program more attainable for most people. But market observers say the reforms will not suffice to tip the scales.
The MM2H closed for new applications last month pending revised terms. Stakeholders hope for sharply reduced costs, writes Jolie Zhang.
The Premium Visa Program (PViP), meanwhile, has received an average of under 5 applications a month since opening a year ago.
Now nearly 7 times cheaper than the national version and with much more flexible presence requirements, Sarawak’s MM2H is thriving.
Officials propose to divide MM2H into “Platinum, Silver, and Bronze” categories. Agents association call for merger of MM2H and PViP.
The quadrupling of the MM2H income requirement has caused a collapse in applications. “Those who now qualify have better options,” say agents.
Malaysia now has four residence-by-deposit programs that let participants live anywhere in the country, but two of them have an 80% discount.
Ukraine, whiplashing post-pandemic demand, Portugal’s golden visa crisis, and a host of price changes made for a highly eventful year.
Industry insiders, however, are not buying the figure, calling it “misinformation” and a practical impossibility.
While similar to MM2H in most respects, the new program is less restrictive and also considerably more expensive.
