Recently we organised a press conference in Kuching on the latest changes to the entry requirements for the federal's Malaysia My Second Home (MM2H) program which had made our Sarawak’s version even more attractive. I have mentioned to our media friends that Sarawak's version of the program is called SMM2H and it will not be affected by MM2H’s new requirements and regulations which will take effect in October this year.
I believe this will be to Sarawak's advantage because our federal counterpart had recently amended the guidelines and requirements for applicants as well as for those who want to renew their visa. The federal government on August 11 had announced that MM2H will resume online with stricter criteria, such as an increase of compulsory fixed deposits in local banks to RM1 million; offshore monthly income of RM40,000; and a declaration of RM1.5 million in liquid assets. There is also a requirement of a minimum stay period of 90 cumulative days per year as well as five years pass plus five years on renewal basis.
I have mentioned that if it were not due to the Covid19 pandemic, there will be an avalanche of applications for our program which has a panel that will independently deliberate and decide on each application. I am also the chairman for the panel which meet every month including with agencies like the Sarawak Immigration Department, Chief Minister’s Department, Sarawak State Attorney-General’s Office, Royal Malaysia Police, state Health Department and federal Tourism, Arts and Culture Ministry.
It is interesting to note that from 2007 to 2020, we had received a total of 1,306 participants for this program and our ministry has enhanced new regulations and requirements for S-MM2H which came into effect on September 1 last year. Applicants from the United Kingdom (UK) made about 18.1 per cent of applications, followed by China (17 per cent), Taiwan (12.3 per cent), Indonesia (7.1 per cent) and Singapore (7 per cent).
In 2019 itself, there were many applications from Australia, Bangladesh (14), United Kingdom (25), China (45), Indonesia (17), Japan (12), Korea (29) and Taiwan (13). Due to Covid19 pandemic, the applications had markedly reduced last year and there were only eight applications from Australia, China (seven), Ireland (six) and Singapore (10).
Our ministry had been studying why the applications for the state program that had been quite low compared with that in Peninsular Malaysia and among factors that had been identified was bureaucracy that led to applicants not willing to come here.
I had also pointed our state government had never stopped offering the S-MM2H program when the federal program was temporarily suspended in June last year to allow a more comprehensive review and re-evaluation of the program. Nonetheless, the criteria for S-MM2H program included placement of fixed deposits in local banks from RM150,000 for individuals to RM300,000 for couples.
There is also the requirement to invest in properties specifically for residential purpose with at least RM600,000 applies only to applicants who are between 40-50 years of age while those who were above 30 years of age could also be considered if they are accompanying their children to study in Sarawak or seeking long-term medical treatment. There is the minimum stay period of 15 days cumulative per year is required and a 10 years pass will be issued to successful applicants.
We will continue to actively diversify the tourism industry in Sarawak and beyond leisure tourism by looking at the potential of S-MM2H in bringing quality visitors in order to support Sarawak’s Post Covid-19 Development Strategy (PCDS).
Thus, the promotion of high yield quality tourism program like S-MM2H certainly benefit the tourism sector in Sarawak and we welcome expatriates as well as foreigners to apply for the S-MM2H Program. Once the Covid19 pandemic subsides and the situation stabilises, I believe there will a sharp rise in applications especially with restrictions on the federal side and such situation may lead to an increase number of participants coming into Sarawak for the program.