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Sarawak MM2H Program Registers Strong Growth Ahead of Changes · IMI Podcasts

• 0:00
  SPEAKER_00: Sarawaks Malaysia.
• 0:01
  SPEAKER_00: My second home, also known as SMM2H program, had approved 450 applicants for a combined 90 million Malaysian ringgit in fixed deposits placed in local banks between January and October this year, as it prepares for significant program changes in January 2025.
• 0:21
  SPEAKER_00: The program's trajectory shows substantial transformation, rising from an average of 89 approvals annually between 2007 and 2020 to today's higher numbers.
• 0:33
  SPEAKER_00: After dropping to 27 approvals in 2021, applications surged to 411 in 2022, followed by 542 in 2023, representing a 2,800% increase in monthly approval volume over two years.
• 0:50
  SPEAKER_00: Sarawak has maintained its immigration policy autonomy since joining the Federation of Malaya in 1963, exercising this power decisively when Malaysia's federal government tightened MM2H requirements in 2021.
• 1:05
  SPEAKER_00: While federal program applications fell 90%, Sarawak kept more flexible terms resembling the original nationwide program.
• 1:14
  SPEAKER_00: Chinese nationals hold the majority of the application pool, registering 408 approvals since 2007, followed by the United Kingdom at 355, Taiwan at 265, Hong Kong at 260, and the United States at 216.
• 1:35
  SPEAKER_00: Applications continue to grow as Sarawak readies to implement new investment requirements.
• 1:41
  SPEAKER_00: January 1 will bring in 500,000 ringgit fixed deposit requirement, more than triple the current amount, alongside a new one-off 5,000 ringgit processing fee.
• 1:52
  SPEAKER_00: A new one-stop panel coordinates application approvals, bringing together representatives from multiple government agencies.
• 2:00
  SPEAKER_00: The Ministry of Tourism, Arts and Culture granted Sarawak control over its MM2H agent licensing on November 1st, expanding local program oversight.
• 2:12
  SPEAKER_00: New regulations require agents to secure new licenses and maintain 100,000 ringit in paid-up capital while preventing market concentration through cross-sholding restrictions.
• 2:25
  SPEAKER_00: This episode first appeared as an article by Ahmad Abbas on IMIDAily.com.
• 2:32
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• 2:39
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