Currently, many people are choosing to move to Malaysia for leisure, retirement, quality education and investment reasons.

Recently, Malaysian officials announced the number of people who have settled in the country through the Second Home Program (MM2H).

01

MM2H Visa Holders

Nearly half are Chinese

In June last year, Malaysia's Ministry of Tourism, Arts and Culture released the latest application requirements for the Malaysia Second Home program. The program is divided into four groups, Silver, Gold, Platinum and Iskandar SAR, to meet the needs of different applicants.

▶ Application Requirements:

Applicants who are 25 years old or above can obtain a residence visa for 5 to 10 years and it is renewable upon expiration by simply depositing US$32,000 to US$1 million in a Malaysian bank and purchasing a property of RM500,000 to RM2 million.

According to Minister of Tourism, Arts and Culture Teo Kheng Hsin, the Malaysian Second Home Program has approved a total of 58,468 applications, including 28,528 main applicants and 29,940 dependents, as of the end of last year.

Of these, about 26,000 were from mainland China, which accounted for a whopping 45% of the total.

In addition, the updated MM2H program has approved 782 applications, including 319 principal applicants and 463 dependents.

02

Penang

Becoming a hot spot for settlement

Citing Malaysian government statistics and community sources, the Financial Times reported that there are about 200,000 Chinese currently living in Malaysia, including about 45,000 business owners, managers and employees.

While Kuala Lumpur is the first choice of residence for many Chinese, Penang, which has been ranked among the “world's 10 best places to retire”, is also favored by them.

Dato' Yeo Soon Heng, Chairman of Tourism Malaysia, said in an interview that there are five major factors for MM2H visa holders to settle in Penang:

❶ Daily spending in Penang is more affordable compared to big cities abroad.

❷ Penang has a mild climate with four seasons of summer, which attracts many foreigners who want to avoid the cold winter.

❸ Penang has convenient and high quality medical facilities.

❹ For the middle class, Penang offers a wealth of educational resources, including a number of international schools covering all stages from pre-school, primary to secondary.

❺ A clear language advantage, Penang residents are generally multilingual, including English, Mandarin and dialects, making it easy for MM2H participants to communicate with locals in their daily lives.

The Malaysia Second Home program is not only suitable for those seeking a comfortable retirement, but also ideal for investors, digital nomads, and families pursuing international education or the middle class desiring a change in lifestyle.

If you are interested in relocating to Malaysia, please contact Nebula Hai International and we will provide you with customized and exclusive services.