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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...
Wives can now apply for Malaysia My Second Home Print E-mail
Sunday, 30 September 2007 00:51

KUALA LUMPUR: Applications for the Malaysia My Second Home (MM2H) programme is now open to the fairer spouse, says Deputy Tourism Minister Datuk Donald Lim.

Previously, only husbands were eligible to apply for the programme.

Lim said the move was in line with the Government's objective of streamlining the application process, in addition to providing more options for those interested in making Malaysia their second home.

"There are instances where the wife would earn a higher income than her husband, and this move would make it easier for the couple to meet the basic requirements," he said.

He explained that applicants were required to have a fixed deposit placement of RM150,000 (for those aged 50 and above) or RM300,000 (for those aged below 50), and that this move would help a couple meet the figure.

This was among several issues that were discussed during a policy meeting between the ministry, the Immigration Department and the Home Affairs Ministry here recently.

"We have also proposed a one-stop centre for MM2H applications, particularly because those who apply to stay in Sabah and Sarawak have to go through the Immigration Department there.

"Talks are being held with them (Sabah and Sarawak state governments) and we hope to very soon have all decisions and approvals made at the federal level," said Lim after opening the inaugural Expat Expo at the Kuala Lumpur Convention Centre here on Saturday.

The two-day exhibition, from 10am to 8pm, which ends Sunday showcases the various facilities and services available to existing, incoming and potential members of the expatriate community.

On property investments for expatriates, Lim said the Government was considering implementing a standard minimum price of RM250,000 for all states.

The minimum property investment price tag in East Malaysia is RM300,000, while in Penang it is RM150,000.

Lim said that in principle most states had already agreed with the proposal, but that several final details still needed discussion.

"In addition to this, we will also look at the possibility of allowing expatriates above the age of 60 to immediately apply for the MM2H programme after they have terminated their employment here," he said.

Source: TheStar

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