Exploring the Sabah MM2H New Criteria December 2024: Silver, Gold, and Platinum Tiers Explained
The Sabah Malaysia My Second Home (Sabah MM2H) programme has undergone significant updates, with new criteria that promise to make it one of the most attractive residency options in Southeast Asia. Starting December 12, 2024, the revamped Sabah MM2H program is designed to appeal to individuals from all nations with diplomatic relations with Malaysia.
Managed by the State Ministry of Tourism, Culture, and Environment, the programme offers three distinct tiers: Silver, Gold, and Platinum. With options for different levels of financial commitment, the Sabah MM2H programme is set to attract more foreign participants who want to call Sabah their second home.
Sabah MM2H New Criteria December 2024: Key Features
The Sabah MM2H programme stands out for its inclusivity and flexibility. Whether you’re a retiree, an investor, or someone seeking a new lifestyle, the programme caters to diverse needs while maintaining affordability and exclusivity. The state government has stated that the programme is placed under the State Ministry of Tourism, ensuring that it aligns with Sabah’s economic and cultural goals.
Who Can Apply for the Sabah MM2H Program?
The Sabah MM2H program is open to individuals from countries with diplomatic relations with Malaysia. Applicants must meet a minimum age requirement of 30 years to be eligible for any of the three tiers. According to the secretariat of the Sabah MM2H programme, these recently reviewed criteria ensure that the programme attracts participants from diverse backgrounds.
Financial Requirements for Sabah MM2H Programme
A significant component of the Sabah MM2H programme is its financial requirements, tailored to each tier:
- Silver Tier: Requires RM500,000 as a fixed deposit in a trust fund.
- Gold Tier: Requires USD 500,000 in a fixed deposit.
- Platinum Tier: Requires USD 1 million in a fixed deposit.
All tiers allow participants to withdraw up to 40% of the fixed deposit after two years, exclusively for property purchase, education, or medical expenses. This flexibility makes the Sabah MM2H program both secure and practical for participants.
Income Proof: A Unique Aspect of the Sabah MM2H Program
Among the three tiers, only the Silver Tier requires proof of offshore income. Single applicants must demonstrate a monthly income of RM10,000, while applicants with dependents must show RM15,000. The Gold and Platinum tiers focus solely on fixed deposit commitments, making them more appealing to high-net-worth individuals.
Property Investment Requirements
Participants in the Sabah MM2H programme must invest in high-rise property valued at a minimum of RM600,000. However, selling the property is restricted for 10 years, although resale is allowed after 5 years, provided the property meets the minimum purchase price criteria.
This rule ensures a positive economic impact and protects Sabah’s real estate market. Applicants can also live in Sabah with multiple entry visas, making it easier to manage their investments.
Visa Validity and Benefits in Sabah MM2H Program
The Sabah MM2H program offers generous visa options, which vary by tier:
- Silver Tier: Multiple Entry Visa (MEV) valid for 5 years, renewable for an additional 5 years.
- Gold Tier: MEV valid for 15 years, ideal for mid-term settlers.
- Platinum Tier: MEV valid for 20 years, offering long-term stability.
All visas under the programme are renewable, providing participants the opportunity to live in Sabah for the long term.
Dependents and Family-Friendly Features
The Sabah MM2H programme is designed with families in mind. Dependents, including spouses, parents, parents-in-law, and children under 21, are eligible across all tiers. This inclusivity makes the programme ideal for applicants looking to bring their loved ones to enjoy Sabah’s safe and conducive environment.
Medical and Business Opportunities
Applicants must have valid medical insurance and undergo a medical check-up after receiving their conditional pass. This ensures that participants and their families are well-supported during their stay.
The Sabah MM2H programme also encourages business activities that create job opportunities for locals. While the Silver and Gold tiers do not permit participants to work directly, Platinum participants can engage in career opportunities in Sabah.
Transferability and Renewals
In the unfortunate event of a participant’s death, the MM2H pass can be transferred to the spouse for the remaining term. Renewal fees for all tiers are uniform at RM1,500, simplifying the process for long-term residents.
Why Choose the New Sabah MM2H Programme in 2024?
The new Sabah MM2H programme offers numerous benefits:
- Flexibility: Options for different financial commitments.
- Inclusivity: Open to applicants from nations with diplomatic relations.
- Family-Friendly: Dependents can accompany participants.
- Secure Investments: Property and business options that benefit the local economy.
- Visa Stability: Long-term MEVs for all tiers.
According to the state government, the programme will begin on December 12, 2024, offering an opportunity to live in Sabah with its good weather throughout the year and affordable living costs.
How the Sabah MM2H Program Differs From Other Programs
Compared to similar initiatives like the Sarawak MM2H program, the Sabah MM2H programme offers unique benefits. Its flexible fixed deposit withdrawals, long-term visa options, and family inclusivity make it a standout choice for many potential participants.
The state government is confident that the programme’s recently reviewed criteria will attract participants who are seeking a safe and conducive environment for all ages.
How to Apply for the Sabah MM2H Program
The details of the program can be found on the dedicated website managed by the State Ministry of Tourism, Culture, and Environment. Applicants are encouraged to review the terms and conditions carefully and ensure they meet the financial and residency requirements.
All applications must be submitted by a licensed Sabah-MM2H agent. These agents, licensed by the state government, are available to assist applicants throughout the application process. They help streamline the procedure, ensuring compliance with the program’s criteria and providing a positive experience for participants.
Conclusion
The Sabah MM2H programme is a game-changer for those seeking a second home in a vibrant and welcoming environment. With its tiered structure, the program offers a balance of affordability and exclusivity. Whether you’re planning to retire, invest, or relocate with your family, the Sabah MM2H program is your gateway to a fulfilling life in Sabah.
