The MM2H programme is now accepting applications under new, stricter regulations. Despite lingering uncertainties, interest in the visa programme continues, though some prospective applicants are voicing concerns over its terms.

Earlier this year, authorized agents were advised they were no longer permitted to promote the Malaysia My Second Home (MM2H) visa or submit new applications. All agents were required to re-register under stricter conditions. As a long-time agent with nearly two decades of service and no significant complaints, we found this change somewhat harsh, but it was not open to negotiation. It seems many agents are struggling to meet these new requirements and have apparently opted not to apply for the updated license. Currently, it remains unclear how many agents have applied under the new conditions. Previously, we understood there were around 250 authorised agents.

We have submitted our application to become an agent under the new regulations and are pleased to report that we have met all preliminary requirements. We are now awaiting formal approval.

CLARIFICATIONS ON THE NEW PROGRAMME

There are numerous questions surrounding the new programme. Some queries have been addressed, while others remain unresolved. A meeting scheduled for July between the agents’ association and the Ministry, intended to clarify these matters, was postponed to August. However, this was again postponed and was expected to happen in September but that too did not occur. We have now been informed that the meeting is expected to take place in November, although no explanations for the many delays have been provided.

Confusion has also surrounded the submission process, with mixed feedback about whether applications are being processed. The Ministry has now clarified that they are accepting new applications, but approvals cannot yet be endorsed in passports. This delay appears to be related to the readiness of some automated systems, though no official explanation for this has been given, and no specific timeline for when endorsements will resume has been shared.

INTEREST IN THE SILVER TIER

Feedback indicates that the Silver tier of the national MM2H visa is generating the most interest among applicants. This tier requires a fixed deposit of US$150,000. However, many potential applicants have expressed their intention not to proceed due to dissatisfaction with the new terms. Concerns include the high fixed deposit amount, which exceeds the requirements of similar visa programs in other countries.

The most significant objection relates to the mandatory property purchase requirement. Even prospective buyers are hesitant about the stipulation to hold onto the property for 10 years, especially considering the visa’s five-year validity. While the five-year visa is renewable, many applicants find this to be insufficient reassurance, prompting some to consider retirement visa options in Thailand, Indonesia, and the Philippines.

NOT PRIMARILY A RETIREMENT VISA?

While people are telling us the MM2H visa no longer appears to be primarily aimed at retirees, it can certainly accommodate those with the required funds. It is open to anyone over 25, which is certainly earlier than many typically plan retirement. Although the 10-year property ownership requirement exists, it allows for the possibility of selling and purchasing a more expensive property. However, we have found most older individuals tend to seek smaller living spaces and trade down.

For those who can afford it, Malaysia offers an attractive lifestyle, and current MM2H visa holders report high satisfaction with their lives here. Changes to the programme have caused some anxiety among potential applicants, but in the past, the Ministry has assured existing participants that rules will not be materially altered for those who have already joined the programme, and we hope they uphold this promise.

For more information, please visit our website at www.MM2H.com, where we provide ongoing updates and offer an e-newsletter to keep interested parties informed about the latest developments.