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Discontinuation of The Reduction Of Fixed Deposit Placement Based On Property Purchase And MM2H Approval By Government Pension
Kindly be informed that MM2H Centre has discontinued the reduction of Fixed Deposit placement based on property purchase worth RM1 million and above in Malaysia. Also discontinued is the MM2H...
MM2H: Up there among the top 12 Print E-mail
Monday, 07 September 2009 11:03

DATUK DR ONG HONG PENG, Secretary-General, Ministry of Tourism

THE Ministry of Tourism would like to thank J.H. of Penang for sharing his views on how we should promote the Malaysia My Second Home (MM2H) programme in "Second home: MM2H offers few benefits" ( NST, Aug 28).

The feedback is useful for us in charting our MM2H promotional strategies. Our promotional efforts are focused mainly on the Japan, Britain, the Middle East and China markets, which have higher returns or greater potential to attract more MM2H participants.

To increase participation, we do leverage on our overseas Tourism Malaysia offices, tourism ambassadors and MM2H agents as well as Internet marketing to raise awareness and promote the programme in potential secondary markets, including European countries.

From feedback from existing participants of the MM2H programme, we note that their choice of Malaysia was based on several factors.

These include Malaysia's tropical climate, value for money, affordable cost of living based on the premise of a comparatively good quality or standard of life, ample choice of residential accommodation, easy accessibility, vast opportunities to enjoy our nature, environment and recreational activities and the friendliness of the multicultural population.

Some of the features often cited as attractive to MM2H participants are the provision of a 10-year social visit pass (multiple entry) which can be renewed for as long as they abide by the terms and conditions of the programme; tax-and-duty exemption for import of personal vehicle from abroad or purchase of locally-assembled car; and tax-exemption on foreign income from abroad.

To further enhance the attractiveness of the MM2H programme, the government has recently allowed MM2H participants aged 50 years and above to work part-time (up to 20 hours a week).

In addition, MM2H participants are allowed to invest or engage in businesses in approved sectors of our economy.

The attractiveness of the MM2H programme compared with similar programmes offered by other countries is reflected in some of the surveys conducted by independent bodies.

For example, Malaysia is acknowledged as the top long-stay destination for the Japanese, as revealed by Japan's Long Stay Foundation's surveys.

Additionally, International, an online magazine, has ranked Malaysia as the world's 12th-best retirement destination.


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