Foreigner investing into SARAWAK MM2H SWK

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Extract from https://www.borneotoday.net/sarawak-enhances-requirements-for-s-mm2h-programme/

KUCHING: Sarawak has enhanced its regulations and requirements on the Sarawak-Malaysia My Second Home (S-MM2H) programme effective Sept 1, said state Tourism, Arts and Culture Minister Datuk Abdul Karim Rahman Hamzah.

He said the enhancements were mainly to safeguard Sarawak’s interests and public security, relaxing the age limit for participants, their dependents and the use of agents.

“With the new regulations and requirements, the S-MM2H programme is open to citizens of all countries that have diplomatic relations with Malaysia,” he told a press conference here today.

For the age eligibility, he said the new category, of those aged between 40 and 50, would be eligible to apply for investments in real estate, specifically for residential properties with a total amount of at least RM600,000.

“The submission of the Letter of Good Conduct from relevant government authorities in the applicants’ home countries (are required) for all new applications,” he said, adding that the S-MM2H pass could be revoked at any time should the participants be involved in criminal activities.

Abdul Karim said security or personal bonds would also be imposed on the participants, which could then be used to cover the costs of their deportation should there be any breach or non-compliance of Sarawak’s Immigration Ordinance or should any unexpected incident happen to them.

To benefit Sarawak’s economy, he said the fixed deposit amount required from the participants had been increased from RM100,000 to RM150,000 for individuals and from RM150,000 to RM300,000 for couples.

“The minimum price of residential properties they can purchase has also been increased from RM350,000 to RM600,000 for the Kuching Division and from RM300,000 to RM500,000 for other divisions in Sarawak,” he said.

In addition, all S-MM2H pass holders must stay a minimum of 15 days per year in the state to qualify them for a renewal of the pass after five years. Their parents and children, aged below 21 years old and not married, are allowed to accompany them.

“Agents registered with MOTAC (Tourism, Arts and Culture Ministry of) Sarawak are now allowed to submit the application on behalf of the applicant,” he added.

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