PUTRAJAYA: Authorities have received a total of 111 applications to date for the Malaysia My Second Home (MM2H) programme under the new policy, an indication the programme is still popular despite stricter conditions. Home Minister Datuk Seri Hamzah Zainudin said this figure was about the same as the average number of applications received under the old conditions. "This shows that despite the conditions being stricter, foreigners are not shying away from the MM2H programme," he said, pointing out that the average number of applications before were about 100 a month. Hamzah pointed out that if 1,000 new applications requiring a fixed deposit of RM1mil were approved in a year, it would mean RM1bil in fixed deposit for the country, compared to RM300mil before when the fixed deposit amount required was RM300,000. Applications for MM2H were frozen in 2020 when Malaysia closed its borders due to the pandemic and revived, with new conditions in place late last year.

Source: The Star January 22, 2022 00:38 UTC