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Sabah Launches MM2H Program to Attract Foreign Investment

After long disputes with the Federal Government, the Sabah Malaysia My Second Home (MM2H) program has finally launched, opening applications starting 1 July 2024. This program allows foreigners aged 30 and above, from countries with diplomatic ties to Malaysia, to live in Sabah, where they must meet specific financial and property investment criteria, including a minimum stay of 30 days per year in Sabah. 

Key benefits of the Sabah MM2H program include a five-year multiple-entry visa, renewable based on meeting the program requirements, and the freedom for participants to bring their spouses and children. 

During the launch on Sunday, State Tourism, Culture, and Environment Minister, Datuk Christina Liew, emphasised the potential of this program to significantly contribute to the state's economy by attracting long-term residents and investors.

With approximately 3,000 high-rise units in Sabah now available, priced at RM600,000 each, this program aims to boost local investment and economic growth by attracting retirees, expatriates, and property buyers.

Additionally, participants can withdraw up to 40% of their funds after two years in the program for purposes such as purchasing property, cars, education expenses for children, or medical expenses. 

Properties bought under this program can only be sold after five years from the date of purchase, with the condition that another property must be purchased at a minimum price of RM600,000, with a visa fee of RM500.00 per year for each applicant and their dependents.

Property purchases must comply with the Sabah State Government Circular (April 2022): Guideline for Purchase of Property by Foreigners in Sabah.

The MM2H program was paused in 2021 due to the pandemic. Just as it was about to resume, the Tourism, Arts, and Culture Ministry (MOTAC) announced an indefinite hold in May. In response, Sabah and Sarawak, eager to proceed after extensive preparation, decided to exercise their autonomy. This situation left authorised agents, who were midway through processing applications, in a state of uncertainty.

For more details, visit Sabah MM2H.

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