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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...
Frequent changes discouraging settlers, say MM2H agents Print E-mail
Wednesday, 24 March 2010 18:31

The Government must stop changing its rules and regulations for the Malaysia My Second Home (MM2H) programme so that foreigners can set up homes in Malaysia with ease.

MM2H Agents Association president Kirby S. S. Lim said MM2H agents were having problems explaining to their clients the various and constant changes to the criteria for foreigners to set up homes here.

He said it would be good if the Government streamlined the regulations and informed the association before enforcing new regulations so that agents could prepare themselves before disseminating the information to their clients.

“We raised this concern with the Tourism Ministry and they have promised to standardise and streamline the guidelines and cooperate with agents so that more MM2H participants can be brought in,” he said during a dialogue session on the MM2H programme held in conjunction with the Penang International Property Expo 2010 at the Penang International Sports Arena on Sunday.

Lim also urged agents in Penang to set up a Penang branch under the purview of the association so that they could strengthen their marketing strategies and attract more participants.

He said the association, formed four years ago, now had 197 members of which 30 to 40 were active.

Association member Ishihara Shotaro said the latest requirement by the Government for MM2H participants to produce ‘Letters of Good Conduct’ from their countries of origin stating they were free of any criminal offences was met with reservations by some participants, particularly those from Japan.

“For our Japanese clients, such letters are not easy to obtain and the information are confidential,” he said.


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