PETALING JAYA (June 7): The Malaysia My Second Home (MM2H) scheme has raked in RM40.6 billion in total from its introduction in 2002 until 2018, from 21,841 approvals. Besides property, the country also earns revenue from the visa holders’ bank deposits, medical treatment, tourism and other purchases like cars and furniture, Lim elaborated. “Their spending can (indirectly) create jobs in the country.”In 2018, there were 6,276 applications, but only 3,339 were approved, and this group contributed RM2.8 billion to Malaysia’s revenue, Lim highlighted. This year, Lim is expecting a potential revenue of RM4 billion from 5,000 applications. Association vice-president Anthony Liew, however, pointed out “Malaysia lags behind Thailand and the Philippines when it comes to the speed of visa approval”.

Source: The Edge Markets June 07, 2019 13:18 UTC