00:00The government recently introduced a new Malaysian My Second Home program.
00:06In 2021, MM2H was designed to attract high-income individuals.
00:11As a result, the criteria of the MM2H program saw drastic changes that reduced the number of potential candidates.
00:19Among the conditions of the program first is that the principal applicant needs to make a deposit of RM1 million
00:26and an additional RM50,000 for each task assigned to obtain various visas for a period of 5 years.
00:34Having a monthly income of RM40,000 and liquid assets of at least RM1.5 million.
00:42Now that the rules have changed, the government now introduces the following changes.
00:47Introducing three categories of MM2H, previously only one.
00:51Eliminate the conditions of monthly income and liquid assets that burden and reduce the minimum deposit rate to US$150,000 for a 5-year visa.
01:03With three new categories, the new MM2H is still based on HNWI without sacrificing a larger group of applicants.
01:12Wealthy migration, including millionaires and HNWI, is a growing trend in the global economy.
01:19The US$21 billion investment migration market every year with an estimated RM135 billion is expected to move by 2025.
01:30The Platinum category introduced can also provide economic benefits to the country.
01:36It also minimizes competition with the MM2H program offered by Sabah and Sarawak,
01:43which is more capable of owning along with a lower standard of living in East Malaysia and more suitable for a group with a low minimum income.
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