Sarawak will not be affected by the new MM2H (Malaysia My Second Home) programme requirements and regulations, which were recently published by the federal government and will take effect in October 2021, according to Datuk Karim Rahman Hamzah. Last September, the state tourism, arts, and culture minister stated that his ministry has enhanced new norms and requirements for the Sarawak-MM2H Program.

He told reporters, “Currently, among the Sarawak-MM2H criteria are placement of fixed deposits in local banks from RM150,000 for individuals to RM300,000 for couples.”

He noted that the criteria to invest in residential property worth at least RM600,000 applies solely to candidates between the ages of 40 and 50. Applicants above the age of 30 may be considered if they are accompanying their children to Sarawak to study or are seeking long-term medical treatment, he added.

Datuk Karim emphasized, “A minimum stay period of 15 days cumulative per year is required,” adding that a 10-year pass will be issued to successful applicants.

He remarked that as part of Sarawak's Post Covid-19 Development Strategy (PCDS), his ministry will continue to actively diversify beyond leisure tourism by investigating the possibilities of S-MM2H in bringing quality visitors to Sarawak.

The federal government announced on August 11 that the MM2H Program will reopen in October 2021 with stricter criteria, including an increase in compulsory fixed deposits in local banks from RM150,000 (over 50) to RM300,000 (under 50) to RM1 million, and an increase in offshore monthly income from RM10,000 to RM40,000.

Applicants for the MM2H programme will also be required to declare RM 1.5 million in liquid assets instead of the previous RM500,000, a minimum stay time of 90 days cumulative every year, and five years pass plus five years on a renewal basis.

Read also: Time to Woo Quality Foreign Investors With SB - MM2H, Says SHAREDA