IPOH, Dec 6 — The Perak Land and Mines Director’s office (PTG) approved a total of four real estate acquisition applications by Malaysia My Second Home (MM2H) participants since 2020, the State Legislative Assembly was told today.

Menteri Besar Datuk Seri Saarani Mohamad said that the four real estate acquisitions under the MM2H programme involved a levy collection of RM50,700 as of November 1.

“The federal government introduced the MM2H programme in 2002 with the aim of attracting foreigners, who meet its conditions, to live in the country for an extended period of time and settle in Malaysia.

“However, the MM2H programme was temporarily suspended from September 2020 to September 2021 as the government reviewed the conditions of the programme with national security in mind,” he said.

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Saarani was responding to an oral question by Pantai Remis assemblyman Wong May Wing who asked for the latest status of MM2H and its participants in Perak.

He also explained that the federal government in August 2021 had announced new conditions for the MM2H programme.

“Participants must have fixed savings of at least RM1 million compared to the previous fixed savings requirement of between RM300,000 and RM500,000.

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“The overseas income of MM2H participants must be at least RM40,000 per month compared to RM10,000 before.

“They also need to have liquid assets worth at least RM1.5 million,” he said.