The Malaysian Government has temporarily frozen the new application of Malaysia My Second Home program (MM2H) until December this year. The Malaysian Government will revise the program with the hopes of improving the process flow and simplify the procedures.
President of the Malaysian My Second Home Consultants Association (MM2HCA), Mr Lim Kok Sai say 90% of the applications they submitted between September and November 2019 were rejected without any reasons or justifications which is much higher than the previous 10 percent rejection rate and also the highest in the past 14 years.
“Our members were shocked when they suddenly received many rejection letters. There were no reasons attached for the rejections and they are not allowed to appeal the decisions. If the applications are rejected, the agents have to return the deposits to the applicants,” MM2HCA president Mr. Lim Kok Sai told the Star.
The scheme, which has brought 40 billion ringgit (HK$76 billion) in revenues for Malaysia, requires applicants to have a minimum deposit of 500,000 ringgit and a monthly income higher than 10,000 ringgit.
Mr. Lim Kok Sai says applications from Hong Kong are not expected to surge following the implementation of the new Hong Kong’s national security law.
Even if the applicant successfully obtains the 10-year residency, they will not acquire Malaysian nationality.
News sources: The Star, Edge Property
MM2H Alternate Program FAQ:
Since the MM2H program temporarily frozen the new application, what alternative long-term visa can be applied for?
2) Malaysia Residence Permit-Talent (RP-T)