Updated MM2H Visa Programme In Malaysia: No Permanent Residence Option & Agents With Expired Licenses Must Reapply

Going through the updates and revisions of Malaysia’s MM2H visa program has felt like a journey in itself. Amidst all the tweaks, one major change stands out: the option for permanent residency is off the table.

In this post, I’m eager to walk you through what these adjustments mean for folks looking to apply. Here is everything you need to know!

Key Takeaways

• Malaysia’s MM2H visa program no longer offers a path to permanent residency. This is a big change for people hoping to make Malaysia their long-term home.
• There are new financial rules for the MM2H program, including different tiers like Platinum, Gold, and Silver with minimum amounts needed ranging from RM500,000 to RM5 million. Also, participants must stay in Malaysia for 60 days every year.
• Agents helping with the MM2H applications need to reapply if their licenses have expired. They will go through background checks and must meet new compliance requirements.
• The program now targets wealthier applicants by raising financial requirements and changing the age limit to 30 years old. This might reduce the number of people applying.

Overview of the Updated MM2H Visa Programme

So, let’s talk about the MM2H visa program updates. Now, you need to show more money to join, and you can’t get a PR (Permanent Residence) just by being part of it.

New Financial Requirements

I just found out about the new financial rules for the MM2H program. Now, they have different levels – Platinum, Gold, and Silver. For Platinum, I need RM5 million. That’s a lot! For Gold, it’s RM2 million.

Silver is the lowest at RM500,000. Also, I learned that anyone joining this program has to live in Malaysia for 60 days every year.

They also made a change for younger folks like me. You can join if you’re 30 or older now. This makes it easier for more people to think about making Malaysia their second home. It’s clear they want us to spend time and money here but also make sure we’re serious about staying in Malaysia part of the year.

No Permanent Residence Option

The MM2H Visa Programme made a big change recently. Now, people who come to Malaysia with this visa can’t get permanent residence anymore. This is a big deal for those planning to make Malaysia their long-term home.

It used to be different. Before, getting a MM2H visa was one step closer to staying in Malaysia forever.

This shift means we need to think differently about living here. For folks dreaming of turning my stay into something more permanent, it’s time to explore other paths. Sure, the programme still lets us enjoy the beauty and culture of places like Kuala Lumpur and Penang as temporary homes.

But now, the idea of planting roots here through MM2H isn’t an option anymore.

Detailed Changes in Financial Requirements

The MM2H program now asks for more money in your bank if you want to join. Plus, they set new rules on when and how you can use this money.

Increased Fixed Deposit Amount

Platinum needs RM5 million, Gold is at RM2 million, and Silver sits at RM500,000. Each tier has its own perks but needing that much money upfront? That’s huge! For someone like me looking into Malaysia as a second home, seeing these numbers means I have to check my bank account twice and maybe even think harder about how much I want this new opportunity.

Conditions for Withdrawal of Funds

After having the fixed deposit for a year, MM2H participants can take out up to 50%. This money is for buying a home, paying for school, or covering doctor’s bills. But they must keep the rest of the deposit until they decide to stop their visa.

I make sure to follow rules closely and plan ahead.

For emergencies, getting approval first is essential before taking any money out during that first year. The program makes sure people use this option wisely by checking each case closely.

It helps keep things fair and ensures everyone follows the same steps.

Impact of Removing Permanent Residence Option

Taking away the chance to stay forever changes things a lot. People who thought they could make Malaysia their forever home now need to think again.

Effects on Long-Term Foreign Residents

I’ve got friends who have lived in Malaysia for years, dreaming of one day becoming permanent residents. With the new MM2H program changes, that dream fades away. No longer can long-term foreign folks plan their future with the hope of settling down permanently in Malaysia.

This shift is a big deal—it shakes up their plans and makes staying in Malaysia less attractive.

Before, people chose the MM2H program because it felt like a step toward making Malaysia their forever home. Now, without the chance for permanent residency, some may rethink living in Malaysia long-term or investing as much into local communities and property.

It’s a tough turn for those who saw themselves retiring or building a life here. For me and others watching from the sidelines, we see how stability is essential—and this change might just push people to look elsewhere for it.

Comparison with Previous Benefits

Before, the MM2H (Malaysia My Second Home) programme offered a way to permanent residency. This was huge for folks who planning to make Malaysia their long-term home. The idea of settling down without worrying about visa renewals or the instability of temporary living situations was attractive.

Now, they’ve removed that option. It feels like a step back. Stability and long-term planning seem harder without the promise of permanent residency. I used to compare it with other countries’ retirement or second-home visas which often lead to a more stable status.

Now, it’s as if we’re just here on an extended visit.

Losing the chance at permanent residency changes everything.

New Regulations for MM2H Agents

So, the rules for MM2H agents have changed. They now need to reapply if their permissions are out of date. This includes going through a new process with some checks to make sure they follow all the new rules.

Reapplication Process for Expired Licenses

I need to share something important about agents with expired licenses. They must start from scratch and reapply if they want to keep working. This means going through all the steps again, just like new agents do.

The process asks for their business details and checks if they follow the rules.

Many agents are worried because waiting for a new license takes time. But, it’s necessary to make sure everyone meets the standards. I learned that every agent has to pass background checks too.

This is how we keep things fair and safe for everyone wanting to stay in Malaysia under the MM2H program. It’s a bit of work, but it ensures quality services for people coming from abroad.

Background Checks and Compliance Requirements

Motac just made new rules for MM2H agents. They’re serious about who they let work with them now. Every agent has to go through a check-up first. It’s like making sure the person selling you a house isn’t going to vanish with your money.

Agents also need a real office and a working phone number. No more mystery people working from somewhere no one can find.

They want everyone around the world to trust the Malaysia My Second Home program again. So, if an agent’s license has run out, they must sign up all over again and pass these tests.

It’s Motac’s way of cleaning house.

Trust is earned when actions meet words.”

How These Changes Affect Potential Applicants

These new rules for the MM2H program mean two big things for people who want to apply. First, they’re looking for folks with more money now, since you need to show you have more in your bank account than before.

Second, not as many people might try to get this visa because it doesn’t lead to staying forever in Malaysia anymore.

Shift in Target Applicant Demographic

The MM2H program is looking for richer applicants now. They changed the age to 30 and up. This choice makes it hard for people with less money to apply. More folks with a lot of money might come in, but fewer from lower-income places will try.

I see this change as big. It means Malaysia wants people who can spend more and invest in the country. This could make it tough for younger folks or those just starting out to get in under this home programme.

The focus is on attracting a certain kind of person over others now.

Expected Impact on Application Numbers

I see the changes to the MM2H program, like higher financial needs and no option for staying here forever, making fewer people want to come. The new rules mean you need more money to get in. Thus making people shifted to Sarawak MM2H, right? With lowest RM150,00 fixed deposit!

Plus, without the chance to stay for good, some might not think it’s worth it. Now, with China and Australia sending so many people before, we might see those numbers drop. It’s clear that looking for a long-term home is less appealing now.

With agents needing fresh approvals too, things slow down a bit. Everyone has to check their paperwork again. This makes it harder for newcomers to figure stuff out. So, I’m guessing we’ll see fewer applications in the near future.

Conclusion

So, we’ve talked a lot about the changes to Malaysia’s MM2H Visa Programme. Now, people can’t get permanent residence through it anymore. Also, if someone wants to help others apply for this visa, they need to make sure their license is up to date.

I saw in a Facebook group that some folks are looking at different ways to stay in Malaysia legally. They’re thinking about things like working visas and student visas.

With these updates, it seems like the government wants certain types of people to come live in Malaysia. This could mean fewer people might apply than before. It makes me wonder who will find these new rules more appealing.

All these changes seem pretty big! But I guess change is just part of life, right? Let’s see how all this unfolds over time.