Understanding the MM2H Program: 2024/2025 Updates
The Malaysia My Second Home (MM2H) program has long been a popular choice for foreigners wishing to reside in Malaysia long-term. In 2024, the Malaysian government introduced significant revisions to the program, creating a new tiered structure designed to attract a wider range of applicants. If you're considering making Malaysia your second home, it's crucial to understand these changes.
The New Tiered System
The revamped MM2H program is now divided into four categories: Silver, Gold, Platinum, and a special category for Special Economic/Financial Zones (SEZ/SFZ).
Silver Tier: This is the most accessible tier, requiring a fixed deposit of USD 150,000. It grants a 10-year renewable visa but does not permit holders to work or run a business. Applicants must also purchase a property with a minimum value of MYR 600,000.
Gold Tier: Aimed at more established individuals, the Gold tier requires a fixed deposit of USD 500,000 and the purchase of property valued at MYR 1 million or more. This tier provides a 15-year renewable visa and allows holders to work and conduct business.
Platinum Tier: The premium tier offers a 20-year renewable visa with maximum privileges, including the right to work, run a business, and hire domestic help. It requires a fixed deposit of USD 1 million and a property purchase of at least MYR 2 million.
SEZ/SFZ Tier: This special category is designed to boost investment in specific zones like Forest City in Johor. It has a significantly lower fixed deposit requirement (starting from USD 32,000 for those over 50) but restricts property purchase to designated zones.
Key Requirements and Changes
Across most tiers, there are some common requirements. Applicants must be over 21 or 25 years old depending on the tier, and a minimum stay of 90 cumulative days per year is required for those under 50. One of the most significant changes is the removal of the offshore income proof requirement for most tiers, simplifying the application process.
Applicants can withdraw up to 50% of their fixed deposit after one year for approved expenses like property purchase, medical bills, or children's education in Malaysia. It's important to note that all applications must now be submitted through a licensed MM2H agent.
The updated MM2H program offers greater flexibility and a clearer pathway to long-term residency in Malaysia. Whether you are a retiree, an investor, or a professional looking for a new base in Southeast Asia, there is likely a tier that suits your needs. The team at Meet International is fully updated on these new regulations and can guide you through every step of the application process. Contact us for a consultation to find out which MM2H tier is right for you.
