KUCHING (Aug 25): A total of 209 applications for the Sarawak-Malaysia My Second Home (S-MM2H) programme have been approved from 2020 until this year, said Dato Sri Abdul Karim Rahman Hamzah.
The Tourism, Creative Industry and Performing Arts Minister said the approvals were made since the implementation of the S-MM2H Enhanced Requirements and Regulations, which took effect on Sept 1, 2020.
“In August 2020, with a view to ensure the S-MM2H programme continues to benefit Sarawak, further refinement was proposed to the enhanced Requirements and Regulations of S-MM2H programme,” he said in a statement issued during a news conference here today.
Under the new requirements, which will come into effect from Sept 1 this year, Abdul Karim said the mandatory opening of fixed deposit accounts with any local bank in Sarawak is required.
He said the required amount remains at RM150,000 for individual applicants and RM300,000 for couples.
On top of that, he said proof of pension funds and offshore income funds are required to demonstrate the financial capability of applicants to support themselves while living in Sarawak.
He said the new requirements also expect all the S-MM2H pass holders to fulfil a minimum annual stay duration of 30 days in the state.
This is to serve as one of the conditions for consideration of extension or renewal of visa, he said.
“In addition to that, participants of S-MM2H are allowed to work, be employed, or involved in active investment and business during the participation duration of this programme subject to the following terms and conditions whereby they must be professionals or investors, and also subject to the approval from the state government of Sarawak,” he added.
The S-MM2H programme under the ministry seeks to attract and allow foreigners who fulfil certain criteria to live in Sarawak with a multiple-entry visa.
Abdul Karim said Sarawak started to adopt the MM2H programme in January 2007.
Between 2007 and 2020, he said the state received 1,306 programme participants.