PETALING JAYA: The Sabah government will table a revised version of the Sabah Malaysia My Second Home (SMM2H) programme in the state assembly soon, says chief minister Hajiji Noor.
According to Daily Express, Hajiji said the programme had been fine-tuned to make Sabah even more attractive to high-value foreigners.
“The influx of talent and expertise will benefit us, especially for our SMM2H programme that will be tabled at the state legislative assembly soon. We hope to see more high-value talents, including from South Korea, moving to Sabah,” he said.
Hajiji was speaking at the official opening of South Korea’s consulate at Plaza Shell in Kota Kinabalu.
The chief minister said Sabah is home to about 2,000 Koreans now, most of whom live in Kota Kinabalu.
In September 2022, Hajiji said Sabah would launch its own iteration of the MM2H programme once final details were firmed up and adjustments made.
He had said Sabah’s programme would not follow the new requirements set out under the federal MM2H programme.
On Aug 11, 2021, the federal government announced the resumption of the MM2H programme from Oct 1 that same year, but with stricter criteria.
Under the new programme, the compulsory fixed deposit in local banks was raised to RM1 million (from RM150,000) for applicants aged 50 and above, and to RM300,000 for applicants aged below 50.
Applicants are also required to have a minimum offshore monthly income of RM40,000 (previously RM10,000), declared liquid assets of RM1.5 million (previously RM500,000), and a minimum stay period of 90 days in total every year. The five-year pass can be renewed for another five years. - FMT
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.