KUALA LUMPUR: Despite stricter conditions, Malaysia My Second Home (MM2H) has garnered almost RM1bil of net income in the past year, says Datuk Seri Saifuddin Nasution Ismail.
The Home Minister told Dewan Rakyat that within the period of five years between 2015 and 2019 prior to the Covid-19 pandemic, with a total number of 3,900 applicants, the country recorded an income of RM958mil.Compared to the 2015-2019 period, the government made just RM958mil.
In August 2021, the government announced 10 new conditions for those interested in the programme, including RM1.5mil of liquid assets, RM40,000 monthly offshore income, RM1mil in a Malaysian fixed deposit, and an additional RM50,000 per dependent. "All of the applicants must go through the security vetting, because previously, there were some security lapses under this programme.
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