Stick with original MM2H terms, ex-minister tells govt
Abdul Kadir Sheikh Fadzir warns that the new terms and conditions will kill the Malaysia My Second Home programme. (Facebook pic)
PETALING JAYA: The home ministry should revisit the Cabinet Memorandum supporting the Malaysia My Second Home (MM2H) programme in 2002, former tourism, arts and culture minister Abdul Kadir Sheikh Fadzir said today.
“From this, we would realise that the programme, judiciously implemented, should bring huge benefits, both in the short-term and long-term, for our country,” he said in a statement.
Kadir was responding to the government’s decision to enhance the financial conditions for the MM2H programme. This included a compulsory fixed deposit of RM1 million in local banks for all applicants, as opposed to RM150,000 for applicants aged 50 and above, and RM300,000 for all others, previously.
New applicants are now required to have a minimum offshore monthly income of RM40,000 compared with RM10,000 previously, aside from declaring RM1.5 million in liquid assets instead of RM500,000 previously.
Kadir, who served as the tourism, arts and culture minister in the Mahathir Mohamad and Abdullah Ahmad Badawi administrations from 1996 to 2004, said that the original objective was to draw in at least 70,000 MM2H guests every year.
“Imagine if we have about one million of these MM2H guests in our country and have a ‘One Stop Centre’ to look after them and ensure that they are happy.
“These guests would have brought in billions of ringgit into the banking system as well as invested billions into the property market,” he said, adding that they would continue to boost the economy with their family, relatives and friends visiting the country as tourists.
Kadir pointed out how the tourism ministry then was confident of achieving this as they had a very competent network of tourism offices all over the world with a ready network of connections with relevant bodies and associations.
The tourism ministry was eventually tasked with being a one-stop shop for the MM2H programme. However, as of Sept 15 this year, all matters regarding the programme have been transferred to the immigration department and home ministry.
Kadir warned that the revised terms will kill MM2H, and also appealed to the government to have the programme transferred back to the tourism ministry.
The MM2H programme issued successful applicants a 10-year visa without any conditions on the number of days they needed to stay here every year.
After being frozen last year for “review and further improvements”, the home ministry announced on Aug 11 that it would be back online in October but with 10 major changes, including the financial terms mentioned above.
The maximum period of the visa had now been reduced to five years and with a duration of stay of at least 90 days (cumulative) in a year.
PETALING JAYA: The home ministry should revisit the Cabinet Memorandum supporting the Malaysia My Second Home (MM2H) programme in 2002, former tourism, arts and culture minister Abdul Kadir Sheikh Fadzir said today.
“From this, we would realise that the programme, judiciously implemented, should bring huge benefits, both in the short-term and long-term, for our country,” he said in a statement.
Kadir was responding to the government’s decision to enhance the financial conditions for the MM2H programme. This included a compulsory fixed deposit of RM1 million in local banks for all applicants, as opposed to RM150,000 for applicants aged 50 and above, and RM300,000 for all others, previously.
New applicants are now required to have a minimum offshore monthly income of RM40,000 compared with RM10,000 previously, aside from declaring RM1.5 million in liquid assets instead of RM500,000 previously.
Kadir, who served as the tourism, arts and culture minister in the Mahathir Mohamad and Abdullah Ahmad Badawi administrations from 1996 to 2004, said that the original objective was to draw in at least 70,000 MM2H guests every year.
“Imagine if we have about one million of these MM2H guests in our country and have a ‘One Stop Centre’ to look after them and ensure that they are happy.
“These guests would have brought in billions of ringgit into the banking system as well as invested billions into the property market,” he said, adding that they would continue to boost the economy with their family, relatives and friends visiting the country as tourists.
Kadir pointed out how the tourism ministry then was confident of achieving this as they had a very competent network of tourism offices all over the world with a ready network of connections with relevant bodies and associations.
The tourism ministry was eventually tasked with being a one-stop shop for the MM2H programme. However, as of Sept 15 this year, all matters regarding the programme have been transferred to the immigration department and home ministry.
Kadir warned that the revised terms will kill MM2H, and also appealed to the government to have the programme transferred back to the tourism ministry.
The MM2H programme issued successful applicants a 10-year visa without any conditions on the number of days they needed to stay here every year.
After being frozen last year for “review and further improvements”, the home ministry announced on Aug 11 that it would be back online in October but with 10 major changes, including the financial terms mentioned above.
The maximum period of the visa had now been reduced to five years and with a duration of stay of at least 90 days (cumulative) in a year.
Money does not equate to quality.
ReplyDeleteI can see extending the minimum amount of time you must live in the country each year to weed out those not really serious about the program, but the financial requirements will essentially kill MM2H. What are they thinking?