NEWS: Construction sector grew over 20% in 2Q2024, spearheaded by the buoyant performance of the civil engineering and residential buildings sub-sectors.
NEWS: PM Anwar has instructed the Federal Territories Department and DBKL to incorporate affordable Madani housing blocks in every new residential project.
NEWS: Government ordered to transfer 263.27-acre "Duta Enclave" to Semantan Estate (1952) Sdn Bhd liquidators.
NEWS: Yong Tai Bhd is selling its 5-star hotel Courtyard by Marriott Melaka for RM160 million to Southern Envoy Sdn Bhd.
NEWS: Construction work on the Light Rail Transit 3 (LRT3) from Bandar Utama to Johan Setia in Selangor has reached 95.6% and the line is expected to be operational in 3Q2025.
NEWS: Avaland Bhd topped out Alira Subang Jaya, a serviced residence in Metropark, Subang Jaya, which has achieved a 95% take-up rate, on July 29.
NEWS: Construction company TCS Group Holdings Bhd has secured a RM130.15 million contract to undertake construction of the 630-unit Arcadia Residences serviced apartments at Bandar Saujana Putra, Selangor in a related party transaction.
NEWS: Bursa Malaysia Bhd will only move its “front office” to TRX, not its entire operation, according to its chairman Tan Sri Abdul Wahid Omar.
NEWS: IOI Properties Group Bhd is acquiring the 7-storey Tropicana Gardens Mall in Kota Damansara, Petaling Jaya for RM680 million from Tropicana Corp Bhd.
NEWS: International tourist arrivals in Malaysia have increased significantly this year, with 9.48 million visitors as of May 2024 compared to 7.48 million tourists in the same period last year.
NEWS: NCT Group announced the topping out of the remaining two towers of its Grand Ion Majestic (GIM), a RM1.6 billion three-tower mixed development located in Genting Highlands, Pahang.
Malaysia My 2nd Home (MM2H)
Latest MM2H Programme Rules for New Applicants
Benefits of MM2H Programme
- Malaysia My Second Home (MM2H) Programme is an initiative which allows foreigners who fulfil certain criteria to stay in Malaysia. Through MM2H, successful applicants can live in Malaysia for as long as possible on a 5-year Renewable Pass with a Multiple Entry Visa (MEV).
- MM2H is not a Permanent Resident (PR) permit nor does it allow you to apply a Malaysia PR eventually.
- With MM2H, foreigners can enter and leave the country whenever they choose to do. However, they need to be physically present in Malaysia for a cumulative total of 90 days per year.
- MM2H applicants are divided into three tiers: Platinum, Gold and Silver. The Platinum category requires a fixed deposit of US$1 million, the Gold category requires US$500,000, and the Silver category requires US$150,000, along with specific criteria and conditions.
- Applicants are allowed to bring their spouses and children/dependents of 21 years old or younger and unmarried.
- Dependents are allowed to receive education in Malaysia, however, if any of these children are planning on entering tertiary education in Malaysia, the MM2H social visit pass will have to be terminated and the students will be required to apply for a Student Pass. Ownership of a Student Pass is a requirement imposed by the tertiary learning institutions of Malaysia.
- Any foreigner who visits the country through the MM2H programme is allowed to purchase a residential home or property.
- No taxation on pensions as well as the ability to receive offshore income including funds transferred into the country.
- Applicants who are over 50 years old are allowed to work part-time for 20 hours a week. This requires permission from the Immigration Department in order to do so.
- Furthermore, foreigners residing in Malaysia under the MM2H programme have the privilege of owning and operating a company.
- Allowed to apply for a maid subject to the prevailing guidelines of the Immigration Department.
- Additionally, individuals are permitted to bring a pet into the country, and their parents can also accompany them as dependents by obtaining a renewable visa.